Introduction:

On Sept. 12, 2023, a Taiwanese media report set off an online frenzy about the Chinese actor Deng Chao, who posted a set of photos 26 days after his last photo was posted, in what was seen as a response to previous rumors that he was suffering from depression. His wife, Sun Li, also published a long article on the same day, which sparked a frenzy on social media. This article will explore in detail the story behind the incident and the relationship between Deng Chao and Sun Li.

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Who was the first to expose Deng Chao’s recent situation?

First, let’s review the timeline of the incident. The first to break the news of Deng Chao’s recent situation was the new generation actor Rong Zishan. He revealed that Deng Chao and he had previously filmed the film "Gate of the Sand Sea" together in Xinjiang. During the filming process, the two faced various extreme weather challenges together. However, the film is finally completed, which brings them to a perfect end.

Deng Chao’s response and funny post

Later, Deng Chao praised Rong Zishan’s news, and posted in a humorous way, "This should be tearing up the ceiling of the manga man," and posted photos of the killing scene. In these photos, Deng Chao and Rong Zishan imitated the poses of the cartoon characters behind them, fully demonstrating their humorous and funny nature.

Deng Chao’s appearance and mental state

In these photos, Deng Chao’s appearance is striking. His beard is quite large and his hair is showing a little gray, which makes him look particularly vicissitudes. But more importantly, his expression and demeanor suggest that he is still in a very good state of mind. He can joke as hilariously as usual, which makes it hard to believe that he may be suffering from depression.

Rumors of depression

However, a female internet user claiming to be Deng Chao’s cousin posted a video claiming that Deng Chao had been suffering from depression recently, and was in a very low mood. She even had headaches, panic and other symptoms, so that she could not sleep. Once the news was exposed, it immediately aroused people’s concern and worry.

Speculation has begun that Deng Chao may have fallen into depression due to the poor box office performance of his investment film "China Ping Pong". The film is expected to lose nearly 300 million, which is a significant loss for any investor. After the news broke, it was also noticed that Deng Chao had not updated his social account for an unusually long time, which further exacerbated concerns about his health.

Sun Li’s Yoga Essays

However, a yoga-related article by Sun Li has sparked more speculation on social media. She revealed that she is practicing yoga and used words such as "use your breath as a tool to release stress," prompting some to speculate whether she is trying to use yoga to help Deng Chao manage his emotions, fueling rumors that he is suffering from depression.

Deng Chao’s clarification

But now Mr. Deng’s post has undoubtedly cleared up all doubts. He made it clear that he had not updated his social media account for a long time because he was busy filming, not because of depression. This statement brought some comfort to his fans and put an end to previous speculation.

Sun Li’s sweet post

In addition, Sun Li also made a point of posting on social media to express her support for her husband’s filming in Xinjiang, and showed a wave of affection in a tone of pretend disgust. She revealed that on the set, Deng Chao had been picking up all kinds of stones, intending to make necklaces and jewelry, and even Deng Chao was interested in a stone weighing more than 200 catties, trying to transport it back to Shanghai from Xinjiang. This light-hearted and humorous episode was so hilarious that even Yao Chen posted a comment to ridicule.

The Origin of Emotional Processes

Sun Li and Deng Chao’s relationship can be traced back to when they worked together on the TV series "Golden Dust Family." At that time, they were only young actors, and no one could have predicted that such a deep relationship would develop between them. However, it was in this drama that the relationship between the two began to quietly sprout.

Steady and authentic emotions

Instead of the drama and twists and turns of many celebrity couples, their relationship came one step at a time. After a period of friendship, they gradually discovered that each other was the person they had been looking for. This solid and authentic emotional foundation made their love even more indestructible.

Married life

In 2010, Sun Li and Deng Chao’s wedding became the focus of the media and the public because they were one of the most high-profile celebrity couples in Chinese entertainment. Their wedding was not only solemn and romantic, but also full of personality and creativity, and was hailed as one of the classics of Chinese entertainment.

After their marriage, Sun Li and Deng Chao’s life was full of happiness and warmth. They have a happy family of four, son Deng Ziyuan and daughter Deng Ziwen. Despite their busy careers as a celebrity couple, they always strive to find a balance and put family first. They often spend family time together, traveling and participating in parent-child activities, setting a good example for their children.

To sum up

The relationship between Deng Chao and Sun Li is an unbreakable love story. Their love is full of sincerity and stability. Even in the face of all kinds of rumors and speculation, they still support each other and have gone through a long journey. Their married life is also full of happiness and warmth, setting an example for many people and showing a model of a happy family.

[The sales list of new forces from January to June was announced, and the Qinjie M7 topped the list with nearly 100,000 sales]

According to the latest released data, the market performance of the new power model of Wenjie Automobile, Wenjie New M7, is particularly outstanding in the first six months of 2023. As of June 9, its annual cumulative sales volume has reached 96,500 units, ahead of other new power models, and firmly sits on the throne of China’s new power sales in the first half of 2024. This achievement undoubtedly proves the strong competitiveness of Wenjie Automobile in the new energy vehicle market.

What is even more eye-catching is the Wenjie new M7 Ultra, which exceeded 4,349 units in the first week of its launch, setting a new power model delivery record in China. This not only shows consumers’ strong recognition of the Wenjie car brand, but also shows the outstanding performance of the Wenjie new M7 Ultra.

It is understood that the new M7 Ultra was launched on May 31, with a total of four models, priced at 28.98-32 9,800 yuan. The new car is equipped with Huawei’s latest 192-line lidar (the same as the M9) as standard, which is the highest number of line lidar currently mass-produced. With Huawei’s mature ADS 2.0 high-end intelligent driving, there are few competitors in the same level of intelligent driving experience. This configuration will undoubtedly provide strong technical support for its future driving experience.

The analysis believes that the excellent performance of the new power models of Wenjie Automobile is due to its strong brand strength and product innovation ability on the one hand, and its precise market positioning and excellent marketing strategy on the other hand. With the launch of the 35,000 yuan limited-time car purchase rights, it is expected that by the end of June, the order volume of the new M7 will have a big outbreak. We have reason to expect that in the future market competition, Wenjie Automobile will continue to maintain a strong momentum and bring more high-quality products and services to consumers.

　　According to the British media "Mirror", British technologist Ian Wilson claims to have found the crashed MH370 passenger plane on Google Maps, lying quietly in the jungle of Cambodia.

　　Many netizens searched based on the Google Maps coordinates provided by Wilson (12.089059, 104.151882), and indeed saw the same image.

　　But is this really MH370, which has been missing for four and a half years? Suspicions abound, and so far there is no conclusive evidence to confirm this claim.

　 　 　 　In fact, this is not the first time someone has claimed to have found MH370 on Google Maps.

　　Off the coast of Padang, Indonesia

　　According to the British media "Daily Star", in July this year, some netizens posted a screenshot of Google Maps on social networking sites, pointing out that the picture depicted the crashed passenger plane MH370, which crashed off the coast of Padang, Indonesia.

　　The news quickly spread, and many people believed it to be true. According to Xingzhou.com, Eddie, the head of the Indonesian Padang Disaster Management Committee, then "refuted the rumor", saying that the pictures posted online showed traces of posting productin, and the Indonesian government had never received relevant information.

　　Near the Round Island of Mauritius

　　According to Fox News, in March this year, Australian amateur air crash investigator Peter McMahon said that he had carefully studied Google Maps and confirmed that the wreckage of MH370 was located 16 kilometers south of Round Island in Mauritius in the southwestern Indian Ocean. He has given the information to the Australian Transport Safety Bureau (ATSB) and also claims that the fuselage of the plane is full of bullet holes.

　　A spokesperson for Australia’s Joint Agency Coordination Centre said McMahon contacted the Australian Transport Safety Bureau via Facebook and email in 2016 and 2017, but the date of sending the pictures was November 6, 2009, four years before MH370 disappeared.

　　South Africa’s Cape Coast

　　According to the Daily Mail, in March 2016, Scott Waring, editor of the daily UFO sighting newspaper, reported that while searching for UFO sightings on Google Maps, he had accidentally found the wreckage of a plane suspected to be MH370 off the coast of the Cape of Good Hope in South Africa.

　　Mr. Waring said the satellite photo, taken on June 27, 2015, was 16 months away from the accident, and that it was most likely to have drifted there, based on Australian models of currents that floated MH370. But no debris was found in the area in subsequent searches.

　　The Operational Secrets Behind Google Maps

　　Since the disappearance of MH370, almost the whole world has been actively searching, and many ordinary people also want to do their part. Google Maps has become one of the most efficient search tools.

　　According to British technology media Stuff, Google Maps spokeswoman Susan Cadrecha said that Google occasionally captures some difficult-to-explain images, especially objects moving at high speed underwater, such as fish, water currents, etc., which may form an airplane-like outline and give people the illusion.

　　However, Google Maps does capture "special effects images" of real aircraft.

　　A plane appears to have landed on a rooftop in central Adelaide, Australia.

　　It looks like a plane is parked in the yard of a family in Paraguay.

　　Forbes reported that Google Maps uses multiple satellite images to map the world, and satellites occasionally capture aircraft in flight, which may give users the above-mentioned bizarre images.

　　Google Maps’ satellite imagery is sourced from DigitalGlobe, a US commercial space imagery and geospatial content provider, whose Earth Imaging Satellite is capable of capturing 30-centimeter resolution images.

　　Each of DigitalGlobe’s satellites orbits the Earth 16 times a day and can collect 3 million square kilometers of imagery. Working around the clock, these satellites have long amassed a wealth of data that powers Google Maps.

　　In addition, Google has hired a special team to manually check and correct maps using an internal program called "Atlas." Operators not only check for problems reported by tens of thousands of users every day, but also fix them as needed.

　　Google Maps’ "Scientific Open Way"

　　As well as providing users with navigation, Google Maps has long been a "professional assistant" for explorers and archaeologists.

　　Google Maps was first used by an Italian programmer to discover historic sites. He discovered an ancient Roman manor more than 2,000 years ago. Since then, Google Maps has become a weapon for many archaeologists.

　　Last October, archaeologists discovered 400 mysterious stone gates estimated to be 9,000 years old in a remote desert in Saudi Arabia using Google Maps.

　　David Kennedy, a professor at the University of Western Australia who led the study, said he was contacted by a Saudi doctor with an interest in history who spotted the spectacle on Google Maps. The area is a "hellscape" without vegetation or water, so it has not been explored before.

　　The high-resolution images are "democratizing" archaeological research, Mr. Kennedy said.

　　In May of this year, a British butterfly scientist named Julian Bayliss discovered the last "secret garden" on Earth with the help of Google Maps.

　　According to the technology media The Verge, Belize used Google Maps to observe the African rainforest for 15 years. In 2012, he found a volcano-like mountain range between Mabu and Namuri mountains in northern Mozambique.

　　After six years of observation and research, Belize led an expedition into this pristine tropical rainforest in northern Mozambique. The reason why it is called the last mysterious garden on earth is because of its steep terrain and 700 meters above the ground, which keeps this rainforest the most pristine ecology.

　　In fact, ordinary people can also use Google Maps to start their own exploration and archaeological journey. Google Earth also added an "Explorer" tool last year, which contains introductions from experts in various fields to help you rediscover this wonderful world.

City Express News Late last night,Chen Ze, a well-known game anchor, clashed with his neighbors during the live broadcast. The neighbors loudly reprimanded Chen Ze for disturbing the people every day, and then rushed into his home.

Subsequently, Chen Ze Weibo’s account @ Mushroom Mushroom did not send a message to respond to disturbing people:

At five o’clock in the morning, Chen Ze replied to the netizen: Don’t talk nonsense, it’s better to have more public figures than less …

Early this morning, related topic words rushed to the top of hot search.

Enter [Chao Wen Tian Xia] > >

　　CCTV News (Chao Wen Tian Xia):

　　Both male and female beach volleyball players from China advanced to the top 16.

　　On 14th, China men’s and women’s beach volleyball ushered in a match each. In the women’s sand volleyball preliminaries in the morning, China’s Zhang Xi/Xue Chen played against the South African team Augustine Des/Nell, who was the weakest in the group, and finally won the battle with 2: 0, and successfully advanced to the top 16. In the men’s sand volleyball group match in the afternoon, China team Wu Penggen/Xu Linyin beat Spanish player Pablo 2-0? Herrera/Raul? Mesa. Win all three games and advance to the top 16 with the first place in the group.

　　The boxing men’s 69 kg class China’s Hanati Slamu advanced to the quarter-finals.

　　On the afternoon of 14th, in the men’s 69kg boxing eighth competition of the Beijing Olympic Games, China’s Hanatisramu beat Cameroonian’s Joseph by 9-4. Mulema, made it to the quarter-finals. Hanatisramu won the bronze medal in last year’s World Championships.

　　China’s Zhang Xiaoping in the boxing men’s 81kg class advanced to the quarter-finals.

　　China’s Zhang Xiaoping met Russian artur, runner-up of last year’s World Championships, in the men’s 81kg eighth boxing competition at the Beijing Olympic Games, which ended on the afternoon of 14th. Bette Bief. After four rounds of fierce fighting, Zhang Xiaoping finally beat his opponent with an advantage of 8-2 and successfully advanced to the quarter-finals.

　　China lost to Spain in men’s handball preliminaries and suffered a three-game losing streak.

　　In the third round of men’s handball preliminaries, China lost to Spain 22-36 and suffered a three-game losing streak. This Olympic Games is the first time for China men’s handball team to play in the Olympic Games. Due to the gap in strength, the purpose of this competition for China men’s handball team is to train. In the first match, China, a European powerhouse, lost to her opponent 19-33. In the second match, China lost the match again with the same score of 19-33.

　　China lost to Italy in the water polo preliminaries.

　　On 14th, Yingdong Swimming Pool held six men’s water polo preliminaries. In the end, Croatia beat Germany 13-5, the United States lost to Serbia 2-4, Hungary beat Spain 8-5, Montenegro beat Greece 10-6, Australia beat Canada 8-5, and China lost to Italy 7-19 in the final match.

　　China’s women’s softball team lost 3-1 to Australia.

　　China women’s softball team lost 1-3 to the Australian team in the 9th preliminary round of the Beijing Olympic Games held in Fengtai Softball Field on the morning of 14th. This is the first defeat of the China Women’s Basketball Team since the Beijing Olympic Games. Previously, the powerful China women’s softball team defeated the Netherlands 10-2 and Venezuela 7-1 respectively, winning two consecutive victories. Australia was defeated by Japan and the United States respectively. In the match with China, the Australian women’s softball team can be said to be last stand, who hit two beautiful home runs and won the first victory of the Beijing Olympic Games.

　　Women’s hockey: China lost to the Netherlands 0-1.

　　On the morning of 14th, the women’s hockey competition of Beijing Olympic Games started the third round of the group match. China Women’s Song ushered in the strongest opponent after the start of the competition, the Netherlands, which ranks first in the world. After the start of the game, the Dutch team organized a very fierce counter-grab in the frontcourt relying on its physical advantage and strong impact, and used the opportunity of free kick to continuously put pressure on China, while the China team was relatively passive. In the 21st minute of the game, the Dutch team seized the opportunity of short-corner kick to shoot successfully, leading 1-0, and the score was kept to the end. China’s women’s songs lost 0-1 to the world’s best team, the Netherlands.

Editor: Wang Chao

　　CCTV News:According to the website of the Ministry of Education, the Ministry of Education today issued the Announcement of the 2020 National Postgraduate Entrance Examination (hereinafter referred to as the Announcement). The "Announcement" mentioned that the initial test time for the national postgraduate entrance examination in 2020 will be from December 21 to December 22, 2019; Exam subjects with more than 3 hours will be held on December 23rd. The details are as follows:

　　First, the initial test time

　　The initial examination time of the 2020 national postgraduate entrance examination is from December 21 to December 22, 2019 (8:30-11:30 am and 14:00-17:00 pm every day). Exam subjects with a duration of more than 3 hours will be held on December 23rd (starting time is 8:30, and the deadline is determined by the admissions unit, not exceeding 14:30).

　　The examination time is based on Beijing time. The state will not recognize the postgraduate entrance examination that is not held on the specified date.

　　Second, the initial test subjects

　　The initial test methods are all written tests.

　　On the morning of December 21st, the comprehensive ability of ideological and political theory and management was jointly tested.

　　Foreign language in the afternoon of December 21st.

　　On the morning of December 22, business class 1

　　On the afternoon of December 22nd, Business Class II

　　Examination subjects with an examination time of more than 3 hours on December 23rd.

　　The examination time for each subject is generally 3 hours; The longest examination time for special subjects such as architectural design shall not exceed 6 hours.

　　For detailed examination time, examination subjects and relevant requirements, please refer to the Admission Ticket and the announcement of test sites and enrollment units.

　　Third, the registration requirements

　　The registration of postgraduate entrance examination includes two stages: online registration and on-site confirmation. All candidates who take the postgraduate entrance examination are required to register online, and go to the registration site to confirm the online newspaper information, collect their own images and other related electronic information, and pay the registration fee as required.

　　In principle, fresh graduates should choose the registration point designated by the provincial education entrance examination institution where their school is located to handle online registration and on-site confirmation procedures; Candidates for individual examinations should choose the registration points designated by the provincial education entrance examination institutions where the admissions unit is located to handle online registration and on-site confirmation procedures; Other candidates (including professional degree candidates in business administration, public administration, tourism management and engineering management) should choose the registration point designated by the provincial education entrance examination institution where their work or residence is located to handle online registration and on-site confirmation procedures.

　　The technical service of online registration is the responsibility of the National College Students’ Information Consultation and Employment Guidance Center. On-site confirmation shall be organized by the provincial education entrance examination institutions.

　　Fourth, online registration

　　Online registration time is from October 10 to October 31, 2019, from 9: 00 to 22: 00 every day. The forecast time is from September 24 to September 27, 2019, from 9: 00 to 22: 00 every day.

　　Candidates should log in to "China Postgraduate Admissions Information Network" (public website http://yz.chsi.com.cn, education website http：//yz.chsi.com.cn, hereinafter referred to as "research recruitment network") to register. Before registering, please be sure to browse the application instructions in advance and register according to the online announcements of the Ministry of Education, provincial education entrance examination institutions, registration points and enrollment units.

　　During the registration period, candidates can modify the online registration information or fill in the registration information again. In order to avoid occupying more test places and affecting other candidates’ application, one candidate can only keep one valid registration information.

　　Candidates only fill in one major of an enrollment unit when registering. After the examination is over and the Ministry of Education announces the basic requirements for the candidates’ initial test scores for re-examination, the candidates can learn about the adjustment methods and planned balance of the enrollment units through the adjustment service system of "Yanzhaowang", and independently fill in multiple adjustment volunteers in parallel according to relevant regulations.

　　During the registration period, candidates’ academic qualifications (student status) information will be checked online, and candidates can check the results of academic qualifications (student status) online. Candidates can also log on to the "China Higher Education Student Information Network" (website http://www.chsi.com.cn) to check their academic qualifications (student status) information before or during registration. Candidates who fail to pass the online verification of academic qualifications (student status) should complete the verification of academic qualifications (student status) within the time specified by the enrollment unit.

　　Candidates should accurately fill in personal online registration information and provide real materials as required. If you can’t take the exam, retest or admit because of the wrong information in the online newspaper or the false information, the consequences will be borne by the candidates themselves.

　　For the specific requirements and precautions for online registration, please refer to the Regulations on the Administration of National Postgraduate Enrollment in 2020 (published in http://www.moe.gov.cn, official website, Ministry of Education) and the application notes for "Research and Recruitment Network".

　　There is plenty of time for online registration. It is recommended that the majority of candidates arrange the registration time reasonably to avoid the initial and final peaks of registration and avoid the influence of network congestion on registration. No supplementary report will be made after the deadline, and the registration information will not be modified.

　　V. On-site confirmation

　　On-site confirmation of the specific time and requirements shall be determined and announced by the provincial education entrance examination institutions according to the application situation in the region.

　　Candidates are requested to pay attention to the announcements issued by provincial education entrance examination institutions in time, and complete on-site verification and confirmation of personal online registration information, payment of registration fees, and collection of personal image information as required. Do not reissue it after the deadline.

　　Candidates should submit their resident ID card, academic degree certificate (fresh graduates hold student ID card) and online registration number when confirming on site, which will be checked by the staff at the registration point. Candidates who apply for the special postgraduate enrollment plan of "Retired University Student Soldiers" should also submit their original or photocopy of the "Approval Letter for Joining the Army" and "Retirement Certificate".

　　Candidates should carefully understand and choose to fill in their volunteers in strict accordance with the application conditions and relevant policy requirements. Online registration information will not be modified after the candidates confirm it on the spot.

　　Sixth, print the admission ticket

　　From December 14 to December 23, 2019, candidates can log in to the "Research and Recruitment Network" with their online username and password to download and print the "Admission Ticket" themselves. The Admission Ticket is printed in A4 format white paper, and the front and back sides shall not be altered or written during use. Candidates take the initial test and re-test with the downloaded and printed Admission Ticket and valid resident ID card.

　　Candidates are requested to take good care of their user names, passwords, Admission Tickets, resident ID cards and other documents to avoid losses caused by leakage.

　　VII. Others

　　For other matters related to the entrance examination, please refer to the Regulations on the Administration of National Postgraduate Admissions in 2020, or visit the "Research and Recruitment Network" to browse the application instructions and the online announcements of relevant units.

　　In order to help candidates understand the enrollment policy, the graduate enrollment units will launch the 2020 National Postgraduate Enrollment Publicity and Consultation Week on the "Research and Recruitment Network" from September 19th to 23rd, when the relevant graduate enrollment units will answer the questions of the majority of candidates online.

Zhang Xiaojing, Director of the Institute of Finance of China Academy of Social Sciences and Director of the National Finance and Development Laboratory, The Paper reporter Zhou Yushe

On September 22nd, at the 5th Bund Financial Summit in 2023, Zhang Xiaojing, director of the Institute of Finance of China Academy of Social Sciences and director of the National Finance and Development Laboratory, pointed out that risk and uncertainty are the "bridges" between finance and science and technology innovation. For scientific and technological innovation, the biggest problem is how to deal with the risks and uncertainties faced by innovation and how to cross the "valley of death". For the financial system, risk pricing and risk allocation are its most basic and important functions.

"It is risk and uncertainty that make finance and technological innovation have a natural connection, and also provide a perfect reason for finance to support technological innovation." Zhang Xiaojing said that a financial system has advantages in identifying risks, pricing risks and allocating risks, so it must also have advantages in supporting scientific and technological innovation.

Focusing on China’s financial support for scientific and technological innovation, Zhang Xiaojing pointed out the "soft underbelly":"The lack of risk identification ability, the dysfunction of risk pricing and risk allocation are precisely the Achilles heel of China’s financial system, which has also become the fundamental reason for the lack of financial support for technological innovation."

Zhang Xiaojing said that the "four-in-one" catch-up model (the "structural advantages" of state-owned enterprises, the development responsibility and soft budget constraints of local governments, the institutional preferences of financial institutions and the last resort of the central government) makes the risk pricing and rational allocation of financial resources not determined by the market, but largely influenced by government intervention, leading to distorted risk pricing and improper allocation of financial resources. Some departments get a lot of credit funds, but fail to bear the corresponding risks-this is caused by implicit guarantee, rigid redemption and too big to fail.

However, this does not mean that the government cannot play a role in it, but emphasizes that the role of the government should also be played on the premise of not damaging the decisive role of the market.

"Financial support for science and technology innovation needs an’ ideological enlightenment’." Zhang Xiaojing said that the value of capital depends on future expectations, not the past, which is a real revolution and "ideological enlightenment" in financial epistemology. It is this revolution that laid a theoretical foundation for financial support for scientific and technological innovation: because the current financial support for science and technology innovation depends on the "expectation" of future scientific and technological innovation achievements.

Zhang Xiaojing said that it is necessary to respect the laws of the market economy and promote the reform of financial marketization. Putting the focus of economic development on the real economy does not mean that finance can be dispensed with, or that finance is in a completely subordinate position. The development of China’s socialist market economy in the past 40 years is to liberate the role of finance as a cashier in the planned economy era and give full play to the dynamic role of finance in promoting the transformation of savings-investment and economic catch-up and development.

He said that the relative independence of finance is precisely the premise that finance can better serve the real economy, abandon the "traditional" thinking that finance is only a vassal and mirror image of the real economy, and accurately understand the dialectical relationship between economic and financial symbiosis and common prosperity. The development of finance does not necessarily lead to the hollowing out of the industry, and the strength of American science and technology is closely related to its developed financial system; High-level science and technology can’t stand on its own feet without the support of a modern financial system.

In Zhang Xiaojing’s view, promoting financial market-oriented reform, getting rid of implicit guarantee, illusion and ownership discrimination, and improving the decisive role of finance in risk pricing and risk allocation are the institutional guarantees for financial support for science and technology innovation.

Financial support for science and technology innovation must also understand the law of scientific and technological innovation, especially the basic law of transforming scientific and technological innovation into actual productivity. Experience shows that the influence of the adoption of new technology on productivity growth is underestimated at the beginning and not overestimated at the end, which is generally in a "J curve" mode.

Talking about innovation failure and fault-tolerant mechanism, Zhang Xiaojing said that from the micro level, investment failure should be allowed, and state-owned enterprises should establish fault-tolerant mechanisms. To tolerate fluctuations and bubbles at the macro level, keeping the bottom line of risk does not mean zero tolerance for financial risks. The function of finance is realized in fluctuation, just as the function of price mechanism is that price is realized around value fluctuation. This means that supervision should be inclusive.

In addition, Zhang Xiaojing also talked about preventing technological development from succumbing to financial laws. Technological development is completely determined by market or financial laws, which may deviate from the social optimal goals, such as investing heavily in the research and development of late-stage therapeutic drugs, rather than the research and development of early-stage preventive drugs; AI technology is more oriented to replacing labor than empowering or assisting labor.

"Risk identification, risk pricing and risk allocation are the’ soft underbelly’ of China’s financial system, and the lack of modern financial thinking leads to improper evaluation of science and technology innovation (enterprise) is the’ soft underbelly’ in concept understanding." Zhang Xiaojing concluded that the solutionWe need an ideological enlightenment, leave risk pricing and risk allocation to the market, respect the laws of market economy, grasp the laws of scientific and technological innovation, establish fault-tolerant mechanisms and inclusive supervision, strengthen international cooperation and improve global scientific and technological governance.