"Some time ago, Yu ‘ebao adjusted the upper limit of the personal trading account to 100,000 yuan. I was stunned. I was originally planning to deposit 200,000 yuan in the bank card into Yu ‘ebao. The interest on this money in the bank is too low to be worthwhile; Take it to invest, but I am afraid of risks. Yu’ ebao is indeed a good choice. " What Xue Shao, who has just worked for a short time, doesn’t understand most is why there is an upper limit on the deposit amount of Yu ‘ebao, but there is no deposit in the bank account. Is there any difference between the two?

　　With the maturity of Internet payment technologies such as Yu ‘ebao and WeChat Licaitong, more and more young people choose to deposit their spare money in payment accounts. On the surface, there is no difference between putting money in the bank and putting it on Yu ‘ebao and Licaitong: users have personal payment accounts, which are paid at the same time, and the latter can get much higher income than bank deposits.

　　What many people don’t know is that the balance in payment accounts such as Yu ‘ebao and Licaitong is not the same as bank deposits.

　　First of all, from the subject of providing account services, payment accounts such as Yu ‘ebao were originally opened by payment institutions for the convenience of customers’ online payment, and were mainly used for payment settlement of e-commerce transactions. Bank accounts are opened by banking financial institutions for customers for payment, settlement, preservation and appreciation. The two account opening entities are different.

　　Secondly, from the nature of account fund balance, bank deposit is the creditor’s rights of various organizations (including various enterprises, institutions, organizations) and individuals to the bank, which can be withdrawn or transferred according to the agreed conditions, and from the bank’s point of view, it is a debt to depositors.

　　Payment account balance is not a bank’s debt to depositors, but a monetary fund in essence. Take Yu ‘ebao as an example. It is a balance appreciation service launched by Alipay. Its essence is to buy a money fund named "Zenglibao" provided by Tianhong Fund. In the process of users transferring funds to Yu ‘ebao, Alipay and fund companies can complete the process of fund account opening and fund purchase for users in one stop through the system docking, and there is no charge for using Yu ‘ebao to manage money.

　　The Administrative Measures for Online Payment Services of Non-bank Payment Institutions issued by the People’s Bank of China further illustrates the difference between the balance of payment accounts and bank deposits: the balance of funds recorded in payment accounts is different from the customer’s own bank deposits and is not protected by the Deposit Insurance Regulations, and its essence is the prepaid value entrusted by the payment institution for the customer and the ownership belongs to the customer. Although the monetary fund corresponding to the prepaid value belongs to the customer, it is not deposited in the bank in the name of the customer himself, but in the name of the payment institution, and the payment institution initiates the fund allocation instruction to the bank. That is to say, the payment institution deposits the balance of the payment account in its own name in the bank, and it is actually controlled and controlled by the payment institution. This balance is not protected by the deposit insurance regulations. Once the payment institution has operational risk or credit risk, it may lead to customer property loss.

　　Compared with bank deposits, the balance of payment account is more risky and the income is more uncertain. As a monetary fund, Yu ‘ebao and Licaitong are open-end funds that mainly invest in short-term money market instruments. Besides bank deposit certificates, their investment scope also includes short-term marketable securities such as government bonds, central bank bills, commercial bills and corporate bonds with high credit rating. They are supervised by China Securities Regulatory Commission and have the characteristics of high liquidity and low threshold, and the risk of losses is relatively low.

　　After recognizing the difference between the bank account balance and the payment account balance, the public can deal with the funds in hand more purposefully. If you have some idle funds and you are not sure whether you need them in the short term, it is recommended to buy Yu ‘ebao or Licaitong in case of emergency. However, if you have a large amount of money and are unwilling to take risks, it is still recommended to put it in a bank account.

　　The brown figure moves leisurely in under the greenwood tree, and the fragrance of forage and fruit is overflowing. What is swimming in the water?

　　Capibala under the lens is also cute and cute! The photo of capybara from Nanjing Hongshan Forest Zoo is public, let’s take a look ~

　　The activity of "Master of Yin and Yang", "Guarding Contract and Wildlife Conservation Plan" is in progress! Participate in the activity game to get the activity-limited illustration "The Covenant of Qingquan"; Completing the corresponding task can also unlock the activity-limited avatar box "Capibala".

　　You can get limited rewards such as small animals, capybara, digital collections, space badges, etc. by purchasing the guarded contracts "public welfare capybara ceremony" and "public welfare collection ceremony"!

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　Global supply: The scale of global soda ash production capacity continues to expand, and China contributes a major increase.

In recent years, the global capacity and output of soda ash are increasing year by year. According to Bloomberg, the capacity of soda ash increased from 44.72 million tons in 2000 to 82.95 million tons in 2023. In 2023, China (50%), North America (18%) and Western Europe (11%) are the main soda production capacity distribution areas. According to Bloomberg statistics, in 2000, the global soda production capacity was 44.721 million tons, and it increased to 66.758 million tons in 2014. China was the main source of capacity increase, and the proportion of soda production capacity in China increased from 19.3% to 45.9%, reaching a historical peak. In 2015-2021, the global soda production capacity increase mostly comes from the Middle East and Africa. In 2023, with the launch of natural alkali production capacity in China, the new global production capacity will be concentrated in China.

　 　 　 　Supply in China: capacity expansion by natural alkali method in 2023, and supply may be loose in 2024.

Limited by the industry entry threshold and environmental protection requirements, the growth of soda production capacity in China slowed down from 2016 to 2022, and the new production capacity in 2023 was mainly natural soda production capacity. According to the statistics of Baichuan Yingfu, from 2016 to 2022, China’s soda production capacity expanded from 30.79 million tons to 3,485 tons (including 3.75 million tons of long-term production suspension enterprises). The scale expansion of soda ash production capacity in the future is expected to be limited, and it is mainly natural alkali. In 2023, with the production capacity of 5 million tons in the first phase of Yuanxing Energy Alashan Natural Alkali Project (4 million tons in 2003 and 1 million tons in early 2004), the production capacity of Henan Jinshan Chemical Industry increased by 2 million tons and the production capacity of other soda plants increased slightly, the domestic soda production capacity totaled 41.65 million tons, up by 11% year-on-year.

Demand: the demand for soda ash with flat glass backing, and the application of new energy is rapidly improving.

In 2023, the apparent consumption of soda ash in China was 31.82 million tons (27.26 million tons in 22 years), 73% of which was mainly used in the glass field. In China, glass is the main downstream application field of soda ash, including flat glass, photovoltaic glass and daily-use glass, and their consumption accounts for 43%, 17% and 13% respectively. Followed by baking soda (7%) and silicate (5%) (2023). Among them, from 2019 to now, with the rapid development of domestic photovoltaic industry, the proportion of photovoltaic glass in the downstream application of soda ash has increased significantly, and in 2023, it has surpassed daily glass to become the second largest application field of soda ash.

Related companies

Yuanxing Energy:The company has been deeply involved in the natural soda industry for many years, and the production capacity of soda ash and baking soda ranks among the top in China. By 2023, the company has a capacity of 5.8 million tons of soda ash, 1.5 million tons of baking soda and 1.54 million tons of urea. The company’s natural alkali has a competitive advantage and its production capacity continues to expand. The company plans to build 7.8 million tons of soda ash and 800,000 tons of baking soda in Alashan natural soda project, including 5 million tons of soda ash and 400,000 tons of baking soda in the first phase and 2.8 million tons of soda ash and 400,000 tons of baking soda in the second phase. The first phase of the project was put into trial operation in June 2023; The second phase of the project started construction in December 2023 and is scheduled to be completed in December 2025. Combined with the analysis of this paper, among the different processes of soda ash, trona process has the most advantages in cost and environmental protection, and trona depends on resource endowment. With the continuous expansion of the company’s trona production capacity, it is expected to obtain excess profits in the industry and provide power for the long-term growth of the company’s performance.

References:20240531- TF Securities-Basic chemical industry: soda ash: both supply and demand sides are facing structural changes.

Disclaimer:The above information comes from Huiyang Research Department, and the content does not provide specific operational guidance, and customers should not use it as a reference factor for investment decisions. Buying on this basis is at your own risk, the stock market is risky, and investment needs to be cautious.

(promotion)

　　The weather is cold in winter, and some people are afraid of the cold and don’t want to go out. They just sit on their balcony and bask in the sun through the glass, thinking that this can supplement calcium. Can you really supplement calcium by sunbathing through glass?

　　Sunbathing is to supplement vitamin D.

　　Cao Xuexia, deputy director of the Department of Endocrinology, xuanwu hospital, Capital Medical University, said that the main purpose of sunbathing is not to supplement calcium, but to supplement vitamin D. The main function of vitamin D is to promote intestinal calcium absorption, increase muscle coordination and prevent falls. When in the sun, ultraviolet rays reach the skin, and 7- dehydrocholesterol in the skin will gradually transform vitamin D. However, if you bask in the sun through the glass, the glass will block some ultraviolet rays, and the amount of ultraviolet rays will be obviously attenuated, which will affect the absorption of vitamin D and calcium.

　　Experts suggest that ultraviolet rays should be exposed to the outside world under the condition of adequate protection, and ultraviolet rays will be attenuated through glass, especially B-segment ultraviolet rays that stimulate the skin, which will affect the transformation of vitamin D and thus the absorption of calcium. If you need calcium supplement, most of the calcium still needs to be taken from food, such as milk or calcium tablets.

　　It is advisable to bask in the sun for less than 30 minutes.

　　Sunbathing through the glass really can’t promote the absorption of calcium, and it may even get sunburned. If you really can’t go out for activities, you must also open the window and let the sun directly contact your skin. "Shorts and short sleeves in summer, showing face and hands in winter" is the best choice.

　　It should be noted that the time spent in the sun is not as long as possible, and too long exposure may hurt the skin. Most people can spend 10-20 minutes in the sun every day. Children can spend a shorter time and the elderly can spend a longer time, but it is generally recommended to spend 30 minutes. If necessary, you can wear sunglasses to avoid eye damage caused by direct sunlight, and wearing a hat can avoid hair sunburn. After sunbathing, it is necessary to replenish water in time and vitamin C selectively to inhibit the production of melanin and prevent sunburn.

[car home Beijing Preferential Promotion Channel] Recently, a new round of preferential activities has been ushered in in Beijing, with the highest preferential range reaching 117,900 yuan, and the lowest starting price has dropped to 322,000 yuan, which has brought unprecedented opportunities for consumers to buy cars. If you are interested in this model, please click "Check the car price" in the quotation form to get a higher discount!

The design of BMW i4 is full of modernity and sportsmanship. The front face adopts BMW family-style design language, with a unique air intake grille, which leaves a deep impression. The overall style is simple and atmospheric, and the lines are smooth, which outlines a body outline full of strength. Whether driving on city streets or suburban roads, BMW i4 can attract people’s attention.

The BMW i4 is excellent in body size, with the length, width and height of 4785*1852*1455 mm and the wheelbase of 2856 mm respectively. The body lines are smooth, showing a dynamic dive posture from front to back, showing a strong sporty atmosphere. In terms of track, the front track is 1601 mm and the rear track is 1630 mm, which provides stable driving performance for vehicles. In tyre size, the front tires are 245/45 R18 and the rear tires are 255/45 R18. With the rim design with sports style, the visual impact and handling performance of the whole vehicle are improved.

The interior design of BMW i4 inherits BMW’s consistent sense of luxury and technology. Advanced materials and meticulous craftsmanship are adopted to create a comfortable and elegant driving environment. The steering wheel is made of leather, equipped with manual up and down+front and rear adjustment function, which provides a good grip and adaptability. The 14.9-inch central control screen integrates multimedia system, navigation, telephone and air-conditioning voice recognition control system, which improves the convenience and intelligence of operation. In terms of seats, BMW i4 offers a variety of material choices, including imitation leather, genuine leather and leather /Alcantara mix, ensuring comfort and durability. The main and auxiliary seats can be adjusted in front and back, backrest, height, leg rest and lumbar support, which further enhances the riding experience. In addition, the front seats also have heating function, which provides extra warmth for cold weather. The USB and Type-C interfaces in the car are reasonably distributed, with two in the front row and two in the back row, which is convenient for passengers to charge and transmit data. It is worth mentioning that the front row also has a mobile phone wireless charging function, which provides a convenient charging scheme for modern mobile devices.

The BMW i4 is equipped with an efficient motor with a maximum power of 210 kW and a maximum torque of 400 Nm, which provides powerful power and smooth driving experience for the vehicle.

The owner of car home said that the configuration parameters of Series I 3, 5 and X3 are almost the same, but the shell is different, so he willfully spent more than 100,000 yuan just to buy the face value and personality of i4. As an imported model, the i4 has a unique appearance design, especially the iconic big nostril design, which makes people see its uniqueness at a glance. The owner proudly said that every time he drove out, others would guess that the car was worth 600 thousand, which made him feel very interesting.

□ Our correspondent in Russia, Shi Tianqi

Recently, the Russian-Ukrainian war, which has been delayed for thousands of days, has once again shown tension. The United States finally decided to relax the restrictions on Ukraine’s use of American aid weapons to Ukraine and allow Ukrainian troops to use long-range weapons to launch attacks on Russian mainland. Shortly after the United States "loosened" Ukraine, the Russian Defense Ministry confirmed on the 19th that the targets in Russia were attacked by the American Army Tactical Missile System (ATACMS) used by the Ukrainian army, which happened to be the 1000-day time node when the Russian-Ukrainian conflict broke out.

On the same day, Russian President Vladimir Putin signed a presidential decree and approved the updated Basic Policy of the Russian Federation on Nuclear Deterrence. The Russian side responded that the Biden administration of the United States allowed Ukraine to use long-range weapons aided by the United States to attack Russian mainland before leaving office, which continued to fuel the conflict between Russia and Ukraine and would lead to further escalation of the situation.

The Biden administration intends to "dig a hole"

On the 17th, American media quoted American officials and sources as saying that Biden’s government had allowed Ukraine to use ATACMS to strike targets in Russia. Among them, The Wall Street Journal said that this is a major shift in US policy and may affect future diplomatic efforts and negotiations. The New York Times pointed out that this is a response to the Ukrainian long-term request, and mentioned that this move may change the battlefield situation, and there is also the risk of triggering a greater conflict.

Since the escalation of the conflict between Russia and Ukraine in February 2022, the United States, as one of Ukraine’s most important supporting countries, has provided it with tens of billions of dollars in military and economic assistance. However, in order to prevent the conflict from escalating into a broader direct confrontation, the United States has set some restrictions, such as prohibiting attacks on targets in Russia, while assisting Ukrainian weapons. Ukrainian President Zelensky has repeatedly appealed to the United States to lift the restrictions, but the Democratic government of the United States has not "loosened" under the pressure of different voices at home and abroad.

Analysts here believe that since the Republican government will come to power in January next year, the Biden administration’s policy change aims to leave as many "tingwu" political legacies as possible to prevent US President-elect Trump from reversing the situation. In addition to "loosening" Ukraine, the Biden administration will also provide Ukraine with a new batch of weapons assistance. The Associated Press quoted US officials as saying on the 19th that the United States will provide Ukraine with new weapons worth at least $275 million.

The Ukrainian army responded quickly after the United States "loosened" it. On November 19, Uzbekistan issued a notice saying that the Ukrainian army had attacked an arsenal in Russia about 110 kilometers away from the Russian-Ukrainian border and caused a second explosion. On the same day, Russia said that in the early morning of the same day, the Oblast oblast was attacked by six American ATACMS missiles of the Ukrainian army, five of which were shot down by the Russian air defense system, and the remaining one was damaged due to Russian interception, and its fragments fell into a military area in the state. It caused a fire, but it was immediately put out. On the same day, the conflict between Russia and Ukraine broke out for 1000 days. It was far-reaching that the Ukrainian army used American weapons to attack Russia for the first time.

European allies have different minds.

The "loosening" of the United States has aroused widespread concern among its European allies. However, European countries have obvious differences in attitudes and actions on this issue based on their respective security interests and policies toward Russia.

In recent years, Britain has continued to increase its military assistance to Ukraine, but it has no position on the behavior of the United States. Despite this, the British media reported on the 20th that Ukraine attacked the Kursk region of Russia for the first time with the permission of western countries. The Times quoted a source as saying that the ban on Ukraine using the British "Shadow of the Storm" missile to attack Russia is likely to have been lifted.

France responded positively to the actions of Biden’s government. French President Macron said on the 18th that Biden’s decision to allow Ukraine to use American-made weapons to attack targets in Russia was "a correct decision". Deriviere, France’s permanent representative to the United Nations, hinted that France would support Uzbekistan in cracking down on military targets related to Russian special military operations. French newspaper le figaro reported in a report on 18th that France and Britain had allowed Ukraine to use long-range missiles provided by the two countries to attack Russian deep targets, but later deleted relevant paragraphs in the online version.

Germany is facing the pressure of Biden’s decision, but it remains cautious. According to a report on the website of Sü ddeutsche Zeitung on the 18th, German Chancellor Angela Scholz will not change the principle of providing Taurus cruise missiles to Ukraine. It is reported that Scholz is worried that the supply of Taurus missiles to Ukraine may lead to an escalation of the conflict with Russia. A spokesman for the German Ministry of Defence stressed that all the weapons provided by Germany so far are not long-range weapons.

At the same time, many European countries are worried that the "loosening" of the United States will lead to further escalation of the situation. Italian Foreign Minister Taiani reiterated that the Italian government’s position will not change, saying that "these weapons can only be used in Ukraine". Hungary, Slovakia and other countries have expressed their opposition to this, saying that it is precisely because of the poor foreign policy of the European Union that the conflict between Russia and Ukraine has developed to this point, which has destroyed the relations between countries in continental Europe and intensified Europe’s dependence on the United States.

Russia’s updated nuclear policy counter-measures

The Russian side issued a strong warning to the United States to relax restrictions on the use of long-range weapons to aid Ukraine. Peskov, Russian Presidential Press Secretary, said on the 18th that it is obvious that the outgoing Democratic Party government intends to continue to add fuel to the fire and provoke further escalation of tension. Maria Zacharova, a spokesman for the Russian Foreign Ministry, said in a statement that if Ukraine uses long-range missiles to attack Russian mainland, it will mean that the United States and its client countries will directly participate in the war, "and it will also mean that the nature and nature of the conflict will be fundamentally changed. Under this circumstance, Russia’s counterattack will be an eye for an eye and will never be soft. "

Putin signed a presidential decree on the 19th, approving the new version of the Basic Policy of the Russian Federation on Nuclear Deterrence. According to the relevant documents published on the website of the Russian President, the basic principle of the basic policy of the new nuclear deterrent country is that nuclear weapons are the last means to defend national sovereignty. At the same time, due to the emergence of new military threats and risks, Russia needs to confirm the specific circumstances of allowing the use of nuclear weapons. According to this document, any aggression against Russia and/or its allies by non-nuclear countries with the participation or support of nuclear countries will be regarded as a joint attack by non-nuclear countries and nuclear countries against Russia.

Peskov said on the 19th that if Ukraine attacks Russia with western conventional missiles, then Russia can respond with nuclear weapons according to the new basic policy of nuclear deterrent countries. Naryshkin, director of Russian Foreign Intelligence Agency, said in an interview with Russian Defense magazine on the 20th that some NATO members will never get away with trying to participate in supporting long-range strikes against Russian mainland. Western countries have realized the seriousness of Russia’s position and the necessity of restraining their own actions, because "direct military conflict with Russia will bring them disastrous consequences."

Public opinion in Russia generally regards the US policy adjustment as a "provocation" and a "danger signal". However, some analysts pointed out that Ukraine’s use of American-made weapons is still restricted by the US policy. The Russian side has formed a strong counter-measure against the United States’ "loosening" of Ukraine by lowering the threshold for the use of nuclear weapons, which will make the United States and Ukraine have more scruples when trying to use American-made long-range weapons to attack Russia in the future. In addition, Trump repeatedly criticized the Biden administration for its excessive military assistance to Ukraine, and did not rule out the possibility of adjusting its "loosening" measures against Ukraine after taking office.