Author: Zhang Anyuan, chief economist of China Securities.

On November 29th, the CSRC replied to the proposal of the CPPCC, proposing to "make it stronger, better and bigger to build an aircraft carrier-level head broker"; Securities companies will be encouraged and guided to enrich capital, enrich service functions, optimize incentive and restraint mechanisms, increase investment in technology and innovation, improve international layout, and strengthen compliance risk management and control; Actively support all kinds of state-owned capital to inject capital into securities companies by subscribing for preferred shares, common shares, convertible bonds and subordinated debts, and promote the securities industry to become bigger and stronger.

The background of the above statement is obviously related to the huge gap in the development of brokerage industry between China and the United States. Although as far as a single financial institution is concerned, the expansion of scale has objective boundaries, and large and complete, small and beautiful all have their existence values. But influence is bound to be closely related to scale. "Too big to fail" in the financial field is not necessarily a derogatory term, and even every economy must have its "too big to fail" financial institutions. At present, vigorously developing direct financing is an important part of financial supply-side reform, and financial opening-up is accelerating, so it is necessary to put it on the agenda to build China’s world-class giant securities firms.

First, behind the development gap is the difference in the financial system.

In the past 30 years, the development of China’s brokerage industry is obvious to all, and the gap between China and the United States is obvious, and there is no sign of narrowing. At the end of 2018, there were 131 brokerage licenses in China’s whole industry; By the end of 2017, there were 3,801 dealer & broker in the United States. The total assets, operating income and total profit of China’s brokerage industry are similar to those of Goldman Sachs Group (about 63,000 yuan, 2.6 trillion yuan and 84 billion yuan at the end of last year). In 2018, Goldman Sachs Group employed 36,600 people, while the number of domestic registered securities practitioners reached 340,000 at the end of 2018, and the per capita output level was about one tenth of that of Goldman Sachs Group. The primary reason for the huge development gap is the difference between the financial systems of the two countries.

In view of the differences in economic, political, cultural and historical backgrounds, the financial systems of different countries are different. According to the differences in the roles played by financial intermediaries (usually called banks) and financial markets in the financial system, theoretical circles can be divided into two modes: Bank-Based represented by Germany and Japan and Marked-based represented by the United States and Britain.

Market-oriented financial model relies on mandatory information disclosure system, and must be based on perfect external restraint mechanisms such as laws and accounting systems. It is sensitive to price signals. The cost of capital is mainly determined by the market, and risks are mainly shared by different market entities. The political control of government forces over the financial system is relatively weak. The most typical financial institution in this model is the large international investment bank in the United States.

However, the bank-led model is not based on good public information disclosure. The information is mainly occupied by insiders, and the requirements for external legal constraints are relatively low. There are fewer market factors in the decision of capital cost, and the risks are mainly smoothed by sharing at different stages of the economic cycle. The government forces have relatively strong political control over the financial system. The most typical financial institution in this mode is the large state-owned commercial bank in China.

In sharp contrast with the gap between China and the United States, the total assets of China’s commercial banking industry have absolute advantages compared with the United States, and the ratio of total assets of the banking industry to GDP is also significantly higher than that of the United States. In 2018, the total assets of the four major banks in China were all over 20 trillion yuan, of which the total assets of ICBC were 27.7 trillion yuan and the contracts were 4 trillion US dollars (converted at spot exchange rate). However, the total assets of JPMorgan Chase, a local head bank in the United States, are 2.6 trillion US dollars, and Wells Fargo’s total assets are 1.9 trillion US dollars. The volume of mixed operation is still far less than that of China’s large state-owned commercial banks.

China’s securities firms can’t match American securities firms, and American commercial banks can’t match China’s commercial banks. In a sense, this phenomenon is a "feature" and not necessarily a "defect". Theoretically, it is hard to say that one financial system is absolutely superior to another. In the early stage of industrialization and urbanization, banks obviously have advantages in organizing and mobilizing savings funds. At present, China’s medium-level industrialization and urbanization process is coming to an end, and the financial model of mobilizing social funds to invest in specific fields on a large scale needs to be transformed into an equity financing model that is more conducive to encouraging innovation and sharing risks. This special era background requires us to be stronger, better and bigger, and to build an aircraft carrier-level head broker, which does not mean that there are some insurmountable inherent defects in the previous financial development model.

Second, a variety of specific reasons lead to the development gap

In addition to the essential differences in the financial system, the market size, regulatory environment and internationalization gap are the specific reasons for the development gap between China and the United States.

one

There is a big gap in market size.

China’s current GDP is about two-thirds of that of the United States. Since the financial crisis, China’s economy and financing market have developed rapidly, but the financial system’s emphasis on indirect financing has made the scale of the direct financing market of domestic securities firms 3-5 times smaller than that of the United States. According to the current market exchange rate, at the end of 2018, China’s net domestic credit was 29 trillion US dollars, exceeding the US’s 21 trillion US dollars. However, the total market value of stocks is about 6.3 trillion US dollars, which is equivalent to one-fifth of the total market value of American stocks of about 30 trillion US dollars. The stock of the bond market is 13 trillion US dollars, and the stock of corporate bonds is 2.9 trillion US dollars; It is equivalent to about $43 trillion in US bonds and one third of $9.2 trillion in corporate bonds. The difference in market size is bound to be reflected in the scale of institutions.

Comparison of Chinese and American Stock, Bond and Public Offering Markets (trillion US dollars)

Source: IMF, Wind

2

The regulatory environment is obviously different.

Since 2008, the mixed operation of American securities industry has developed rapidly, and head brokers have gradually absorbed deposits. In 2018, the total assets of Goldman Sachs were $931.8 billion, of which $158.3 billion came from customer deposits, accounting for about 17%.

China’s financial industry has obvious characteristics of separate operation and supervision, and brokers must continuously meet strict risk control index standards, including risk coverage ratio of not less than 100%, capital leverage ratio of not less than 8%, liquidity coverage ratio of not less than 100%, and net stable capital ratio of not less than 100%. These risk control indicators require higher net capital of securities firms, and the allocation and scale of capital occupation business such as self-operation and credit are limited. As a result, the net assets of China’s securities firms in the whole industry are three times that of Goldman Sachs Group, and the ROE (in terms of total profits) is only one third of the latter. At the same time, the capital replenishment ability of domestic securities firms is seriously insufficient, which limits the development of the industry.

The risk control index system of American-funded securities firms represented by Goldman Sachs Group is complex, including consolidated capital adequacy index requirements of systemically important financial institutions and industry indicators of subsidiaries. Comparatively speaking, the regulatory environment faced by American-funded securities firms is generally looser than that of China, and there is a lot of room for regulatory flexibility and statement adjustment.

three

The level of international operation is far from each other.

Headquartered in new york, Goldman Sachs Group has offices in more than 30 countries and regions by the end of 2018; 46% of its business headquarters are located abroad, with London, Tokyo and Hong Kong as regional operation centers; The income outside the Americas is around 40%, effectively hedging the domestic business risks in the United States. In contrast, the vast majority of domestic brokers only set up branches or subsidiaries in Hong Kong, and the head brokers have the highest proportion of overseas income, only about 15%. As for business ability and international influence, it is far from it.

Third, the conventional path is difficult to bridge the gap.

It is not a day’s work to improve the international operation ability of securities firms. The vast majority of international operations of domestic securities firms are based in Hong Kong, and the development environment is facing new uncertainties. As for the breakthrough of mixed supervision restrictions and adjustment of risk control indicators, it may not be the focus of regulatory policy adjustment for a long time. Relying on the expansion of the direct financing market, it is not a problem that the overall scale of China’s brokerage industry will surpass Goldman Sachs in the next few years, but it is a long way to go for the industry leaders to reach a similar level and position in terms of scale and competitiveness.

Generally speaking, the scale and development level of China’s head brokers are about the same as those of international advanced investment banks more than 20 years ago. If we talk about some important one-way indicators, the gap is even more significant. For example, in terms of total assets, CITIC Securities was about $95.16 billion at the end of 2018 (roughly converted at the current exchange rate), while Goldman Sachs’ total assets in 1996 were about $152 billion.

Goldman Sachs’ clients are mainly institutional customers in the United States and overseas. In 2018, 37% of its revenue came from institutional customer service. In 2016, the revenue from institutional customer service even reached 47%. Goldman Sachs organized its business framework with customer service as the center, which formed a dual competitive advantage of profitability and risk control. On the other hand, in China, due to the relatively high proportion of retail investors in the domestic stock market, the brokerage business income of domestic head brokers accounts for a relatively high proportion, and all business lines, especially brokerage and investment, are greatly affected by the market.

From its listing in 1999 to the financial crisis, Goldman Sachs developed at a high speed with the help of the wave of economic globalization and the improvement of its capital financing ability brought about by its restructuring and listing, and achieved a six-fold increase in total assets in ten years (1997-2007), which consolidated its leading position in the domestic industry. In the past ten years after the financial crisis, the volume of Goldman Sachs has increased by about 5%.

From the listing of CITIC Securities in 2003 to the financial crisis, the total assets expanded by about 16 times (2003-2007), and the cumulative growth in the decade after the financial crisis (2008-2018) was about 4.8 times. However, in the past three years, the growth rate of total assets has greatly slowed down, only increasing by about 6%. Other head brokers have even seen their total assets shrink in the past three years. Based on the above facts, I’m afraid we can’t expect to solve the problem of insufficient size of head brokers through limited industry increment.

Fourth, it is necessary to take multiple measures to build an aircraft carrier-level head brokerage firm.

Capital injection into securities companies is a necessary condition for becoming stronger, better and bigger brokers. Besides, more measures are still needed.

one

Merger and reorganization

Before the financial crisis, CITIC Securities acquired CITIC Jiantou Securities, CITIC Jintong Securities and Huaxia Fund to achieve rapid scale expansion. The rapid expansion of overseas business of Haitong and CITIC Securities is also closely related to M&A operations. American head brokers have also experienced frequent mergers and acquisitions in history. For example, Goldman Sachs acquired Spear, Leeds, & Kellogg, the largest market makers in NYSE, in 2000.

ROE, a domestic head brokerage, has obvious advantages in the whole industry. In 2018, there were about 7 A-share listed brokers with total assets of more than 300 billion yuan, and the ROE was concentrated between 6% and 8%, which was in the leading position in the industry, significantly higher than the average level of listed brokers and had the strength to initiate mergers and acquisitions. Since the beginning of this year, there have been many cases of different types of mergers and acquisitions.

China’s securities industry implements strict license management, and the occupation of license plates with strong administrative divisions is very scarce. On the one hand, it certainly increases the difficulty of market-oriented mergers and acquisitions, but on the other hand, it also provides special convenience for administrative means to promote industry integration. A number of provinces and cities holding more than two brokerage licenses seem to have the necessity and possibility to consider promoting the merger and reorganization of local state-owned holding brokers.

There are basically brokers in all provinces and cities across the country (number)

Source: Securities Association

2

Group expansion

In 2008, Lehman Brothers went bankrupt, Bear Stearns and Merrill Lynch were acquired by Bank of JPMorgan Chase and Bank of America respectively, and Goldman Sachs and Morgan Stanley began to accelerate their mixed operations. At present, the balance of Goldman Sachs’ debtors’ deposits accounts for about 17% of the total assets, and other head investment banks have a higher degree of mixed operation. The group background of commercial banks makes investment banks gain a higher volume advantage.

The reply to the proposal puts forward to support state-owned capital injection into securities firms, but which kind of state-owned capital injection is more conducive to the development of securities firms needs further screening. Perhaps it is most desirable for domestic commercial banks to inject funds into brokers. First, because China’s commercial banks have the advantages of scale, channels and customers, it is convenient for brokers to develop institutional business; Second, the combination of investment and loan and the development of financial subsidiaries of commercial banks increasingly need the cooperation of brokers; Third, the settlement funds of brokerage transactions still need to be kept by the third party of commercial banks, and liquidity endorsement cannot be separated from commercial banks. The above aspects obviously require the regulatory authorities to re-examine the current development policies of financial holding groups, and to some extent, there are new institutional breakthroughs. Article 43 of the Law on Commercial Banks (commercial banks are not allowed to engage in trust and securities investment business in China) may also need to be revised, otherwise commercial banks will still have to bypass overseas and invest in the equity of domestic brokers through wholly-owned subsidiaries abroad.

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Original title: "The gap between Chinese and American brokers is a bit big, and the entire brokerage industry is only one enemy of Goldman Sachs! How to build an aircraft carrier-level head broker? Two paths to be stronger, better and bigger "

Original chestnut pie chestnut pie ChestnutMates

Seeing that the Spring Festival is approaching, how is everyone preparing for the New Year’s goods?

I heard that cherries are the standard for Chinese New Year! Not only does it look festive, but it tastes great.

However, many people still don’t know what nutrients it has and what to pay attention to when eating. Let’s talk about it today.

Two "nutrition rumors" of cherries

Cherry is really a good fruit: it has high value, good taste, no effort to eat and no dirty hands, and it is also very nutritious.

According to legend, cherries have two "benefits":

1. iron supplement and blood supplement?

The red color of cherries is the result of the continuous accumulation of anthocyanins, a polyphenol compound, and is not an "iron" element combined with hemoglobin in the blood.

The iron content of cherries is not high, which is almost the same as that of apples and pears.

2. vitamin c explodes, whitening full marks?

According to the data of American food ingredient bank, the vitamin C content of cherries is 7 mg/100 g..

This amount is low in fruits, similar to apples and pears. Not as good as oranges (28mg/100g) and other citrus fruits, nor as cheap vegetables as Chinese cabbage (31mg/100g) and radish (16mg/100g).

▲By Benson Kua-wikimedia.org

Four nutritional highlights of cherries

Cherry has no advantage in supplementing iron and vitamin C, but in fact, it still has many remarkable points-

1. Rich in fiber

As a kind of fruit with skin to eat, cherries have advantages in supplementing fiber.

According to the data in the American Food Composition Table, the fiber content of cherries is 2.1g/100g, which is more than that of peeled fruits such as oranges (0.4g/100g), pears (0.9g/100g) and bananas (1.4g/100g).

2. low 2.GI

Every 100g of cherries contains about 13g of sugar, of which about 5g is fructose. Fructose has a high sweetness, but its GI (glycemic index) is far lower than that of glucose.

In addition, cherries are rich in fiber, and dietary fiber has a certain effect of delaying the rise of blood sugar, so the blood sugar response of cherries is actually relatively low. Studies have shown that the GI value of cherries is only 22[1].

3. High potassium and low sodium

Many fruits are characterized by "high potassium and low sodium", and cherries are no exception, containing about 222mg of potassium per 100g g. High potassium and low sodium are helpful for the prevention and treatment of hypertension.

Compared with the high-potassium fruit that is often cited as an example, cherries are inferior, but their calories are much lower than bananas. Therefore, looking at the potassium content per unit calorie, cherries are even better.

4. Rich in antioxidant substances

The color of cherries comes from anthocyanins, a natural pigment with good antioxidant effect. Besides improving eyesight, anthocyanins may play a preventive role in type 2 diabetes, cardiovascular diseases and inflammatory diseases.

However, this ingredient is not unique to expensive cherries. Plums, purple cabbage, red beans, purple potatoes and many other cheap dark foods are found.

▲ Usually, the darker the color, the higher the anthocyanin content, by Marc-Lautenbacher.wikimedia.org.

In addition to these phenolic antioxidant components, cherries also contain an antioxidant component. Many foods contain this substance, and cherries are one of the higher contents in fruits.

According to a study, the melatonin content of Hongdeng and Rainier cherries is between 10 and 20 ng/g [2].

This amount is far from that of a melatonin (generally 3mg, 1 mg = 1,000,000 ng) swallowed by people when they are jet lagged. However, some small-scale placebo-controlled trials show that eating cherries can improve sleep and relieve anxiety and stress [3].

Other studies have shown that the intake of cherries is related to a lower risk of gout attack [4,5].

So it seems that cherries are still a kind of fruit suitable for chronic patients. Although it is sweet, it has a low blood sugar response and is rich in antioxidant components and dietary fiber.

What should I pay attention to when eating cherries?

Q: What happens when you eat two Jin of cherries in one breath?

A: It may be rare.

Cherry is rich in fiber, and there are more fructose and sorbitol (Rosaceae fruits are rich in sorbitol, which we introduced earlier). These two kinds of sugar have laxative effect when eaten too much.

Therefore, for people with bad stomachs, such as patients with irritable bowel syndrome (IBS), cherries are not the fruits that you can eat freely.

The FDOMAP app developed by Monash University in Australia suggests that it is safer for IBS patients to eat 3 capsules (25g) at a time, and 150g(20 capsules) is too much, so it is necessary to avoid eating so many capsules at a time.

2 kg of cherries, there must be more than 100, and people with good stomachs may not be able to stand it.

Anthocyanins that are not absorbed will be excreted through feces, and the color of feces may change a little.

In addition, eating without restraint will also make you fat. The cola we usually drink contains about 10% sugar, and the sugar content of cherries is much higher than that of cola. Generally, we regard the fruit with sugar content above 12% as "high-sugar fruit", and cherries are properly high-sugar fruits.

Many people on the Internet say that they "dazzle 2 pounds of cherries a day", and the removal of the core from 2 pounds of cherries is about 900g, which translates into more calories than a McDonald’s Big Mac.

Dietary guidelines for China residents recommend eating 200~350g of fruit every day, which is about 25~40 cherries.

Which is better, "cherries" or "cherries"?

There are many arguments about the difference between the two:

These are actually inaccurate.

Cherry is a transliteration of English "cherries", so "cherries" means cherries.

But the cherries represented by cherries and the traditional cherries in China are not the same kind of cherries.

Cherry, now the basic default is "European sweet cherry". Cherry abroad mainly includes European sweet cherry and European sour cherry. Sour cherry is generally used to make jam and is not eaten raw. They belong to different species and are different species from the traditional cherries in China. .

However, the species "European sweet cherry" was introduced to Shandong for planting by foreign missionaries long ago. Today, Shandong big cherry is also famous.

Cherry ripens in greenhouse in China from March to April, and in open air from May to July. After the end of domestic production, American cherries mature in August-September, followed by Canadian cherries in early autumn; In late November, Chilean cherries ripened, and from December to February, Chilean cherries went on the market.

All the year round, perfect connection.

In fact, there is only "cherry" in the classified information table of customs import and export commodities, and there is no "cherry" at all. Just choose the one you like (m ǐ i), enjoy (de) and eat (qǐ). After all, there is not much difference in nutrition between these cherries.

▲ The data of European sweet cherry and European sour cherry come from American food ingredient database, and the data of two China cherries come from Taiwan, China food ingredient database.

Whether cherries or cherries, they are very fragile and can’t be preserved. After a long time, the face value and taste will decrease, and the taste will become weaker and lighter, and browning will occur.

If you can’t eat a big box, you can clean it, dry it and freeze it.

You can eat it in three to five days, and you should also pay attention to proper preservation: first pick out the bad fruit, and the rest don’t need to be washed. Washing it is not conducive to preservation, just wash it before eating; Don’t leave the refrigerator open, water will easily run off.

Today interaction

Do you have cherries in your new year’s goods list?

reference data

[1]McCune, Letitia M et al. “Cherries and health: a review.” Critical reviews in food science and nutrition vol. 51,1 (2011): 1-12. doi:10.1080/10408390903001719

[2]Meng, Xiao et al. “Dietary Sources and Bioactivities of Melatonin.” Nutrients vol. 9,4 367. 7 Apr. 2017, doi:10.3390/nu9040367

[3]Garrido, María et al. “The consumption of a Jerte Valley cherry product in humans enhances mood, and increases 5-hydroxyindoleacetic acid but reduces cortisol levels in urine.” Experimental gerontology vol. 47,8 (2012): 573-80. doi:10.1016/j.exger.2012.05.003

[4]Jacob, Robert A et al. “Consumption of cherries lowers plasma urate in healthy women.” The Journal of nutrition vol. 133,6 (2003): 1826-9. doi:10.1093/jn/133.6.1826

[5]Zhang, Yuqing et al. “Cherry consumption and decreased risk of recurrent gout attacks.” Arthritis and rheumatism vol. 64,12 (2012): 4004-11. doi:10.1002/art.34677

[6]https://fdc.nal.usda.gov/fdc-app.html#/food-details/171719/nutrients

[7]https://fdc.nal.usda.gov/fdc-app.html#/food-details/173954/nutrients

Edit | Hawthorn

Design | grapefruit

❝

The above information is only popular science and should not be regarded as medical advice.

Can not replace the doctor’s individualized judgment on a specific patient.

❞

Original title: "Cherry sugar is higher than coke! Do you dare to show off 2 pounds after reading it? 》

Read the original text

Seeing the new generation, the design is completely new. In terms of appearance, the guard adopts Land Rover family-style lines, the front grille is very ordinary, the square headlights on both sides are quite angular, and the headlights on both sides look very energetic after being lit. Judging from the waistline of the car body, the new car is still a simple body shape, and the tradition of wide C-pillar can be continued. In addition, with the large-size wheel hub design of inch, its sports atmosphere is more intense. The design of the rear of the car is more dynamic, generous and solid, and the design of the taillights is more interesting, which shows personality after lighting.

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The length, width and height are 5018×2008×1967mm respectively, and the wheelbase has reached 3022 mm. In the same class, the wheelbase of Guardian ranks 33rd. As an SUV, its body size does not occupy much advantage in its class, and its internal seating space is only basically enough. After all, it is limited by the length and shape of the body. The skylight of Guardian 110 5.0S 525PS V8 provides a wider field of vision, which can create a better visual environment and good sensitivity for the rear passengers and increase the light entrance for the whole vehicle. Among the models of the same price and class, the trunk volume of the guard ranks 8 th. The space is relatively regular, without obvious protrusions, and the overall loading capacity is good.

Land Rover Defender is equipped with a combination of 5.0 supercharged engine (direct injection) and automatic manual (AT). It will definitely bring unforgettable control charm. The official measured zero-acceleration score of Guardian is 5.4S, ranking 107th among more than 800,000 SUV models.

Guard’s active/passive security configuration is complete, includingAutomatic parking、Zero tire pressure endurance tire、Automatic parking、Steep slope descent、hill start assist control、knee airbag、HUD head-up display、Anti-lock braking (ABS)、Braking force distribution (EBD/CBC, etc.)、Brake assist (EBA/BAS, etc.)、Traction control (ASR/TCS, etc.)、Active noise reduction、Engine start and stop、Side safety air curtain、Wireless charging of mobile phone、night vision system、LED daytime running lights、Forward reversing radar、Tire pressure monitoring、Steering wheel heating、Body stability control (ESP/DSC, etc.)、Rear reversing radar、Fatigue reminder、Remote parking、Child seat interface、Lane keeping (LKAS)Equal configuration.

Among them,Automatic parkingYou can avoid stepping on the brakes for a long time or needing to pull frequently;Steep slope descentCan safely pass through steep slope road conditions at low speed;knee airbagReduce the injury of the car interior to the occupant’s knees in the secondary collision.

In addition to the above description, we can also go to the Easy Car Forum to browse more real car feedback from actual buyers, or use our experience.

　　People’s Daily Online, Tokyo, June 18 (Xu Yongxin) According to the Japan Meteorological Agency, an earthquake measuring 5.9 on the Richter scale occurred in the northern part of Osaka Prefecture, Japan at around 7: 58 local time on the morning of the 18th, with a focal depth of about 10 kilometers. According to NHK TV, three people were confirmed dead and 51 injured.

　　According to the current affairs news agency, on the morning of the 18th, the Japanese government set up a bureaucratic countermeasure room in the crisis management center of the Prime Minister’s official residence to collect information. Japanese Prime Minister Shinzo Abe demanded immediate knowledge of the victims and accurate information for the public. Shinzo Abe stressed to reporters: "In line with the basic policy of putting human life first, the government will respond in unison and will join hands with local governments to ensure foolproof."

　　According to NHK TV, so far, it has been confirmed that a 9-year-old girl, an 80-year-old man and an 80-year-old man have died and 51 people have been injured.

　　According to the introduction of the fire headquarters in Gaochun City, Osaka Prefecture, many people were injured in the city, and a fire broke out in a residential building, but it was quickly put out, and there was no injury caused by the fire.

　　According to Kansai Electric Power and other news, about 170,000 households with Osaka Prefecture as the center have power outages, which are currently being urgently repaired. There are no abnormalities in the four atomic power stations located in Fukui Prefecture.

　　According to the news from JR Tokai Company, the interval between Mihara Station and Shinosaka Station of Tokaido Shinkansen was suspended. According to JR West Japan Company, the section from Shinosaka Station to Okayama Station of Shanyang Shinkansen is out of service. In addition, the Osaka subway line was shut down.

　　In terms of aviation, the navigation of Yidan Airport resumed at 9: 00 a.m., but due to the confusion of transportation to the airport, it may be grounded or delayed. On the other hand, the departure and arrival of Kansai Airport are running as usual.

　　According to NHK TV, the tap water pipeline in Gaochun City broke, and the road collapsed. The collapsed area was about the size of two cars, and the sprayed water column was several meters high, and all the nearby areas were immersed in water. It is also reported that Osaka Natural Gas Company stopped supplying natural gas to about 110,000 users. There have been many cases of being trapped in elevators and calling the police in Osaka and surrounding areas.

　　There are many female stars who are famous for their beauty in the entertainment circle, and there are also many male movie stars who are famous for their martial arts. However, it is not uncommon for female stars who have both talent and beauty and have a good kung fu in movies. Their cool and heroic posture and sexy and beautiful figure on the screen both capture the hearts of the audience.

Halle Berry

　　Halle berry is an American mixed-race actress. Winner of the 74th Academy Award for Best Actress.

Star file　

　　Birthday: August 14, 1966

　　Height: 168 cm

　　Weight: 51 kg

　　Place of birth: Cleveland, Ohio, USA (Caucasian and black mixed-race)

　　Marital status: Married twice, but unfortunately divorced. She had a daughter, Nahla Ariela Aubry, with model boyfriend Gabriel Aubry.

　　Education: Cuyahoga Community College

　　Occupation: actor, model

　　Achievements: runner-up of Miss America in 1986, sixth place of Miss World in the same year, and the first Miss America Achievement Honor Award in 1998.
　
　　　　　In 1999, she won the 57th Golden Globe Award and the 52nd Emmy Award for Best Actress in TV and Film. 　

　　　　　In 2002, she won the 74th Oscar for Best Actress. Best Actress in the 52nd Berlin Film Festival

　　Harry Berry is also an out-and-out basketball fan. He is a big fan of Los Angeles Lakers and Sparks. Because she was busy with the publicity work of postpartum comeback, she missed all the games in the Lakers finals. Now, she focuses more on the WNBA games. When the schedule runs out, she will wave the flag for the Los Angeles Sparks at the Staples Center.

road to fame

　　The 20th Bond film chose the black actress, who is halle berry, the best-selling bond girl so far, and the double winner of Berlin and Oscar.
　　
　　As an actress, halle berry vowed to break the tradition of bikini girls in bond girl and transform herself into a capable black pearl and a strong woman who can play with 007. However, how can a beautiful dark-skinned beauty like halle berry escape the emotional entanglement with 007? This is also halle berry’s first performance after winning the Best Actress Award.
　　
　　In the latest 007 film "Die in a few days", halle berry, who won the Oscar for Best Actress in 2001, plays bond girl. This is her first role since winning the prize. 　
　
　　As the 40th anniversary gift and 20th film of 007 series, the 2002 Die in a Few Days has a total investment of 142 million dollars, setting a new high for Bond films. In order to commemorate this special moment in the history of 007 movies, the historical footprints of the film crew can be said to be all over the world. In this film "Die in a few days", the traces of the first 19 episodes of classic shots or dialogues were secretly hidden. Halle Berry’s picture of hibiscus emerging from the water is for the first bond girl ursula andress. 　　
Main works: Election Pursuit Order, introducing dorothy dandridge, Swordfish.
　
Page 5: Angelina Jolie

Page 9: Jennifer Garner

Page 11: Milla Jovovich

Page 15: uma thurman

Page 18: Yang Ziqiong

Page 20: Jessica Alba

The next page is more exciting.

　　[Global Technology]

　　Author: Deng Bing Unit: Peking University New Media Research Institute.

　　The dark net is usually considered to be closely related to illegal activities, providing criminals with a low-risk cooperation platform and an opportunity to challenge the "border". The covert network based on anonymous communication system has developed into a complex form. However, not only criminals rely on the anonymity of the covert network, law enforcement officers, military institutions and intelligence agencies also need to use the covert network, and they can conduct online monitoring and fishing law enforcement on the covert network, as well as protect anonymous intelligence channels and top secret plans.

　　Dark network has been frequently used as an illegal trading platform for a long time, and the factors to maintain its stable operation and development are closely related to the trust construction mechanism of dark network market. It is of great reference significance to understand the complexity of the transaction process in the dark market and explore the trust mechanism that affects the dark market transactions, so as to understand and destroy the dark market transactions, maintain the cyberspace order and build a harmonious digital governance system.

　　1. Dark network: the space explored from the surface network.

　　In 2006, The Farmer’s Market, the first well-known "dark net", was born. According to the data of Drug Enforcement Administration (DEA), from 2006 to 2009, "Farmer’s Market" developed more than 3,000 users in all 50 states and 34 other countries and regions. By 2011, the total annual transaction volume exceeded $1 million. "Farmer’s Market" deals in almost all kinds of contraband, among which drugs and controlled drugs are the main ones, and it relies on commission to maintain the operation of the dark net. In its heyday, it was called "Amazon in the field of illegal trading". In April 2012, the US Drug Enforcement Administration cooperated with local police and intelligence departments in the Netherlands, Colombia, Scotland, etc. to crush the "farmers’ market" and arrest eight organizers of different nationalities, including Mark William. In September 2014, the founder William was sentenced to 10 years in prison for drug trafficking and money laundering, and the remaining 7 people were convicted except one who died in prison.

　　In October 2013, the Silk Road, which sold illegal drugs, provided digital goods such as malicious software and pirated media, forged documents and provided illegal computer intrusion services, was closed down, and its founder Ulbrite was sentenced to life imprisonment. This incident made the "dark net" surface again and attracted attention.

　　The covert network, also known as the covert network, is a hidden server, which is included in the "deep network". Contrary to the surface network, it exists in the World Wide Web in the covert network. The content that traditional search engines can’t capture requires special software, configuration or permission to log in. It is worth noting that the World Wide Web and the Internet are not synonyms. The World Wide Web is only a part of the Internet, and the websites we can search through traditional search engines are only a part of the World Wide Web-the surface network. The number of domain names in the dark network is 400 to 500 times that of the surface network, and visitors will not leave any traces on it. The deliberately hidden content contained in the dark network may be used for legal purposes, or it may be used to hide criminal acts or other malicious activities. The use of the dark network has attracted the attention of relevant departments and scholars.

　　At present, the most popular and practical anonymous communication system Tor (onion routing abbreviation) is a common way for individuals to access the dark network. The communication of Tor depends on the network composed of volunteer computer nodes using the software, and all the network traffic of users will be encrypted and transmitted through a series of computer nodes of other users in the network, so that the traffic cannot be traced back to the original users. By establishing "hidden service", service providers and service requesters are anonymous to each other in the whole communication process. Tor-based dark network adopts this protocol to maintain the anonymity of dark network users.

　　In the dark network, users can browse classified encyclopedia content by using hidden directory web pages, search contraband and other trading content by using hidden search engines, and communicate through private communication methods by using hidden forums, hidden chat rooms and hidden emails. As scholars have said: "A considerable amount of information is missed by search engines because it is hidden in the depths. This deep field of the Internet has unknown breadth, depth, content and users." The covert network provides an anonymous service and platform for activities such as illegal commodity sales and the organization, communication and cooperation of a series of malicious attackers such as criminals, terrorists and spies, enabling users to evade censorship, access banned content and protect sensitive communications. The dark network mainly trades in bitcoin or other digital currency, and mail is the main communication mode in the dark network market. For sellers, customer evaluation is an important evidence of the reputation of businesses.

　　It should be pointed out that not only criminals rely on the anonymity of dark networks, but also law enforcement officers can deal with a man as he deals with them. In fact, law enforcement personnel, military agencies and intelligence agencies also need to use the dark net. They can conduct on-line monitoring of the dark network, fishing law enforcement, anonymous information channels and top secret plans. Anonymity in the dark network can be used to avoid being censored and attacked by hackers, to protect users from being monitored and eavesdropped, to attack and shut down illegal websites, and to interrupt server attacks and communications.

　　Although individuals may anonymize activities, researchers have been exploring ways to use security vulnerabilities to infiltrate, de-anonymize and track malicious behaviors. In order to identify the source of malicious attacks online and detect the real destination of network traffic visiting dark websites, researchers are constantly developing "de-anonymization" technology that can identify hidden services and individuals to resist the invasion of criminal forces from dark networks. Anonymity in the covert network can also be used to protect the military command and control system on the battlefield from enemy identification and attack; At the same time, you can also shut down websites or interrupt network attacks to intercept enemy communications; It can also be used for anti-espionage activities and spreading false news. For example, the researchers of the Advanced Research Projects Agency (DARPA) Advanced Intelligence Research Project (IARPA) of the US Department of Defense have explored various methods of "finding people who don’t want to be discovered".

　　2. Double-edged sword: anonymous technology and dark network resource mining.

　　The development of dark network economy promotes the rise of anonymous servers, anonymous mailboxes, anonymous mail services and so on. Cryptographic currency has entered the field of vision of ordinary users, but it has brought convenience to people and also opened a new door for economic crimes such as money laundering. The dark net market provides a lower-risk platform for users to illegally trade. In the future, these online black markets will no longer be centrally managed websites such as the Silk Road, but will be a form that disperses the processes of goods, information, payment and feedback, making it more difficult to move.

　　The quantity and quality of dark network resource information are better than those of surface network. The demand for these resource information makes researchers constantly explore ways to efficiently fill the query interface of dark network and obtain dark network resources. For example, scholars of Nankai University classify the information of dark network resources according to their fields, including finance, internet, literature, chemistry and so on, and each of them contains detailed subcategories. The dark network can be accessed through many anonymous nodes decentralized on the network, including Tor or I2P. When using these anonymous communication tools, the IP address of the user remains hidden all the time, and the IP address displayed by the connection with any target website can be anywhere in fact, so it is difficult to capture the source and location of the user. When using Tor, the website URL will change its format. Websites usually end with the suffix "ion" to identify "hidden services", instead of ending with. com,. org,. net, etc. When using Tor to search the Internet, an onion icon Tor browser is usually displayed. The biggest disadvantage of this service is its slowness.

　　According to the Dark Net Report published by the Congressional Research Service in 2017, the average number of daily Tor users in the United States is 353,783, accounting for 19.2% of the average daily Tor users. The United States has the largest number of Tor users per day, followed by Russia (11.9%), Germany (9.9%) and United Arab Emirates (9.2%). As for the communication mode on the dark network, individual users usually choose to start with the social news website Reddit. The sub-section of the dark network in the website often provides a dark network entrance, and the website opens up a platform for users to discuss, but it is not encrypted or anonymous. Individuals who want to use a more secure form of communication can choose to use email hosted on Tor, online chat rooms or private communication. Many anonymous instant chat rooms are hosted on Tor, some do not require users to provide any information, and some require users to register through email.

　　The anonymity and untraceability of the dark network make any user stay anonymous in real time when accessing the dark network, and will not reveal his identity to the server, including criminals who engage in illegal activities. For example, in 2016, official website, a dark trading platform, was attacked by hackers, resulting in a large amount of information in the database being leaked, and countless credit card information and thousands of user accounts being stolen. The attack of "black eating black" not only affected the portal website of cyber criminal gangs, but also affected the original holders of the data.

　　However, anonymous service is not an absolute weapon for illegal activities to "smooth" the network. In October, 2011, the famous hacker organization Hacktivist launched an attack on the dark net, destroying a website called Freedom Hosting, which hosted more than 40 child pornography websites. Hacktivist obtained the user database of the website, which enabled the FBI to trace the real identity of individuals, and has successfully filed criminal charges against 185 of them.

　　3. Dark-net payment: the tip of the iceberg of illegal activities

　　In addition to the anonymity and untraceability of users, traders in the dark world also need to solve the anonymity problem of transaction settlement. Because all countries have strict monitoring methods for the banking system, the criminal behavior based on the dark net will inevitably lead to the tracking risk of the banking system through the traditional bank account. Some scholars believe that the rise of virtual currency such as Bitcoin just solves this problem.

　　As a payment medium, Bitcoin has impressed the public with its anonymity and privacy since its appearance. Every bitcoin payment record in the digital general ledger is called blockchain, which records the transfer of bitcoin between users (essentially a transaction). Blockchain is a distributed bookkeeping technology. Every transaction will be recorded on it, and everyone who accesses the blockchain will have this account book, so Bitcoin itself has certain transparency, because everyone will get the transaction record. Although the Bitcoin wallet has a unique coded identifier, it does not point to the identity of the trader, so it is impossible to know who the trader behind it is.

　　Bitcoin was born in 2009, but at the beginning of its birth, Bitcoin was just an encrypted number. It was not until the "Bitcoin Pizza Day" in 2010 that an American programmer bought a pizza worth $30 with 10,000 bitcoins, which made Bitcoin get the value of $0.003 for the first time. In 2011, the "Silk Road" was born, and cryptocurrency officially became the "official" currency in the dark net market. It solves the anonymous problem of traders’ transaction settlement in the dark market, and makes criminal acts get rid of the risk of being tracked by the traditional financial system.

　　In short, Bitcoin is a decentralized digital currency that uses anonymous peer-to-peer transactions. The user’s address is associated and stored in the "e-wallet", which contains the personal "private key"-a series of secret numbers, allowing the person to spend bitcoin from the corresponding e-wallet, similar to a password. The transaction address and encrypted signature are used to verify the transaction. The wallet and private key are not recorded in the public classification of books, and the electronic wallet can be hosted on the network.

　　Since bitcoin has no issuer, there is no crisis of being frozen like ordinary currency, so it has become a new way for criminals to blackmail. In May 2017, Wanna Cry ransomware became popular all over the world, and virus makers locked in "poisoned" users and demanded to pay a certain amount of bitcoin as the price of unlocking.

　　Dark networks are usually considered to be closely related to illegal activities, providing criminals with a low-risk cooperation platform, such as using anonymous chat rooms and communication services to plan crimes and spread criminal skills. All kinds of contraband, stolen goods and stolen information can be sold for profit.

　　When Facebook leaked user information two years ago, some hackers revealed that the sales amount of related user information in the dark network was very cheap, and the really sought-after information was bank accounts and passwords. Ghost Sec, a hacker organization that cracked down on terrorist organizations, once tracked a bitcoin wallet worth $3 million, confirming that virtual currency has become one of the channels for terrorist organizations to raise funds.

　　However, there is a shortage of activity data about bank accounts and passwords. It is estimated that only about 1.5% of Tor users can access hidden service pages or hidden web pages, and it is unknown how much Tor traffic will flow to any of these websites. It is difficult for ordinary users to touch the boundaries of these websites, and some websites require users to obtain invitation codes to visit.

　　At the same time, the dark network provides criminals with opportunities to challenge the "boundaries", including physical boundaries, physical-network boundaries, and network boundaries. As long as the network can reach, there is the possibility of crime. A large number of studies tend to describe the dark net as a "safe haven" for illegal activities, and call for the supervision of the dark net to reduce the possibility of breeding crimes. Based on the characteristics of easy access, strong concealment, special transaction mode and great harm to public safety, dark network can easily become a channel for spreading obscene information, a platform for trading illegal goods and a safe haven for terrorism. Some researchers believe that to improve the supervision mechanism of dark network, we should first strengthen the prevention and control of propaganda information about dark network, strengthen the supervision of logistics industry and raise users’ awareness of confidentiality. Some scholars also believe that it is difficult to solve the problem of dark network. The most important point is that the complexity of transnational crime and anonymous mechanism make the threat posed by dark network not limited by region, especially the advantages of blockchain technology provide great convenience for the criminal activities of dark network. Scholars who study the terrorist crimes in the dark net believe that even though criminals in the dark net are more concealed in ways and means than those in the surface net, in order to improve their anonymity and security, users need to update their tools frequently and be familiar with all kinds of auxiliary software, thus raising the technical threshold for using the dark net. Therefore, the criminal activities in the dark net are auxiliary in function and are not the "culprit" of rampant criminal activities.

　　4. Dark Net Sellers: How to Build Trust

　　Although trust is a very personal emotion, under the escort of anonymous technology, sellers of dark networks must also expand their user groups and market their products, technologies and services by building trust with buyers. Reputation is as important to dark net sellers as to surface net and real buyers. For a dark network that cannot conduct face-to-face transactions and is not bound by any trading laws and regulations, buyers should not be able to establish trust with sellers under normal circumstances. However, the actual situation is just the opposite. It is rare to fail to deliver goods or sell defective products on the dark network. Based on the research conducted by Nicolas Christin, a scholar at Carnegie Mellon University, on 184,804 feedbacks on the Silk Road in eight months, the favorable rate of products on the dark network is as high as 97.8%.

　　Like Airbnb landlords or sellers of surface online shopping platforms, the "suppliers" in the dark network also attach great importance to their "brand" reputation and customer satisfaction. Generally speaking, the supplier interface of the secret network will contain the following information: the total amount of transactions completed, the registration time of suppliers, the last login time of suppliers, other important aliases of suppliers, competitive advantage, refund strategy, postage and delivery method. Make sure that even if the buyer doesn’t buy the goods they offer in the end, he will be deeply impressed by the credibility of the seller.

　　In fact, the marketing strategy used in the dark network is an imitation of the marketing strategy of ordinary e-commerce They will not only present product pictures on the page, and mark the price, place of shipment, place of delivery, inventory, creation and update time, seller’s evaluation, etc., but also have discount activities (such as buying two for one), special member prices and additional benefits to provide a refund guarantee for dissatisfied buyers. Dark net sellers will even promote sales through marketing techniques such as "limited inventory" and "limited supply". Some suppliers who are eager to occupy the market or newly established will establish their brand image by providing services such as "free samples", "the lowest in the whole network" and "evaluating transactions", and will also promote promotional activities by setting up "festivals" in the dark network. For example, the dark net will also celebrate "Black Friday" and carry out discount activities. The future of the dark network market does not depend on anonymous networks, bitcoin, or other encryption methods. What can really retain customers is excellent user service and experience.

　　Competitiveness, credibility and sincerity are the three basic elements for dark net sellers to build trust. In order to highlight the reliability, the buyer encourages the seller to comment on the speed of reply, whether the communication is smooth, and whether the way of transporting the goods is safe enough. Feedback from buyers, whether positive or negative, cannot be deleted. "Good credit mechanism" attracts sellers from offline market to dark net. Generally speaking, we don’t equate the dark net with the ordinary online community, but there is a strong sense of community in the dark net market. For example, users will chat in the community on Reddit (social media platform) and publicly condemn the sellers who are dissatisfied with the dark net. As james martin, an American management and information expert, explained in his research on drugs in the dark net, the dark net has its own order, and the users in the dark net also look at other people’s behaviors with the standard of honesty, without relying on experience or individual evaluation, but relying on the group judgment of the whole dark net community to make a choice.

　　Some related industries came into being, for example, some websites will use professional testers to provide random testing services for drugs sold in the dark net. For example, a dark network website will immediately update the dark network market ranking and product testing progress with the highest favorable rate. Users can send the purchased samples to a drug testing laboratory independently established by the community for testing, and then they will feed back the test results to users. No matter "cutting corners" or "shoddy", the results will be published on this website, revealing the information of suppliers who sell such products, and untrusted suppliers will be expelled from the dark market.

　　As mentioned above, every bitcoin payment record in the digital general ledger is called blockchain, which records the transfer of bitcoin between users. This distributed bookkeeping technology enables the dark network to form an independent virtual society, with its own independent and closed credit system, which is not controlled by the offline credit system, and is also difficult to be tracked by means of supervising criminal activities.

　　A few days ago, officials of the US Securities and Exchange Commission issued a statement saying that Bitcoin and Ethereum are not securities. Previously, they also warned users about the risks of Bitcoin trading. The Chinese government completely bans virtual currency ICO (initial currency issue, blockchain term) such as Bitcoin, which makes the trading prospect of cryptocurrency in the mainstream market confusing. Despite the constraints of circulation, investors still hold expectations for the future development of Bitcoin, and it is obviously inappropriate to weaken the dark network transaction and its concealment by restricting the withdrawal of cryptocurrency.

　　Guangming Daily (14th edition, August 13th, 2020)

Source: Guangming Net-Guangming Daily

The hospital stipulates that the examination fee and medicine fee prescribed by doctors for patients should reach 1:1, and bonuses will be deducted if they fail to meet the standards; Therefore, doctors can only "implore" patients not to prescribe drugs without examination.

In recent days, a piece of "An Min Notice" on the desktop of the oncology specialist clinic of Guangzhou Hospital of Traditional Chinese Medicine has attracted attention. Some doctors revealed that because income is linked to "billing", doctors, nurses and even department directors have resigned. (April 10, Yangcheng Evening News)

　

△ Image from the Internet

What is the reason why Guangzhou Hospital of Traditional Chinese Medicine did this?

The income of doctors is directly linked to the income of departments.

The income of the hospital is mainly composed of drug income, examination income, medical income and other income.Especially in some traditional Chinese medicine hospitals, their turnover of examination, operation and prescription is generally far behind that of general hospitals. In order to support doctors and nurses, hospitals must try their best to encourage doctors to pay more examination fees with lower cost, and also combine examination fees with performance distribution.

Reducing "Drug Proportion" to Meet Higher Inspection

There is a very important index — — Proportion of medical expenses.According to the current requirements, the drug fee income of tertiary hospitals generally does not exceed 50% of the total hospital income.In this reality, some hospitals require to ensure that the ratio of drug fees to inspection fees is always 1: 1.

The purpose of controlling the "proportion of drugs" at the national level is to control the drug income of hospitals, so as to effectively solve the problem of supporting doctors with drugs, but why did it change its taste when it came to Guangzhou Traditional Chinese Medicine Hospital? What happened when I left?

　

【Cctv review] get rid of taking medicine to support medicine, and don’t let the crooked monk bend the scriptures.

It is the highlight of promoting the reform of the medical system to get rid of using medicine to support doctors.In recent years, there have been many water tests all over the country, and many places have also summed up good experiences. However, this time, the situation in Guangzhou Chinese Medicine Hospital has greatly reduced people’s confidence.Will "medical care with medicine" be replaced by "medical care with examination"?

"It is difficult and expensive to see a doctor" has been criticized, and "separation of medicine" has always been considered as a magic weapon to alleviate "expensive medical treatment".When the income of doctors and hospitals is no longer linked to drugs, the impulse of doctors to promote drugs will naturally fade, which will eventually benefit patients.For example, Beijing Chaoyang Hospital introduced medical service fees in 2012, and at the same time cancelled drug addition. 1148 kinds of drugs sold in hospitals are all sold at the purchase price. The reform has made many people see the hope of "separation of medicine".

However, this time, the regulations of Guangzhou Chinese Medicine Hospital are like taking a pot of cold water. In the process of "separation of medicine and medicine", the cost of medicine may have dropped, and the cost of examination has gone up, and the patient has not benefited. Why is this happening?As we all know, the diagnosis and treatment systems of traditional Chinese medicine and western medicine are completely different.Western medicine relies more on technical equipment for diagnosis and treatment, and obtains the basic data of the disease through CT, chest X-ray, electrocardiogram and other inspection items. Traditional Chinese medicine relies more on experience to feel the patient’s condition and prescribe the right medicine. Therefore, in the income composition, Chinese medicine relies more on Chinese medicine, while western medicine accounts for part of the inspection fee and medicine fee. As you can imagine,When the hospital is asked to reduce the drug fee, in order to increase the income, it must raise the inspection fee like a seesaw, and the wonderful regulations come from this.

Necessary examination subjects are indispensable, but unnecessary examination subjects will increase the burden on patients.As you can imagine, when you have to do ECG and X-ray for minor illnesses such as catching a cold, "reducing the burden on patients" becomes an empty talk.

At the national level, the top-level regulation of "drug proportion" is made to control the drug income of hospitals, thus effectively breaking the practice of supporting doctors with drugs. However, at the implementation level, it has become a "medical examination", which shows that "separation of medicine" can not be achieved in one battle. In the process of promoting reform, medical institutions should also take the initiative to enhance the underlying design. Otherwise, the original intention of good reform will inevitably change at the grassroots level, and "expensive medical treatment" will become "more expensive medical treatment".

Reducing the proportion of drugs is to reduce the burden on patients.On the one hand, efforts should be made to reduce the impulse of doctors to sell drugs through changes in institutional mechanisms.Of course, this does not depend on promoting the impulse of doctors to sell "examination subjects", nor can we expect doctors to lose their income.Therefore, we should do everything possible to mobilize the enthusiasm of doctors to provide better medical services for patients.The medical service fee for testing water in Chaoyang Hospital emphasizes the value of doctors’ professional services, which can be used for reference.On the other hand, the reform of "taking medicine to support doctors" should also appropriately increase investment in hospitals.Otherwise, blindly emphasizing self-revolution and letting doctors reduce their income will lead to an embarrassing scene in Guangzhou Traditional Chinese Medicine Hospital: doctors work hard to see a doctor with their conscience and earn 18 yuan wages in one month; Or don’t prescribe drugs to patients unless they undergo a series of unnecessary medical examinations.

Get rid of medicine to support doctors, yes! Reducing the cost of medicine is also true!The mistake of Guangzhou Hospital of Traditional Chinese Medicine lies in the fixed thinking: the loss inside the embankment must be compensated outside the embankment.This also tells us that it will not be smooth sailing to break the road of supporting doctors with medicine.In order to make the medical system reform finally succeed, "patients’ interests" and "doctors’ enthusiasm" must achieve a win-win situation, and neither can be less!