The military strike launched by the United States and Israel against Iran entered its 31st day on the 30th. U.S. Secretary of State Rubio said in an interview broadcast by Qatar's Al Jazeera on the 30th that if Iran blocks the Strait of Hormuz after the war is over, it will "face serious consequences."
NetEase Auto reported on March 31 that at the just-held FAW-Volkswagen spring new product launch conference, (丨) a new member of the family - the new Sagitar S was officially launched. The new car is positioned as an A+-class family sedan, targeting young families and first-time buyers. A total of 4 models have been launched, with official guide prices ranging from RMB 79,800 to RMB 105,800.
The new car launches two power combinations of 1.5L+1.5T. With German quality, intelligent configuration decentralization and people-friendly pricing, it further improves the Sagitar family product matrix and impacts the 100,000-class mainstream family car market.
The new Sagitar S has previously launched blind ordering and price guessing activities on March 25. As of the day of launch, the early warm-up has accumulated a large number of potential users. Officials simultaneously announced exclusive rights and interests for the launch: From now until March 31, users who place orders through FAW-Volkswagen's official channels and complete invoicing and verification before April 30 can enjoy 1,000 yuan to offset the 3,000 yuan refueling fund; participate in the official price guessing, and the first 1,000 users whose quotations are closest to the final guide price will receive official exclusive gifts.
As an important model marking the 20th anniversary of the Sagitar brand entering the Chinese market, the launch of the new Sagitar S marks the official extension of the Sagitar series' product coverage downwards after gaining nearly 4.5 million cumulative users, accurately connecting pragmatic first-time purchase families and urban commuters, and further expanding its voice in the A+ class fuel sedan market.
In terms of appearance, the new Sagitar S continues Volkswagen's family-style design language and Bauhaus pragmatism concept. The overall lines are simple and stretched, the front face shape is widened, and the outline of the light group is highly consistent with the overseas version of the Sagitar, making it visually more majestic. The through-type light strip, luminous brand logo and duck tail design effectively enhance the youthful attributes, and the exclusive denim blue car color provides users with more personalized choices.
In terms of body size, the length, width and height of the new car are 4702mm × 1815mm × 1484mm respectively, and the wheelbase reaches 2688mm. It continues the A+ class space advantage of the Sagitar series. The rear legroom and trunk volume can fully meet the multiple needs of families for daily riding and cargo carrying, and it has outstanding practicality.
The interior is positioned with "modern, practical, and homely" as its core positioning. It adopts an enveloping cockpit layout, with dual color matching and large-area soft covering materials, which effectively enhances the texture and class of the cockpit. The car is equipped with a dual-screen system consisting of a 12.9-inch floating central control screen and a 10.25-inch full LCD instrument. The information display is clear and intuitive, and the operation logic is simple and easy to understand.
In terms of detailed design, the steering wheel retains physical buttons to fit daily driving habits; the shift mechanism adopts a gearbox layout, which effectively releases the space in the central tunnel, and cooperates with the 22 storage spaces in the entire car to maximize the practicality of the interior. In addition, 30-color partitioned interior ambient lighting, ergonomic seats, AR real-life navigation and other configurations are equipped to comprehensively improve driving comfort and convenience.
The new Sagitar S is equipped with Qualcomm's 8155 cockpit chip, which is the same as the new Sagitar L. The chip performance does not lag or lag behind, ensuring smooth and stable operation of the vehicle system and effectively avoiding problems such as lags and delays.
The voice interaction system is technically supported by iFlytek and integrates Deepseek, Doubao and FAW-Volkswagen's self-developed automotive vertical field model. It has 20 seconds of continuous dialogue and accurate understanding of multiple intentions. The offline response speed is about 1.5 seconds and the online response speed is about 2.5 seconds. It supports Sichuan, Cantonese and other local language recognition, and can realize 800 vehicle control functions. The interactive experience is closer to daily use scenarios.
In terms of interconnection, the new car is compatible with three major interconnection protocols: Apple CarPlay, Baidu CarLife, and Huawei Hicar. It can realize seamless connection between mobile phones and car machines, and supports synchronization of navigation, music, phone and other functions to meet the usage habits of different users and further improve the convenience of using the car.
In terms of power, the new Sagitar S provides two sets of 1.5L displacement powertrains to accurately adapt to the needs of different users.
Among them, the 1.5L naturally aspirated engine is paired with a 6AT gearbox, which has smoothness, reliability and low maintenance costs as its core advantages. The power output is moderate and is more suitable for daily commuting in the city, family transportation and other scenarios. Later maintenance is convenient and the cost of use is low.
The 1.5T EVO2 engine is matched with a 7-speed DSG gearbox, with a maximum power of 118kW and a peak torque of 250N·m. The power parameters are outstanding. The engine adopts many advanced technologies such as Miller cycle, mid-mounted VVT, APS atmospheric plasma spraying, and electronically adjusted water pump. It not only improves the power response speed and output smoothness, but also effectively reduces fuel consumption. The comprehensive fuel consumption per 100 kilometers is only 5.49L, taking into account performance and energy saving.
In terms of chassis, the new car continues the classic German tuning style, with high steering precision, a stable body posture, and outstanding high-speed driving stability. The suspension is tuned for both comfort and support. It can easily meet the needs of all scenarios such as urban commuting, family outings, and long-distance self-driving, and provides users with a solid driving quality.
In terms of quality and safety, the new Sagitar S continues the Sagitar family’s strict manufacturing standards and quality control system. The vehicle has completed 3,137 accident scenario tests that exceed national standards, covering many core safety projects such as vehicle collisions and pedestrian protection. It has completed a total of 10 million kilometers of extreme environment tests, covering complex working conditions such as high cold, plateau, high temperature, dust, and long-term exposure to fully verify the reliability and durability of the vehicle.
From parts selection, production and assembly to final off-line, new cars implement strict quality control standards throughout the entire process to ensure that each vehicle has stable product quality, continuing the market reputation of the Sagitar series as durable and reliable, and providing users with a solid guarantee for long-term car use.
The launch of the new Sagitar S further improves the product matrix of the Sagitar family. Together with the current Sagitar and the new Sagitar L, it forms a three-level layout of "high-end - mid-range - entry-level", targeting quality upgrade users, mainstream family users and pragmatic first-time purchasers respectively, accurately covering consumer groups with different price points and different needs.
Looking back at the market performance of the Sagitar series, since entering the Chinese market in 2006, the cumulative sales have been close to 4.5 million units. In 2025, it ranked first in the A+-class fuel sedan market segment with 255,979 units. The current monthly sales remain stable at more than 20,000 units. Under the dual squeeze of independent and new energy models, it still maintains strong competitiveness.
The current 100,000-class family car market has long been dominated by independent brands, while joint venture brands generally have problems such as high pricing and basic configuration. The new Sagitar S enters this range with an affordable price starting from 79,800 yuan. It brings the advantages of Qualcomm 8155 chip, AI interaction, dual power selection, German chassis and super-national quality verification into the mainstream household market, directly competing with independent fuel and hybrid compact cars.
The launch of the new Sagitar S marks a strategic change for the leading joint venture car company in the fuel vehicle track - no longer relying on brand premiums, but facing market competition directly through technology decentralization, precise pricing, and scale advantages. With the return of pragmatic consumption, family users pay more attention to reliability, value retention, cost of use and comprehensive convenience when buying cars. The new Sagitar S is built around the core needs of users. With balanced product strength and no obvious shortcomings, it has become the preferred model for pragmatic consumers in the A+ class family car market.
Angela Dong, Chairman and CEO of Nike Greater China, has decided on her next stop. "Daily Economic News" reporters learned from the industry that she will officially join Sequoia China as an investment partner on April 1.
Public information shows that Dong Wei joined Nike China in 2005. In 2015, he was promoted to Nike’s global vice president and general manager of Greater China. In October 2024, he was promoted to chairman and CEO of Greater China. On March 31, 2026, she officially resigned and officially announced that she would join Sequoia China and become a consumer investor.
Dong Wei has worked at Nike for more than 20 years
Since its establishment, Sequoia China has identified consumption as one of the three major areas. Its layout covers IP trends, tourism, sports, etc., and it has accurately invested in a number of well-known consumer companies such as Bubble Mart, Mingming Busy, Beitani, Kayou, Gu Ming, etc., and many of them are the earliest investors.
Prior to this, Zhang Yu, the former editor-in-chief of the Chinese version of "VOGUE Clothing and Beauty", also officially announced that he had become an investment partner of Sequoia China. Under her participation and leadership, Sequoia China has successively invested in or acquired many European, American and Korean designer brands such as Ami, WE11DONE, DESTRE, and Holzweiler.
From the head of Nike China to an investor in Sequoia China
In the large consumer field, Dong Wei has more than 20 years of executive experience, and his career spans multiple global consumer goods giants.
Public information shows that Dong Wei joined Nike China in 2005 as financial director; in September 2011, he served as vice president and chief financial officer of Nike Greater China; in April 2015, he continued to be promoted to Nike global vice president and general manager of Greater China, with overall responsibility for Nike in the Chinese market Its business strategy and operations have played a key role in promoting the continued growth of Nike's business in Greater China; in October 2024, Nike appointed Dong Wei as chairman and CEO of Greater China and global CEO of the ACG brand. This is also the first Chinese executive to take charge of Nike's global sub-brand.
Industry insiders commented that during his 21 years at Nike, Dong Wei witnessed and led the rise and transformation of this international sports brand in the Chinese market, built a world-class local team and innovation ecosystem, and promoted Nike's layout in digital transformation, local innovation and sustainable development, making Nike Greater China an important fulcrum of the group's global strategy.
Dong Wei's work picture
In addition, Dong Wei has also served as an independent director of the Estee Lauder Group since 2021, demonstrating her influence in the global consumer goods industry. These gave her the confidence to turn into a consumer investor.
The "Daily Economic News" reporter noticed that Dong Wei's title when he joined Sequoia China was "investment partner." In the investment circle, investment partner (Venture Partner) is a relatively special role.
A leading VC person told reporters that most senior people with industrial or industry backgrounds who transform into investors will start from the role of investment partners. This identity usually has many years of experience in industry or industry, and often enters the investment field due to career transformation needs. Relying on their in-depth understanding of the industry, they can judge high-quality projects more accurately than ordinary investors. At the same time, they can rely on their accumulated resources and relationship network to provide empowering support for invested projects and enterprises in related industries. This is also its core value. "It is a choice for many entrepreneurs after their business reaches a certain stage."
This model is not uncommon in the international investment community. Compared with general partners, the relationship between investment partners and fund companies will be looser. But it combines industrial experience with capital strength to provide more targeted strategic guidance and resource support for invested companies.
Sequoia China has previously introduced a number of investment partners, forming a matrix of industry experts covering consumption, technology, carbon neutrality and other fields. For example, at the beginning of 2021, Zhang Yu, the former editor-in-chief of VOGUE China, known as the "Devil of Fashion", announced that he would join Sequoia China as an investment partner, focusing on the fashion, lifestyle, and entertainment consumer sectors, and supporting the new generation of Chinese creativity and international brands seeking development in China. After joining Sequoia, Zhang Yu gave full play to his resources and influence in the fashion industry. Sequoia China invested in or acquired a number of European, American and Korean designer brands, including French brands AMI and DESTREE, Korean fashion brand WE11DONE, Norwegian brand Holzweiler, etc., and continued to expand its consumer fashion investment territory.
Is the consumption track okay again?
Since the beginning of this year, the recovery of investment in the consumer sector has become the focus of heated discussions in the industry. Many consumer investors previously stated in interviews with reporters from the "Daily Economic News" that the investment performance-price ratio of high-quality projects has significantly improved, and the industry's recovery trend is clear. There are multiple dimensional factors behind this.
On the one hand, policies are blowing warmly. On March 6, Wu Qing, Chairman of the China Securities Regulatory Commission, released a major signal at the economic press conference of the Fourth Session of the 14th National People's Congress - a more precise and inclusive set of listing standards will be added to the Growth Enterprise Market to actively support new consumption, modern service industries and other high-quality innovative entrepreneurial companies to list on the Growth Enterprise Market.
Photos of Dong Wei in Nike store
As soon as the news came out, the entire primary market was instantly ignited, especially consumer investors. Some interviewed institutions said that this policy signal has given a boost to the consumption track. It will not only broaden the exit channels for high-quality consumer companies, but also guide more capital to return to the consumption field and help the healthy development of the industry.
Judging from the data, the amount of consumer investment has also continued to increase this year. According to the statistics of Jiachuan Investment, reporters from "Daily Economic News" found that in January and February this year, the scale of investment in the consumer track reached 2.552 billion yuan and 7.063 billion yuan respectively, a year-on-year increase of 116.64% and 209.51% respectively. February also surged 176.76% compared to January, reflecting that the primary market's confidence in the consumer track is rapidly repairing, and funds are accelerating to gather in this area.
For Sequoia China, the consumer track has always been one of the three key areas of its layout. From IP trends, tourism to sports, Sequoia China can be seen. It has accurately invested in a number of well-known consumer companies such as Bubble Mart, Mingming Busy, Beitani, Kayou, Gu Ming, etc., and many of them are the earliest investors.
Hu Ruodi, a partner of Sequoia China, once said that Sequoia had consumer investments when it was founded in 2005. It has continued to be optimistic about and tracked China's catering and retail industries and continued to explore underwater projects. This investment strategy has allowed the institution to gain a lot in the consumer field. For example, Guming, which it invested in from 2019 to 2020, was listed on the Hong Kong Stock Exchange in February 2025, and its market value was nearly three times that of the first day of IPO; Mingming Busy was listed in January 2026, becoming the "No. 1 snack stock", with a market value that once exceeded HK$90 billion.
Related news
Dong Wei, who just resigned as CEO of Nike China, went to Sequoia China
On March 31, a reporter from the 21st Century Business Herald confirmed that Dong Wei, the former Nike Greater China leader, will officially join Sequoia China as an investment partner on April 1.
It should be noted that from a time perspective, Dong Wei's transition to the track can be described as "seamless."
On January 21, Nike announced that Greater China leader Angela Dong would officially step down from her post on March 31. At the same time, Nike announced the appointment of Cathy Sparks as the new vice president and general manager of Nike Greater China.
It should also be noted that Dong Wei's resignation from Nike seemed sudden.
At the end of 2025, Nike announced that the heads of four regions including Greater China will directly enter the senior leadership management and report to the global CEO to accelerate the Win Now plan.
When it comes to specific executives, Dong Wei, chairman and CEO of Nike Greater China, has been further promoted. "I look forward to working more closely with her and the team." Elliott Hill, President and CEO of Nike Group, said at the performance meeting. In October 2024, Dong Wei has been promoted to chairman and CEO of Nike Greater China and served as global CEO of the ACG brand.
Dong Wei fashion photos
Objectively, Dong Wei has witnessed the ups and downs of Nike.
"Over the past two decades, she has held a number of important leadership positions in Greater China. During her tenure, Nike has been deeply involved in and witnessed many milestones in sports, culture and business development in Greater China, including the Beijing Olympics, the rapid rise of China's consumers and digital ecosystem, and the epidemic during the global epidemic. Challenge and recovery. Under Dong Wei’s leadership, Nike continues to promote the development of sports culture in Greater China through iconic brand activities such as the Shanghai Marathon, Nike High School Basketball League (CHBL), ACG Chongli 168 and ‘Down Station Dongdan’.” Nike commented on her in a press release.
Dong Wei comes from a financial background and served as the CFO of Nike China until he moved to the No. 1 position at Nike China. Employees speak well of her, and Nike's operations under her rule have always been relatively standardized.
According to a reporter from 21st Century Business Herald, Dong Wei was promoted to a high position by He Yanfeng, which made her resignation even more unexpected.
The reasons for these changes may be related to the pressure on Nike's performance in China.
In the latest financial quarter ending at the end of November 2025, Nike's sales in China fell 16% year-on-year to US$1.423 billion, and EBIT (profit before interest and tax) fell 49% year-on-year. Among them, Nike's direct business fell by 18% (digital business fell by 36%, store business fell by 5%); wholesale business fell by 15%.
"Store traffic has declined, product sales rates have been weak during the season, and the overall aging inventory level in the market is high. Our brand has gradually become a discount brand in the minds of consumers (especially in digital channels), which has affected the high-end positioning of the entire integrated market. These challenges have led to an increase in the proportion of discount sales and a decline in price The cycle of expansion, increased sales-related returns, higher wholesale discounts, and high scrapping costs to clear market inventory has had a significant impact on the profitability of Greater China," Matthew Friend, Nike's executive vice president and chief financial officer, said at the performance meeting. Friend) explained.
Behind the scenes, competition in China's sports market is becoming fiercer.
For example, amid market fluctuations, the growth rates of Anta Group's basic ANTA brands and FILA have slowed down significantly. In 2025, Anta's main brand sales increased by 3.7% year-on-year to 34.754 billion yuan; FILA brand revenue increased by 6.9% year-on-year to 28.469 billion yuan. In the same year, Li Ning's revenue increased by 3.2% year-on-year to 29.6 billion yuan.
The person who took over Dong Wei's position in Nike China was Cathy.
According to Nike, Cathy has 25 years of experience working for Nike. She started her career in a retail position at the Portland Niketown store and subsequently held important leadership positions in multiple markets around the world. She previously served as vice president and general manager of Nike Asia Pacific and Latin America (APLA) and has experience in driving business transformation and growth.
"Cathy has a profound insight into sports culture and will lead the Nike Greater China team to continue to deepen the connection with consumers and open a new chapter in leading Nike Greater China." Nike said.
Compared with Dong Wei, Cathy has relatively limited experience in China. Her advantage is that she has a retail background and more “globalization” experience.
This may imply that Nike is adjusting its direction in China. For example, store adjustment has always been the focus of Nike's reform in China. At the same time, the North American market is the first to resume growth, which may make Nike's board of directors feel that it needs to give the Chinese market some new directions. In the latest financial quarter, Nike's North American sales increased 9% year-on-year to US$5.633 billion.
It should also be noted that as the 2028 Los Angeles Olympics approaches, Nike may need to integrate resources in various market segments in advance. Cathy's professional background may help Nike Greater China better integrate into the global strategy and facilitate the deployment of resources across regions.
However, given the particularity of the Chinese market, Cathy faces considerable challenges.
For example, the strong rise of more localized domestic brands can be explained by their market share. Euromonitor data shows that in 2021, Adidas' market share in China reached 15%, which has dropped to 8.7% in 2024. For comparison, Nike's market share fell from 18.1% to 16.2%, maintaining its first position. Anta's market share increased from 9.8% to 10.5%, ranking second.
According to the 21st Century Business Herald reporter, Cathy is very interested in the Chinese market and is quickly adapting to the new position in various ways.
Returning to Dong Wei, joining Sequoia China will indeed open up new possibilities.
Sequoia China attaches great importance to the apparel track. In December 2025, Sequoia China disclosed that it would acquire a controlling stake in Golden Goose Group SpA. Golden Goose's flagship product is the famous "little dirty shoes".
In addition, Sequoia China’s invested companies in the fashion industry include Xiyin, AMI PARIS, etc.
Whether it is post-investment or project review, Dong Wei’s Nike experience is helpful to Sequoia China.
In terms of asset size, WeBank ranks first with a scale of 220.037 billion yuan (accounting for 35% of the total assets of all private banks).
The establishment of private banks was accelerated. Following the approval of Jiangxi Yumin Bank in May this year, Wuxi Xishang Bank Co., Ltd. (hereinafter referred to as "Xishang Bank") was recently approved for establishment, becoming the second private bank in Jiangsu Province and the 19th approved private bank in the country.
The announcement shows that Xishang Bank is positioned as an Internet of Things bank, mainly serving the real economy, especially small, medium and micro enterprises and related technological innovation enterprises such as the Internet of Things. It is worth mentioning that the successive approvals of Jiangxi Yumin Bank and Xishang Bank also reflect the increasing trend of private bank expansion due to the release of policy dividends. Currently, Henan Huamao Bank is also actively preparing.
Two A-share listed companies participated in the
On the evening of September 17, Jiangsu Hongdou Industrial Co., Ltd. (hereinafter referred to as "Hongdou Shares (600400, Share Bar)") announced that the company plans to jointly sponsor the establishment of Xishang Bank, with a total of 8 sponsors and a planned registered capital of 2 billion yuan. In accordance with regulatory requirements, Xishang Bank will complete the preparatory work within the next six months. After the preparatory work is completed, it can submit an application for opening to the Jiangsu Banking and Insurance Regulatory Bureau.
Among them, Hongdou Co., Ltd. plans to invest 100 million yuan with its own funds, holding a 5% shareholding ratio; Hongdou Co., Ltd.'s controlling shareholder Hongdou Group Co., Ltd. (hereinafter referred to as "Hongdou Group") plans to invest 500 million yuan with its own funds, holding a 25% shareholding ratio. In addition to Hongdou Co., Ltd. and Hongdou Group, there is another listed company, Suzhou Kelida (603828, Guba) Decoration Co., Ltd., with a shareholding ratio of 9.95%. In addition, the second largest shareholder, Jiangyin Chengxing Industrial Group Co., Ltd., has a subscription ratio of 24%. The company is also the controlling shareholder of the listed company Chengxing Shares (600078, Share Bar).
Except this. The subscription ratios of the remaining four sponsors are as follows: Nanjing Dele Technology Co., Ltd. (9.99%), Xingda Investment Group Co., Ltd. (9.99%), Jiangsu Shuangxiang Group Co., Ltd. (9.95%), and Sensing Technology Wuxi Co., Ltd. (6.12%).
According to the announcement, Xishang Bank is positioned to explore and build an Internet of Things bank using mobile finance and Internet of Things technology. It plans to provide a variety of financial products for the growth and development of the real economy, especially small and medium-sized enterprises and related technological innovation enterprises such as the Internet of Things, build a multi-level financial market, and enhance the comprehensive financial competitiveness of the Wuxi region.
Hongdou Co., Ltd. stated that the establishment of Xishang Bank is based on the good development prospects of private banks, further broadening investment channels, and cultivating new profit growth points; at the same time, seizing the development opportunities of the Internet of Things financial business, leveraging Xishang Bank’s segmented strategic positioning and resource advantages, providing comprehensive financial services such as payment and funds for private and small and micro enterprises in the industry chain, and continuing to enhance market competitiveness.
In fact, before Xishang Bank was approved for establishment, Hongdou Group had extensive financial business deployment, covering small loan companies, finance companies, commercial banks, insurance companies, guarantee companies, financial leasing, private equity funds, etc. Among them, the reporter inquired about Qixinbao and found that Hongdou Group has invested in banks including Bank of Jiangsu, China Guangfa Bank, and Wuxi Rural Commercial Bank. Among them, Jiangsu Hongdou International Development Co., Ltd. holds 4.49% of the shares of Wuxi Rural Commercial Bank, making it the fourth largest shareholder of the bank.
Public information shows that Hongdou Group was established in June 1992. Its products have developed from the initial knitted underwear to four major fields: textiles and clothing, rubber tires, yew health, and park development and commercial real estate. It ranks among the top 100 private enterprises in China. The group has more than ten subsidiaries, including two main board-listed companies, Hongdou Co., Ltd. and General Motors Co., Ltd. (601500, Stock Bar), and has overseas branches in New York, Singapore, Spain and other countries.
Zhou Haijiang holds 33.86% of the shares of Hongdou Group and is the largest shareholder. He is the Party Secretary, Chairman of the Board and CEO of Hongdou Group. As of the end of 2018, Hongdou Group's total assets were 43.113 billion yuan, net assets were 13.857 billion yuan, operating income was 18.292 billion yuan, and net profit was 557 million yuan.
Speeding up the establishment of private banks
Since the beginning of this year, policies favorable to the profitability of private banks have been continuously released. The government work report clearly stated that the financial system structure should be reformed and optimized, and private banks and community banks should be developed. The China Banking and Insurance Regulatory Commission also issued a document previously stating that it will continue to follow the principle of "mature banks, established banks" to orderly promote the normal development of private banks.
Against this background, as an important supplement to my country's financial system and an important force in inclusive finance, the development of private banks has received great attention, and the "capacity expansion" trend continues to heat up. In May this year, Jiangxi Yumin Bank was approved for establishment. At that time, more than two years had passed since the last private bank had obtained approval.
The private bank pilot program was launched in 2014, and five pilot private banks were approved that year; by 2016, 12 private banks were approved. However, since 2017, the establishment of private banks has been put on pause. In 2017 and 2018, no one was approved for establishment, and the number of banks has remained at 17. This year, two banks have been approved. In addition, Henan Huamao Bank is also actively preparing for the establishment of private banks.
Private banks are playing an increasingly important role in my country's financial system. In the reform of the LPR (loan market quotation rate) formation mechanism implemented in August this year, two Internet banks, WeBank and MYbank, were selected as 18 quoting banks.
However, overall, the operating conditions of the 17 private banks that have opened are quite different. For example, in terms of asset size, WeBank ranks first with a scale of 220.037 billion yuan (accounting for 35% of the total assets of all private banks), and is 120 billion yuan higher than the second-placed online merchant bank (95.864 billion yuan). The total assets of WeBank and MYBank account for about half of the total assets of all private banks.
According to many industry insiders, private banks are faced with the pressure of narrow funding sources and high funding costs. According to data from the China Banking and Insurance Regulatory Commission, as of the end of 2018, the net interest margin of private banks was 3.49%, which is higher than the average level of other types of banks. Some people say that private banks need to focus on industries, scenarios, and business models in the future, make full use of shareholder resources, make extensive use of external cooperation, rely on financial technology momentum, and continue to innovate products.
A lot of people buy gold jewelry during the Chinese New Year. They wear it for themselves, give it to their families, or prepare for weddings. They are afraid of spending a lot of money to buy fake, gold-plated, or defective products. Many people only look at the style and price when buying gold, but ignore the small steel seal on the jewelry - this is the "identity card" mandated by the state, and it is also the simplest and most effective way for ordinary people to distinguish authenticity.
1. First remember: there are only these types of regular real gold and steel seals.
The country now has clear standards. A real gold stamp must have a material letter + a purity number, both of which are indispensable. The stamp must be clear and neat, not blurry or distorted.
The common types of formal stamps are as follows:
- Pure gold, pure gold 999, Au999, G999 (pure gold)
- Au750, 18K (18K gold)
- Au916, 22K (22K gold)
Note: In 2026, the terms "Thousand Pure Gold" and "Ten Thousand Pure Gold" have been uniformly cancelled. Regular stores will only label "Pure Gold". If you continue to label it with the old name, be sure to pay more attention. The real gold stamps are pressed by machines and are clearly visible. They are usually located on the inner wall of rings, necklace clasps, and bracelets.
2. Don’t buy these three kinds of steel seals no matter how cheap they are. They are not real gold at all.
The first type: only engraved numbers, no Au/G/pure gold, for example, only 999, 9999. This is the most common fake pattern on the market. There is no material prefix, and the purity is not guaranteed at all. Most of them are gold-plated copper and fake alloys, which are not recognized by testing or recycling.
The second type: with the letters GP, GF, KF, KP, KGF, go directly when you see these letters. GP is gold-plated, GF is gold-filled, and KF is imitation gold. There is only a thin layer of gold skin on the surface, and the inside is full of other metals. After being worn for a long time, it will fade, turn black, and become allergic. The cost is extremely low, but it is often sold as real gold.
The third type: the steel seal is blurred, incomplete, hand-engraved, and too shallow to be seen clearly. Regular brand stamps are neat and clear, but they are blurry, missing words, out of order, and hand-engraved. They are basically defective products or fakes from small workshops. Don't believe them no matter how the merchants explain "workmanship issues."
3. Take a closer look when buying gold, and you can avoid 90% of pitfalls
There is no need for complicated techniques, just remember three simple actions, and you will be sure to buy gold without risking any mistakes.
First, there must be a material prefix, choose one of Au, G, and pure gold, plus a number, even one less will not work.
Second, don’t buy products without labels, random labels, hand-labeled products, or irregular stamps, no matter how good-looking or cheap they are, don’t buy them.
Third, if the three matches are correct, the jewelry stamp, label, and certificate information are consistent. If they don’t match, just give up.
Especially low-priced gold in live broadcast rooms, gold in scenic spots, and gold transferred privately, it is easiest to manipulate the steel seal. Don't be greedy for cheap, and don't believe in "internal prices, low-quality goods, and tax-free gold." It is more reliable to look for the steel seal than anything else.
4. Don’t be deceived when buying gold. Compliance is the key to peace of mind.
Gold jewelry is valuable not in its style, but in its authenticity and purity. The steel seal is a line of protection given by the state to consumers, and it is also a rule that merchants must abide by. By understanding the steel seal, you can quickly tell the authenticity from the fake without gold inspection or fire, and avoid wasting money.
In 2026, market supervision and random inspections will become increasingly strict, and false labels and fakes will be strictly investigated, but personal consumption still needs to be more careful. Only by not chasing low-price gimmicks, not believing in verbal promises, and only recognizing the standard stamp can you spend your money wisely and wear it with confidence.
Whether buying bracelets, necklaces, rings, or pendants, first look at the steel seal before negotiating the price, and then buy if it complies with regulations. This is not only to protect your own rights and interests, but also the most practical way to stay away from fakes.
#TopicDiscussion# Do you take the initiative to look for the steel seal when buying gold? Have you ever encountered a strange or unclear stamp? Chat about your gold buying experience in the comment area
China News Service, Haikou, March 30 (Zhang Qianyi Huang Ark) Haikou City recently issued the "Haikou City Three-Year Action Plan for Improving Quality and Efficiency in Scientific and Technological Innovation (2026-2028)" (hereinafter referred to as the "Action Plan"), which clarifies the roadmap for scientific and technological innovation work in the next three years. It strives to add more than 30 innovation platforms at the municipal level and above by 2028, and accelerate the establishment of an "industry-city integrated innovation city."
At a press conference held on the 30th, Feng Yong, deputy mayor of Haikou City, said that the "Action Plan" closely follows the scientific and technological innovation development goals of the "15th Five-Year Plan", focuses on "the integration of talents and science and technology innovation, and the integration of innovation and industry", promotes the implementation of "six major projects", and clarifies 17 key tasks.
According to the "Action Plan", Haikou will implement the quality improvement project of science and technology innovation platforms. Focusing on the three key points of capacity improvement and upgrading of innovation platforms, expansion and increment of innovation and incubation carriers, and support and guarantee of public technical service platforms, Haikou will start the construction of a "Science and Technology Innovation Circle around Hainan University" and build a matrix of high-energy science and technology innovation platforms. In terms of the introduction and training of innovative subjects, we focus on three major directions: gradient cultivation of scientific and technological enterprises, "nurturing elites and talents" of state-owned enterprises, and supporting corporate technological innovation, so as to continuously enhance the status of corporate innovation subjects.
The achievement transformation and efficiency improvement project is a highlight of this Action Plan. Haikou will focus on promoting the construction of the Hainan Free Trade Port as an international science and technology market, and strive to build Haikou into the first choice for international scientific and technological achievements, the introduction of international capital and the overseas export of domestic scientific and technological achievements, a domestic technology trading innovation demonstration zone, and a general hub for Hainan technology transfer and transformation.
In terms of the introduction and education of innovative talents, the press conference introduced that Haikou will deepen the reform of the integration of education, science and people, and strive to improve the multi-level talent introduction and education system from three aspects: building a higher education science and innovation resource cluster, promoting the two-way flow of scientific and technological talents, and building a full-chain talent service guarantee system. At the same time, through the implementation of science and technology innovation service optimization projects, we will improve the science and technology financial service system and deepen the regional collaborative innovation mechanism.
The "Action Plan" clarifies the specific goals in three years: to add more than 30 municipal-level and above innovation platforms, to add more than 3 national-level innovation platforms; to add more than 45 new scientific and technological innovation carriers; to add more than 100 new high-tech enterprises, and to add innovative small and medium-sized enterprises and "specialized enterprises". There are more than 300 "Jingte New" enterprises and national "Little Giant" enterprises; more than 150 science and technology plan projects have been established, more than 50 achievement transformation projects, the ratio of technology contract turnover to regional GDP has reached 2%; more than 3,000 new high-level talents in the field of science, industry and information technology have been added.
According to the "Action Plan", in the next three years, Haikou will also focus on the innovation needs of key industries such as biomedicine, embodied intelligence, brain-computer interfaces, and biomanufacturing, focusing on improving the quality of key laboratories, technology innovation centers, engineering research centers and other platforms; focusing on improving the effectiveness of carriers such as technology business incubators, maker spaces, and pilot bases; focusing on improving platform service capabilities such as inspection and testing, R&D design, scientific research instrument sharing, and intellectual property services to provide one-stop, full-process scientific and technological services for innovative entities.
During the "14th Five-Year Plan" period, Haikou made significant progress in scientific and technological innovation, ranking 42nd in the list of the top 100 cities with innovative capabilities nationwide. Feng Yong said that during the "15th Five-Year Plan" period, Haikou will continue to promote the in-depth integration of the talent chain, innovation chain, industrial chain, and capital chain, and strive to build a distinctive talent gathering and technological innovation highland. (over)
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Follow-up: So, have you checked the DNS? Is there no DNS anymore? ipconfig/all, if there is one, try changing it, for example, try changing it to 4.4.4.4.
Follow-up question: I have tried all these, and the firewall is also turned off. . . . I also tried DNS, it really crashed without using a proxy.
Follow-up: Have you tried multiple pages, such as www.baidu.com such as www.360.cn? If that doesn't work, try another browser? Also, is there something wrong with lsp? Wait, you used a proxy?
Follow-up question: I don’t know how to upload pictures. The following error message from the webpage is that the proxy server is not responding. Check your proxy settings 127.0.0.1:8087. Go to Tools > Internet Options > Connections. If you are on a LAN, click LAN Settings. •Make sure your firewall settings do not block Web access. •Ask your system administrator for help. Fix connection issues
Follow-up: Have you removed the agent? Don't you use direct dial-up to access the Internet? Remove the proxy settings in IE browser
Follow-up question: I didn’t check the agent option at all. . . I did not use a proxy, but when I reported an error, the proxy server did not respond.
Follow-up: What browser are you using? 360 itself also has a proxy.
Follow-up: How do I give you points? First time using this thing,
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Follow-up question: There are two browsers, one is pure IE, and the other is Google. I am not a computer idiot, but this is the first time I encountered this situation. I have two network cables, and the other one is connected wirelessly, and the web page can be opened normally. . . For example, what we are using now, but switching to wired broadband will not work. . . I'm so angry
Follow-up question: I can’t figure out what problem caused the current error.
Follow-up question: I didn’t make it clear. There is a China Telecom connection and a Great Wall connection. China Telecom uses a modem and a router to connect to the wireless network. The Great Wall broadband connection is directly connected to the computer. If I use China Telecom’s wireless connection, everything is normal. However, the Great Wall connection cannot open the web page. . . But you can log on to QQ and play Dota
Follow-up answer: So that’s it. I think the DNS settings on your network card are not automatically assigned? In addition, it is necessary to refresh the dns before. It's just that the computer can't resolve dns. But Great Wall Broadband has always been rubbish.
Follow-up question: I know this, but the download speed is 12M Telecom and 20M Great Wall. . . It’s still fun to download
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