Original Jiang Xiangyu Shanghai Law Society

Jiang Xiangyu, director of the Financial Law Research Association of Shanghai Law Society, secretary-general of the Special Committee on Fund Law, senior consultant of Shanghai Xieli Law Firm, doctor of law.

First, the concept and scope of financial data

Regarding data and information, academic and practical circles have different understandings on the use of concepts. In the discussion of most researchers at home and abroad, "data" emphasizes the characteristics that can be automatically processed by machinery and equipment, while "information" emphasizes the transmission of content. Although these two words are semantically different, and countries have different choices when expressing related meanings in legislation, because data protection is inseparable from the use of information technologies such as computers and networks, the two concepts of "data" and "information" are often common. Sometimes it is difficult to distinguish data from information. Information always depends on data storage and transmission, especially in the digital environment, information is transformed into meaningless data "0" and "1", which can only be read and understood by a specific system. In this case, data and information are equivalent. The concept of "data" is used uniformly here.

At present, there is no clear definition of financial data in China’s legislation. Generally speaking, financial data is data collected and used by financial institutions. For personal financial data, Article 27 of the Implementation Measures of the People’s Bank of China for the Protection of Financial Consumers’ Rights and Interests stipulates: "Personal financial information as mentioned in these Measures refers to personal information obtained, processed and kept by financial institutions through business or other channels, including personal identity information, property information, account information, credit information, financial transaction information and other information that reflects certain situations of specific individuals." The "Trial Measures for the Protection of Personal Financial Information (Data)" drafted by the People’s Bank of China pointed out that personal financial information "refers to natural person information obtained, processed and preserved by financial institutions through business or other channels, including but not limited to natural person identity information, property information, account information, credit information, financial transaction information and other information reflecting certain situations of specific natural persons, but excluding natural person information that cannot be identified or associated with specific individuals after technical processing and cannot be recovered". The Technical Specification for the Protection of Personal Financial Information issued by the People’s Bank of China on February 13, 2020 stipulates that "personal financial information" refers to personal information obtained, processed and saved by financial institutions through providing financial products and services or other channels, mainly including account information, identification information, financial transaction information, personal identity information, property information, loan information and other information that reflects certain situations of specific individuals.

What is a financial institution has always been controversial. From the data controller’s point of view, in addition to traditional licensed financial institutions, financial institutions should also include new licensed financial institutions related to the Internet and local financial organizations (institutions). The Technical Specification for the Protection of Personal Financial Information stipulates that "financial institutions refer to licensed financial institutions supervised and managed by the national financial management department and related institutions involved in personal financial information processing".

According to the focus of data supervision, financial data can be divided into three parts: personal financial data, important financial data and other financial data. Personal financial data and important financial data are regulated by special legislation and subject to special regulatory requirements, while other financial data are mainly subject to general data supervision laws and regulations. Personal financial data is a part of personal data and the most sensitive part of financial data, because it involves all kinds of personal sensitive information. Personal financial data comes from many financial activities, such as securities, banking, insurance, macroeconomic supervision, etc., including static basic personal information of customers and dynamic transaction data obtained by financial institutions in the transaction process. As for the important data in financial data, because it is of great significance to national financial security and risk prevention, it also needs to be highly concerned and valued, and its scope and protection methods should be clarified as soon as possible.

The Technical Specification for Personal Financial Information Protection classifies personal financial information into C3, C2 and C1 according to the sensitivity from high to low according to the influence and harm caused by unauthorized viewing or unauthorized change of information. C3 information is mainly user authentication information. Once this kind of information is viewed or changed without authorization, it will cause serious harm to the information security and property security of the subject of personal financial information. C2 category information mainly refers to personal financial information that can identify the subject identity and financial status of specific personal financial information, and key information used for financial products and services; Category C1 information mainly refers to the information assets within the institution, and mainly refers to the personal financial information for internal use of financial institutions. "Financial institutions" should first identify the personal financial information involved in the daily operation process, classify it according to the sensitivity of "C3, C2, C1" in the Code, and try to link and coordinate it with the internal existing data assets classification. In addition to the classification of personal financial information with the above sensitivity according to the Code, it is especially necessary to pay attention to the high-sensitivity information that may be generated by the correlation, combination or analysis of low-sensitivity information.

Financial data covers two parts in content, one is the original information collected in various ways in business activities, and the other is the secondary information obtained after the original information is analyzed, sorted and processed by big data. When defining financial data, we should not be limited to the data itself, but should comprehensively consider the process of data generation, conversion, use, transmission, storage, encryption, decryption, destruction, etc. In this process, financial data has undergone different forms of evolution, under the control of different subjects, and plays different forms of functions.

Second, the background and characteristics of financial data protection

(1) Financial data protection and confidentiality obligations of financial institutions’ customers

The financial industry attaches natural importance to data protection. Compared with other fields, the financial industry’s protection of data can be said to be earlier and stronger than other fields in terms of ideas and measures. Because it involves the safety of personal assets, the financial industry has put forward higher requirements for the confidentiality obligation of financial institutions at the beginning of its formation (financial data can basically be included in the scope of "sensitive information"), and the financial supervision department has always regarded the confidentiality obligation as the focus of financial supervision. This was formed before the era of big data. For example, financial institutions are required to keep confidential the identity data, account information and transaction information of customers, and shall not provide or allow inquiries to the outside world unless otherwise stipulated by laws and regulations. The People’s Bank of China also emphasizes the protection of personal information/data from the perspective of protecting the rights and interests of financial consumers.

However, these traditions of keeping confidential the customer information of financial institutions and protecting the rights and interests of financial consumers are in different dimensions from the protection of customer information and data in the era of big data. After entering the era of big data, customer information has been generally informationized and digitized, and the tradition of confidentiality of customer information and the protection of financial consumers will inevitably extend to the protection of customer financial information and data. Article 23 of the Trial Measures for the Protection of Personal Financial Information (Data) of the People’s Bank of China stipulates that "financial institutions shall establish and improve the personal financial information protection system in the whole life cycle according to the laws, regulations and rules on personal information protection, data security and network security and the provisions of relevant competent departments."

The Technical Specification for Personal Financial Information Protection issued by the People’s Bank of China on February 13, 2020 puts forward comprehensive and systematic system requirements for financial institutions’ financial data protection obligations, which is of symbolic significance. The regulation requires financial institutions to establish a personal financial information protection system, clarify their work responsibilities and standardize their work processes. The management scope of the system should cover the institution, outsourcing service institutions and external cooperation institutions, and ensure that relevant systems are issued and communicated to employees of the institution and external cooperation parties. Relevant systems should at least include personal financial information protection management regulations, daily management and operation procedures, management of outsourcing service institutions and external cooperation institutions, internal and external inspection and supervision mechanisms, emergency handling procedures and plans. The specification also stipulates specific requirements: 1. Formulate regulations on the protection and management of personal financial information, and put forward the guidelines, objectives and principles for the protection of personal financial information of this institution. 2. Carry out classified management of personal financial information. Corresponding security strategies and safeguards should be implemented for personal financial information with different categories and sensitivities. 3. Establish daily management and operation process. Specific protection requirements should be put forward for the collection, transmission, storage, use, deletion and destruction of personal financial information, and the timeliness management regulations of personal financial information should be formulated to ensure compliance with laws and regulations and relevant regulations of the competent departments of the industry. 4. Establish a hierarchical authorization management mechanism for information systems. Under the premise of not affecting the performance of legal obligations such as anti-money laundering, the authority and scope of use of personal financial information of personnel of this institution shall be formulated, and a special authorization approval process shall be formulated.5. Establish management norms and systems for desensitization of personal financial information (such as shielding, de-labeling, anonymization, etc.), and clarify desensitization rules, desensitization methods and use restrictions of desensitized data of personal financial information at different sensitive levels. 6. Establish a personal financial information security impact assessment system according to relevant national and industry standards, and conduct personal financial information security impact assessment regularly (at least once a year). 7. Establish a management system for outsourcing service institutions and external cooperation institutions, including but not limited to: a. Review and evaluate the relevant outsourcing service institutions and external cooperation institutions during the life cycle of personal financial information, and assess whether their personal financial information protection ability meets the requirements of the state, industry authorities and financial institutions; restrict outsourcing service institutions and external cooperation institutions from retaining C2 and C3 information through agreements or contracts; If it is really necessary to keep the payment account number and other information in C2 information due to business needs such as clearing, error handling, etc., financial institutions should clarify their confidentiality obligations and responsibilities, implement security control measures according to security requirements, and keep relevant information on file for future reference; For outsourcing service agencies, external cooperation agencies and their personnel who may access personal financial information, financial institutions should require outsourcing service agencies and external cooperation agencies to convey personal financial information protection security requirements to relevant personnel, sign confidentiality agreements with them, and supervise the implementation of the agreements. B the database storing personal financial information should not be handed over to an external cooperative organization for operation and maintenance.C the implementation of personal financial information protection measures of outsourcing service institutions and external cooperation institutions shall be confirmed regularly, including but not limited to external information security assessment and on-site inspection. D. If it is otherwise stipulated by national laws and regulations and the competent department of industry, it shall be implemented in accordance with relevant requirements. 8. Establish a personal financial information security inspection and supervision mechanism. We should establish a daily inspection mechanism and workflow for personal financial information security, regularly evaluate the shortcomings in personal financial information management, and adjust the inspection mechanism and workflow in time. 9. Personal financial information disclosure and other related incidents should be incorporated into the emergency response mechanism of institutional information security incidents, and special processes and plans should be formulated. Regularly evaluate emergency handling processes and plans, timely safeguard and effectively respond to personal financial information security incidents, and reduce the losses and adverse effects caused by security incidents. 10. Establish personal financial information complaints and complaint handling procedures, clarify the complaint and complaint acceptance departments and handling procedures, and accept and verify the personal financial information collected by financial institutions when the subject of personal financial information requests correction or deletion, and handle it according to the requirements of the state and industry authorities. 11 clear personal financial information sharing, storage, use and destruction of the period, with the ability to control the timeliness of personal financial information storage.

(2) The traditional protection concept of financial institutions and digital economy and digital finance.

There is competition between the requirements of customer data confidentiality in the traditional financial industry and data protection in the data age. However, under the traditional financial services, financial institutions’ security obligations mainly focus on protecting customers’ personal and property safety, preventing customers’ funds from being lost or stolen, and protecting customers’ financial information. In the era of big data and artificial intelligence, customers’ information security (data security) and capital security have gradually become the focus, and information security (data security) has become the core content of financial institutions’ security obligations. The traditional concept of protecting financial data can no longer be used. While ensuring data security, the sharing and use of financial data is of increasing significance to the business development and risk control of the financial industry, that is, data-driven artificial intelligence will play an increasing commercial value. In the era of big data sharing and rational use, data-driven is also facing the problem of protecting personal information, and the financial field urgently needs to integrate the concept of data protection in the era of big data and artificial intelligence.

At the same time, in view of the fact that financial data protection usually involves personal sensitive information and is highly accurate, especially information such as account data, transaction data and credit data may be used by counterparties or the outside world, which may cause possible economic losses to customers. At the same time, due to the magnitude and complexity of financial industry data, the actual risk of financial data leakage is greater, and higher requirements are put forward for risk control, information security and data protection capabilities and technical processing means of financial data.

(C) changes in financial data controllers

With the advent of the digital economy, excluding the financial supervision department, the controllers of financial data are not limited to traditional licensed financial institutions, such as banks, securities companies and insurance companies. Large technology companies and Internet companies have entered the financial field. For example, Alibaba Group and Tencent Company have obtained numerous financial licenses, and Ant Financial has been included in the pilot scope of the national financial holding company, which can carry out new financial services that combine finance with the Internet, such as payment services, online banking and online insurance. There are hundreds of millions of users in these companies, and the amount of personal financial data and important data collected is huge. The reasonable sharing and use of the massive data they control can bring huge positive benefits to the society. However, from another perspective, Internet companies are also faced with the problem that risk preference and risk culture need time to accumulate when they enter the financial field. The combination of Internet and finance is essentially a financial business, which requires strict financial supervision, and this concept needs time to be truly recognized by Internet companies. Therefore, if these large Internet platform enterprises are not subject to necessary financial supervision or monopolize data for their own fields to form "data islands", it will bring great potential risks to public interests and personal privacy.

In recent years, problems such as P2P and risk control outsourcing of financial institutions have emerged in the field of Internet finance. Data companies other than traditional financial institutions or so-called financial technology companies collect and use a large amount of personal financial data by means of illegal data crawlers, helping financial institutions or P2P companies to achieve loan risk control or debt collection without legitimacy, which has caused negative social consequences.

It must be noted that financial data controllers have evolved from traditional financial licensees to new licensed financial institutions born out of internet companies, and even non-financial institutions. Specifically, financial data controllers mainly include three types of subjects: first, traditional financial institutions, including banks, securities companies, insurance companies, etc., involving users’ financial assets, liabilities, and transaction information; Second, third-party organizations, including payment platforms, e-commerce platforms, logistics channels, etc., and their combinations, involve users’ non-financial transaction information (such as shopping, sales, logistics, etc., which is helpful for users’ behavior pattern analysis) and some financial transaction information; Third, platforms involving cross-institutional and cross-platform full transaction data (such as UnionPay, Network Link, etc.) and credit information platforms (such as People’s Bank of China Credit Information, Hundred Banks Credit Information, etc.).

III. Overview of legislation and supervision of financial data

(1) Legislation on overseas financial data

1. Legislative model

With the advent of the digital economy era, it has become an important legislative task for all countries in the world to formulate laws and regulations on data protection. The European Union and the United States are two main representatives of data legislation and have adopted different legislative models. The EU has adopted a comprehensive legislative model for the protection of personal information, with the General Data Protection Ordinance (GDPR) as the core legislation. The GDPR is very strict, which regards data as the basic right of the information subject and establishes the highest protection standard characterized by the right to be forgotten. The United States has adopted legislation in different fields. At the federal level, there is no comprehensive personal information protection bill similar to GDPR. Instead, in addition to the general laws on privacy law and personal information protection, special provisions are made for personal information protection in the financial field, supplemented by strict illegal penalties. If the EU is a model based on "basic data rights", then the United States is a model based on "free market and strong supervision".

2. Overview of legislation in EU and USA

The main financial data-related legislation in EU includes GDPR and Payment Service Directive 2 (PSD2). EU legislation does not give a special definition of financial data, nor does it recognize financial data as a special type of personal data.

The main legislation related to financial data in the United States includes the Gramm-Leach-Bliley Act (GLBA) and the Regulation P: Privacy of Consumer Financial Information (hereinafter referred to as "Regulation P"). GLBA indicates that the U.S. Congress has begun to pay attention to the privacy protection of users’ financial information under the background of the Internet. The fifth chapter of the bill is dedicated to the privacy protection policy of financial institutions, which is applicable to all financial institutions. At the same time, the bill further requires financial institutions to explain in detail how they collect, share and protect personal information of financial consumers. In order to implement the Act, major financial regulators in the United States have issued a series of industry rules and supplementary rules to clarify the restrictions on information flow, the voluntary withdrawal mechanism and the specific requirements for consumer notification clarity. Regulation P stipulates: (1) Financial institutions must inform consumers in a clear, clear and significant way under what circumstances financial institutions will disclose consumer non-public information to affiliated enterprises or non-affiliated third parties; (2) Financial institutions must regularly inform customers of their privacy policies in a clear, clear and significant way; (3) Financial institutions must provide consumers with an election mechanism to prevent personal information from being illegally disclosed to other third parties. All of them are subject to the Federal Reserve Board, Office of the Comptroller of the Currency, Office of the Superintendent of Savings and Loans (OTS)Financial institutions supervised by eight federal regulatory agencies, such as deposit insurance companies, securities exchange maintainers’ association, National Credit Cooperative Administration, Federal Trade Commission and Commodity Futures Trading Commission, shall abide by the P Regulation. At the same time, the above-mentioned regulatory agencies have also specially issued the "Standards for the Security and Confidentiality Protection of Customer Information", which set the security standards for consumers’ personal information and transaction records in terms of management, technology and inspection procedures, so as to specifically implement the information security requirements of GLBA.

(B) Overview of China’s financial data protection legislation

At present, there is no separate legislation on personal information protection and data protection in China, and the Cyber Security Law and related laws in the financial industry only make some general and principled provisions. The specific legislation of financial data protection is mainly reflected in departmental regulations and national standards. For example, in December 2016, the Implementation Measures of the People’s Bank of China for the Protection of Financial Consumers’ Rights and Interests was promulgated, which clearly required financial institutions to establish and improve various internal control systems for the protection of financial consumers’ rights and interests. The third chapter of the measures stipulated the institutional framework for the protection of personal financial information in the form of a special chapter. Although China’s legislation has initially regulated the protection of personal financial information, due to the new problems and risks caused by the era of big data, the pace of legislation is slightly lagging behind the development of the times. In the era of big data, financial information has a more dynamic and broad trend, including non-content metadata in addition to general financial information, which is not involved in traditional information protection legislation. Specifically, the current situation of China’s financial data legislation mainly has the following characteristics:

(1) The legal provisions on financial data are mainly reflected in the policy documents and departmental rules of the financial supervision department, and a preliminary normative system has been formed, but the level is not high and it is distributed in various departmental laws, which is relatively scattered.

(2) The legislative idea is to legislate mainly from the traditional perspective and concept of customer information confidentiality in financial business, rather than from the perspective of personal information protection from the aspects of information collection, control, processing and sharing, which is insufficient for the legislative supply of digital finance.

(3) The provisions on the rights and obligations of financial data protection are generally comparative, and the binding and legal consequences of legislative implementation are relatively extensive, and the actual implementation and supervision are weak.

It is noteworthy that the specialized legislation "Personal Information Protection Law" and "Data Security Law" have been included in the 13th legislative plan of the National People’s Congress Standing Committee (NPCSC) and are expected to be promulgated soon. The People’s Bank of China has also issued the "Trial Measures for Personal Financial Information (Data) Protection (Draft)" for comments. The above problems need to be solved after the top-level design of Personal Information Protection Law and Data Security Law is completed.

At present, the specific legal norms, policy documents and standards related to financial data protection in China are summarized as follows:

1. Legal level

At the legal level, there are provisions on the protection of financial data: Civil Code (draft for comment), General Principles of Civil Law, Network Security Law, Consumer Protection Law, Electronic Commerce Law and Criminal Law. Among them, the Cyber Security Law provided the most comprehensive legal provisions for data security and personal information protection before the promulgation of the Personal Information Protection Law and the Data Security Law. The Cyber Security Law is conceptually in line with the current international rules and the legislation on personal information protection in Europe and America, and incorporates the main principles of personal information protection, including the principle of clear purpose, the principle of consent and choice, the principle of minimum sufficiency, the principle of openness and transparency, the principle of quality assurance, the principle of ensuring security, the principle of subject participation, the principle of clear responsibility and the principle of disclosure restriction.

In addition, legislative documents at the legal level include the Decision of the Standing Committee of the National People’s Congress on Strengthening the Protection of Network Information adopted in 2012, the Criminal Law Amendment VII adopted in 2009, and the Criminal Law Amendment IX adopted in 2015. At the same time, the national legislature has scattered departmental laws on the protection of financial data in the separate financial laws of securities, banks, funds, insurance and other industries, mainly from the perspective of customer confidentiality. For example, Article 6 of the Law on Commercial Banks stipulates: "Commercial banks should protect the legitimate rights and interests of depositors from any unit or individual." Article 29 stipulates: "Commercial banks should follow the principle of … keeping depositors confidential when handling personal savings deposit business. For personal savings deposits, commercial banks have the right to refuse any unit or individual to inquire, freeze or deduct, except as otherwise provided by law. " Paragraph 1 of Article 5 of the Anti-Money Laundering Law stipulates: "Customer identity information and transaction information obtained by performing anti-money laundering duties or obligations according to law shall be kept confidential; It shall not be provided to any unit or individual except in accordance with the law. " Article 41 of the Securities Law revised in 2019 stipulates: "Securities trading places, securities companies, securities registration and settlement institutions, securities service institutions and their staff shall keep investors’ information confidential according to law, and shall not illegally buy, sell, provide or disclose investors’ information. Securities trading places, securities companies, securities registration and settlement institutions, securities service institutions and their staff shall not disclose the business secrets they know.

2. Administrative regulations and departmental rules

Administrative regulations and departmental rules that provide for the protection of financial data mainly include: real-name registration system Provisions on Personal Deposit Accounts (Order No.285 of the State Council), Measures for the Administration of RMB Bank Settlement Accounts (Order No.5 of the People’s Bank of China [2003]), Measures for the Administration of Customer Identification and Customer Identity Information and Transaction Records of Financial Institutions (Order No.2 of the People’s Bank of China [2007]), Interim Measures for the Administration of Basic Database of Personal Credit Information (Order No.3 [2005] of the People’s Bank of China), Regulations on the Administration of Credit Information Industry (Order No.631 of the State Council), Regulations on the Protection of Personal Information of Telecommunications and Internet Users (Order No.24 of the Ministry of Industry and Information Technology), Measures for the Assessment of Exit Safety of Personal Information and Important Data (Draft for Comment) (April 2017), Guidelines on Information Disclosure of Business Activities of Information Intermediaries in peer-to-peer lending (No.113 [2017] of the Banking Commission), Guidelines on Data Governance of Banking Financial Institutions (No.22 [2018] of the Banking Commission), Measures for the Supervision and Management of Financial Services of Commercial Banks (Order No.6 of China Banking and Insurance Regulatory Commission in 2018) and Provisions on the Management of Financial Information Services (issued by the Internet Office in December 2018).

In May 2019, the Internet Information Office issued several draft regulations for comments, all of which involved the protection of financial data, including: Measures for Network Security Review (draft for comments), Measures for Data Security Management (draft for comments) and Measures for the Administration of Personal Information Exit (draft for comments). In addition, the People’s Bank of China issued the Trial Measures for the Protection of Personal Financial Information (Data) (Draft) and the Implementation Measures for the Protection of Financial Consumers’ Rights and Interests (Draft) in 2019.

3. Policy document level

Policy documents related to the protection of financial data mainly include: Notice of the People’s Bank of China on the Protection of Personal Financial Information by Banking Financial Institutions (Yinfa [2011] No.17), Notice of Shanghai Branch of the People’s Bank of China on Issues Related to the Protection of Personal Financial Information by Banking Financial Institutions (Yinfa [2011] No.17), Notice of the People’s Bank of China on Banking Financial Institutions to Further Protect Customers’ Personal Financial Information (Y.F. [2012] No.80), Notice of the People’s Bank of China on Further Strengthening the Security Management of Credit Information (Y.F. [2018] No.102), Notice of China Banking Regulatory Commission on Strengthening the Customer Information Management of Electronic Banking (Y.J.F. [2011] No.86), Circular of the General Office of the People’s Bank of China on the Special Inspection of Personal Financial Information Protection in 2013 (No.131 [2014] of the Bank of China) and Notice of the People’s Bank of on Printing and Distributing the Implementation Measures for the Protection of Financial Consumers’ Rights and Interests of the People’s Bank of China (No.314 [2016] of the Bank of).

4. National standards and industry standards.

National standards and industry standards related to financial data protection mainly include: Information Security Technology Personal Information Security Specification (GB/T 35273—2020, issued by State Administration of Markets and State Standardization Administration on March 6, 2020), Personal Financial Information Protection Technical Specification (issued by China People’s Bank and National Financial Standardization Committee on February 13, 2020), and Payment Information Protection Technical Specification (GB/T 35273—2020).

IV. Overview of Financial Data Protection Supervision in China

China has implemented strict supervision and strong supervision in the financial sector for a long time, and the requirements for licensed operation in the financial sector have always been stronger than those in other fields, and it adheres to the regulatory idea of separate operation. In banking, securities, insurance and other financial fields, ministerial-level financial supervision departments have been established with the People’s Bank of China as the central bank, such as China Banking and Insurance Regulatory Commission and China Securities Regulatory Commission.

For financial data supervision, the whole network security legislation and personal information protection and data security legislation mostly highlight the role of the network information department. Article 8 of the Network Security Law stipulates: "The national network information department is responsible for coordinating network security work and related supervision and management work. The State Council telecommunications authorities, public security departments and other relevant organs shall be responsible for network security protection, supervision and management within their respective functions and duties in accordance with this Law and relevant laws and administrative regulations. " Therefore, China’s thinking on financial data supervision is to emphasize the unified supervision of the departments such as network information, public security, and industrial information, and also to give full play to the advantages of industry supervisors or regulatory departments in different industries. Because financial data and financial business are closely related, the protection of financial data can be included in the existing financial business supervision, that is, it is included in the scope of supervision by the existing financial supervision departments, so it is likely to form the problem of data protection supervision concurrence in the field of financial supervision in the future (it may also occur in other fields).

At present, the supervision of financial data in China is as follows:

(1) Functional supervision of data security and protection

From the legislative point of view, the network information department is responsible for the supervision of personal information security, and the Ministry of Industry and Information Technology, the Ministry of Public Security, the Ministry of National Security, and the State Secrecy Bureau all have the right to punish issues involving personal information security within their scope of duties according to relevant legislation.

(B) the financial sector supervision

1. From the perspective of financial industry supervision, the financial supervision departments of traditional financial institutions such as securities, banks and insurance are in a favorable position and can supervise and punish the financial data protection of financial institutions on a daily basis.

2. Financial supervision of Internet enterprises and technology enterprises. In practice, a large number of financial data controllers are not financial institutions, but large-scale technology companies and Internet enterprises. If such enterprises engage in financial licensing business such as payment, credit and insurance, they will control and process financial data, and their supervision should be subject to departmental supervision according to the types of financial business they are engaged in.

(3) Supervision of competition order involving data competition

In the process of sharing and using financial data, it is easy to produce "data islands" and unfair competition behaviors, and national and local market supervision departments, including anti-monopoly departments, have the right to investigate and punish them.

It can be seen that if only the financial supervision department supervises financial data, there will be a lack of professional knowledge in the field of data, and if it is completely supervised by the network security protection department such as the Network Information Office, it may lose consideration of the financial attributes of data; At the same time, the entry of large-scale technology companies and internet companies into the financial sector has increased the complexity and potential risks of supervision, and also posed new regulatory challenges to the data competition in the data age.

Therefore, in the Personal Information Protection Law and the Data Security Law being formulated, the first thing to be solved is the confusion of the legal system caused by the current decentralized legislation on personal data protection, and the general issues of personal data protection are clearly defined to enhance the stability of legal application and the predictability of legal results. At the same time, the coordination of financial data supervision should also be stipulated, and it is imperative to establish an effective financial data supervision mechanism oriented to the future of digital economy.

Article 5 of the Measures for the Administration of Data Security (Draft for Comment) stipulates that under the leadership of the Central Cyber Security and Informatization Committee, the national network information department shall coordinate, guide and supervise the security protection of personal information and important data, which is more practical. For financial data supervision, the national network information department can coordinate, guide and supervise, and the competent supervision department of the financial industry conducts daily supervision.

In addition, the supervision of financial data should play the role of industry associations, which can encourage financial institutions to provide financial privacy protection higher than legal standards by promoting core enterprises to conclude self-discipline conventions on financial privacy protection. In order to avoid the self-discipline convention becoming a mere formality, trade associations can join relevant enterprises in the self-discipline convention to voluntarily accept the supervision and inspection of the association, assess the implementation of the privacy policies of financial institutions, and announce the terms of the inspection results to the public, so as to improve the transparency of the implementation of the self-discipline convention and privacy policies, thus forming public pressure on financial institutions to improve their privacy protection level.

Shanghai Law Society welcomes your contribution.

fxhgzh@vip.163.com

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Original title: Jiang Xiangyu: Research on Legislation and Supervision of Financial Data Protection in China.

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　　People’s Daily Online, Beijing, April 24 (Fang Jinglun, Zhu Jiang) Recently, the 25th meeting of the Central Committee for Comprehensively Deepening Reform (hereinafter referred to as the meeting) deliberated and adopted the Guiding Opinions on Strengthening the Construction of Digital Government.

　　The meeting pointed out that strengthening the construction of digital government is an important measure to innovate the concept and mode of government governance, which is of great significance to accelerating the transformation of government functions and building a government ruled by law, a clean government and a service-oriented government.

　　"Digital government is an important support for promoting the modernization of the national governance system and governance capacity." Ouyang Kang, dean of the National Governance Research Institute of Huazhong University of Science and Technology, said that using data to lead, express, recognize and deal with various issues can form a powerful driving force for social governance.

　　Digital government will bring convenience to ordinary people.

　　The meeting pointed out that it is necessary to satisfy people’s yearning for a better life as the starting point and foothold of digital government construction, and to create a ubiquitous, intelligent, convenient, fair and inclusive digital service system, so that people can run less errands and run more data.

　　Liang Ma, a special researcher at the National Development and Strategy Institute of Renmin University of China and a professor at the School of Public Administration, said that the construction of digital government is people-centered, and everything starts from the needs of the people and provides high-quality public services through digital means. For example, design a simpler interactive interface and a more efficient workflow for government software.

　　"Further building a digital government can make the government’s service areas broader, service content richer, service methods smarter and more convenient, and service effects more humanized, so that people’s sense of acquisition, happiness and security can be significantly improved." Ouyang Kang, for example, in the face of the epidemic, a series of digital means, such as trip code and health code, provided strong support for timely monitoring the evolution of the epidemic, publishing the epidemic dynamics, judging the epidemic situation, and implementing epidemic prevention and control measures, and also made more people feel the value of the digital transformation of the government in improving social governance and public service capabilities.

　　The "Strong Observation" column of People’s Daily found that the related work of digital government construction in China is progressing steadily. China takes the national government service platform as the general hub, connects the government service platforms of various regions and departments, and forms a national integrated government service platform. By December 2021, the platform had more than 800 million real-name users. The Opinions of the General Office of the State Council on Accelerating the Expansion of the Application Fields of Electronic Certificates and National Mutual Recognition proposes that by the end of 2022, the certificates commonly used by enterprises and the masses will be basically electronic, issued and applied synchronously with the physical certificates, and the standards will be unified and mutually recognized nationwide … …

　　The construction of digital government will improve the efficiency of government governance

　　The meeting pointed out that it is necessary to use digital reform to help transform government functions, coordinate and promote the intensive construction, interconnection and collaborative linkage of government application systems in various industries and fields, and give play to the important supporting role of digitalization in the government’s performance of economic regulation, market supervision, social management, public services and ecological environmental protection, and build a coordinated and efficient government digital performance ability system.

　　Specifically, how to understand the transformation and support of government functions brought by the construction of digital government?

　　Ouyang Kang said that strengthening the construction of digital government can promote the accuracy of social cognition. Through big data, the government can fully, accurately and timely understand the real situation and evolution trend of all members of society, so as to make appropriate value judgments and trend analysis of social conditions and people’s feelings, and build good governance of the government on the basis of being more in line with social reality.

　　"At the same time, it can promote the scientific decision-making of the government." Ouyang Kang further stated that the government can use big data and intelligent decision-making system to intelligently compare various important decisions through various alternatives, make scientific pre-research and risk assessment on their possible consequences and their long-term effects, and strive for scientific decision-making, optimize decision-making and promote scientific decision-making.

　　There are also these key points in the construction of digital government.

　　The meeting pointed out that it is necessary to promote technology integration, business integration and data integration as a whole, and improve the collaborative management and service level across levels, regions, systems, departments and businesses.

　　Ouyang Kang said that the overall requirements and strategic measures put forward by the meeting will hopefully solve the problem of "information islands" formed by the lack of communication between all aspects and types of data, and help realize the integration and sharing of data.

　　In addition, the meeting pointed out that we should always tighten the string of data security, speed up the construction of an all-round security guarantee system for digital government, and comprehensively strengthen the security management responsibility of digital government.

　　"We must establish the bottom line thinking and regard digital security as the ‘ Lifeline ’ Incorporate into the overall national security concept system and implement it through legislation, establishment of technical security support system and digital security guarantee system. " Ouyang Kang said.

1905 movie network news　Directed and produced, produced and starred, and starred in the film has been released nationwide on July 30. At present, the cumulative box office of the film has exceeded 1.10 billion, and it has won the box office championship of Chinese action film in 2021. In addition to its excellent box office performance, its excellent quality has also won a strong reputation for the film, maintaining a bright high score on both domestic and overseas platforms. Whether it is the dizzying fierce fighting, or the delicate and compact storyline, the audience is holding their breath and fully engaged. Some audience members bluntly said, "I dare not blink the whole time, for fear of missing every detail." "This is the standard of Hong Kong-made police and bandit action movies."

Donnie Yen Nicholas Tse street drag racing chase

Audience: It’s still quite enjoyable to watch the second brush for the car chase.

In the car chase scene in Tseung Kwan O, Donnie Yen chased Nicholas Tse, who was riding a motorcycle, and the bloody scene of the two racing through the window left a deep impression on the audience. Some audience members bluntly said, "For the second brush of Donnie Yen Tse’s car chase scene, it’s still very enjoyable to watch it again!" In the process of the police chasing the gangsters, the thrilling scenes of cars rushing through the traffic, leaping over railings and colliding with each other also made the audience sigh, "What a real car chase, the whole process is smooth and silky, and it’s amazing." A car chase scene exposed in the movie featured urette, which revealed the panorama of the shooting and production of the street racing battle between police and bandits in Tseung Kwan O. In order to maintain the true texture while pursuing visual effects, the film adopts the combination of real-life shooting and CG technology to present the audience with rich layers and the most impactful pictures.

Focusing on one move at a time, constantly seeking breakthroughs

Donnie Yen: My pursuit is to showcase Chinese culture

In the film, Donnie Yen portrays a flesh-and-blood police officer, Zhang Chongbang, who not only shows extraordinary combat skills, but also gets praise from the audience for his control of details and emotions. "Through subtle expressions to convey the character’s emotions, the atmosphere is just right, Donnie Yen portrays Zhang Chongbang clearly and three-dimensionally." In an interview with foreign media "Collider", Donnie Yen admitted, "I still have a pursuit, hoping to show the identity of Chinese characters and Chinese actors, as well as Chinese culture, my roots." Donnie Yen has invested more and more energy in the shaping of film characters, seeking breakthroughs from characters and stories while focusing on one move and one move. Asked what he planned to do next, Donnie Yen revealed that he was "a workaholic who always has projects in his hands." Although there are still many large projects to be executed on the schedule, he is most looking forward to returning home to spend time with his family.

    Original title: The latest version of the obesity feeding guide for children and adolescents is released

    Starting from the dining table and solving the problem of "chubby pier"

    Recently, National Health Commission released "Guidelines for Children and Adolescents’ Obesity (2024 Edition)". The Guide gives full play to the advantages of modern nutrition and the combination of traditional Chinese and Western medicine, integrates medicinal substances and new food raw materials into a reasonable diet, and provides examples of recipe packages and nutrition and health suggestions for different seasons, regions and people, so as to provide reference for the joint prevention and control of obesity among adolescents and children at home and school, so that children can eat well and healthily. Many primary and secondary schools in Jiangsu provide nutritious meals at lunch time. How do the children eat? How does the school start from the dining table to prevent the "chubby pier"?

    Ensure safety and nutrition "two passes"

    "Are the vegetables fresh? Do you have any yellow withered leaves? Is the meat too fatty? " At less than 6: 30 in the morning, a truck loaded with fresh ingredients arrived at Phoenix Garden City Primary School in Nanjing. Zhu Hong, the general manager of the school, went forward to check and inspect the goods carefully. "Quality does not pass shall be returned! From the ingredients to the meals served to the students’ table, every process is under strict supervision to ensure the safety of students’ meals. " Zhu Hong said.

    Braised pork chops with green peppers and shredded potatoes on Monday, stewed pork ribs with radish and fried pork slices with cauliflower on Tuesday, and served with fruits … On the menu of Phoenix Garden City Primary School, the dishes are not repeated five days a week. "Generally, there are not many duplicate dishes in 3 weeks." Li Shifu, a canteen, told reporters that considering children’s weak stomachs, the canteen should ensure the supply of more than five kinds of seasonal vegetables every day.

    On February 1st this year, the Measures for the Management of Food Safety in Campus Canteen in Suqian City was officially implemented, which is the first local legislation specifically aimed at food safety in campus canteens in our province. In Suqian Suzhou Foreign Language School, the daily menu of the canteen was made by Chen Shufeng, the canteen manager of the school, and she also obtained the qualification certificate of senior nutritionist for this purpose. In the menu on March 11th, the reporter saw that all kinds of ingredients were scientifically matched, nutritious and delicious, including soy chicken nuggets, potato slices, ham stewed baby dishes, garlic-flavored chrysanthemum, tomato mushroom egg soup, rice, bananas and so on. "Our menu pays attention to balanced nutrition. We choose fresh vegetables and high-quality rice noodles. The ingredients will be sampled by the relevant departments before delivery. The results of pesticide residue testing are open and transparent, and it is more safe to use." Chen Shufeng introduced.

    The reporter combed the "Guide" and found that the daily diet should be diversified, and the daily food should include cereals, vegetables and fruits, livestock, fish, eggs and milk, and soybeans and nuts; Eat more than 12 kinds of food every day and more than 25 kinds of food every week. In order to control calorie intake, we should choose small portions of food to achieve food diversity, and control the total food intake according to the energy needs of children and adolescents of different ages. Increase the proportion of fresh vegetables and fruits, whole grains and miscellaneous beans in the diet; Ensure protein’s intake, and choose high-quality protein foods, such as fish, poultry, eggs, lean meat, milk and dairy products, soybeans and their products.

    "Taking the requirements of eating more than 12 kinds of food and small portions every day as an example, it is really difficult in actual operation." AARON Li, deputy chief physician of Pediatrics Department of Provincial Hospital of Traditional Chinese Medicine, believes that children and adolescents should at least have a balanced diet of meat and vegetables to ensure the intake of dairy products and fruits. You can choose more high-protein and low-fat foods such as fish and shrimp to help your child grow and develop.

    Take more measures to make children eat well and eat well.

    Problems such as students’ lack of scientific and healthy dietary concepts and substandard nutrition in school canteens have always been the pain points that plague the nutritional health of primary and secondary school students. "In the regular satisfaction survey of school canteens, we found that high-calorie foods such as fried chicken legs and popcorn are deeply loved by students." Zhu Hong took out a stack of students’ satisfaction questionnaires in the canteen. Among them, in the column of "favorite dishes", many high-calorie foods were impressive.

    Zhu Hong admits that students may not have a more scientific concept of healthy eating, so the school guides everyone to form a scientific concept of eating through activities popular with students such as nutrition and health lectures and "CD-ROM" action textbooks. "I’m afraid that too much food will cause waste, and I’m afraid that students won’t have enough to eat, so we push the canteen master into the class, dynamically adjust the food quantity, and select the’ energy-saving class’ after each meal to help everyone establish a sense of cherishing food."

    The uneven professional skills of nutrition in school canteens are the reasons why the catering nutrition in some school canteens is not up to standard. Yangzhou Municipal Health and Health Commission and Yangzhou Municipal Education Bureau jointly issued the Action Plan for the Construction of Nutritional and Healthy Canteen in Yangzhou City, which clearly requires that all schools should form a good nutritional and healthy atmosphere in the canteen according to the action plan, strengthen the training of employees in making dishes with reduced oil and salt and reasonable dietary knowledge, make nutritional labels for each dish, monitor the nutritional components and the use of oil and salt in the dishes, and gradually reduce the unreasonable use of oil and salt to make more for students.

    Aiming at the problem of nutritional catering in canteens, the Center for Disease Control and Prevention in Jiangdu District of Yangzhou City has developed an intelligent assistant applet for nutritious and healthy canteens-"Ying Xiao Zhu". Taking boiled pork slices as an example, "Ying Xiao Zhu" can display a variety of nutritional information, and can also calculate the nutritional quality index (INQ) of the dish. Through the determination of INQ, the canteen can clearly see the nutritional value and energy supply ratio in the background, helping the canteen to improve the proportion of dishes and make healthier dishes for students.

    Starting from "Mouth" to Control Obesity Reasonably

    In recent years, the obesity rate of children and adolescents in China has risen rapidly, which has become one of the important public health problems. The publication of the Guide is not simply a dietary health guide, but also directly points to the core problem behind it-obesity of adolescents and children.

    "There are not many children who come to see a doctor simply because of obesity, but many boys come to see a doctor because of abnormal breast or genital development. Most of the deep reasons behind it are obesity." AARON Li said that family heredity, eating habits, and reduced exercise may all lead to obesity, but there are many restrictions on the use of drugs for adolescents and children with obesity, and the main intervention method is still the adjustment of diet and exercise.

    The reporter found that the Guide emphasizes the understanding and classification of obesity in Chinese medicine, and also pays attention to the holistic view and dialectical view of Chinese medicine when designing food and nutrition recipes. Why emphasize the role of integrated traditional Chinese and western medicine in controlling obesity in adolescents and children? AARON Li introduced: "Chinese medicine emphasizes the prevention of disease, and it is more gentle to regulate the physical condition of children when they are inconvenient to take medicine."

    Traditionally, "chubby" children are in good health. AARON Li noticed that many children who are slightly overweight do better in resistance. As long as the degree of overweight does not affect their normal study activities and daily life, parents need not worry too much. Parents need to take their children to the hospital in time if they have snoring, breathing with their mouths open, decreased exercise ability, or even diseases such as acanthosis nigricans, fatty liver, sleep apnea, or psychological problems related to obesity. (Cheng Xiaolin, Jiang Mingrui)

　　() The Record Form of Investor Relations Activities was released on September 12, 2024, and the company was investigated by an institution of other types on September 12, 2024. The main contents of investor relations activities are introduced:

　　Q: Is there a timetable for mining in Australia?

　　A: Dear investors, hello! The Mindari mining area project of Murray Zircon Pty Ltd (hereinafter referred to as "Mingrui Zirconium Industry"), the holding company of the company, is currently in trial production. The company will pay close attention to the industry trends and market environment, adjust its strategic planning in a timely manner according to its own operating conditions, and formulate the optimal operating decisions in line with the current situation. At the same time, the company will strengthen governance, optimize internal control processes, and reasonably control operational risks to ensure investment returns. If the follow-up company has relevant progress and involves the obligation of information disclosure, the company will disclose it in a timely manner in accordance with the requirements of relevant laws and regulations. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: It is rumored that mines in Australia will be sold. Is it true? Are there any relevant plans and arrangements?

　　A: Dear investors, hello! The Mindari mining area project of Murray Zircon Pty Ltd (hereinafter referred to as "Mingrui Zirconium Industry"), the holding company of the company, is currently in trial production. The company will pay close attention to the industry trends and market environment, adjust its strategic planning in a timely manner according to its own operating conditions, and formulate the optimal operating decisions in line with the current situation. At the same time, the company will strengthen governance, optimize internal control processes, and reasonably control operational risks to ensure investment returns. If the follow-up company has relevant progress and involves the obligation of information disclosure, the company will disclose it in a timely manner in accordance with the requirements of relevant laws and regulations. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Hello, General Manager, what is the output of zirconium dioxide and zirconium oxychloride in 2023? What is the planned annual output in 2024? What is the actual output by the third quarter of this year?

　　A: Dear investors, hello! Please pay attention to the relevant announcements disclosed. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Hello, General Manager Huang Chaohua, @ Co-General Manager, what are the prices of zirconium dioxide and zirconium oxychloride at the beginning of the year? What is the current price?

　　A: Dear investors, hello! For the price trend of the company’s main products, you can refer to websites such as Asia Metal Network or Ruidao Metal Network. Please pay attention to investment risks! Thank you for your attention and support!

　　Q: Shareholders are delighted to see that the company has the most complete zirconium industrial chain under the leadership of the company’s management and years of painstaking efforts. Excuse me, is Mingrui Mining, a subsidiary, put into production at present, and what is the planned zirconium output this year? What is the reserve of zirconium in Mingrui Mining? Are there other metal associated minerals? If there are metal associated minerals, what kinds of metals are they and what are their reserves?

　　A: Dear investors, hello! The Mindari mining area of Murray Zircon Pty Ltd (hereinafter referred to as "Mingrui Zirconium Industry"), the holding company of the company, is currently in trial production. If the follow-up company has relevant progress and involves the obligation of information disclosure, the company will disclose it in a timely manner in accordance with the requirements of relevant laws and regulations. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Does Beta Volt do business?

　　A: Dear investors, hello! At present, our company has no direct business dealings with Beta Volt. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Has the company made any new progress in the research and development of solid-state battery materials, and how much cake can it get in the solid-state battery industry chain in the future?

　　A: Dear investors, hello! At present, the company is still in the stage of providing samples for the research and development of some solid-state battery materials manufacturers. The company has set up a special technical research and development team to increase the technical research and development and investment of zirconia products for solid-state battery electrolytes. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Have the zirconium and other mineral resources in Australia been effectively exploited, and have they been successfully transported back to China and put into production? How much is the Australian mineral trade expected to improve the company’s performance? In addition, will the company’s finances turn losses into profits in the third quarter?

　　A: Dear investors, hello! The Mindali mining area of Murray Zircon Pty Ltd (hereinafter referred to as "Mingrui Zirconium Industry"), the holding company of the company, is currently in trial production, and the heavy minerals produced have been shipped back to China one after another. Regarding the performance, please pay attention to the company’s follow-up periodic reports. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Does the company cooperate with important domestic companies such as Huawei?

　　A: Dear investors, hello! At present, our company has no direct business cooperation with Huawei. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Does the company have any plans to enhance its core competitiveness, improve its performance, make it bigger and stronger, and repay the interests of investors?

　　A: Dear investors, hello! The company will give full play to the cost control ability of the industrial chain, and continuously enhance the company’s ability to resist cyclical risks through refined management and strict cost control. Continue to increase investment in R&D, improve the quality of R&D, take advantage of the combination of Industry-University-Research, strengthen R&D efforts in emerging key areas such as new energy batteries, photovoltaics, bioceramics and zirconium-based amorphous alloys, continuously optimize the product structure, improve the added value of the company’s products, enhance the company’s core competitiveness, improve the company’s profitability, and create value for investors and repay them. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: The company was selected as a concept stock of hydrogen energy in 2024. Does the company have any practical work in hydrogen energy technology co., Ltd., and can it form wings with solid-state batteries to help enterprises take off quickly?

　　A: Dear investors, hello! At present, the company has supplied zirconium dioxide in hydrogen production from alkaline electrolyte. The company will pay close attention to industry development and market dynamics, pay close attention to scientific research and innovation, continuously expand the application of zirconium products in the field of new energy, and continuously improve the company’s core competitiveness. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: What is the shipment of overseas mines invested by the company? What are the core technologies?

　　A: Dear investors, hello! The Mindali mining area of Murray Zircon Pty Ltd (hereinafter referred to as "Mingrui Zirconium Industry"), the holding company of the company, is currently in trial production, and the heavy minerals produced have been shipped back to China one after another. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: What is the layout of the company’s solid-state batteries?

　　A: Dear investors, hello! In terms of solid-state batteries, zirconium metal, as the core raw material of solid-state electrolyte, is expected to benefit from the rapid growth of solid-state batteries and realize the rapid growth of demand. At present, the company has set up a special technical research and development team to increase the technical research and development and investment of zirconia products for solid-state battery electrolytes, and has provided samples for some solid-state battery material manufacturers to carry out research and development. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: What is the specific development direction of solid-state batteries and what is the specific demand for zirconium as a special metal?

　　A: Dear investors, hello! Solid-state batteries can greatly improve safety, energy density and charging efficiency. As the core of solid-state battery, there are three main technical paths of solid-state electrolyte: polymer, oxide and sulfide. Among them, lithium lanthanum zirconium oxide (LLZO), lithium lanthanum zirconium titanium oxide (LLZTO) and other oxide solid electrolytes pose new potential demands for the company’s zirconium dioxide products. Zirconium metal, the core raw material of solid electrolyte, is expected to benefit from the rapid growth of solid-state batteries and realize the rapid growth of demand. At present, the company has set up a special technical research and development team to increase the technical research and development and investment of zirconia products for solid-state battery electrolytes, and has provided samples for some solid-state battery material manufacturers to carry out research and development. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: What is the storage capacity of zirconium ore in your company? What is the company’s layout in the solid-state battery industry?

　　A: Dear investors, hello! Please inquire about the company’s relevant announcement about the storage capacity of zirconium ore. At present, the company has set up a special technical research and development team to increase the technical research and development and investment of zirconia products for solid-state battery electrolytes, and has provided samples for some solid-state battery material manufacturers to carry out research and development. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Are there any raw materials for solid-state batteries now?

　　A: Dear investors, hello! At present, the company has set up a special technical research and development team to increase the technical research and development and investment of zirconia products for solid-state battery electrolytes, and has provided samples for some solid-state battery material manufacturers to carry out research and development. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Mr. Huang, please tell us about the layout of the whole industrial chain of the company, and what plans are there for high value-added zirconium products. In the complicated international situation, how to protect the company’s foreign interests?

　　A: Dear investors, hello! The company is a key high-tech enterprise of the National Torch Program, which focuses on the research, development, production and sales of zirconium series products. The company has large-scale production bases in Shantou, Guangdong, Lechang, Shaoguan, Jiaozuo, Henan and Chuxiong, Yunnan. The company’s products cover more than 100 varieties and specifications in nine series, including zircon sand, titanium concentrate, monazite, zirconium silicate, zirconium oxychloride, fused zirconium, zirconium dioxide, composite zirconia and zirconia ceramic structural parts, and it has a complete industrial chain covering the upstream and downstream zirconium products. For high value-added zirconium products, the company will give full play to the cost control ability of the industrial chain, and continuously enhance the company’s ability to resist cyclical risks through refined management and strict cost control. Continue to increase R&D investment, improve the quality of R&D, take advantage of Industry-University-Research’s combination, strengthen R&D efforts in emerging key areas such as mobile communication, new energy batteries, photovoltaics, bioceramics and zirconium-based amorphous alloys, continuously optimize product structure, improve the added value of the company’s products, enhance the company’s core competitiveness, improve the company’s profitability, and ensure the company’s sustained and healthy development. Facing the complicated international environment, the company will carefully study the international market situation, vigorously explore the international market, consolidate old customers, develop new customers, and achieve sustained growth in operating income by strengthening enterprise management, actively adjusting product structure, accelerating project construction, earnestly carrying out research and development, vigorously carrying out policies such as energy conservation and consumption reduction, reducing costs and increasing efficiency, and actively responding to the national Belt and Road Initiative.

　　Q: Can the company’s finance turn a profit in the third quarter of this year?

　　A: Dear investors, hello! Regarding the company’s performance in the third quarter, please pay attention to the company’s subsequent periodic reports. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: What is the company’s layout for solid-state batteries?

　　A: Dear investors, hello! In terms of solid-state batteries, zirconium metal, as the core raw material of solid-state electrolyte, is expected to benefit from the rapid growth of solid-state batteries and realize the rapid growth of demand. At present, the company has set up a special technical research and development team to increase the technical research and development and investment of zirconia products for solid-state battery electrolytes, and has provided samples for some solid-state battery material manufacturers to carry out research and development. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: How many companies have provided samples of the company’s battery-grade zirconium dioxide products?

　　A: Dear investors, hello! At present, the company has provided samples for some solid-state battery material manufacturers to carry out research and development. Due to the requirements of trade secrets, it is inconvenient to start, please understand. Please pay attention to investment risks! Thank you for your attention and support!

　　Q: May I ask Chairman Feng: Are there any new breakthroughs in solid-state batteries? What is the expected proportion of zirconium series products in each solid-state battery? Does the company have a separate production plan for solid-state batteries?

　　A: Dear investors, hello! At present, the company has provided samples for some solid-state battery material manufacturers to carry out research and development. Please consult the solid-state battery manufacturer for the application ratio. At present, the company has no separate production plan for solid-state batteries. Please pay attention to investment risks, and thank you for your attention and support!

　　Q: Hello, Manager Huang, how many companies that make solid-state batteries have been sent samples by Dongfang Zirconium Industry?

　　A: Dear investors, hello! At present, the company has provided samples for some solid-state battery material manufacturers to carry out research and development. Due to the requirements of trade secrets, it is inconvenient to start, please understand. Please pay attention to investment risks! Thank you for your attention and support!

　　Q: Mingrui Zirconium Industry is currently in the trial production stage. What is the output of various minerals?

　　A: Dear investors, hello! If the follow-up company has relevant progress and involves the obligation of information disclosure, the company will disclose it in a timely manner in accordance with the requirements of relevant laws and regulations. Please pay attention to investment risks, and thank you for your attention and support.

　　Details of participating institutions are as follows:

Name of participating unit Category of participating units Name of participants online other —

　　Click to enter the official announcement platform of the exchange to download the original text > > >

　　BEIJING, Feb. 8 (Xinhua) According to the website of the Food and Drug Administration, the website of the Food and Drug Administration today announced the Measures for the Administration of Medical Device Recall. The "Measures" stipulate that medical device manufacturers refuse to recall medical devices, and if the circumstances are serious, they will be ordered to stop production and business.

　　On June 1, 2014, the newly revised Regulations on the Supervision and Administration of Medical Devices was promulgated and implemented, which put forward new requirements for the recall of medical devices. China food and drug administration revised the original Administrative Measures for Medical Device Recall (Trial) to form the Administrative Measures for Medical Device Recall, which came into effect on May 1, 2017.

　　The defective medical device products mentioned in the Measures include:

　　(1) Products with unreasonable risks that may endanger human health and life safety under normal use;

　　(two) products that do not meet the mandatory standards and the technical requirements of registered or filed products;

　　(three) products that do not meet the relevant provisions of the quality management of medical device production and operation, which may lead to unreasonable risks;

　　(4) Other products that need to be recalled.

　　The "Measures" stipulate that medical device recalls can be divided into active recalls and ordered recalls according to the different starting conditions of medical device recalls.

　　According to the severity of medical device defects, medical device recalls are divided into:

　　(1) First-class recall: the use of the medical device may or has caused serious health hazards;

　　(2) Secondary recall: the use of the medical device may or has caused temporary or reversible health hazards;

　　(3) Three-level recall: it is less likely that the medical device will cause harm, but it still needs to be recalled.

　　The Measures stipulate that if a medical device manufacturer refuses to recall medical devices in violation of Article 24 of the Measures, the food and drug supervision and administration department of the people’s government at or above the county level shall order it to make corrections and confiscate the medical devices illegally produced, operated or used in accordance with Article 66 of the Regulations on the Supervision and Administration of Medical Devices; If the value of medical devices illegally produced, operated or used is less than 10,000 yuan, a fine ranging from 20,000 yuan to 50,000 yuan shall be imposed; If the value of the goods is more than 10,000 yuan, a fine of more than 5 times and less than 10 times the value of the goods shall be imposed; If the circumstances are serious, it shall be ordered to stop production and business until the original issuing department revokes the registration certificate, production license and business license of medical devices.

　　At the same time, the "Measures" stipulate that medical device operating enterprises and users who refuse to cooperate with the investigation of medical device defects and refuse to assist medical device manufacturers in recalling medical devices shall be given a warning and ordered to make corrections within a time limit; Those who refuse to make corrections within the time limit shall be fined up to 30,000 yuan.

Under the bright lights of Kai Tak Gymnasium, Nicholas Tse reappeared the "Hand in Hand of the Century" which he and Faye Wong performed together in 2000 through holographic projection in his comeback concert after 20 years’ absence. When the melody of "Jade Butterfly" rings and the three-dimensional image reappears, the scene under the stage presents a more striking plot-the subtle distance between Faye Wong and Di Bola, the head of Xie’s family, in the VVIP table constitutes a complex picture of the family relationship of modern giants.

First, the hidden information implied by the seat

In this grand concert, which cost HK$ 280 million, the layout of seats seems to subtly reveal the subtle relationship between the giants. Faye Wong, located in VVIP District, enjoys the services of independent sommelier and customized champagne, while Di Bola, the head of Xie’s family, spends family time with his two grandchildren in the ordinary audience. This obvious spatial isolation is not only an arrangement, but also a metaphor for Xie’s family class: even though Faye Wong is the diva of Chinese music, she is still not fully integrated into the core circle of Xie’s family.

According to sources, this spatial separation is not accidental. In 2024, when Di Bola was hospitalized, Faye Wong visited in the middle of the night and brought a customized nutritious meal, but it was directly handed over to the nursing staff. This seemingly simple behavior silently reflects the long-standing unsolved gap between mother-in-law and daughter-in-law, and subtly echoes the physical distance of 15 meters maintained in the concert, revealing the emotional tension accumulated in the past 25 years.

Second, the confrontation between tradition and modernity

In the Xie family’s value system, Cecilia Cheung always occupies a special position. As an ex-daughter-in-law, Cecilia Cheung not only continued Xie Jia’s incense, but also cultivated her eldest son Lucas, who is proficient in four languages, through her practice of "Xie Jia’s concept of parenting". Di Bola regularly arranges "Grandchildren’s Day" every week. During this time, Cecilia Cheung often stays for half an hour more than Wang Fei. This subtle gap virtually reflects Xie Jia’s persistence and attention to "orthodox blood".

Xie Xian’s inheritance distribution scheme further shows this tendency. The ancestral home of Repulse Bay, worth HK$ 1.5 billion, will be inherited by the eldest grandson, and the jewelry collection will be given to Cecilia Cheung. This careful arrangement seems to have established a clear barrier for Xie Jia to "go to Wang Fei". When Nicholas Tse’s 88 million Hong Kong dollars Mid-Levels Mansion for Faye Wong was restricted by the terms of family trust, the tension between traditional patriarchal clan system and modern emotional entanglements was exposed.

Third, Faye Wong’s self-protection philosophy.

Facing the traditional discipline of Xie family, Faye Wong adopted her "defense law", that is, "three noes"-not participating in family sacrifices, not staying in Xie family property, and not signing a prenuptial agreement. Her independent residence in Beijing Hutong is in sharp contrast with the Repulse Bay Mansion in Nicholas Tse, showing her independence in emotional life. She used this spatial distance to resist the family clan’s devouring of her, showing a subtle resistance to the bondage of the rich and powerful.

In addition, Faye Wong also maintains absolute independence economically, which has become her trump card in the emotional game. The property she invested in 798 Art District in her early years is now valued at more than 2 billion yuan, and it is completely isolated from Nicholas Tse’s "Fengwei" brand, which makes her always take the initiative in marriage and family disputes. Even when Di Bola hinted that "Xie Jia needs a new life", Faye Wong skillfully responded to this challenge by arranging a pilgrimage to Tibet, showing her wisdom and determination.

Fourth, the dialogue between the emotion of giants and postmodernism

The 25-year-old love of "Feng Fei Lian" is just like the cultural change of Hong Kong. From the amazing hand-in-hand in the paparazzi culture in the Millennium to the holographic projection hug in the concert in the Universe, the love course between Nicholas Tse and Faye Wong has always been closely linked with the pulse of the times. In the encore, Nicholas Tse changed the lyrics of Love Because of Love from "not for anything in return" to "not for the ancestral memorial tablet", which can not help but remind people of his gentle resistance to family bondage.

This post-modern emotional model is challenging the traditional concept of marriage and love. Research shows that 30% of Hong Kong’s high-net-worth people tend to adopt a "separated partner" relationship, and 75% of millennials believe that emotional contracts need not be attached to legal relationships. When the figure of Faye Wong pouring red wine on the VIP table was projected on the big screen, it seemed vaguely that the patriarchal clan system that had bound the Hong Kong giants for decades was quietly dissolving under the spotlight of the new era.

With Di Bola’s early exit, this quarter-century-long theory of love evolution ushered in a symbolic ending. The pearl handbag of the old-school lady and Balenciaga combat boots of Faye Wong briefly staggered in the narrow passage, and the values of the two eras passed by at this moment, leaving an eternal proposition about emotional freedom-how much courage does it take to make love not succumb to the tradition of ancestral hall incense?

Xinhua News Agency, Beijing, April 12thTitle: The "National Nine Articles" of the capital market will be upgraded after ten years, and the nine major points deserve attention.

Xinhua News Agency "Xinhua Viewpoint" reporters Liu Hui and Liu Yujia

A few days ago, the State Council issued "Several Opinions on Strengthening Supervision and Preventing Risks to Promote the High-quality Development of the Capital Market", which consists of nine parts. This is the capital market guidance document issued by the State Council again after two "National Nine Articles" in 2004 and 2014, and it is 10 years later. The nine points are worthy of attention.

Aspect 1: High-quality development of the capital market should adhere to the "five musts"

How to deeply grasp the main connotation of high-quality development of capital market and realize stable and healthy development of capital market? The opinion puts forward "five musts":

-We must uphold and strengthen the leadership of the Party …

-We must always practice the concept of finance for the people …

-We must comprehensively strengthen supervision and effectively prevent and resolve risks …

-We must always adhere to the principle of marketization and rule of law …

-We must firmly grasp the theme of high-quality development …

The "five musts", reflecting the goal orientation, is not only the inherent requirement for the high-quality development of the capital market, but also the practical path for the stable and healthy development of the capital market.

In addition, the opinion also clarified the development goals of China’s capital market in the next five years, by 2035 and by the middle of this century, and set a clear road map.

Aspect 2: iterative upgrade of the issuance and listing system

Issuance and listing have always attracted the attention of all parties. According to the new situation of the reform and development of the capital market, the opinions focus on three aspects: further improving the issuance and listing system, strengthening the responsibility of the whole chain of issuance and listing, and strengthening the supervision of issuance and underwriting, so as to strictly control the access of issuance and listing.

In terms of further improving the issuance and listing system, the opinions are clear, such as raising the listing standards of the main board and the Growth Enterprise Market, improving the evaluation standards of science and technology innovation board Science and Technology Innovation, expanding the coverage of on-site inspection, and strictly checking the refinancing. It is foreseeable that the issuance and listing system will be further iteratively upgraded and more refined.

The opinions released the policy signal of further compacting the issuer’s first responsibility and the intermediary’s "gatekeeper" responsibility, strictly investigating illegal issues such as fraudulent issuance, and rectifying market chaos such as high-priced over-raising and holding a group to suppress prices, which will be conducive to the formation of more effective market constraints in the issuance and listing process.

Aspect 3: Formulate guidelines for market value management of listed companies.

Reduction, cash dividends, investment value of listed companies, information disclosure and corporate governance … Opinions The measures for continuous supervision of listed companies are highlighted.

Regarding the fraudulent behaviors that are deeply hated by all parties in the market, the opinions emphasize the construction of a comprehensive punishment and prevention system for anti-counterfeiting and counterfeiting in the capital market, and seriously rectify illegal activities in key areas such as financial fraud and capital occupation. For the reduction, the opinions clearly introduced the management measures for the reduction of listed companies, classified different types of shareholders, and resolutely prevented all kinds of detours. For dividends, the opinions clearly increase the incentives for dividend-paying high-quality companies, and take measures to promote the dividend yield.

How to promote the investment value of listed companies? Market value management is the focus of attention of all parties. The opinions put forward new policy measures and put forward guidelines for the market value management of listed companies. Study on the market value management of listed companies into the internal and external evaluation system of enterprises. At the same time, we will strictly crack down on illegal activities such as market manipulation and insider trading in the name of market value management.

Aspect 4: Improve the investor compensation and relief mechanism in the process of delisting.

Delisting supervision is not only related to the "export barrier" of the capital market, but also related to the vital interests of relevant investors. Opinions on the policy measures for delisting, while continuing to work hard to smooth the "export customs", it also pays more attention to the legitimate rights and interests of relevant investors.

In terms of unblocking the "export barrier", the opinions further tighten the mandatory delisting standards, further unblock multiple delisting channels and further reduce the value of "shell" resources. Among them, it is worthy of attention to establish and improve the differentiated delisting standard system of different sectors and scientifically set the applicable scope of major illegal delisting.

At the same time, the opinions clearly improve the investor compensation and relief mechanism in the process of delisting, and the controlling shareholders, actual controllers, directors and senior executives who are responsible for major illegal delisting should compensate investors for their losses according to law.

Aspect 5: Improve the compensation management system of the securities fund industry.

To strengthen the supervision of securities fund institutions, it is necessary to promote the industry to return to its original source and become better and stronger. Clear opinions, strengthen the management of industry institutional shareholders and business access; Promote industry institutions to strengthen the construction of investment banking capabilities and wealth management capabilities; Support the head office to enhance its core competitiveness through mergers and acquisitions and organizational innovation.

In addition, the opinions are also clear, and the compensation management system of the securities fund industry should be improved in line with business performance, business nature, contribution level, compliance and risk control, and social culture.

Aspect 6: Strengthen the construction of strategic power reserve and stability mechanism.

"Strengthening transaction supervision and enhancing the internal stability of the capital market" is one of the focuses of attention of all parties after the introduction of this opinion, and relevant policy measures have revealed a lot of information. For example, the new formulation of "strengthening strategic power reserve and stability mechanism construction" is remarkable. For another example, "exploring the futures supervision system and business model adapted to the development stage of China" and "doing a good job in cross-market and cross-industry cross-border risk monitoring and response" mean that supervision will further exert its strength in promoting the stable operation of the market.

Regarding the transaction supervision that the market pays attention to, the opinions released a clear policy signal: introducing procedural transaction supervision regulations and strengthening the supervision of high-frequency quantitative transactions; Formulate operating rules for private equity funds; Improve the measures to deal with extreme situations; Seriously investigate and deal with illegal acts such as manipulating the market and maliciously shorting …

It is particularly noteworthy that the opinions have also brought a new breakthrough in the expected management mechanism, and it is clear that the impact assessment of major economic or non-economic policies on the capital market will be included in the macro-policy orientation consistency assessment framework, and a coordination mechanism for the release of major policy information will be established.

Aspect 7: Optimize the policy environment of insurance fund equity investment.

Continued expansion of long-term investment power is inseparable from vigorously promoting medium and long-term funds to enter the market. The opinions put forward many pragmatic measures to promote medium and long-term funds to enter the market.

In terms of establishing a market ecology that fosters long-term investment, the opinion proposes to improve the basic system that adapts to long-term investment and build a policy system that supports "long-term investment". Vigorously develop equity Public Offering of Fund, and substantially increase the proportion of equity funds.

The opinions clarify the policy environment for optimizing the equity investment of insurance funds, implement and improve the performance evaluation methods of state-owned insurance companies, and better encourage long-term equity investment. Improve the supervision system of insurance fund equity investment and optimize the information disclosure requirements of listed insurance companies. Improve the investment policies of the national social security fund and the basic old-age insurance fund. Encourage bank wealth management and trust funds to actively participate in the capital market.

Aspect 8: Promote the development of new quality productive forces

In the opinion, the policy measures on "further deepening reform and opening up in an all-round way and better serving high-quality development" propose to enhance the competitiveness of the capital market system, enhance the inclusiveness of new industries, new formats and new technologies, and better serve the implementation of national strategies such as scientific and technological innovation, green development, state-owned assets and state-owned enterprise reform, the development and growth of small and medium-sized enterprises and private enterprises, and promote the development of new quality productivity. This marks the key point of the further reform of the registration system.

In addition, the relevant policy measures also emphasize increasing the support of stock and debt financing for enterprises that meet the national industrial policy orientation and break through key core technologies; Promote the high-quality development of the bond and real estate investment trust fund (REITs) market; Broaden the financing channels for overseas listing of enterprises and improve the quality and efficiency of overseas listing filing management.

Aspect 9: The rule of law in the capital market is expected to accelerate.

In recent years, the high-quality development of the capital market is inseparable from the deepening consensus of all parties. In this opinion, there is a special "promoting the formation of a joint force to promote the high-quality development of the capital market". Among them, there are many works on the construction of the rule of law and the joint crackdown on securities and futures crimes.

In the construction of the rule of law, a series of laws and regulations expected by the market will gradually land. Clear opinions and promote the revision of the securities investment fund law. Introduce regulations on supervision and management of listed companies, revise regulations on supervision and management of securities companies, speed up the formulation of regulations on corporate bonds, and study and formulate regulations on management of real estate investment trusts. The opinions are also clear, promoting the judicial interpretation of the crime of breach of trust to harm the interests of listed companies, insider trading and market manipulation and other civil compensation.

In addition, in the formation of capital market synergy, all parties have been concerned about how to improve the fiscal and taxation system conducive to the formation of innovative capital and the active market. The opinions were responded in the related measures of "deepening the coordination and linkage between central and inter-ministries": implementing and improving the tax policies of listed companies’ equity incentives, medium and long-term funds, private equity venture capital funds, real estate investment trust funds and so on.