On September 3rd, the website of National Public Radio published a report entitled "They teach China children English online, but now they are caught in Trump’s war against TikTok". On August 6th, Trump issued an executive order against TikTok, which not only prohibited American enterprises from doing business with this video sharing application, but also prohibited them from doing business with all subsidiaries in ByteDance. This puts the future of Hunter and nearly 4,000 American teachers who signed with GOGOKID in an extremely dangerous situation. The article is excerpted as follows:

　　Kristi Hunt used to be a teacher in a public school. In the past two years, most of her income has come from teaching China children to speak English online.

　　Hunter, 42, lives in Columbia, South Carolina. She said: "I am a stay-at-home mother with three children. As they grow up, I begin to miss working days." She said: "Therefore, it helped me to restart my career, and the time was flexible."

　　GOGOKID, where Hunter works, is a one-to-one English teaching service organization under the ByteDance company, and ByteDance is also the parent company of TikTok, a popular short video application.

　　On August 6th, President Trump issued an executive order against TikTok, which not only prohibited American enterprises from doing business with this video sharing application, but also prohibited them from doing business with all subsidiaries in ByteDance.

　　This puts the future of Hunter and nearly 4,000 American teachers who signed with GOGOKID in an extremely dangerous situation.

　　↑ This is the logo of TikTok Company shot in Culver City, Los Angeles County, California, USA on August 21st. (Xinhua News Agency)

　　Hunter said: "This is a very terrible, confusing and stressful period."

　　According to Trump’s executive order against TikTok, "any transaction" between American citizens and ByteDance will be banned. Violation of this executive order may result in a fine of $300,000 or even criminal proceedings. This administrative order, which was prosecuted by TikTok, will take effect on September 20th.

　　Hunter said: "I may be put in prison for teaching a 5-year-old how to say hello on the computer." She said, "Because of this ‘ National security risk ’ Some of our families may lose their houses and deposits because of his stroke of the pen. "

　　Brian Fleming, a former lawyer of the U.S. Department of Justice who specializes in enforcing economic sanctions, said that since this action is aimed at TikTok, the government may make an exception to ByteDance’s GOGOKID and other services, but this is far from certain.

　　In the confrontation between the United States and TikTok, teachers who earn their income by teaching English in GOGOKID feel nervous.

　　Lindsay Jacobs, 40, is a GOGOKID teacher in eastern oklahoma city. She said: "We are collateral damage. It is really frustrating to see that this struggle continues around us, but no one knows our existence. "

　　Jacobs is a navy veteran and a mother of two children. Her husband works in the federal government.

　　() F10 data shows that on February 25th, 2024, () theme points have been updated and adjusted:

　　Intelligent integrated machine

　　On November 6, 2023, the company disclosed on the interactive platform that Donghua Pengxiao Company has successfully developed PX100, PX200, PX300 and GT100 series all-in-one products, which are mainly used for self-service and window service of public security and government affairs, and are still under constant research and upgrading to provide more powerful support for public security construction and government affairs services. Among them, GT100 is an intelligent all-in-one machine specially built for uncertified cities. It has a series of powerful functions, such as face recognition, voice recognition, environmental monitoring, national secret encryption authentication and so on, and has won unanimous praise.

　　Huawei kunpeng

　　On September 25, 2023, the company disclosed on the interactive platform that the company has maintained in-depth cooperation with major domestic CPU manufacturers (such as Kunpeng, Haiguang, Godson, Feiteng, etc.) and system manufacturers. On may 25, 2023, the company disclosed on the interactive platform that the company’s Qingdao Pengxiao all-in-one machine project is under fundraising and construction, and Pengxiao all-in-one machine is gradually promoting sales to customers in key industries such as finance, communication, energy and medical care.

Relying on the company’s branches all over the country, we will build a nationwide marketing network system and provide integrated soft and hard solution services around Kunpeng’s ecology.

　　The company’s aerospace software listed in science and technology innovation board.

　　On May 24th, 2023, the stock of aerospace software was officially listed in science and technology innovation board, Shanghai Stock Exchange. In addition, Xingdong Shenqi, a holding subsidiary of Xi ‘an Donghua Software Co., Ltd., a wholly-owned subsidiary of the company, invested RMB 79.7 million in aerospace software with its own funds. Xi ‘an Donghua Software Co., Ltd., as the executive partner of Xingdong Shenqi, holds 56.12% of its shares. As of the disclosure date of this announcement, Xingdong Shenqi holds 22.11 million shares of aerospace software, accounting for 7.37% of its total share capital before its initial public offering and 5.53% of its total share capital after its initial public offering.

　　Products in the field of vehicle networking

　　On August 22, 2022, the company disclosed on the interactive platform that in the field of car networking, the company’s self-developed products have covered the main products of the car networking industry and have related applications, including: intelligent roadside equipment, cloud control platform, intelligent network application, and car networking operation and maintenance platform.

　　Cross-border payment

　　On March 1, 2022, the company disclosed on the interactive platform that the company and the clearing center of the People’s Bank of China have a long-term customer relationship. The Company has successively participated in several projects of the Clearing Center of the People’s Bank of China, such as the 2020 payment system host storage update project of the Clearing Center of the People’s Bank of China and the 2019 RMB cross-border payment system equipment update and software upgrade project of the Clearing Center of the People’s Bank of China.

　　Digital industry application (water conservancy industry)

　　In 2022, the company made full use of the leading advantages of industries involved in top-level architecture design such as smart water conservancy and the 14th Five-Year Plan, made use of more than ten years’ experience in water conservancy business, and applied artificial intelligence, big data, water conservancy model, digital twinning and other information technologies, focusing on digital twinning project, digital twinning basin and smart water conservancy application to achieve breakthroughs, solve the pain points of water conservancy business and promote the high-quality development of water conservancy. In the implementation of several typical projects, the company has formed a number of smart water conservancy platform products that have been tested by actual business. Through smart water conservancy projects such as Pearl River Delta, Indo-China and Liaoning, the big data object model, governance method and service system of water conservancy projects are developed, and the digital twin water conservancy project data backplane products are formed. Through Changsha Smart Water Conservancy Platform Project, integrating visualization engine, BIGIS, simulation and other technologies, digital twin scenes such as water resources management, flood control and disaster reduction, and engineering construction management have been developed, and digital twin basin products have been formed. Through the project of Shanxi Data Capability Center, a full-service platform of "one account, one picture, one platform" for water conservancy has been developed, and a smart water conservancy integrated platform product has been formed. Through the river length system project, the integrated application system of artificial intelligence voice technology and river and lake management is developed, and the assistant of river length, supervision assistant and intelligent outbound call are realized, forming the intelligent product of intelligent robot for river and lake supervision.

　　Xiong’ an Donghua

　　Xiong’ an Donghua Global Software R&D Co., Ltd., a wholly-owned subsidiary of the company, completed the establishment of industrial and commercial registration on November 1, 2017 with a registered capital of 200 million yuan, mainly engaged in software technology development, technical consultation, technical service, technology promotion and technology transfer; Computer information system integration service; Data processing; Basic software services, application software services, public software services, etc. As an enterprise that obtained the industrial and commercial business license earlier in xiong’an new area, the company will give full play to its leading role in the software information service industry, and make use of its accumulated industry experience in emerging fields such as artificial intelligence, Internet of Things, big data, smart medical care, smart city, government information, etc., and actively carry out intensive cultivation in the fields of medical care, education, finance, water conservancy, government affairs, big data and cloud computing, demonstrating the company’s strategic determination to deeply cultivate xiong’an new area and lay out the Beijing-Tianjin-Hebei region.

　　wit120

　　In terms of smart medical care, the company has successively won the bid for the first phase of the national national health insurance informatization project-the project of application support platform, and several projects of the national health information platform in Yanqing District, Datong City, Chuzhou City and Ankang City in Beijing. In addition, the company has also made important progress in cloud clinic and intelligent network hospital, and launched the cloud clinic system in four Shanghai UIH imaging centers located in Changchun, Hengshui, Xi ‘an and Wuhan respectively. Nanjing Jiangbei Medical Cloud Hospital, the first intelligent network hospital in Nanjing Jiangbei New District, which relies on a three-level comprehensive entity hospital, covers the functions of online consultation, health education, appointment for diagnosis and treatment, etc. Through cooperation with seven community health service centers, the high-quality medical resources of the three-level hospitals are sunk and docked with all the distribution points, and convenient drug circulation is realized through prescription circulation.

　　　　China people have a very flexible scale for the change of seasons. Someone said, "Ah, the Mid-Autumn Festival has come, and autumn has begun." Others said, "Autumn really begins with the first rain after the Mid-Autumn Festival." Someone also told me: "When the wind from Siberia swept the streets and the fruits and leaves on the trees began to fall in the cold wind, autumn really came."

　　　　However, it is already October, and I have not paid special attention to these phenomena. Due to the lack of accurate explanation of meteorology, I have to try to define the beginning of autumn by myself. Since ancient times, it has been men’s instinct to explain seasonal changes through natural signals. The leaves changed color, the rice ripened, the birds began to change their hair and flew to a warm place for the winter. I am still sensitive to nature, and of course I can judge the change of seasons by some kind of signal given by nature.

　　　　Of all the signals I have observed, the most representative is women’s dress. That’s why I define autumn in Beijing as "when girls start to put on boots". It’s really too hot to wear boots in summer in Beijing. If women barely put it on, they can’t stand it for more than 10 minutes, and it not only makes people feel funny, but also makes the salt excreted by the body rise sharply.

　　　　I have been in Singapore for several years. In that country where I can always sweat profusely, even female parliamentarians and company bosses wear shorts, sleeveless T-shirts and breathable sandals to work. Therefore, boots always attract my attention.

　　　　Boots are always paired with stockings and plaid skirts. I often look at these different landscapes with ecstasy, so I am always laughed at by some kind people. One day, I walked out of Dawanglu subway station in Beijing, and it was about 10 minutes’ walk to my apartment. If there is a girl dressed as I just described and walks past me to take the subway, I will not hesitate to follow her. This may be why, sometimes when I get home, I will find my wife sitting gracefully on the bench in boots, stockings and tartan skirt. Perhaps this is why I always look forward to autumn in Beijing.

　　　　Unfortunately, autumn is not far away when it comes to winter. Winter will make people wrap themselves up like "Zongzi". In my opinion, a thick coat over the knee is one of Beijing women’s favorite clothes in winter. They make women’s curves suddenly disappear and make Beijing look like a city with countless huge, crooked and upright caterpillars. Autumn in Beijing is sweet because it is the last season for people to show their charm before the arrival of the four-month cold winter in Beijing.

Editor: Li Erqing

Continued content

In this column, I will continue to introduce you to the related content of running.

1.?posture?

Let’s start with the posture. As a "most natural" sport, running hardly involves the cooperation between people and equipment (except running shoes, which will be elaborated in detail), and the running mode can be said to be a skill package brought by human beings, which is embedded in genes as people evolve to walk upright.

Since I became a father, I have watched my daughter fall to the ground, from learning to look up, turn over, crawl, stand, walk to run, and often lament the magic of the creator; At the same time, it is very enlightening to observe the movements of children! For example, if children want to pick up toys on the ground, or move a small stool, they must squat down, take them, and then squat up, instead of bending down and reaching for things on the ground first like adults; Another example is that when a child runs, the heel does not touch the ground first, but the sole touches the ground first.

When children learn to walk, their language communication skills are usually not fully developed, so these basic action patterns are not taught by adults-parents only do some auxiliary work such as help at most.Obviously, these basic movement patterns are "preset programs" that already exist in every child’s brain at birth.After a period of "debugging" and "running-in", children can use these preset programs normally, and the action differences between children are very small.??

Now the field of kinematics has fully paid attention to the value of the research on children’s sports patterns, and formed a special branch of developmental sports, and through some exercises, adults can gradually return to their original source in sports patterns.

2.?core

In the introduction of the last issue, we introduced the importance of posture-because of sitting or standing for a long time in life, and often because of poor sitting or standing posture, some wrong body habits are formed, which leads to "imbalance" in the body, and this "imbalance" destroys the core stability of the human body, so it is easy to compensate in sports and becomes one of the reasons for sports injuries.

In Tiesanluan, most fans are energetic and curious sports enthusiasts, and they are also willing to try new things. I remember that for a while, "practicing the core" was a very fashionable thing in the iron three laps (maybe it still is).

Therefore, all kinds of flat support, sit-ups and abdominal muscle tears are practiced happily, and you must regularly take photos of eight abdominal muscles in front of the mirror to prove the effectiveness of "practicing the core".However, when I returned to these special sports, I found that the previous problems still existed, so I went back to the above process and entered an infinite loop.?

This is the trouble of many iron three people-they are all practicing the core, and few people can tell what the core is, and even fewer people know how to use it.?

Generally speaking, the muscles that control the spine and body posture can be called core muscles.We won’t delve into it here. The body is like a complex but not very reliable engine. Only when all parts are in normal positions can the ideal output power be achieved, and the core function is to ensure that these "parts" can be in normal positions without deviation.

3.?DNS

Go on, running,Running mainly relies on the lower limbs to drive the body forward, and the legs do repeated periodic movements like pistons, while the pelvis is the fulcrum of the movement of the legs. If the fulcrum is not stable, the parts will deviate and the engine will act abnormally.. How to control the stability of the core to ensure the efficient operation of the engine? Here is a concept: dynamic neuromuscular stability (hereinafter referred to as DNS). Excuse me? If you know every word, you don’t know what you’re talking about. In this case, the purpose of my subject (zhuang) and general education (bi) has been achieved, and brackets laugh!?

Get down to business,Simply put, DNS is a technical means to help restore or improve sports ability through the stability of core muscles. Different from the usual methods of simply strengthening the muscle strength of waist and abdomen, DNS mainly controls the coordination of waist and abdomen muscle groups and intra-abdominal pressure through the motor nervous system to achieve the goal of core stability.

The diaphragm and pelvic floor muscles of the human body are like the lid and bottom of a mineral water bottle, and the abdominal wall is the body of this mineral water bottle. When your posture is correct, the diaphragm is opposite to the pelvic floor muscle, and you use abdominal breathing to inhale one breath into the abdominal cavity, which causes the intra-abdominal pressure to rise, just like filling a mineral water bottle with water and tightening the bottle cap. At this time, the structure and state of the bottle are very stable and not easy to deform. As shown in the figure below.

If the posture is bad, such as the pelvis leans forward excessively (many people will deliberately do this to make their chests stand high and their hips become warped), the relative position of the diaphragm and pelvic floor muscles will be destroyed, just like if you squeeze the bottle body of a mineral water bottle into it, even if it is filled with water, the bottle still cannot maintain structural stability. As shown in the figure below.

Through DNS, joints can be located in the best position, so as to obtain the best advantages of sports mechanics, and it is also conducive to the correct excitation of sports muscles. existIn long-distance endurance exercise, the muscle strength or endurance of a single muscle is not the key point. The key to improve exercise efficiency is to coordinate the work between muscles and stimulate them at the right time, and a good posture is a prerequisite for achieving efficient exercise..?

I hope this article will play a role in attracting jade, so that everyone can look at the "core" from another angle. We will talk about running shoes in the next column, so stay tuned.

Two sets of online courses taught by teacher Kaiyuan are recommended to everyone:

1. For Xiaobai’s "Biaojie" course, you can send "Biaojie" to our official "LOCOMO Endurance Sports Research Institute" for details.

2 For the Marathon course for runners, you can send the "standard iron" to our official number "LOCOMO Endurance Sports Research Institute" for details.

Zhiwei Wang

CCTV News:"A simple and beautiful" car dream "will always shine in my heart: it is because I love cars and Beijing cars that I have persisted for more than ten years, and I will continue to do it with my life." The man who said this is Wang Zhiwei, a senior technician in a Beijing automobile factory. Although he is only 37 years old, Wang Zhiwei already holds many titles, such as Beijing’s senior industrial technical expert, winner of the National May 1st Labor Medal, and "youth post expert" in the national automobile industry.

Wang Zhiwei, a native of Shunyi, Beijing, likes playing with machinery since he was a child. After graduating from junior high school, Wang Zhiwei was admitted to Beijing Automotive Industry School to study in a technical secondary school. After graduating from technical secondary school, he went to a car company in Beijing and worked in the assembly workshop.

Automobile assembly and adjustment workers need to assemble and debug tens of thousands of parts to ensure that every screw and every wire are accurate, so that the automobile can run normally. However, one of the wires is out of order, which is often difficult to detect. After years of exploration, Wang Zhiwei has summed up a set of unique vehicle circuit system adjustment and detection technology and troubleshooting methods, which can quickly detect and eliminate faults.

From a junior worker to a senior technician, the average person needs more than ten years, and he has completed five consecutive technical jumps in one competition. After the introduction of new models, he solved technical problems that foreign technical support experts could not solve, and he solved them in two hours.

"I work as an assembler on the production line. Go to work at 8 o’clock every morning and get off work at 8 o’clock or even 10 o’clock in the evening. The hardest thing is that in 2003, as an operator on the production line, I couldn’t see the future, and my thoughts fluctuated at that time. " Wang Zhiwei said.

However, the turnaround also occurred that year, and the production capacity of the car factory was expanded from 50,000 to 150,000. At this time, the workshop maintenance team recruits people, and the new team is responsible for maintaining the new car that has just rolled off the assembly line. It has high technical content and needs an exam to enter. Wang Zhiwei, 23, and hundreds of employees signed up for the exam, and finally won the top 6, and successfully entered the maintenance team.

Subsequently, Wang Zhiwei started the learning hegemony mode of day and night, and he held a large pile of circuit system adjustment detection methods and troubleshooting methods of various models, which became a "big hand" for everyone in the maintenance team.

Wang Zhiwei at work (right)

After obtaining the certificate of senior technician, Wang Zhiwei began to take apprentices. Newcomers are just graduates, without any experience, and need to be taught by hand. "I have a low education and I have to teach others, so I have to improve my theoretical study. Many times, I am learning and selling now." Wang Zhiwei said, "All say ‘ Church apprentice, starving master ’ But in my opinion, this is not a problem. When bringing new people, I will tell them which operations are correct and which are incorrect, where to start, and which level of knowledge to learn. "

In order to improve the professional quality of the whole staff in the workshop, Wang Zhiwei not only took full responsibility for the technical training of the assembly workshop, but also launched the "E2E Weekly Technical Promotion" for engineers to learn and improve, and the "Zhiwei Lecture Hall" for technical personnel training, which taught automobile theoretical knowledge and assembly skills, and trained more than 4,000 employees successively, and trained 7 skilled automobile electrical maintenance workers, of whom 25 grew up to be technicians under their guidance, and two became senior technicians.

One year, a certain model of the eighth generation could not be started after it was first rolled off the production line, and the technical support from South Korea could not solve the problem, so they called Wang Zhiwei to come over by name. After Wang Zhiwei went over, he used the unique vehicle circuit system to adjust the detection technology and troubleshooting methods, and solved the problem in two hours.

Since joining the work, Wang Zhiwei has solved more than 120 technical problems in production, including 27 outstanding innovations, 11 utility model patents and more than 300 production improvement projects.

In 2009, the company established the "Wang Zhiwei Chief Technician Studio" while continuously achieving various technological innovations. In the innovation studio, Wang Zhiwei mainly focuses on the improvement of tools and techniques, the cultivation of talents, the proposal of economic and technological innovation, and the improvement of achievements. Wang Zhiwei led the studio members to put forward more than 160 improvement measures in the company’s "two investments and one mention" project, saving nearly 7.4 million yuan.

After years of persistence and forging, "Wang Zhiwei Chief Technician Studio" has developed and trained a large number of outstanding young technicians. These young technicians have now become builders of various factories, and continue to influence and drive a new group of technical youth. (Source: Zhonggong. com)

After entering the winter, everyone began to look forward to snow, so that we can have fun and run wild in the snow. Of course, people who like outdoor sports are ready to go skiing in the surrounding snow fields. We have won the bid for the 2022 Winter Olympics, and the winter events are not practiced quickly! Not ready for actual combat? Let’s start by learning related vocabulary.

Skiing types skiing classification

Snowboarding snowboarding

Cross-country skiing cross-country skiing

Alpine Skiing alpine skiing

Nordic skiing nordic skiing (cross-country skiing with the heel not fixed on the snowboard)

Ski jumping ski jumping

Freestyle skiing freestyle skiing (no fixed snow slot)

Classical skiing traditional skiing (fixed snow slot)

Downslope skiing mountain skiing

Military skiing (used as a means of transportation in the military)

Kite skiing kite traction skiing (a form of skiing pulled or carried by a paraglider, glider or kite)

Backcountry skiing wilderness skiing (refers to skiing in uninhabited rural areas without put in order and marked snow slopes or trails)

 

Skiing equipments ski equipment

Ski snowboard

Snowboard snowboard

Tipped ski board head

Tailed ski plate tail

Ski break skid stop

Ski pole ski pole

Ski wear ski suit

Tapering trousers Ski Pants

Ski boots ski boots

Snow training shoes cold-proof sneakers

Binding fixer

Thermos thermos kettle

Snow cap snow hat

Gloves gloves

Ski glasses/goggle ski glasses

Helmet helmet

Kneepad knee pads

Plush earmuffs plush earmuffs

Band-Aid/plaster band-aid

 

Skiing moves skiing action

Pole planting stick (when turning, the snowball fights lightly on the inner curved side snow trail)

Short radius turn short radius turn

Giant slalom turn(G.S turn)

Parallel turn and leg turn (parallel turn)

Snow plough Plough Brake (two skis with their tails facing outwards, so that the skis form a figure of eight).

Airplane turn air turn

Stem christie braked the turn (pushed the tail end of the inner side plate outward and slid along the snow surface to make it change from a position parallel to the outer side plate into a V-shape).

 

Skiing facilities ski resort facilities

Ticket Office ticket office

Ski resort ski resort

Track track

Ski slopes/runs/piste slide

The primary/elementary ski slopes/runs/bunny slope primary road

The intermediate Ski slopes/runs intermediate road

The high-class/high-level/high-grade ski slopes/runs advanced road

Snowmaking machine/snowmaker snow maker

Bombardier snow press

Cableway cableway

Drinking Station drinking station

Shuttle Bus shuttle bus

Ski equipment hall snow gear hall

The distance between … spacing

The cable car gondola lift cable car

Chairlift cable car

Oxygen bar oxygen bar

Snow entertainment snow play area

Snow entertainment area for children children’s snow amusement park

Entertainment facilities entertainment facilities

Ski area ski area

Skiing show ski show

 

Ski area conditions natural conditions of snow field

Slope gradient

Temperature temperature

Humidity humidity

Altitude altitude

The slope orientation faces upwards.

Natural resources natural resources

Sunlight sunshine

Local climate local climate

Transport capacity/ability capacity

Go to the next page to see skiing tips and spoken language.

The Third China Xinjiang Ice and Snow Tourism Festival

　　Zhongguangwang Urumqi News (Reporter Gao Jingya) "One, two, one, two" With the rhythmic sound of trumpets, a rope tens of meters long stretched straight in dozens of pairs of powerful hands. This is what the reporter saw today at the 3rd China Xinjiang Ice and Snow Tourism Festival and the 6th 2008 Silk Road Ice and Snow Scenery Snow Mountain Golf Lighting Ski Resort Sub-venue.

Go all out to the end

　　On December 22nd, various events of the 3rd China Xinjiang Ice and Snow Tourism Festival were in full swing at Xuelianshan Golf and Lighting Ski Resort. Snow cross-country race, snowboarding competition, snowboarding competition, skiing circle competition … Nearly a thousand contestants gathered here, shouting, cheering and laughing together, and the scene immediately became a colorful and joyful ocean.

　　Among many competitions, the team composed of hundreds of students is particularly prominent. I saw that the students quickly arranged the snow circles in a row, and the contestants quickly sat in the snow circles. With the whistle of the coach, the game officially began. Li Xue, from No.56 Middle School in Urumqi, is a frequent visitor to the ski resort. After the competition, she said excitedly: It’s so exciting to play skiing with so many people for the first time!

Uyghur traditional music performance

　　Xu Xia, manager of the planning department of Xuelianshan Lighting Ski Resort, told the reporter: This year’s activities mainly highlight the masses and interaction, hoping to let more people participate in and experience the ice and snow projects with the help of the Ice and Snow Tourism Festival.

　　In recent years, major ski resorts in Xinjiang have been constantly upgrading their equipment. In addition to strong hardware facilities such as snow presses and snow makers, they have also built a variety of special projects to attract tourists. During this year’s snow and ice storm, the general public and tourists can not only experience traditional projects such as snowboarding, skiing circle and snowmobile in the ski resort, but also feel the fun brought by new projects such as powered parachute, magic carpet ropeway, four-person hanging chair and delta wing.

Editor: Liu Li

Inclusive finance, as it literally means, is a financial business that benefits everyone. Finance has its own characteristics in the process of development. For a long time, most people still feel that finance is somewhat high, and not everyone needs or has the opportunity to get financial services. Inclusive finance, on the other hand, is committed to making the slightly cold finance serve more classes and people, especially the general public who need financial support but can’t get financial services at ordinary times.

What is inclusive finance?

Inclusive finance refers to providing financial services with appropriate cost, convenience and effectiveness to all social strata according to the principle of equal opportunity and sustainable business. The concept of inclusive finance is an exotic product, which originated from the advocacy of the United Nations in 2005. The original English text is Financial Inclusion, which literally means "financial inclusion". This direct and blunt translation can explain the original meaning and goal of inclusive finance, that is, to include more groups in the scope of financial services. Of course, the Chinese translation of "inclusive finance" means that finance generally benefits the masses, which also shows the original meaning and is more elegant.

To put it simply, inclusive finance wants financial services to reach everyone who needs them, so that the financial needs of all social strata can be met. If finance is a kind of help, then it is necessary to let this help help more people and help everyone in need.

Why push inclusive finance?

From the perspective of the financial industry itself, the financial industry has its natural preference for the choice of customers. For example, banks prefer to serve big customers and rich customers, even though these customers themselves do not need financial support such as loans. In banking practice, there is not much difference in human resources between making a loan of 100 million yuan and making a loan of 1 million yuan. However, in order to complete the business volume of 100 million yuan, those who do a single 100 million yuan only need to do one stroke, while those who do a single 1 million yuan have to do 100 strokes. The human resource cost and operating cost behind it are very different. Therefore, if only from the perspective of commercial interests, banks are willing to provide more financial services to large and medium-sized customers.

In addition, from the customer’s point of view, the internal management of large and medium-sized customers is more standardized, the statements are more credible, and their credit is generally better. Comparatively speaking, small customers have small scale, irregular internal management, and even no qualified statements can be provided, so the credit risk of small customers and inclusive customers is generally greater. Finally, the loan business is reflected in the non-performing rate index, and the default rate generated by banks as small customers/inclusive customers may be higher, and the higher non-performing rate will bring more losses.

If there are no special regulatory requirements to correct the deviation, most banks will serve large customers more, while small customers and inclusive customers will not get financial support. From the perspective of social benefits, although the large customers are large, after all, the social economy is composed of more small enterprises or micro-enterprises, and the inclusive enterprises attract more employed people and maintain more people’s livelihoods. If small customers/inclusive customers do not get enough financial support, it will not be conducive to the all-round and healthy development of the national economy.

Since the financial industry itself is easy to form the deviation of the above-mentioned service targets, it needs external forces to correct it. This is why the supervision of the United Nations and many countries will give special impetus to inclusive finance.

Where is the difficulty in inclusive finance?

Heard a famous professor describe inclusive finance (SME loan problem), he said: "SME loans, banks do, banks die;" If banks don’t do it, SMEs will die. " Although this description is extreme, it also reflects some actual situations. Small and medium-sized enterprises (SMEs) are weak in their ability to resist risks due to their small size, large operational uncertainty, and opaque information, and are prone to problems such as dishonesty of business owners. After banks put in loans for SMEs, the probability of bad loans is indeed not small. In reality, many banks’ business practices have repeatedly proved that inclusive finance/SME loans are difficult to do. Bank employees often find that bad loans appear in the loan portfolio one after another shortly after banks increase the investment of small and medium-sized enterprises. Compared with large and medium-sized enterprises, the loan of Pratt & Whitney customers takes a shorter time from delivery to non-performing loans, and the number of non-performing loans appears more. Even some banks are caught in the quagmire of continuously collecting the non-performing loans of Pratt & Whitney/SMEs shortly after the establishment of SMEs or inclusive finance Department.

In fact, no matter how high the non-performing rate of Pratt & Whitney or small and medium-sized customers is, banks can’t do business, as long as the income can cover the risks, that is, related businesses need to raise interest rates to make up for the losses caused by credit risks. However, since inclusive finance is Pratt & Whitney, the characteristics of Pratt & Whitney determine that inclusive finance can’t charge too high interest rates or handling fees. Since the risks and benefits are not equal, it is more likely that the bank will eventually bear the actual losses as a result of inclusive finance business.

Of course, the benefits of inclusive finance should be judged not only by the economic benefits of the business, but also by the overall social benefits. But if a business is risky and easy to cause losses, the difficulty of business development is also obvious.

What should inclusive finance be like?

Although inclusive finance has its development difficulties, the development of inclusive finance still needs to take into account both economic and social benefits. The development of inclusive finance needs to pay attention to "four characteristics", namely, inclusiveness, convenience, availability and commercial sustainability. Only by developing inclusive finance into an inclusive, convenient and sustainable business can inclusive finance benefit more social classes and enable banks as commercial institutions to continuously develop inclusive finance services.

Inclusive finance should expand its service coverage, expand its audience as much as possible, and let all those who want to get financial services have the opportunity to get services. In fact, according to the statistics of the World Bank, by 2017, 31% of adults in the world still don’t even have a bank account, let alone financing services and other more complicated services.

Countries around the world have actually done a lot to expand the inclusiveness of inclusive finance. For example, in June 2016, Mexico launched the National inclusive finance Strategy to accelerate the promotion of more than half of the population excluded from the formal and regulated financial system to obtain financial services; In July 2016, Mozambique launched the new inclusive finance Strategy, which increased the accessibility of financial services from 24% to 60%; Peru launched the National inclusive finance Strategy in 2015, and the government strives to ensure that at least 75% of adults can use trading accounts by 2021.

Inclusive finance also needs to enhance accessibility and business sustainability. In this regard, the Grameen Bank founded by Muhammad Yunus is a famous case. Up to now, the bank has issued $37.58 billion in unsecured loans, and the corresponding number of borrowers is as high as 10.45 million. In other words, the average amount borrowed by each borrower is only $3,600. The bank labels itself as a bank for the poor, and currently operates in 81,678 villages in Bangladesh (accounting for 94% of all its villages). Grameen Bank even provides interest-free loans to beggars to help them build their financial capacity so that they don’t have to beg any more. According to the information disclosed by the bank, 21,383 beggars have given up begging and achieved self-sufficiency. The loan recovery rate of Grameen Bank is as high as 96.71% (as of November 2023), which makes the bank have basic business sustainability. Grameen Bank has also become a model for inclusive finance to learn from, and its founder Professor Yunus won the Nobel Peace Prize in 2006.

Although inclusive finance is a manifestation of banks’ social responsibility, sometimes banks can give up some commercial interests in order to fulfill their social responsibility. After all, banks are still commercial organizations, and it is not difficult to bear the loss or loss at one time. However, in the long run, the inclusive finance business itself will not be sustainable. The society needs charity, and the government can also make financial arrangements, but inclusive finance is not charity, it is a part of the business of commercial banks after all, and inclusive finance with sustainable development has vitality.

What are the specific ways to develop inclusive finance?

Many business models have been formed in the practice of inclusive finance, and each model has its advantages and disadvantages. It is hard to say which model can win the world. Various specific models and measures for developing inclusive finance jointly promote the development of inclusive finance.

The most famous model in inclusive finance is the credit factory model, because it was first proposed by Temasek, also known as Temasek model. The credit factory model regards credit as a factory assembly line to produce products, and its characteristics and advantages lie in product standardization, business batch, process intensification and personnel specialization. The core of the credit factory lies in the link design of the process, that is, bank employees can be responsible for several links without mastering the whole process. This factory model can make the processing efficiency of small and medium-sized loans more efficient and the business more standardized. Both China Construction Bank and Bank of China have introduced the credit factory model to develop their own loans for SMEs. Of course, credit factories also have bottlenecks. For example, credit products themselves are not personalized enough, and they can’t cope well with some personalized inclusive finance needs.

Another well-known mode in inclusive finance is IPC mode. IPC is a German company, whose full name is International Project Consulting GmbH, that is, an international project consulting company. It has developed the methodology and operational means of SME credit operation, such as report restoration and precise risk control. For example, cross-checking is one of the core technologies of its loan analysis and evaluation, and the information is verified and judged by means of SME account books, contract information, product receipt and issue documents, water and electricity bills, tax bills, and interviews with parties and third parties, so as to obtain an objective evaluation of the enterprise. Using IPC mode to carry out business does not change the main flow of bank credit, so it is easy to start. IPC is a kind of relational credit with high viscosity, which embodies the characteristics of small and beautiful. However, its operation mode is too nonstandard and difficult to copy, so there is a bottleneck. In addition, the production tools used in the model are also somewhat backward compared with the big data analysis methods that are more widely used at present.

In China, the SME loan model in inclusive finance combines the popularity of digital finance, thus developing other distinctive business models, such as the micro-online business model. The micro-online business model is also the model of digital credit. Its advantages are reflected in the overall subversive innovation and the use of big data for risk control decision-making, which brings fast, convenient and better user experience unique to the mobile Internet era, and brings extremely low operational and decision-making costs to bank operations. However, this model also has its limitations. There is a wall between social data and transaction data, and there are restrictions on the transformation of social scenes into business traffic, and there is a deviation between data and reality.

In addition, in the credit business of inclusive finance and small and medium-sized enterprises, China has also developed the Taizhou model, or the super loan officer model. The representative financial institution of this model is the local small and medium-sized banks in Taizhou. After independent exploration of localization, Taizhou mode adopts local market positioning, combined with meticulous management system and more in-depth credit technology to cultivate a more suitable local credit culture. Its core lies in building a relational credit scene through community marketing, increasing the sources of information acquisition and realizing 360 due diligence. That is to say, through a super loan officer who is familiar with the local situation, as the core person to carry out business, because the business is all local, this loan officer can fully grasp the situation of the clients in inclusive finance, and then decide whether to launch credit. This model is more in line with the local economic characteristics, and its ideas of "time is more important than price" and "repayment willingness is more important than repayment ability" in inclusive finance are refreshing.

For banks, developing inclusive finance’s business is like "eating meat in the cracks of bones". Although it is not so delicious, it can be a sustainable business and can produce greater social benefits. For people who urgently need inclusive finance’s services, inclusive finance needs more than icing on the cake. The development of inclusive finance will be more conducive to the balanced, harmonious and sustainable development of the whole society.

[The author Xue Jian is the president of a bank branch, and an expert in the L/C Group and Forfaiting Group of the Banking Committee of China National Committee of the International Chamber of Commerce]