Yu Chengdong appeared with Huawei’s 30% mobile phone.

Huawei is expected to launch its first three-fold mobile phone in September, which will be available earlier than the Huawei Mate 70 series released in October. This innovative product will adopt the world’s first double hinge inside and outside triple folding design, and the size of the internal screen is close to 10 inches. Although the thickness is slightly thicker than that of the traditional double folding model, it will achieve new breakthroughs in technology and pricing. Yu Chengdong appeared with Huawei’s 30% mobile phone!

Weibo blogger "The factory director is Guan’s classmate" shared the expectation of this three-fold mobile phone, and mentioned that this folding screen mobile phone has been specially optimized in terms of system, which is full of expectations.

Earlier, Huawei’s Yu Chengdong and online celebrity anchor Dong Yuhui discussed the topic of Huawei’s mobile phone and R&D in a live broadcast, and talked about Huawei’s upcoming "next-generation folding screen" product for the first time. Yu Chengdong confidently said that this product is an innovative work that the industry can imagine but it is difficult to achieve. He revealed that the Huawei team has been brewing the design concept for five years, during which it has overcome many technical problems and is now approaching mass production.

The advent of this three-fold mobile phone is expected to subvert the traditional mobile phone usage scene. When the mobile phone is fully unfolded, its experience can be comparable to that of a tablet computer, and it can meet some office needs including simple document and form editing.

Considering its innovative design and technical content, the price of Huawei’s three-fold screen mobile phone may be much higher than that of iPhone when it is first listed. However, in view of the strong adaptability of the domestic supply chain, with the popularity of three-fold mobile phones, the price is expected to be lowered in the next few years, and more manufacturers will follow up and popularize such designs, bringing new vitality to the market.

Cctv news: According to the website of the State Commission for Discipline Inspection of the Central Commission for Discipline Inspection, the Discipline Inspection and Supervision Team of the State Commission for Discipline Inspection in China Banking and Insurance Regulatory Commission, China and the Henan Provincial Supervision Committee, Liu Zhangjun, the former director of the Office for Handling Illegal Fund Raising of the China Banking Regulatory Commission, is suspected of serious violation of discipline and law, and is currently under disciplinary review by the Discipline Inspection and Supervision Team of the State Commission for Discipline Inspection in China Banking and Insurance Regulatory Commission, China and supervision investigation by the Henan Provincial Supervision Committee.

　　Liu Zhangjun’s resume

　　Liu Zhangjun, male, Han nationality, born in March 1955, a native of Henan Province, worked as a doctoral student, joined the work in December 1979 and joined the Communist Party of China (CPC) in April 1985.

　　From December 1979 to February 1994, he worked in Henan Financial Management Cadre College (during which he studied in Shaanxi University of Finance and Economics from September 1983 to July 1985);

　　From February 1994 to July 2002, he worked in the Policy Research Office, Banking Department and Banking Supervision Department of China People’s Bank.

　　From July 2002 to September 2003, he served as assistant inspector of the second supervision department of the People’s Bank of China;

　　From September 2003 to September 2005, he served as Assistant Inspector of Banking Supervision Department II of China Banking Regulatory Commission (during this period: from August 2002 to July 2005, he served as a member of the Party Committee and deputy governor of Kizilsu Kirgiz Autonomous Prefecture in Xinjiang, and served as a bureau-level official in May 2005);

　　From September 2005 to November 2007, he served as the supervision inspector of Banking Supervision Department II of China Banking Regulatory Commission (during the period: from December 2004 to November 2007, he served as the full-time vice president of China Banking Association);

　　From November 2007 to July 2010, he served as the head of the Office for Handling Illegal Fund Raising of China Banking Regulatory Commission (during the period: from March 2006 to June 2009, he studied for a doctorate in finance at Southwestern University of Finance and Economics);

　　From July 2010 to September 2014, he served as the director of the Office for Disposal of Illegal Fund-raising of China Banking Regulatory Commission (Office of Inter-ministerial Joint Meeting for Disposal of Illegal Fund-raising);

　　From September 2014 to May 2015, he served as the inspector of the Office of Disposal of Illegal Fund-raising of China Banking Regulatory Commission (Office of Inter-ministerial Joint Meeting on Disposal of Illegal Fund-raising);

　　Retired in May 2015.

　　Directed by Christopher Nolan, a sci-fi action film starring Leonardo DiCaprio, Joseph Gordon-Levitt, ellen page and Ken Watanabe will land on the mainland screen on September 2, and the first official Chinese poster and trailer of the film will be officially exposed on August 11. In the poster, a group of leading actors in the film line up the twisted street in a staggered way, which indicates that this "contemporary science fiction film taking place in the consciousness structure" is about to make people visit the amazing dream like reality.

Inception issued a Chinese poster starring in the dream street

　　Inception will enter the mainland screen on September 2nd, and the world-renowned director Christopher Nolan will surely arouse the brains of mainland audiences again with this "contemporary sci-fi film happening in the ideological structure", and people will also see Leonardo DiCaprio’s heroic spirit on the big screen for the second time. This time, Inception released the Chinese version of the poster, only to see Leonardo DiCaprio, Ken Watanabe, Joseph Gordon-Levitt, ellen page and other leading actors standing on the street with serious expressions, and the background was an overturned dream city, which was as fantastic as a dream, full of unknown mystery and tense and solemn atmosphere, making people marvel at the mystery and power of the "dream machine". Along with the Chinese version of the poster, there is the first official Chinese version of the trailer in Inception.

"The Dark Knight" director’s masterpiece stars gather together and big names gather.

　　Inception is Christopher Nolan’s latest masterpiece after The Night Knight. In the world described in this film, human beings have invented a means to enter other people’s dreams. The story scene is not only set in many real-life areas around the world, but also extended to private dreams that give people unlimited imagination. Inception’s cast is quite strong, and Leonardo DiCaprio plays Cobb, the "Inception Man", who is the soul of the team; Joseph Gordon Levitt, who became popular with 500 Days with Summer, plays Arthur, Cobb’s assistant, and he will dedicate most of the funny scenes in the film. "Juno" ellen page plays a female college student named Aaliyah Deni, who is Leonardo’s partner in the play; Japanese actor Ken Watanabe plays the villain Qi Teng, and he will blackmail Leonardo.

Inception’s momentum is like a rainbow, and the global box office is nearly 500 million

　　Since its release, Christopher Nolan’s summer masterpiece, Inception, has won many box office titles with an avalanche. After the film was released in North America, the box office went red all the way, breaking through 100 million dollars in the first week, and then it stayed at the top of the North American box office for three weeks. By the end of last week, Inception had won 230 million North American box office. In contrast to the North American box office of this film, Inception’s overseas performance is also excellent, not only in France, Spain and other places, but also in Britain, South Korea, Germany, Australia and other places. At present, the total overseas box office of this film has reached 250 million. I believe that with the release of more countries and regions and the mainland on September 2nd, Inception will make even greater breakthroughs.

More wonderful pictures on the next page!

　　Cctv news: Today (21st), the Beijing Municipal Bureau of Human Resources and Social Security announced that the application stage of Beijing’s 2019 points settlement had ended at 24: 00 on 20th, and a total of 106,403 people participated in the application.

　　According to reports, the application for the first phase of the settlement of points in Beijing in 2019 has ended. From the 21st, the annual settlement of points will enter the stage of review and summary, and relevant departments will review and summarize the points indicators before August 19th.

　　The Points Settlement Service Center of Beijing Municipal Bureau of Human Resources and Social Security specially reminds that applicants who have filled in the indicators of their job and residence areas and passed the online review of the system, if they lived in the sixth district of the city in the form of leased residence before the transfer of their job and residence, should go to the points settlement service window in their district before August 2, 2019 and issue relevant certificates indicating the actual leased residence. If the applicant fails to present the voucher at the window as required, the indicator will be invalid and no points will be awarded.

　　August 20 to August 26 is the notification stage of audit results. During this period, applicants can log in to the online declaration system for settlement of points and check the audit results of various indicators. If there is any objection to the audit results, the applicant may lodge a complaint at this stage. After the end of this stage, the objection to the audit results of annual integral indicators will no longer be accepted.

　　The period from August 27th to October 14th is the review and ranking stage of points. During this period, all departments will conduct in-depth verification and comparison of the objections raised by the applicants, and extend the verification of historical files and paper materials to ensure the accuracy of the verification results of indicators.

　　According to reports, the list of people who intend to obtain points for settlement in 2019 will be publicized on the website of Capital Window from October 15. At that time, applicants can log in to the online declaration system for settlement of points and check their annual points ranking. During the trial period of Beijing’s integral settlement policy, the annual settlement scale was 6,000, and the same points and the same falls were implemented.

　　BEIJING, Chengdu, March 21 (Xinhua) According to the Sichuan Seismological Network, at 8: 56 on the 21st, a magnitude 3.0 earthquake occurred in Wenchuan County, Sichuan (31.2 north latitude, 104.2 east longitude).

　　At 5: 22 on the 21st, an earthquake of magnitude 2.2 occurred in Changning, Sichuan (28.7 north latitude and 105.0 east longitude). (End)

Editor: Xu Guimei

　　CCTV News:According to the website of the housing fund management center of the central state organs, in recent years, the housing fund management center of the central state organs (hereinafter referred to as the fund center) has thoroughly implemented the spirit of the 19th National Congress of the Communist Party of China and the requirements of the "streamline administration, delegate power, strengthen regulation and improve services" reform in the State Council, actively supported the payment of workers’ basic housing consumption demand, vigorously promoted reform and innovation, optimized business processes, streamlined certification materials, improved work efficiency, and effectively reduced the burden on workers, and achieved remarkable results, which were affirmed by the broad masses of cadres and workers. In order to thoroughly implement the Party Central Committee’s positioning requirement of "insisting that houses are used for living, not for speculation", to guide employees to pay reasonable housing consumption, and to further facilitate their work, according to the relevant documents of the Ministry of Housing and Urban-Rural Development, we have adjusted some housing provident fund personal housing loans (hereinafter referred to as loans).

　　In order to facilitate employees to better understand the Notice on Issues Related to Adjusting Housing Provident Fund Personal Housing Loan Policy and Further Optimizing Services (hereinafter referred to as the Notice), the relevant contents are now interpreted as follows.

　　First, support employees to buy policy housing.

　　In order to further implement the Party Central Committee’s positioning requirement of "insisting that houses are used for living, not for speculation", give full play to the people’s livelihood protection function of housing provident fund, and further increase efforts to support paid employees to purchase policy-oriented housing, the Notice gives priority to supporting employees who purchase policy-oriented housing to apply for loans in terms of loan amount, number of housing units and approval time limit.

　　"Purchase policy housing for loans … … The processing period from application to issuance does not exceed 8 working days "excluding portfolio loans, which must meet the lending requirements of commercial banks at the same time."

　　Second, adjust the deposit conditions for loan applications

　　According to the relevant regulations of the Ministry of Housing and Urban-Rural Development on the loan conditions of loan applicants, the deposit time when applying for a loan is changed from the original "the loan applicant should establish a housing provident fund account for 12 months, and the full amount should be paid continuously 12 months before applying for a loan (6 months for purchasing policy-oriented housing)" to "the loan applicant should pay the housing provident fund continuously for more than 6 months (inclusive) when applying for a loan".

　　Third, further implement the differentiated loan policy

　　(1) The standard for determining the number of housing units has been adjusted from "recognizing housing but not lending" to "recognizing housing and lending". "House" refers to the house in Beijing under the name of the borrower, and "loan" refers to the nationwide commercial housing loan records and housing provident fund loan records in the personal credit information system of the People’s Bank of China. If divorced after March 24, 2017 and divorced for less than one year when applying for a loan, the original policy will still be implemented and handled according to the second set of housing loan policies.

　　(2) Adjust the down payment ratio and the maximum loan amount for the second house. In order to increase the support for employees’ basic housing needs, ensure that housing provident fund loans are mainly used to guarantee the demand for first-time housing purchase and policy-oriented housing purchase, and guide employees’ demand for improved housing purchase to be mainly solved through portfolio loans, the down payment ratio will be adjusted from a unified 20% to a classified 20% for the purchase of affordable housing; 30% down payment for the purchase of the first set of housing other than affordable housing; If you buy a second house, the down payment will be 60%, and the maximum loan for the second house will be reduced from 800,000 yuan to 600,000 yuan.

　　Four, adjust the loan period and the upper limit of monthly repayment.

　　In order to implement the relevant provisions of the Ministry of Housing and Urban-Rural Development and strengthen risk prevention and control, the loan period of the loan applicant can be adjusted from the longest calculation to the 70-year-old of the loan applicant to the longest 65-year-old; The upper limit of the monthly repayment amount is adjusted from "after the income of the borrower and spouse repays the loan every month, the per capita living expenses retained shall not be lower than the basic living expenses standard of Beijing" to "on the premise of ensuring the basic living expenses of the borrower, the monthly repayment amount calculated by the equal principal and interest repayment method shall not exceed 60% of the monthly income of the borrower according to the loan amount, term and applicable interest rate applied by the borrower."

　　Five, to further facilitate employees to handle business.

　　(a) to start the housing provident fund loan repayment business. In order to facilitate the borrower to repay the loan, the fund center opens the business of housing provident fund repayment, and can deduct the balance of the borrower’s housing provident fund account by accounting treatment on the deduction date agreed in the Loan Contract to offset all the repayment amount of the loan in the current period. When applying for a loan, the loan applicant can voluntarily choose whether to open the loan repayment. If the loan repayment is not opened but overdue, the fund center can directly deduct the funds in the housing provident fund account to repay the loan. Loans accepted from the date of issuance of the Notice can be applied for opening the loan repayment.

　　(2) Further streamline the certification materials. In addition to streamlining the copies of some certification materials, if the loan applicant transfers to the fund center to deposit the housing provident fund through the national housing provident fund transfer and connection platform, if the deposit time of the housing provident fund does not meet the relevant regulations when applying for a loan, you can inquire about the deposit information in different places through the loan handling outlets, and you don’t need to go back to the original deposit city provident fund center to issue the Certificate of Deposit and Use of Housing Provident Fund for Employees with Foreign Loans.

　　(3) Publicizing the progress of loan processing. The fund center publicizes the progress of loan processing in time, which facilitates the loan applicant to choose the best handling bank according to the handling efficiency of bank outlets and the loan interest rate of portfolio lenders while accepting social supervision.

　　VI. Implementation Time of the Notice

　　The relevant contents of the loan policy adjustment in the Notice shall be subject to the online signing time of the house purchase contract; The relevant contents of the measures to optimize the service shall be subject to the loan acceptance time.

　　Text/Guangzhou Daily All-Media Reporter Lin Xiaoli

　　Yesterday, the first quotation after the reform of LPR formation mechanism was announced, and the one-year LPR was 4.25%, which was lower than the current benchmark interest rate of 4.35%, in line with expectations.

　　On the same day, Liu Guoqiang, deputy governor of the central bank, said that the new LPR mechanism will help reduce the financing costs of enterprises, especially private and small and micro enterprises, but the personal mortgage interest rate will not fall. It is revealed that the People’s Bank of China will issue an announcement on the interest rate policy of individual housing loans in a few days.

　　On August 20th, the first quotation was announced after the reform of the loan market quotation rate (LPR) formation mechanism. According to the data of the National Interbank Funding Center at 9: 30, the one-year LPR is 4.25%, which is lower than the current benchmark interest rate of 4.35%, in line with market expectations. The new LPR over five years is 4.85%, which is also lower than the current benchmark interest rate of 4.9%.

　　On the same day, the State Council held a regular briefing on relevant policies. At the meeting, Liu Guoqiang, deputy governor of the central bank, said that the new LPR mechanism will help reduce the financing costs of enterprises, especially private and small and micro enterprises, but the interest rate of personal mortgage will not drop. It is revealed that the People’s Bank of China will issue an announcement on the interest rate policy of individual housing loans in a few days.

　　All kinds of bank loans should be priced with reference to LPR.

　　On August 17th, the central bank issued "Announcement No.15", saying that it decided to reform and improve the LPR formation mechanism, and authorized the National Interbank Funding Center to announce the loan market quotation rate at 9: 30 on the 20th of each month (postponed in case of holidays).

　　18 quotation banks shall make quotations to the National Interbank Funding Center before 9: 00 on the 20th of each month (postponed in case of holidays) by adding the open market operating interest rate (mainly referred to as the medium-term lending convenience interest rate MLF). The National Interbank Funding Center calculates the quoted interest rate of the loan market by arithmetic average after removing the highest and lowest quotations.

　　For the first quotation of the new LPR yesterday, E Yongjian, chief financial analyst of the Bank of Communications Financial Research Center, pointed out that the new pricing benchmark decreased slightly by 10bp and 5bp respectively compared with the previous loan benchmark interest rate, which should belong to a slight decline, reflecting that the supervision, while guiding the decline of the loan interest rate, also paid attention to avoiding a one-time drop that would impact the market, thus giving the market time for adaptation and transition.

　　According to the requirements of the central bank, from now on, banks should mainly refer to the quoted interest rate in the loan market for pricing new loans, and adopt the quoted interest rate in the loan contract with floating interest rate as the pricing benchmark.

　　"All kinds of loans should refer to LPR." Liu Guoqiang stressed that at the same time, banks are required to improve the information system and contract text related to loan interest rate pricing. According to reports, since the third quarter of 2019, the central bank will include the use of LPR and the competition behavior of loan interest rates into the macro-prudential assessment (MPA). At the same time, improve the statistical method of loan interest rate. From August 20th, instead of counting the fluctuation of loan interest rate with reference to benchmark interest rate, we will count the increase and decrease points on the basis of LPR.

　　Liu Guoqiang said that the focus of this reform to improve the LPR formation mechanism is to deepen the interest rate marketization reform, and to use reform methods to promote the reduction of the financing cost of the real economy.

　　The new LPR formation mechanism will not reduce the mortgage interest rate.

　　"In the current situation, the implementation of LPR is conducive to reducing the financing costs of enterprises, especially private and small and micro enterprises." Liu Guoqiang prejudges.

　　According to the data of China Banking and Insurance Regulatory Commission, in the first half of the year, the interest rate of new loans for inclusive small and micro enterprises was 6.82%, which was 0.58 percentage points lower than the annual average interest rate in 2017. In addition, by reducing some credit-related expenses, the comprehensive financing cost of small and micro enterprises has dropped by more than 1 percentage point.

　　However, regarding the personal mortgage interest rate, Liu Guoqiang emphasized that the mortgage interest rate changed from the reference benchmark interest rate to the reference LPR, but the final loan interest rate level should remain basically stable. "How to operate specifically? In a few days, the People’s Bank of China will issue an announcement on the interest rate policy of individual housing loans. We are still investigating some details, and we will clarify them later. But one thing is certain, the interest rate of mortgage will not fall. " Liu Guoqiang said.

　　Liu Guoqiang pointed out that it is necessary to resolutely implement the requirements of Politburo meeting of the Chinese Communist Party on July 30th, adhere to the positioning of "houses are for living, not for speculation", implement the long-term management mechanism of real estate, and not use real estate as a short-term means to stimulate the economy, ensure the effective implementation of differentiated housing credit policies, and keep the interest rate of individual housing loans basically stable.

　　Focus on the impact of the new LPR mechanism

　　1. Does it affect the RRR cut and exchange rate?

　　Will the improvement of LPR reform affect the adjustment of deposit reserve ratio?

　　Liu Guoqiang said that the interest rate marketization reform is like "building a canal", which aims to make the water flow smoother and make the water flow to the fields more efficiently and accurately, but the size of the water still depends on the gate. Therefore, the interest rate marketization reform is conducive to enhancing the effect of monetary policy, but it cannot replace monetary policy or other policies.

　　Sun Guofeng, director of the monetary policy department of the central bank, also said at the policy briefing that on May 6 this year, the central bank announced the implementation of a new framework of "three grades and two excellent" reserve ratio, which was implemented three times on May 15, June 17 and July 15, initially establishing a framework for low deposit reserve ratio for small and medium-sized banks.

　　"At present, the average reserve ratio in China is about 11%, which is relatively low among developing countries. If excess reserves are added, the overall reserve ratio in China is also low compared with that in developed countries. From the perspective of the statutory reserve ratio, there is some room for adjustment in the future, but in general, this space is not as big as everyone thinks. " Sun Guofeng said that from the perspective of reserve ratio, the key point is to improve the statutory reserve ratio framework of "three gears and two excellent".

　　Regarding the exchange rate, Sun Guofeng also said that we usually say that the exchange rate is directly related to the market interest rate. This reform does not involve the change of market interest rate. The key word of this reform is the marketization of loan interest rate, which has no direct impact on the RMB exchange rate.

　　2. Short-term or impact on bank profits

　　Regarding the impact on banking institutions, Liu Guoqiang said that in the short term, the bank interest margin may decrease, which will affect the profits of banks. However, in the long run, the financing cost of the real economy has decreased and the development has improved, the non-performing rate of bank credit will come down, the credit quality will be improved, and the financial and real economy will achieve a virtuous cycle of healthy development.

　　Sun Guofeng also said that the short-term decline in loan interest rate may also have a certain impact on the bank’s interest margin and profit, but on the other hand, as far as deposit interest rate is concerned, the benchmark deposit interest rate is retained and will be retained for a long time to come. The People’s Bank of China will also guide the self-discipline mechanism of market interest rate pricing, strengthen the self-discipline management of deposit interest rate, maintain the market competition order, stabilize the cost of the bank’s debt side, and create favorable conditions for the bank’s sustainable development.

　　"In the short term, the impact is uncertain, and it is hard to say that there is a calculation. In the medium and long term, the improvement of the independent pricing ability of bank loans is conducive to the sustainable and healthy development of banks and is beneficial to banks. " Sun Guofeng believes.

　　(Reporter Huang Hongtao) Under the epidemic situation, the "house economy" is popular, and the prefabricated dishes that can be eaten simply by heating are on fire. While bringing convenience to people, the problems of cutting corners, stale ingredients and bad taste in the processing of prefabricated vegetables can not be ignored. The Consumer Protection Committee of Jiangsu Province recently released the Survey Report on the Consumption of Prefabricated Dishes (hereinafter referred to as the Report), which shows that consumers generally report that the quality of prefabricated dishes is uneven, the taste is not good, the labeling information is incomplete, and there are many problems in logistics distribution and delivery.

　　According to the data of Sky Eye Survey, in recent years, the number of registered enterprises related to prefabricated vegetables has gradually increased. At present, there are more than 68,000 pre-cooked food-related enterprises in China. Among them, nearly 58% of enterprises were established within 5 years. There are also many problems behind the fiery pre-cooked dishes.

　　According to the data of Jiangsu Consumer Network’s public opinion monitoring system, from January 1 to February 10, there were 56,948 public opinions about the pre-made dishes of New Year’s Eve in Jiangsu Province. The problems mainly focused on the quality and price of the dishes, and consumers complained that the dishes were stale, oily, short of weight and expensive. Suspected of false propaganda, the actual goods purchased by some consumers do not match the promotional contents such as business pictures and web pages; The problem of goods transportation, the pre-made dishes ordered by consumers for New Year’s Eve are not delivered, or the goods are received after New Year’s Eve; After-sales problems, merchants cancel orders without consent, and consumers’ requests for refund or compensation for losses are blocked.

　　According to the "Report", consumers are most concerned about food safety, accounting for nearly 30%. At the same time, they are also concerned about whether the price of prefabricated dishes is reasonable, the cost and difficulty of making after purchase, and whether the variety of dishes is complete. The survey results show that many consumers said that they encountered quality problems when buying prefabricated dishes, which were mainly reflected in the deterioration and corruption of dishes, stale ingredients, foreign bodies in prefabricated dishes, and expired phenomena.

　　When asked whether the taste of the dishes reached the expectation, more than 60% of consumers said that the taste of the pre-made dishes was average. Most consumers encounter the problem of unclear labeling information when buying prefabricated dishes, focusing on the unclear information such as the name of the dish, the main ingredients, the weight of the dish, the production date or shelf life, and the price. In terms of the types of prepared dishes, the strongest demand of consumers is to enrich the types of set meals. In addition, the problems encountered by some consumers in the process of picking up goods are mainly slow delivery by merchants or slow logistics distribution.

　　In this regard, Jiangsu Consumer Protection Committee suggested that the prefabricated vegetable industry should ensure food safety and formulate a set of special food safety standards to enhance consumer satisfaction; Standardize product identification in detail to protect consumers’ right to know; Ensure commodity transportation conditions and improve distribution efficiency; Subdivide the variety of dishes to improve the taste and flavor of prefabricated dishes; Multi-party governance, strengthen the supervision and management of prefabricated vegetable market.

　　In addition, Jiangsu Consumer Protection Committee reminds consumers that when enjoying the convenience brought by prefabricated dishes, they should choose the products of regular brands and merchants, pay attention to product labels, make an appointment in time for delivery, and pay attention to inspection when receiving goods.

　　China Banking and Insurance Regulatory Commission today (18th) notified the administrative penalties imposed by the insurance institutions of China People’s Life Insurance Company Limited (hereinafter referred to as PICC Life Insurance Company Limited), China Agricultural Bank Limited (hereinafter referred to as ABC) and China Postal Savings Bank Limited (hereinafter referred to as Postal Savings Bank).

　　After investigation, some policies sold by PICC Life Insurance through six home appliance sales centers, including Hebei and Chengdu, have deceptive behaviors such as propaganda that is inconsistent with the facts; The "1 million self-driving two-insurance products" sold through Alipay platform have the behavior of deceiving the insured with false propaganda; The product of "Mama Le Hospitalization Insurance for Children’s Diseases" sold through Alipay platform has the behavior of not using the registered insurance rate according to the regulations; And there are acts of providing and compiling false reports, documents and materials, such as untrue customer information data, false business involving retrospective management, and untrue personal medical claims data submitted to the original CIRC in 2017. The above-mentioned behaviors seriously infringe on consumers’ basic rights such as the right to know and the right to fair trade, and damage the legitimate rights and interests of consumers.

　　According to the Insurance Law of People’s Republic of China (PRC), China Banking and Insurance Regulatory Commission imposed a total fine of 3.38 million yuan on PICC Life Insurance. Among them, PICC Life Insurance Corporation fined a total of 1.35 million yuan, six home appliance sales centers fined a total of 800,000 yuan, and 15 individuals were administratively punished and fined 1.23 million yuan.

　　After investigation, the Agricultural Bank of China acted as an agent in life insurance business, and there were some behaviors that violated the prudent business rules, such as the implementation of the traceability system of sales behavior was not in place, the traceability basic management was not in place, and some traceability video quality inspection results were not fed back to the insurance company. The life insurance represented by Anyang County Sub-branch, gongyi city Sub-branch and Pingdingshan zhanhe Sub-branch of Agricultural Bank of China involves the traceable insurance business, and there is false agency business. The above-mentioned behavior seriously infringes on consumers’ basic rights such as the right to know, and damages consumers’ legitimate rights and interests.

　　According to the Banking Supervision Law of the People’s Republic of China and the Insurance Law of People’s Republic of China (PRC), China Banking and Insurance Regulatory Commission imposed a total fine of 2 million yuan on the Agricultural Bank. Among them, the head office of Agricultural Bank fined 500,000 yuan, and the fines of three branches totaled 1.5 million yuan.

　　After investigation, the Postal Savings Bank acted as an agent of PICC life insurance business, and there were behaviors that violated prudent business rules, such as the implementation of the traceability system of sales behavior was not in place, the formulation of the system implementation documents was lagging behind, the traceable video was not delivered to the insurance company or was missing, and the unqualified business accounted for a high proportion. The sales staff of Rudong County Sub-branch of Postal Savings Bank of Jiangsu Province have committed fixed income to dividend-paying insurance products and cheated the policyholders. The above-mentioned behavior seriously infringes on consumers’ basic rights such as the right to know, and damages consumers’ legitimate rights and interests.

　　According to the Banking Supervision Law of the People’s Republic of China and the Insurance Law of People’s Republic of China (PRC), China Banking and Insurance Regulatory Commission imposed a total fine of 800,000 yuan on the Postal Savings Bank. Among them, the head office of the Postal Savings Bank was fined 500,000 yuan, and Rudong County Sub-branch of Jiangsu Province was fined 300,000 yuan. (CCTV reporter Wang Shantao)