Vice Chairman of the rape trial, said all the girls were virgins voluntary --- more than 20 girls were raped to death ---
claiming to be an interview with Wu Tianxi physical hard, one of the twists and turns and difficulties beyond imagination. After several efforts, press row interviewed by a special way to Wu Tianxi. Wu Tianxi very alert encounter can not be said, do not want to say to hard roundabout. Wu Tianxi said his wife and his family I'm sorry, I'm sorry they did not mention the girls suffer. In his description, he is a victim. (some people use a pseudonym)
Reporter: public security agencies in the investigation shows that in the process of being against you, many of the victims on the spot resistance, but you beat them.
Wu Tianxi: it would be no issue , all are obedient, are voluntary, some are not voluntary, I send back, and must not (a) compulsory language and behavior.
Reporter: Many little girls under 14 years old, you do not judge out of you?
Wu Tianxi: Judgement does not come out. I ask for more than 14 years of age, there must have the consent of others, I tend to verify the age.
Q: how do you verify?
Wu Tianxi: The watch to see growth Zeyang. a girl looks thin, I asked her half-way three times, she said she was seventeen, and that is 16 years old, and finally said that less than 14 years old, I think she not developed mature called her away.
Reporter: Many are high school students, which you know, right?
Wu Tianxi: Introduction of a lot of people do not know the students, I really do not know, after the court's decision, and now I know was. Anyway, I get money, not much thought, and are late coming, early away, we also take into account the face.
Reporter: Why do you find a virgin?
Wu Tianxi: not required have to be a virgin, I have truthfully to the public security authorities, prosecutors have said this, I am not a man to me about Pei-woman, there are several other.
Reporter: Some people say you find a virgin is to adopt negative complement Yang?
Wu Tianxi: I think they are rumors, I do not know how to Shajiao mining yin yang. Love is not sex, forced me to solve the problem of hunger and thirst.
Reporter: In the town square more than one people like you girl?
Wu Tianxi: Zhongshan Street, the western part of the town square there is a recreational house, the boss called the Little Lu (a pseudonym), she often introduced to me. also a man named Mary (a pseudonym), she is the town of Jinping County Jujube the town village, she lived in the town square, is the homeless community. There is also a Xiaolan (a pseudonym) to work in the salon, she often introduced to me.
Reporter: how do you view LIU Pei et al?
Wu Tianxi: black sheep, really a group of black sheep, now I know, they take some coercive means, not only harm the students, parents harm, but harm me.
Reporter: your own right?
Wu Tianxi: they put me down to the water, from my wife sick, I can be considered a gap in the eggs, the eggs do not hover flies, then I feel just pandering, I did not expect so serious.
text, graph / reporter Liaojie Hua, Li Ying
County, Vice Chairman of the rape, claiming more than 20 middle school girls photo shows Wu Tianxi
physiological needs.
Wu Tianxi have not believed in his name and the .2008 January, he was Nanyang City Intermediate People's Court sentenced to death in the news spread like wildfire in the Dang Di, because he did former Vice Chairman of the County of Henan Province town, the famous farmer entrepreneurs. be sentenced to death for him, he led seven counts of rape mm, organization and leadership of the crime syndicate, the crime of forced transactions, illegal fund-raising crime, disturb the crime other.
Wu Tianxi impact statements in the prosecutor of crimes, the most shocking is that from the spring of 2005, Wu Tianxi instructed a young woman named Pei-town County looking for him in the Virgin. After nearly two years , Wu Tianxi has more than 20 female junior high school students to reach out a black hand. This is why people say that Wu Tianxi was Song Jia-kilometer town, the local known as events, town square and fear in a town shrouded.
despite the requirement that all the girls parents must pick students to and from school, but the town square county towns for security reasons, the third junior high school, still arranged three teachers at the school entrance on duty. one day at noon, ate lunch at home, Mary (a pseudonym) as usual, a person to walk to school.
12 点 40, Mary is about to come to school on time, two young women stopped her and forced her way or another a taxi to the town, County of Henan star hotel to open to. in the hotel's 206 rooms, two young women, first to enlighten Mary, and then blasted threat to her, asked Mary agreed with one called people do not pay attention while thrown into the downstairs for help.
2 pm, Mary's mother went to school, said the child was kidnapped on the way to school, trapped in Henan Star Hotel 206 rooms, Mary's father rushed directly hotel. the school principal, a deputy brigade to the town of County Public Security Bureau of Interpol for help who knew the person in charge, the responsible person immediately rushed squadron assigned to Interpol Battalion Henan Star City Hotel. 16:00 more than 206 police officers have access to hotel room, only to see a person in the room where Mary, the implementation of the kidnappers had already left. On this day, the third junior high school in addition to the two girls narrowly escaped abduction, a forced break and flee, while the other is another lax escaped custody.
police conducted a detailed investigation of Mary, found that continuous occurrence of cases of missing girl County town, and one called , sent to the designated place for the Yin Yue, has been victimized more than girls.
soon to be rescued in a few days after Mary, April 17, 2007, a message in the town of County Bujing while walking: rapist NPC Vice Chairman of the town of Jinping County, Town, County Group Co., Ltd. Jia Song, general manager of the food series, once the No people do not know Wu Tianxi, a merchant, said in this business, Xin market, the footwear market, the Food City, and other wholesale and retail markets, which build up most of Wu Tianxi. In addition, Song Jia Wu Tianxi Zhenping Muslim or frozen plants, Song Jia Zhenping food series (Group) Co., Ltd. Two enterprise's legal representative.
According to the enterprise, employees 1,380 people, mainly Muslim frozen plants, tanneries, feed factory 6 processing plants, cattle fattening, aquaculture, chicken farms, duck, etc. 5.
known family history of the person issued Wu Tianxi the 20th century, 60 years, junior high school graduation Wu Tianxi dray pulled by hand to mouth, then I do not know where did you get the money from the township in Jia Song, a refrigeration plant, refrigeration plant with expanding In 1991 October, he Song Jia also founded the town of Food Series (Group) Co., Ltd., has become the star of the local farmers entrepreneurs. the local people, said Wu Tianxi the most prosperous time, the provincial leaders to visit the town square, Wu Tianxi is a must to see. < br> 20 century and 90 years, Wu Tianxi was elected Vice Chairman of the County town. then gradually increased their body halo In 1998, elected to the Ninth National People's Congress Wu Tianxi In 2002, Wu Tianxi third of township enterprises in Henan Province was selected outstanding (managers, chairman of the board).
Wu Tianxi cause fire, but did not last too long In 1998, the state bank consolidation, before tens of millions of yuan to obtain low-interest of banks, interest-free loan Wu Tianxi, funds strand breaks. It is a long-term freezing factory in Wu Tianxi Song Jia described the town residents, Since 1998, Wu Tianxi the factory began to decline, benefit big slide, on April, the town of Jinping County, ~ 6, Wu Tianxi cases in Nanyang City Intermediate People's court, where the trial was 3 days, given the large number of minors involved in the case, court cases have been heard in public. on the state of Wu Tianxi was trial, the parties concerned it is careful not to disclose to the outside world. However, journalists through various links, or get some details of Wu Tianxi cases.
court survey, initially identified as Wu Tianxi against the object is a young woman named LIU Pei, the spring of 2005, She was hired the first girl Li Wu Tianxi flowers (a pseudonym), Li took the original county towns is the second junior high school student, her parents divorced when she was up to two days to drop out. Lee spent his first by Wu Tianxi sexual assault, after she became victimizers, taking girls to find and Wu.
statement to the police, according to LIU Pei, Wu Tianxi There are 4 conditions to find the girl, a younger, 14 years old 18 years old; Second, we must look beautiful; third, quiet obedient; four if the Virgin.
LIU Pei County in the town of the county opened a beauty salon, men have just left school near several girls, young girls in her use of frequently in the town square to find the county's seven secondary schools against the target.
each girl to find a qualified, several women came forward to force pulled the first guesthouse to do voluntary Wu do not want to be kicked out of a bath, the results have been beaten Pei-meal.
abducted girl, and some sent by the Pei-Wu Tianxi Department, some by Wu'll pick. Wu Tianxi Office of the freezer plant equipped with special bedroom, rape sites, mostly in here. When Miss robbery rape girls, the Pei-such as referrals to the side, one is disobedient when the girl came up to each to find a virgin, Miss pay 2,000 yuan to the introducer, rather than virgin Wu generally pay about 500 yuan.
from spring 2005 to April 2007, the town has a seven County more than 20 middle school girls by Wu Tianxi rape, in which several girls were under 14 years of age against Shihai.
toting seven charges, claiming to be it? local popular argument is that Nianyuhuajia the yin yang Wu Tianxi believe that the art of mining, you can live longer, but also can continue to cement, fine. by Virgin, the number is 100. But for this argument, the town square county towns that the second vice president of a junior high school, Wu Tianxi communication process in civil cases, adding too much imagination.
2008 年 1 月 27 日, the reporter from the Nanyang City Intermediate People's Court heard that Wu Tianxi not always admit to committing rape, he said, did so because 14-year-old girl, he will not, so he asked for him to find those who are looking for virgin girls over the age of 14 years to 18 years of age. The plan also shows that Wu Tianxi the event, the thought occurred with the girl under the age of 14 sexual relations constitute the crime of rape.
but after the incident, police found some of the girls age and under 14 years and why? Wu Tianxi argued that he did not know some girls at the age of 14, which are affected by those He deceived the people looking for a virgin, who net more often and get to some of his money. It is said that Wu Tianxi sexual relationship with a girl, we found that it has no pubic hair, so he did not want too small.
About Wu Tianxi allegations of rape, Wu defender as he argued that the crime of rape is a violation of the will of women, but sexual relations with girls Wu did not implement forced to act. because the girl who suffered from the beginning to find those Wu Tianxi virgin who had planned to force sexual relations with Wu Fasheng, including some girls were forced one way or another car, and then to the hotel, and then with Wu Fasheng sex. which, when the girls have relations with Wu, Wu's side will be two standing individuals, such as the behavior of girls against their maltreatment by threatening way to help the girls obediently listen to the mercy of Wu Tianxi hh Wu Tianxi excuse but a large number of facts in the pale.
2008 年 1 month, Wu Tianxi was found guilty of rape, organization and leadership of the crime syndicate, the crime of forced transactions, illegal fund-raising crime, disturb the crime of 7 counts, graft, by the court of first instance sentenced to death, deprived of political rights for life and fined 500,000 yuan. co-accused Liu Pei et al, were sentenced to 20 years to 6 months.
former Vice Chairman of CPPCC Henan County town of more than 20 girls were raped to death
hearing this news yesterday from the Nanyang reported the relevant department, 6 found guilty of rape and other charges, former Vice Chairman of CPPCC Wu Tianxi County town of the first trial was recently Nanyang City Intermediate People's Court sentenced to death and fined 50 million.
is a 61-year-old Wu Tianxi County town of CPPCC, former deputy President, Song Jia Zhenping Food Group Co., Ltd. General Manager Series, the famous farmer entrepreneurs, the Pei-young woman looking for a virgin for him, after two years, Wu Tianxi has more than 20 female junior high school students to reach out a black hand .2007 April 17, Wu Tianxi criminal detention by the police.
court found, in addition to rape, the Wu Tianxi also committed leadership, participation in the crime syndicate, the crime of forced trading, the crime of illegal fund-raising and other five drugs. graft, Wu Tianxi Court of First Instance has recently been sentenced to death, deprived of political rights for life and fined 50 million. LIU Pei, who co-defendants were sentenced to imprisonment for 20 years or 6 months. (Xinhua be there)
rapist released from prison after home birth women
girl rape Father was .
the face of his father's brutality, in every possible way against the 14-year-old girl, ran to neighbors for help with bare feet, only escaped unharmed. Recently, Wuwei County Court of First Instance for rape (attempted), square of child molestation was sentenced to a term nine years in prison.
Yao Fang Town of Wuwei County in a department who, in 1999, found guilty of rape and was sentenced, released from prison in January 2003. release of the side of a pornographic nature is still not changed, Which men do not often see at home, Which hit the door, molesting, insulting women. One day in April of this year, out of a drinking party came back to see their under 14-year-old daughter at home, hath departed underway. daughter scared to climb up side of a furious, playing the daughter of two ears, and her daughter refused to wear shoes and clothes, bare feet wearing a T-shirt, ran to neighbors for help, after his daughter was an escaped unharmed before the village residential neighborhood.
CPPCC Henan town square Deputy arrested for rape of a virgin today
second instance the case today, former Vice Chairman of the County of Henan Province town of Wu Tianxi rape, organization and leadership court of second instance the case of triad gangs.
Wu Tianxi arrested, can be said that County last year, the largest town in Henan The concept. 19 Kusakabe issued > After being sentenced to death in the first instance, Wu Tianxi position to appeal immediately. yesterday, Wu Tianxi the children interviewed, said, against the death penalty for rape.
Zhaoyun Heng Wu Tianxi's lawyer claimed that Wu Tianxi violence, has taken important to not break the law of the Ninth National People's Congress, Vice Chairman County, farmer entrepreneurs know: Since 2005, the Wu Tianxi the inducement and instigation, Pei-Chang Yu gathered, Li Xing (in flagrante delicto under 14 years old), who has repeatedly sneaked into the town of County Line Yang a junior high school, arts and crafts level close to 7 schools and other professionals, to take trick, intimidation, coercion, beatings and other means, will be more than female students hostage to the town of Ping Jia Song Series Group Co., Ltd. frozen foods Factory Wu Tianxi office for Wu Tianxi rape, rape of female students more than 20 people.
learned that the victim age distribution of girls aged 12 to 16 years old. The Wu Tianxi rape girls motivation, one of the more popular local saying is that Nianyuhuajia the yin yang Wu Tianxi believe that the art of mining can live longer, to cement it. have been primed, he began looking for a virgin, the number is 100.
verified by the reporter of this figure, the first instance decision, Wu Tianxi rape of 22 people, including 4 persons underage girls. Pei-Per capita handled separately, with rape, etc., were sentenced to 20 years or 6 months.
court found, in addition to rape, the Wu Tianxi also committed leadership, participation in the crime syndicate, Forced Transaction , the crime of illegal fund-raising charges, etc. 5. graft, Wu Tianxi by the Court of First Instance sentenced to death, deprived of political rights for life.
Wu Tianxi get the death sentence is the first time to appeal. This reporter has learned, Wu Tianxi throughout think they are prostitutes, did not force the circumstances. He writes: Since the Self-wife sick, give me the spirit, causing a heavy ideological pressure, cause me to procrastinate, plus I'm in that (age) is large, do not focus on learning, on the legal concept of blurred consciousness weak, I feel as long as the money anyway, could not break the law, resulting in the disaster. Therefore, I urge the High Court there is no criminal intent in my reading the plot, in the sentencing of my lighter or mitigated punishment. < br> Wu Tianxi children: they are not hopeful, said Wu Tianxi start a business by 2002, the town made a significant contribution to the local level. But after 2002, business failure, his wife seriously ill, Wu Tianxi's mental state has undergone great changes. for the outside world, said Wu Tianxi as Devil, ? know that girls under 14 years of age?
old friends: place. Jia Song entered the town, a letter to the , is a famous small commodity distributing center. But now it wants to come.
Wu Tianxi most famous property is cold, all his plants, including poultry farms, tanneries, woolen mills in his home village mm northbound village. Wu Tianxi caught, he's also been labeled the factory seal. cold floor of Tower 2 is also close to seal a room, here was the scene of the crime. LIU Pei, who often sent directly to the girls here to Wu Tianxi .
large cold storage yard weeds everywhere, a burning car parked in the yard, there is a sculpture erected in which cattle, following the words Wu Tianxi friend found a horse, he was a big cattle here, 70 years old this year. Maradona, said Wu Tianxi people on the street before the accident and the relations are better.
reporters were in the street, a bit blue suit of the villagers, he said, and Wu Tianxi not cooked, but live close to common. In the town square county towns occurred within the third day of the 5 junior from the front of the hotel and arrested the three women, according to their account in the criminal detention, 2007 December 19 Kusakabe issued know that girls under 14 years of age?
Nanyang, Henan Province People's Procuratorate of the indictment in the book, said: female students were raped more than twenty, including several students under 14 years of age. Therefore, the requirements imposed Wu Tianxi rape.
but Wu Tianxi has said that he did not know that some girls under 14 years old. years of age, fear of the formation of rape The following girls; second, looking for pretty girl, do not look ugly; third, looking for obedient, quiet girl; fourth, to find a virgin, a virgin will give a reward of 2,000 yuan, not Virgin gave 500 yuan coercion, to answer the girls reached the required age of 14.
However, there is evidence to show that girls Wu Tianxi that she is not even 14 years old. One in August 21, 2006 murder of the female students said, 13-year-old told Wu Tianxi own
Thursday, December 30, 2010
Wednesday, December 29, 2010
Ghost Blows [supernatural fiction] - Chapter (1)
Wen Chi Chapter moth body double Li Wen Chi Bi
moth body double Li Bi 1
the end of the forest in the valley, came the dull thunder waves, sunny day at noon is noon, the sky, such as washing, no clouds, how suddenly the playing Ray? sank the hearts of everyone are, finally climbed out from the tombs, but what is trouble?
again carefully distinguish by ear, not quite like thunder, the sound is getting closer, what appears to be a huge beast, far from the monastery valley swiftly, heavy footsteps, running together in the body non-stop hit trees, Zhayi Listen seem like endless stretches of thunder, which mingled with several more from the bark.
I heard the dogs barking, and found a small dog in the valley of the three, only five large dog lying on the floor, the other three Giant Mastiff disappeared, just mentally exhausted, did not spare some time to look those dogs, we might have for a long time did not return spontaneously turns to dog hunt, and what giant mastiff beast drive up and running such a big movement?
British child carefully listened for a moment, smiled and said nothing is wild boar in a hurry, we have to look lively bar on the hill, you can wait a whole wild boar meat.
We climbed the hillside a half to have seen the forest trees, Yi Keke been severing the valley of the dogs are also prone to continue, they gave no hair fanned out to block the wild boar in the valley path.
Taniguchi saw a rattle broken pine trees, from behind a tree knocked a big wild boar, wild boar is not only long but for the nose, I almost see it as the first teenagers of the elephant, it is extremely heavy weight on the foot, bristle long black hair, mouth curved upward with fangs on both sides, with two dagger, which is both tusks the male symbol of pride, it also marks the wild boar is the king of the forest, it Biaofei round the body, limbs short, thick, casting its hooves, whirlwind headlong into the valley.
behind the big boar, three leisurely chasing giant mastiff, not pounce snap, not from too far, a three, they all ran into the savage trench.
boar body skin to skin than the rhino, not punishing more so, it is nothing to do in the forest, put on the mast of the body rub in the pines One solution itch, and second, also resin are left on their bodies, not afraid of mosquitoes in the summer, mosquitoes in the deep forests like a large bird, the mountains are saying is: a dish of three mosquitoes. words that are not be an exaggeration, even the old cattle are Jiabu Zhu large mosquito bite of the mountain, except wild pigs are not afraid of mosquitoes, and its skin is a layer of armor, no bite not move it. two huge fangs and their own weight, is the wild boar in the forest The magic in a solo is absolutely offensive and defensive, the mountains are the tiger leopard bear it no one under the mouth.
but hunters of giant mastiff care and training, specifically to deal with wild boars have a unique skill, mastiff dog's body with a small calf Like children, but compared to this big wild boar, or seem small block header, the three giant mastiff is trying to expel the wild boar to resolve it deep in the valley, as in the forest full of trees, trying not open, and Wild boar is simply washed up tanks.
Savage litter the valley deep ditch, not to go half a large wild boar, because too much weight, limbs all fall into the trap of the leaves, the three big mastiff dogs around it around East, West, bite bite, physical strength and your spirit is consumed wild boar, the other five large dogs are wrapped in the external, in which case, they did not dare to intervene and Mastiff power struggle, only to cheer the side to act as messenger, the copies.
big boar angry, anxious, stupid struggling in the forest floor, jumped up all out, even pulled out from the limbs, up to jump up.
giant mastiff, etc. It is this opportunity to jump in the wild boar to the highest point at the same time, three giant mastiff largest bird, and suddenly jumped out of the bore of the shells with the general crashed into a large wild boar, the collision with the intensity and angle just right, the wild boar knocked the past, belly up, fell deep and soft, rotten leaves on the twigs.
opportunistic waiting in the next two large mastiff the other, do not give up the chance to stand up wild boar, rushed to the bitter bite of the big wild boar belly , stomach and anus only Achilles Heel is the wild boar, where it finished one exposed to the enemy, not to mention fierce lion quick Mastiff, less than four seconds, the heart liver and lung of wild boar intestines were all belly dig out.
finished the three of us see the wild boar to slowly come down from the hill, fat, and I see that three giant mastiff, could be so understanding, but also know how to use land-use tactics, could not help but want to go pat on the head gate mastiff to show awards, hippie smile of greeting them over.
mastiff dogs and dogs did not expect them to bypass the two of us, all around the British sub-side, the British child out of meat, feed them, See master pleased the big dogs, please also wagged his tail.
languished in the side of me and the fat man looked at, and I shook his head: cool ass. Seeing people is low, people do not recognize the dog face, fuck that you and not with their general knowledge. shotgun with the two big dogs, go to the hillside where to find the block, put the men and women buried on the child, so they moved on again we find the trouble.
Eiko said: stuttering longer follow the pictures. br> I let the dog dragged the two large sub-arms with a yellow coat wrapped Nigerian children dead in the face of the mountain, prairie, dug a pit, and my shovel engineering lost in the tomb, using pick axes to dig very waste force, dusk, only dug one meter deep, and has been sweating me tired, stomach stop drumming.
I looked at it more than one meter deep pit, I thought this almost, child Well, buried so deep is useless, they are filling the whole body is mercury, do not worry about the worm, rat-bite.
so I put the package in two children taken out of the army coat, and another two pieces of military coat re Gonggongzhengzheng package again, and emissions in the ditch, even worship of the two hands together prayer: care for any of you enjoy, but it is destined to do, and you do not have too much attachment. life will have the final, life need not to forget, hard to care about the worth of all the hits come. died later, when the buried , buried disturbed, it is zombies, nothing if the conditions are limited, there is no coffin to place you, there is no incense to worship you, I went back to after a certain point you burn more paper money, I hope you back to the Western Pure Land of Ultimate Bliss, do not come back to haunt us Our work is also very busy, for you to do only these, the insatiable desire of discontent is not good boy. two hardy Boys & Girls, back looks into the distance, I saw the setting sun like blood, heart filled with emotion.
time has not earlier, the British sub in the distance beckoning me back immediately with his dogs back to our hillside camp , fat man moved a boulder, a large bat flew out of the Zhulian attack on a horse block the ventilation holes tightly, turn the fire roasted wild pork, and swine into the water and the mushroom fungus to cook a pot of soup, rosin Meat mixture toward the face, I can not wait to rush, the next piece of meat with a knife in his mouth.
after dinner, we cook the brick tea drinking British children, to discuss how to go back a bit lost Luggage pack horses, want to return to Kong Kong yingzi really not so easy to move pots and pans tent no law, we kill the animals along the way leather can not carry that loss is too great, the last British children thought of a solution to allow two dogs back to the messengers, who called the organization Tuen yard to dig the Kwantung Army cavalry fort, where so many good things do not move out Why do not all blind and guide dogs are the best they can to Tuen yard who lead the way, we find in this neighborhood on the first safe place to stay, so everyone came together and then moved back enough good things.
By now, they can only so, the fat is not on these things Upper Center, he was again taken out two Bi watch, I called and said: You are not afraid to see it gone, let me save the future. in the whole piece out of it? you see, is not there something wrong? time to look. fat fuss gave me: , eyebrows and taste, vivid, bi curious animals who have some decoration, such animals should not exist in the real, fat, skinny body a bit like a lion, but also did not like the scales of the dragon, and several Only the big claws and a curly tail, in short, this pattern is very strange, maybe not animals, like clouds or waves Microhyla.
bi body pattern process, not as delicate carving on the shape, just a few lines plan outline from, but although rough, they do feel a kind of simple and vivid, sometimes simple is a kind of beauty.
really his mother's strange, I remember just taken out of the tomb of the Guanzhong, the This two-Bi color dark green, but look at the Kwantung Army inside the fortress, it pale yellow color.
at this time is deep yellow color of deep yellow, the color changed within a day several times, how is this thing we do not know, can we say this world a kind of jade color? We know nothing about antiques, it seems that only shift the antiques back to Beijing to find a big gold teeth to the long eye out.
speaking of this action fighting back really did not go well, do not say hard way, first on the wild man of the points on the groove in the tomb is the tomb of General Block, did not expect very little buried inside, the only possible value of money, that is, a pair of Bi , in order to put out nearly three little life, too, is really not enough to rely on mountains over the sea metaphor the hard, clinical deep ice is difficult to shape the repeated risk. If the identification results are not worth, I really find a place to one killed.
it gave me a lesson, the nobility of the tomb do not necessarily have a large number of precious sacrificial lambs, to be more understanding of the historical background of ancient tombs and cultural background, but also antiques appreciation as much as possible to master the knowledge, so that it can be targeted, thieves do not go empty.
fat'd looked confident enough to bet with me that this value of Bi can be at least three or twenty thousand, out David was a good, Nazan not sold to Hong Kong compatriots, and we directly dedicated to the National Palace Museum, the Government's happy with the rewards we two do not play like tens of thousands, in Beijing to give a house divided , so we wear red also take the report over the country to do a speech to the sensational to the time we talk about what a finished, those who hear the tears in the audience of female college students, ran up flowers, and offered a love letter.
I say you do not dream, and also let you participate in hero stories report? not got us fat in the squat earthen bad opinions. But If, as the fat man said, to another three-fifty thousand dollars, then is already a pleasant surprise, we traveling all the selling tapes, one year, at most, to mix a three or four thousand dollars to catch up with the bad business years, excluding the cost of food and drink to stay, basically make any money.
I did not sleep a wink for two days, and satiate the British after the sub-gossip with a few fat, and fell down asleep, anyway, there are sentry dogs, do not worry about wild animal attack, the perception sleep Tianhundian in a dream I returned to the smoke of the battlefield, the ground hands over all my brothers face, every face is very young, they face not only physical, they face the never-ending bloodshed, slowly The fly to the sky, I cried and cried on the floor to grab them, but stop dictating to the hands and feet, also can not move hh
what circumstances did not occur at night, those who do not know all the ground floor of a large jump gone bat, no traces of them around, the shock may be affected by the gunfire, to find a new cave house with her.
just woke up I slept until noon, the British sub-three dogs have been sent back the messengers, the neck of each dog are tied to a small bladder, which is a fat write a note, the above states will allow more people Tuen garden tools with men, the best point of explosives, to savage ocean trench dug down the Kwantung Army.
for lunch some wild boar, with his dogs have moved into the valley re-funded tent near the entrance, to find the lee of large rocks, in the following frame of the tent, where at the junction of forest and grasslands, and other people to Tuen yard, and will We are easy to find.
dog then Eiko wild plants to the woods, I dug some earth and rock buried a stove, burned the water put into the pot, we took some of the flour, the fat hands, including a meal Zhen mushroom dumplings, wild boar meat of children, to celebrate our initial success, this time, though narrowly, but anyway, at least three people not out of any accident, but also somewhat harvest, particularly in the Kwantung Army fort supplies many of the folks living Tuen house of great help, as it is also worth a couple of drinks.
longitudinal dog hunting on such a day, straight after a Shi Yuri, I think I almost turned into the mountains Hunter, the Tuen house people finally came, a total of forty people, both led by the secretary and accounting, as men go Niuxinshan work, this time to almost all women, girls and teenagers in children, Tuen few horses yard, a total of not more than ten, they heard a large number of foreign off, not afraid of horses, mules, donkeys dragged out again, the plus comes with all the family dogs, noisy downtown progress the black air.
everyone immediately wanted to get involved, I said, this way we Bashansheshui have mostly hard, as we first rest day, so keep enough strength to do it again tomorrow, while we can not blind the whole, I have been engineering, I volunteered to give everyone about the task assigned, we make use of operations research, planning, action step by step, do not tell the whole mob-like blind.
noise random noise of the crowd, but also excited, I was having fun, talking about the whispers, my voice is drowned out, no one listened carefully, and finally had to yell for a pass is the secretary to come forward: I say, that is, the organization, then we can pick the little devils off of foreign children, and more ashamed of the great nephew and I maybe has a son that the British girl, ah, they Zhashui, we will go Zezheng. > I am saying it again again, so everyone went to support the pot rack tents, food breaks, and then a discussion with the secretary and accounting, no explosives, like underground fortress dug is not too difficult, there hands from the tomb of General, channels that are very close from the fortress, there are five people, not take half a day, can dig through the collapse of the tomb. But there may be animals fortress, everyone must be prepared in this regard, the animals are living in fear of underground fire ignition to be more. needs to be stressed that enter, who can not act without permission, not inside the arms could get a plan and only materials needed for daily life, such as military coat, Japan, the bulk of shoes, blankets, generators, cables and wires that a class, how many how much we move, then move those of the fortress buried, can not take the dew message, or else we have to make these things public.
secretary boldly that: rest assured, as long as people took these things, that the mouth that are old and tight, because everyone has eaten before the loss, the earthquake that year, many people are picking up baby into the mountains to the bovine heart, and that does not have to Heritage Board the one to give away the whole you, this time may have learned it, the gun did not withstand the forehead of people say, we say that Tsz too quiet, not one to have also come to an outsider, this time we to the muffled fortunes. the youngest of several people who have children by the British led to the mountains to hunt, the other group on the contrary, all the biggest age, they remain in the camp led by the accounting cooking to everyone and I fat with a prime of the take turns to dig the tomb of a general collapse burned by the secretary, the global command.
Tuen house people, brought a large number of tools, shovel pick and shovel, even a few people also brought the hoes do not have access to complete, I brings me to this group of ten people, divided into two sets, glazed tile wave of mining collapse of the mound, dug out another call is responsible for handling the debris, an orderly progress of the works.
then I do not know where the rains from a cloud, Perak and to the sudden lightning, large hail began to come, all very confusing, to escape the hail, all ran to the tent Taniguchi.
back to camp, the number of accounting that, in addition to which team into the mountains outside of hunting , short of three hh
moth body double Li Wen Chi Bi 3
the wild weather that they please, this is too fast, hail, hail and animals killed extraordinary thing is not never been, so everyone up and hail a facie, are all available to use something, ran back cover overhead, confusion among the people running the wrong direction is inevitable.
but I am most worried about is the legendary bubble that even the gods can not get out.
my secretary said: activity location, and then I'll look with a few people. I do not mind so that, quickly asked the accountant to look up nephews, which Sa missing person. Although the emergency, but faster, to go, chilly wind, the clouds blew away to the sky, the mountain wind whistling, howling, blowing leaves in the ditch Savage flying in the sky, the weather suddenly to becomes cool.
accounting inventory of a tent a tent, and finally came up to me and the secretary reported: can Zezheng, we quickly find dog go. chatter knock, change of weather, when everyone ran back Guzhe all, no one pay attention to them.
secretary, said: add to the trouble you, Hu great nephew, you see Zezheng? Or we go and go look? went to people who can not be too much useless, do not find people back, and wandered off a few, it is more trouble, and I used to take four or five legs neatly mountain people go away I lived in the ditch half savage, familiar terrain, you need not worry, wait for it to settle at the camp, the weather was cold, so wife have to boil some ginger drive everyone fend off the cold. > secretary Yipaidatui: dogs are part of the child they brought into the mountains hunting the British, because we need a lot of food and meat, used to supply nearly fifty people eat, which forces hunting, dogs less is not enough.
have to leave camp guard dogs to prevent the wild animals to attack, we only brought three dogs, only one of them just dogs, the rest is housekeeping housekeeping two big yellow dog.
savage north-south ditch, the north is the vast outer Mongolian prairie, our camps are located in the side, the south, connected to the rolling mountains and forests, this time the wind was blowing, whistling call of the wild man coming down groove, we followed the wind, the dog's nose during this time that is too muddled.
I led the search team to find barefoot and shout edge, Savage has come to the southern end of the export channel, where the trees have very dense, and full of white birch and larch, in addition to those of us the sound of people shouting to walk their dogs bark issued, the only whistling of the wind, I felt a bit unusual here, too quiet, and even a bit gloomy, it seems that this piece of wood without any animals and birds, Even the most common forest squirrels are not, people feel very depressed.
three giant mastiff had driven out from a large wild boar here, because this wood is very quiet, we've never played over here hunting, I was a bit hesitant, suddenly cried dogs.
I let go of dogs, which, like jump out the arrow, in fact, everyone followed closely behind a large pine tree to find the three missing women, Braun and Guilan Wang family of two girls are holding the second daughter what to do, see we come quickly to help save people greet us, and they heard you call us, because it is against the wind, their voices we have always did not hear.
Pharaoh second daughter home froth at the mouth, unconscious, I tried it with the fingers of her breath: will be able to wake up a rest back to the camp, how do you come down here, is not hit the beast? in the chat, the topic of women, which is also nothing more than a small group of energetic children grow thief, Which girl looks like black, is chatter enthusiastically and had a clear sky clouds, even the people look up at the sky's have time, it began a big hail, three of them home without the hunter, are farming for the industry, have never been to the mountains, lack of experience, a hurried panic to escape, I do not know how to Liao (run) against the direction , ran down south.
Guilan Wang, adding that the two daughter home two years older than their age, they all call her the second wife, usually in the yard Relations Department Tuen pretty good, when they both follow Second wife Liao, at the beginning, so preoccupied with his head down over his head, did not see the situation around, but the more I was not more Liao, et al hail stopped, look carefully all around the tree, in addition to the three of them even a personal video are not, as the dense tree canopy, blotting out the sun, like snow, like a mountain breeze blowing leaves floating, not to mention more scary, she asked the second wife is not Liao wrong direction, or else quickly Liao right back.
second wife also find it strange that just a black sky suddenly saw some people to the side of the old Liao, almost all men look like did not see was so wrecked all hail halo , and did not think to those people with Liao, Liao in the end, in addition to her two sister, who are not around now, that feels a bit scared.
Suddenly, they found squatting under an old tree the circle of people, enough to have several hundred numbers, all men, Juezhaopigu squatting there, rows and rows and can only see them on the back, these people are a whole something? they heard of the mountain ginseng , co-hand black, fungus, are the most valuable rare medicinal herbs, especially ginseng, there are many names, known as God, grass, ground fine, Tengu, wooden club, something that is long in the mountains, several hundred years of God dog, then into a fine, and can become big fat baby, but also become big girl, if people encounter mountain into the old mountain Need reference, must not be quiet this time that I saw ginseng, and can only say that I see with the companion fell asleep again digging, digging even before the first worship gods, vegetarian bath, living with a red cloth to get the ginseng dug home.
which these people crouched motionless, is not in the dug ginseng ? how so many of ginseng? curiosity, the wanted to have a look, Braun and Guilan timid, stopping her let go, she did not listen, his shot went over the shoulders of the man squatting on the ground: Big Brother, the whole Shane? evaporate out of thin air as if the air in the forest.
Braun said to me: hh was related to the cat, do not know the whole Han's not a hh blink of an eye on the whole. at the halfway point, it is necessary to late autumn, and white birch leaves in the wind bells, How can there be several hundred people squatting on the floor? we were walking and looking, and if so what conditions must be identified as soon as possible, can not let these things threaten everyone.
did not walk a few steps, stumbled and fell for a fat foot of a horse lying, Mamalielie get up, that is the root of the root of his trip, is not touched as the roots, get immediate look, immediately threw: where to look fat fall, the soil is also a small half out of the bones, a leg might be fat on the trip, to come out from the soil of this Tiduan the forearm.
before I sent two people to send Bailing them back, leading the few remaining people with a shotgun before the fork dug soil, a few did not dig the soil to reveal a large number of people in the bone, fat man asked me: Army underground fortress that workers have to Kwantung Army killed and buried in mass graves in which the wood, just Guilan those they see a ghost Sa? cold is getting stronger, digging a few people feel like I played a layer of goose bumps.
moth body double Li Wen Chi Bi 4
a skeleton buried in the soil layers with, we just dug litter under a small place, to have lost count of how many human bones, human bones can be seen clear signs of slaughter, ribs, neck, marks on the skull, clearly visible, many with the body from the skull scattered them, apparently they are being chopped down.
many legends about the black air, gold is probably the most famous late Yuan, the main force of the Mongols that big break Kinbyo famous battle, dozens of million Kinbyo, the bodies piled up a mountain, and Mongolians sweep the battlefield to their bodies carelessly thrown into the ditch Savage is said to have given the whole valley was filled, so far as the ancient battlefield near the Millennium, those payments will Kinbyo The corpse, already decadent of air to the soil.
numerous bones of the dead trees should not be the legacy of that era. Jinyuan black air war in history, the only time in the large-scale campaign here has been to Later, the Kwantung Army stationed in secret, to be heard of other fighting took place.
After much deliberation, and only a possibility, Comrade Lenin once said: requirement is, we should mention this problem within a certain historical context. things would not understand, walk under a tree when fat was a forearm trip, and found a large number of remains buried soil. But how would there be a skeleton arm sticking out from the soil half?
This is a bit Wutu facts, if it was then buried the bodies of the Kwantung Army, on the exposed left arm, then buried the dead here, dug up by wild beasts eat long gone, is it hh it was deliberately extended from the soil stumbled out of the fat bit, so we find them? think it felt a bit scared, I did not dare to think about The depth of, say hello to everyone dug the soil, re-fill back to rush back to camp, to find secretary to discuss countermeasures.
rushed back to camp the other side of the valley, they see a group of British children from the mountains, hunting kick back, though encountered hail, but still only the roe deer hunting, bear to the number of wild deer, adequate and the dogs eat out three or four tons.
a few older women are busy cooking, the rest of the some of the rest, some around the tent to see Pharaoh second daughter at home, I entered the tent, to see her was awake, drank hot ginger, is a secretary and others about her experience in the woods: ? I speak with you, it is such a thing hh hh Oh that guy said you could not believe the old scary hh Liangshan Yi Park is a loud noise in fifth? you're busted it need not, and guess Han guess it? you pick it useful to say directly. a: circle of people, that made him a more than a Mai Tai, Jiu wonder ah, wanted to have a look at is the Editor's Note ah, began digging the argument that they are the old customers, the results from the last couple of look is not, in a a tree kowtow? Han knock you head to the tree ah? it is the tree can not get the Buddha? Anjiu good a film, after which a person's spine, to ask him this is Gansha, and the results you guessed how? Jin you, cut you back to royal dick hh :
moth body double Li Bi 1
the end of the forest in the valley, came the dull thunder waves, sunny day at noon is noon, the sky, such as washing, no clouds, how suddenly the playing Ray? sank the hearts of everyone are, finally climbed out from the tombs, but what is trouble?
again carefully distinguish by ear, not quite like thunder, the sound is getting closer, what appears to be a huge beast, far from the monastery valley swiftly, heavy footsteps, running together in the body non-stop hit trees, Zhayi Listen seem like endless stretches of thunder, which mingled with several more from the bark.
I heard the dogs barking, and found a small dog in the valley of the three, only five large dog lying on the floor, the other three Giant Mastiff disappeared, just mentally exhausted, did not spare some time to look those dogs, we might have for a long time did not return spontaneously turns to dog hunt, and what giant mastiff beast drive up and running such a big movement?
British child carefully listened for a moment, smiled and said nothing is wild boar in a hurry, we have to look lively bar on the hill, you can wait a whole wild boar meat.
We climbed the hillside a half to have seen the forest trees, Yi Keke been severing the valley of the dogs are also prone to continue, they gave no hair fanned out to block the wild boar in the valley path.
Taniguchi saw a rattle broken pine trees, from behind a tree knocked a big wild boar, wild boar is not only long but for the nose, I almost see it as the first teenagers of the elephant, it is extremely heavy weight on the foot, bristle long black hair, mouth curved upward with fangs on both sides, with two dagger, which is both tusks the male symbol of pride, it also marks the wild boar is the king of the forest, it Biaofei round the body, limbs short, thick, casting its hooves, whirlwind headlong into the valley.
behind the big boar, three leisurely chasing giant mastiff, not pounce snap, not from too far, a three, they all ran into the savage trench.
boar body skin to skin than the rhino, not punishing more so, it is nothing to do in the forest, put on the mast of the body rub in the pines One solution itch, and second, also resin are left on their bodies, not afraid of mosquitoes in the summer, mosquitoes in the deep forests like a large bird, the mountains are saying is: a dish of three mosquitoes. words that are not be an exaggeration, even the old cattle are Jiabu Zhu large mosquito bite of the mountain, except wild pigs are not afraid of mosquitoes, and its skin is a layer of armor, no bite not move it. two huge fangs and their own weight, is the wild boar in the forest The magic in a solo is absolutely offensive and defensive, the mountains are the tiger leopard bear it no one under the mouth.
but hunters of giant mastiff care and training, specifically to deal with wild boars have a unique skill, mastiff dog's body with a small calf Like children, but compared to this big wild boar, or seem small block header, the three giant mastiff is trying to expel the wild boar to resolve it deep in the valley, as in the forest full of trees, trying not open, and Wild boar is simply washed up tanks.
Savage litter the valley deep ditch, not to go half a large wild boar, because too much weight, limbs all fall into the trap of the leaves, the three big mastiff dogs around it around East, West, bite bite, physical strength and your spirit is consumed wild boar, the other five large dogs are wrapped in the external, in which case, they did not dare to intervene and Mastiff power struggle, only to cheer the side to act as messenger, the copies.
big boar angry, anxious, stupid struggling in the forest floor, jumped up all out, even pulled out from the limbs, up to jump up.
giant mastiff, etc. It is this opportunity to jump in the wild boar to the highest point at the same time, three giant mastiff largest bird, and suddenly jumped out of the bore of the shells with the general crashed into a large wild boar, the collision with the intensity and angle just right, the wild boar knocked the past, belly up, fell deep and soft, rotten leaves on the twigs.
opportunistic waiting in the next two large mastiff the other, do not give up the chance to stand up wild boar, rushed to the bitter bite of the big wild boar belly , stomach and anus only Achilles Heel is the wild boar, where it finished one exposed to the enemy, not to mention fierce lion quick Mastiff, less than four seconds, the heart liver and lung of wild boar intestines were all belly dig out.
finished the three of us see the wild boar to slowly come down from the hill, fat, and I see that three giant mastiff, could be so understanding, but also know how to use land-use tactics, could not help but want to go pat on the head gate mastiff to show awards, hippie smile of greeting them over.
mastiff dogs and dogs did not expect them to bypass the two of us, all around the British sub-side, the British child out of meat, feed them, See master pleased the big dogs, please also wagged his tail.
languished in the side of me and the fat man looked at, and I shook his head: cool ass. Seeing people is low, people do not recognize the dog face, fuck that you and not with their general knowledge. shotgun with the two big dogs, go to the hillside where to find the block, put the men and women buried on the child, so they moved on again we find the trouble.
Eiko said: stuttering longer follow the pictures. br> I let the dog dragged the two large sub-arms with a yellow coat wrapped Nigerian children dead in the face of the mountain, prairie, dug a pit, and my shovel engineering lost in the tomb, using pick axes to dig very waste force, dusk, only dug one meter deep, and has been sweating me tired, stomach stop drumming.
I looked at it more than one meter deep pit, I thought this almost, child Well, buried so deep is useless, they are filling the whole body is mercury, do not worry about the worm, rat-bite.
so I put the package in two children taken out of the army coat, and another two pieces of military coat re Gonggongzhengzheng package again, and emissions in the ditch, even worship of the two hands together prayer: care for any of you enjoy, but it is destined to do, and you do not have too much attachment. life will have the final, life need not to forget, hard to care about the worth of all the hits come. died later, when the buried , buried disturbed, it is zombies, nothing if the conditions are limited, there is no coffin to place you, there is no incense to worship you, I went back to after a certain point you burn more paper money, I hope you back to the Western Pure Land of Ultimate Bliss, do not come back to haunt us Our work is also very busy, for you to do only these, the insatiable desire of discontent is not good boy. two hardy Boys & Girls, back looks into the distance, I saw the setting sun like blood, heart filled with emotion.
time has not earlier, the British sub in the distance beckoning me back immediately with his dogs back to our hillside camp , fat man moved a boulder, a large bat flew out of the Zhulian attack on a horse block the ventilation holes tightly, turn the fire roasted wild pork, and swine into the water and the mushroom fungus to cook a pot of soup, rosin Meat mixture toward the face, I can not wait to rush, the next piece of meat with a knife in his mouth.
after dinner, we cook the brick tea drinking British children, to discuss how to go back a bit lost Luggage pack horses, want to return to Kong Kong yingzi really not so easy to move pots and pans tent no law, we kill the animals along the way leather can not carry that loss is too great, the last British children thought of a solution to allow two dogs back to the messengers, who called the organization Tuen yard to dig the Kwantung Army cavalry fort, where so many good things do not move out Why do not all blind and guide dogs are the best they can to Tuen yard who lead the way, we find in this neighborhood on the first safe place to stay, so everyone came together and then moved back enough good things.
By now, they can only so, the fat is not on these things Upper Center, he was again taken out two Bi watch, I called and said: You are not afraid to see it gone, let me save the future. in the whole piece out of it? you see, is not there something wrong? time to look. fat fuss gave me: , eyebrows and taste, vivid, bi curious animals who have some decoration, such animals should not exist in the real, fat, skinny body a bit like a lion, but also did not like the scales of the dragon, and several Only the big claws and a curly tail, in short, this pattern is very strange, maybe not animals, like clouds or waves Microhyla.
bi body pattern process, not as delicate carving on the shape, just a few lines plan outline from, but although rough, they do feel a kind of simple and vivid, sometimes simple is a kind of beauty.
really his mother's strange, I remember just taken out of the tomb of the Guanzhong, the This two-Bi color dark green, but look at the Kwantung Army inside the fortress, it pale yellow color.
at this time is deep yellow color of deep yellow, the color changed within a day several times, how is this thing we do not know, can we say this world a kind of jade color? We know nothing about antiques, it seems that only shift the antiques back to Beijing to find a big gold teeth to the long eye out.
speaking of this action fighting back really did not go well, do not say hard way, first on the wild man of the points on the groove in the tomb is the tomb of General Block, did not expect very little buried inside, the only possible value of money, that is, a pair of Bi , in order to put out nearly three little life, too, is really not enough to rely on mountains over the sea metaphor the hard, clinical deep ice is difficult to shape the repeated risk. If the identification results are not worth, I really find a place to one killed.
it gave me a lesson, the nobility of the tomb do not necessarily have a large number of precious sacrificial lambs, to be more understanding of the historical background of ancient tombs and cultural background, but also antiques appreciation as much as possible to master the knowledge, so that it can be targeted, thieves do not go empty.
fat'd looked confident enough to bet with me that this value of Bi can be at least three or twenty thousand, out David was a good, Nazan not sold to Hong Kong compatriots, and we directly dedicated to the National Palace Museum, the Government's happy with the rewards we two do not play like tens of thousands, in Beijing to give a house divided , so we wear red also take the report over the country to do a speech to the sensational to the time we talk about what a finished, those who hear the tears in the audience of female college students, ran up flowers, and offered a love letter.
I say you do not dream, and also let you participate in hero stories report? not got us fat in the squat earthen bad opinions. But If, as the fat man said, to another three-fifty thousand dollars, then is already a pleasant surprise, we traveling all the selling tapes, one year, at most, to mix a three or four thousand dollars to catch up with the bad business years, excluding the cost of food and drink to stay, basically make any money.
I did not sleep a wink for two days, and satiate the British after the sub-gossip with a few fat, and fell down asleep, anyway, there are sentry dogs, do not worry about wild animal attack, the perception sleep Tianhundian in a dream I returned to the smoke of the battlefield, the ground hands over all my brothers face, every face is very young, they face not only physical, they face the never-ending bloodshed, slowly The fly to the sky, I cried and cried on the floor to grab them, but stop dictating to the hands and feet, also can not move hh
what circumstances did not occur at night, those who do not know all the ground floor of a large jump gone bat, no traces of them around, the shock may be affected by the gunfire, to find a new cave house with her.
just woke up I slept until noon, the British sub-three dogs have been sent back the messengers, the neck of each dog are tied to a small bladder, which is a fat write a note, the above states will allow more people Tuen garden tools with men, the best point of explosives, to savage ocean trench dug down the Kwantung Army.
for lunch some wild boar, with his dogs have moved into the valley re-funded tent near the entrance, to find the lee of large rocks, in the following frame of the tent, where at the junction of forest and grasslands, and other people to Tuen yard, and will We are easy to find.
dog then Eiko wild plants to the woods, I dug some earth and rock buried a stove, burned the water put into the pot, we took some of the flour, the fat hands, including a meal Zhen mushroom dumplings, wild boar meat of children, to celebrate our initial success, this time, though narrowly, but anyway, at least three people not out of any accident, but also somewhat harvest, particularly in the Kwantung Army fort supplies many of the folks living Tuen house of great help, as it is also worth a couple of drinks.
longitudinal dog hunting on such a day, straight after a Shi Yuri, I think I almost turned into the mountains Hunter, the Tuen house people finally came, a total of forty people, both led by the secretary and accounting, as men go Niuxinshan work, this time to almost all women, girls and teenagers in children, Tuen few horses yard, a total of not more than ten, they heard a large number of foreign off, not afraid of horses, mules, donkeys dragged out again, the plus comes with all the family dogs, noisy downtown progress the black air.
everyone immediately wanted to get involved, I said, this way we Bashansheshui have mostly hard, as we first rest day, so keep enough strength to do it again tomorrow, while we can not blind the whole, I have been engineering, I volunteered to give everyone about the task assigned, we make use of operations research, planning, action step by step, do not tell the whole mob-like blind.
noise random noise of the crowd, but also excited, I was having fun, talking about the whispers, my voice is drowned out, no one listened carefully, and finally had to yell for a pass is the secretary to come forward: I say, that is, the organization, then we can pick the little devils off of foreign children, and more ashamed of the great nephew and I maybe has a son that the British girl, ah, they Zhashui, we will go Zezheng. > I am saying it again again, so everyone went to support the pot rack tents, food breaks, and then a discussion with the secretary and accounting, no explosives, like underground fortress dug is not too difficult, there hands from the tomb of General, channels that are very close from the fortress, there are five people, not take half a day, can dig through the collapse of the tomb. But there may be animals fortress, everyone must be prepared in this regard, the animals are living in fear of underground fire ignition to be more. needs to be stressed that enter, who can not act without permission, not inside the arms could get a plan and only materials needed for daily life, such as military coat, Japan, the bulk of shoes, blankets, generators, cables and wires that a class, how many how much we move, then move those of the fortress buried, can not take the dew message, or else we have to make these things public.
secretary boldly that: rest assured, as long as people took these things, that the mouth that are old and tight, because everyone has eaten before the loss, the earthquake that year, many people are picking up baby into the mountains to the bovine heart, and that does not have to Heritage Board the one to give away the whole you, this time may have learned it, the gun did not withstand the forehead of people say, we say that Tsz too quiet, not one to have also come to an outsider, this time we to the muffled fortunes. the youngest of several people who have children by the British led to the mountains to hunt, the other group on the contrary, all the biggest age, they remain in the camp led by the accounting cooking to everyone and I fat with a prime of the take turns to dig the tomb of a general collapse burned by the secretary, the global command.
Tuen house people, brought a large number of tools, shovel pick and shovel, even a few people also brought the hoes do not have access to complete, I brings me to this group of ten people, divided into two sets, glazed tile wave of mining collapse of the mound, dug out another call is responsible for handling the debris, an orderly progress of the works.
then I do not know where the rains from a cloud, Perak and to the sudden lightning, large hail began to come, all very confusing, to escape the hail, all ran to the tent Taniguchi.
back to camp, the number of accounting that, in addition to which team into the mountains outside of hunting , short of three hh
moth body double Li Wen Chi Bi 3
the wild weather that they please, this is too fast, hail, hail and animals killed extraordinary thing is not never been, so everyone up and hail a facie, are all available to use something, ran back cover overhead, confusion among the people running the wrong direction is inevitable.
but I am most worried about is the legendary bubble that even the gods can not get out.
my secretary said: activity location, and then I'll look with a few people. I do not mind so that, quickly asked the accountant to look up nephews, which Sa missing person. Although the emergency, but faster, to go, chilly wind, the clouds blew away to the sky, the mountain wind whistling, howling, blowing leaves in the ditch Savage flying in the sky, the weather suddenly to becomes cool.
accounting inventory of a tent a tent, and finally came up to me and the secretary reported: can Zezheng, we quickly find dog go. chatter knock, change of weather, when everyone ran back Guzhe all, no one pay attention to them.
secretary, said: add to the trouble you, Hu great nephew, you see Zezheng? Or we go and go look? went to people who can not be too much useless, do not find people back, and wandered off a few, it is more trouble, and I used to take four or five legs neatly mountain people go away I lived in the ditch half savage, familiar terrain, you need not worry, wait for it to settle at the camp, the weather was cold, so wife have to boil some ginger drive everyone fend off the cold. > secretary Yipaidatui: dogs are part of the child they brought into the mountains hunting the British, because we need a lot of food and meat, used to supply nearly fifty people eat, which forces hunting, dogs less is not enough.
have to leave camp guard dogs to prevent the wild animals to attack, we only brought three dogs, only one of them just dogs, the rest is housekeeping housekeeping two big yellow dog.
savage north-south ditch, the north is the vast outer Mongolian prairie, our camps are located in the side, the south, connected to the rolling mountains and forests, this time the wind was blowing, whistling call of the wild man coming down groove, we followed the wind, the dog's nose during this time that is too muddled.
I led the search team to find barefoot and shout edge, Savage has come to the southern end of the export channel, where the trees have very dense, and full of white birch and larch, in addition to those of us the sound of people shouting to walk their dogs bark issued, the only whistling of the wind, I felt a bit unusual here, too quiet, and even a bit gloomy, it seems that this piece of wood without any animals and birds, Even the most common forest squirrels are not, people feel very depressed.
three giant mastiff had driven out from a large wild boar here, because this wood is very quiet, we've never played over here hunting, I was a bit hesitant, suddenly cried dogs.
I let go of dogs, which, like jump out the arrow, in fact, everyone followed closely behind a large pine tree to find the three missing women, Braun and Guilan Wang family of two girls are holding the second daughter what to do, see we come quickly to help save people greet us, and they heard you call us, because it is against the wind, their voices we have always did not hear.
Pharaoh second daughter home froth at the mouth, unconscious, I tried it with the fingers of her breath: will be able to wake up a rest back to the camp, how do you come down here, is not hit the beast? in the chat, the topic of women, which is also nothing more than a small group of energetic children grow thief, Which girl looks like black, is chatter enthusiastically and had a clear sky clouds, even the people look up at the sky's have time, it began a big hail, three of them home without the hunter, are farming for the industry, have never been to the mountains, lack of experience, a hurried panic to escape, I do not know how to Liao (run) against the direction , ran down south.
Guilan Wang, adding that the two daughter home two years older than their age, they all call her the second wife, usually in the yard Relations Department Tuen pretty good, when they both follow Second wife Liao, at the beginning, so preoccupied with his head down over his head, did not see the situation around, but the more I was not more Liao, et al hail stopped, look carefully all around the tree, in addition to the three of them even a personal video are not, as the dense tree canopy, blotting out the sun, like snow, like a mountain breeze blowing leaves floating, not to mention more scary, she asked the second wife is not Liao wrong direction, or else quickly Liao right back.
second wife also find it strange that just a black sky suddenly saw some people to the side of the old Liao, almost all men look like did not see was so wrecked all hail halo , and did not think to those people with Liao, Liao in the end, in addition to her two sister, who are not around now, that feels a bit scared.
Suddenly, they found squatting under an old tree the circle of people, enough to have several hundred numbers, all men, Juezhaopigu squatting there, rows and rows and can only see them on the back, these people are a whole something? they heard of the mountain ginseng , co-hand black, fungus, are the most valuable rare medicinal herbs, especially ginseng, there are many names, known as God, grass, ground fine, Tengu, wooden club, something that is long in the mountains, several hundred years of God dog, then into a fine, and can become big fat baby, but also become big girl, if people encounter mountain into the old mountain Need reference, must not be quiet this time that I saw ginseng, and can only say that I see with the companion fell asleep again digging, digging even before the first worship gods, vegetarian bath, living with a red cloth to get the ginseng dug home.
which these people crouched motionless, is not in the dug ginseng ? how so many of ginseng? curiosity, the wanted to have a look, Braun and Guilan timid, stopping her let go, she did not listen, his shot went over the shoulders of the man squatting on the ground: Big Brother, the whole Shane? evaporate out of thin air as if the air in the forest.
Braun said to me: hh was related to the cat, do not know the whole Han's not a hh blink of an eye on the whole. at the halfway point, it is necessary to late autumn, and white birch leaves in the wind bells, How can there be several hundred people squatting on the floor? we were walking and looking, and if so what conditions must be identified as soon as possible, can not let these things threaten everyone.
did not walk a few steps, stumbled and fell for a fat foot of a horse lying, Mamalielie get up, that is the root of the root of his trip, is not touched as the roots, get immediate look, immediately threw: where to look fat fall, the soil is also a small half out of the bones, a leg might be fat on the trip, to come out from the soil of this Tiduan the forearm.
before I sent two people to send Bailing them back, leading the few remaining people with a shotgun before the fork dug soil, a few did not dig the soil to reveal a large number of people in the bone, fat man asked me: Army underground fortress that workers have to Kwantung Army killed and buried in mass graves in which the wood, just Guilan those they see a ghost Sa? cold is getting stronger, digging a few people feel like I played a layer of goose bumps.
moth body double Li Wen Chi Bi 4
a skeleton buried in the soil layers with, we just dug litter under a small place, to have lost count of how many human bones, human bones can be seen clear signs of slaughter, ribs, neck, marks on the skull, clearly visible, many with the body from the skull scattered them, apparently they are being chopped down.
many legends about the black air, gold is probably the most famous late Yuan, the main force of the Mongols that big break Kinbyo famous battle, dozens of million Kinbyo, the bodies piled up a mountain, and Mongolians sweep the battlefield to their bodies carelessly thrown into the ditch Savage is said to have given the whole valley was filled, so far as the ancient battlefield near the Millennium, those payments will Kinbyo The corpse, already decadent of air to the soil.
numerous bones of the dead trees should not be the legacy of that era. Jinyuan black air war in history, the only time in the large-scale campaign here has been to Later, the Kwantung Army stationed in secret, to be heard of other fighting took place.
After much deliberation, and only a possibility, Comrade Lenin once said: requirement is, we should mention this problem within a certain historical context. things would not understand, walk under a tree when fat was a forearm trip, and found a large number of remains buried soil. But how would there be a skeleton arm sticking out from the soil half?
This is a bit Wutu facts, if it was then buried the bodies of the Kwantung Army, on the exposed left arm, then buried the dead here, dug up by wild beasts eat long gone, is it hh it was deliberately extended from the soil stumbled out of the fat bit, so we find them? think it felt a bit scared, I did not dare to think about The depth of, say hello to everyone dug the soil, re-fill back to rush back to camp, to find secretary to discuss countermeasures.
rushed back to camp the other side of the valley, they see a group of British children from the mountains, hunting kick back, though encountered hail, but still only the roe deer hunting, bear to the number of wild deer, adequate and the dogs eat out three or four tons.
a few older women are busy cooking, the rest of the some of the rest, some around the tent to see Pharaoh second daughter at home, I entered the tent, to see her was awake, drank hot ginger, is a secretary and others about her experience in the woods: ? I speak with you, it is such a thing hh hh Oh that guy said you could not believe the old scary hh Liangshan Yi Park is a loud noise in fifth? you're busted it need not, and guess Han guess it? you pick it useful to say directly. a: circle of people, that made him a more than a Mai Tai, Jiu wonder ah, wanted to have a look at is the Editor's Note ah, began digging the argument that they are the old customers, the results from the last couple of look is not, in a a tree kowtow? Han knock you head to the tree ah? it is the tree can not get the Buddha? Anjiu good a film, after which a person's spine, to ask him this is Gansha, and the results you guessed how? Jin you, cut you back to royal dick hh :
Tuesday, December 28, 2010
New investors to invest in education - heaven or hell, stock index futures
Zhang Weixing wonderful views
I personally think that the end of this year stock index futures, stock index futures will be introduced early next year to.
Great, but what most of the development needs of China's major financial markets are large, but the whole of China's rapid economic growth.
The greatest feature of futures trading is leverage, leverage means high risk, high return.
this new market is a gambling market, betting on the future.
such a large stock index, including the Shanghai and Shenzhen Index CSI 300, or are not necessary to consider the problem of manipulation.
some people to do more in the short period of shock are not making money, some people can earn big money, the key trends can not fight.
all the short-term futures 95% of traders lose money. I do not know that you are not that 5%, if not, I advise you not to short-term operation.
high volatility in the stock market added more than ten times leverage, the stock market risk is the heaven and Hell.
some investors realize that stock prices can not earn a lot of money.
Zhang Weixing: Hello everybody!
and information network: the problem of stock index futures have been rumors for a long time in the world yesterday, according to the market points in history there in terms of the largest rebound, rebound because, in addition to factors other than oversold, the market today or in another one or two days a timetable for the introduction of stock index futures will be announced Dec. 28 will be officially implemented. Zhang You When that stock index futures will be introduced to?
Zhang Weixing: stock index futures for a long time, is China an important part of the financial markets. I personally think that the end of this year, will be introduced early next year to stock index futures. because of repeated preparations , testing, software running, and member of the views of investors has been modified for a long time. In the past, when we talk about is the stock index futures in 3000, some people can not index the view is adjusted down, we have a relatively low point when the introduction of stock index futures, now passed 3,000 points, 4,000 points, 5,000 points are gone. If time is more delayed, the risk of introduction of large, low point in the introduction of more and more remote. the recent stock market have also been adjusted transferred to the 5000 points, do not expect the stock market may be set too deep, this is good timing of the introduction. I think the point is not important, no matter what point, it is necessary to push as soon as possible.
reason is simple, but what most of China's large demand for financial market development are great but the whole of China's rapid economic growth, rapid economic growth requires sound financial markets, financial markets, stock index futures is a very important part. sooner or later the stock index futures, we and innovative financial products do, as long as we need to do in the morning than the evening. The stock market is also a premature child, was not ready for a lot of things, but get out of the stock market or the financial markets have greatly promoted, regardless of any shortcomings or What is the problem, but do not worry, China's financial industry can take risks, you can afford the products of innovative products. Therefore, my view is that as soon as possible on.
power over the parties under the power, I think that time should be very fast. schedule is likely to be out this month. at the end or beginning to enter combat at the operational level.
and Information Network: Speaking of Sharon, the subject is involved in stock index futures investors, institutional investors to participate in no problem either hedging or arbitrage, retail participation is problematic, however, is said to have 15 million threshold, do you think individual investors can participate?
Zhang satellites: individual investors can be divided into the size and expertise of capacity, which is different, can not say you are an individual investor can not participate in stock index futures. I think that the first stock index futures by a professional to participate, you're not an organization in the knowledge that a professional investor, if your experience, abilities, knowledge is not enough, may are not professionals, or even lost badly, have a variety of experience in futures trading. Even if you are long time practitioners in the market, a lot of accumulated experience, but not the core of knowledge does not work, you need to have experience, and has the market practitioners knowledge, is the professional. You can learn, but you must remember that you have to pay the costs and the cost of learning and a lot of costs in order to become professionals. not to divide the size of funds. If you have 100 million, if experience not enough, you may lose 100 million to a few days, probably 100 million a day it was gone. and your professional knowledge to good, strong ability to create rich-quick stock index futures can give you the opportunity to make 20,30 million dollars, may be turned several times a few months, it is not uncommon in the futures market is a universal phenomenon.
index futures we have to understand it is a futures exchange. The greatest feature of futures trading is the leverage and leverage means high risk, high yield, we first high-yield on the back, look at high risk. the test is to leverage your trading flaws in the end be? not necessarily amplify your gains, but you the transaction process if flawed, will be enlarged by 10 times, is designed to grab your place defects. We do stock market, if the election 10 stocks 8 shares to make money, two stocks lose money, you must be making money. levels ; twenty-eight a leverage effect.
and Information Network: Like you said, no matter the situation there riches or just the principal amount gambled there the day the case of Ye Hao, you think it is a stock index futures which are trading , are hedging transactions, or arbitrage trading, or both are possible?
Zhang satellites: general investors hedging argument simply does not exist. The establishment of futures markets, economics textbooks which we General to set up their own things to find a reason or source, that we set up futures markets to hedge and so on. I think this is an excuse. In fact the futures market transactions to meet people's desire to meet the needs of a leverage of market. that straightforward point, it is a speculative market. now all the world's futures markets are all speculators, futures traders. I have to invest in the so-called speculation is to seize the opportunity, looking for opportunities to invest in the market people, with the leverage approach. including U.S. hedge funds, are now done in the way of leverage. futures market do not have to put on mask of their own, says he is investing or hedging, is in fact not the futures market is speculative of the market, speculation is not wrong, is a neutral term speculation, you seize the opportunity to make money, did not seize the opportunity to lose money, this is the rules of the market.
and information network: you said it interesting. But as far as we know, Chinese enterprises are in the international futures market seems to hedge, and all loss badly.
Zhang satellites: they speculate.
and information networks: they are not hedging hedge?
Zhang Satellite: for all their behavior in speculation. all enterprises in China, including CNOOC, China Aviation Oil's actions are all in the next one speculation. including the CAO, which is selling oil and oil orders has been completed, why would sell the oil it? is not so large that when the market demand, oil prices rose $ 40 a barrel to 40 dollars a barrel on the history of the highest, he was short on a lot of hope that oil prices fell profit taking after he was speculators, but the end result of speculative failure, the oil did not listen to his words, continuous boom, it crashed. including China's State Reserve Bureau is in the futures market speculation, not hedging, if Hedging should buy copper, because of the rapid development of Chinese economy, China needs copper, copper imports will affect the international price of copper, it should be in the market to buy more than a single copper, the risk to resolve out. because future prices are likely to rise, I real price risk locking, called hedging, but we see the CAO in short, betting oil prices. China's financial textbooks that do not know the evil nature of things, including the derivatives market is speculative, that is, gambling , be sure to confirm the speculation with a professional manner, to say he is not hedging, you are to put a layer mask of his own speculation, to cover up, loser in fact unclear.
and Information Network: SFC will require both broker, or QFII can only hedge fund, is not so that you can prevent them from arbitrage investment transactions?
Zhang satellite: agencies all orders, are bearish or bullish on behalf of the enterprise their own judgments, their own behavior. requirement is provided, the actual is the actual, if we are hedging by the provisions of the Commission, then who is the rival offer? no rival offer, they are buying stocks to buy more, hedging are one-way, can not be traded.
and Information Network: Awkwardness of votes held by the Fund must be passive, certainly the next empty one, because it can hedge.
Zhang Weixing: Fund This, QFII is not the case. QFII can not short stocks, is also heavily loaded with stocks, has also done under the control of a single hedge, by your logic, all the institutional investors to the next empty one.
and telecommunications network: there are some non-institutional investors, like private equity funds, hot money that they will see empty.
Zhang satellite: it becomes another bet. this new market is a gambling market, betting on the future. because the will not rise tomorrow? today to do the next one, if you want to order, and tomorrow is not a gambling element? you my analysis of the needs of various industries, the results it really is rising, this is a bet won. This is mental activity, I have to decision-making, go to the next single. gambling process, dare to pressure up, to buy 100 shares or 1000 shares have decision-making psychology, the process has the pressure on the gamble. bet on your strong determination to win big money. All of the investors do not hedge because the stock index futures is confused by the theory textbooks. wrong, the market is market speculation.
users: to push the domestic stock index futures, is CSI 300 is certainly not the future, it will introduce other index futures?
Zhang Weixing: now the Shanghai and Shenzhen 300, if the market demand, more scientific species, there will be many, including the Shanghai and Shenzhen 300, the Shanghai Composite Index, Shenzhen Component Index can do the number of stock index futures. as overseas, with China out of hundreds of stocks for the index, then a stock index futures, financial derivatives it is easy to do innovative work. As long as demand is there, we identity can, because the CSI 300 is relatively mature, after all, to do a limited number of constituent stocks. do analysis Ye Hao, an analyst of financial institutions to do, it is easier to accept. Now the Shanghai and Shenzhen 300 is preferred.
and Information Network: Management believes that the Shanghai and Shenzhen 300 will not be market manipulation. we think that Shanghai Composite Index heavyweight highly manipulated, for example, the oil accounted for more than ten percent, ninety percent are related to several sex. do you feel about?
Zhang satellite: such a large stock index, including the Shanghai and Shenzhen CSI 300 index, or are not necessary to consider the problem of manipulation, because there is no heavyweight stock can affect a large enough. For example, in the 10% of oil trading board is not able to affect the Shanghai Shenzhen 300 Index rose 10%, or, if not do not need to consider. of course have an impact, for example, rose 10%, but the contribution of the oil on the stock only 1% It will not be much problem.
and information network: If the index in terms of 5000, up more than 100 points is 2%.
Zhang satellite: it depends on how much money the market can push the oil to the daily limit. in the stock index futures on the list will pay a little push. This so-called control or leverage thing is worth the candle, with little money to pry a large interest, with the stock skid in oil, big money spent, have the interests of the small, do not match. so there is no use of manipulation to make a profit. I think not to worry.
and information network: the volatility of stock index futures on the market generally believed that the introduction of stock index futures to the future, not huge on the spot market volatility and even the spot market will become more stable, you agree with this view? that volatility will be greater or smaller?
Zhang satellite: early in previous years will certainly be greater. because the behavior of stock index futures burst open positions cause volatility than stock index futures, stock index will have some impact on and increase the volatility of stock. So two or three years ago because the stock index futures, but volatility will increase. because after all, institutional investors are not very mature, burst positions, the phenomenon will open a lot of volatility will increase.
normalization, enough to increase trading volume, such as stock index futures trading volume is very large, the number of shares will increase a lot. trading volume increased after emotional fluctuations caused by the market ironed out, for example, you screwed up, is open the. because you did not affect the amount of the market, enough to deal. Therefore, a number of flat stock volatility, stock volatility is also flat, because the amount of the greater the value the more profit spike situation is relatively small. If the market for us, in the short squeeze, but also in doing more, every day, lose money, you may have to liquidate, not take over the disk, space will be enormous price fluctuations . on this issue have a clear understanding. because of the amount of the initial problems, will increase the volatility index, developed to a certain period after the transaction volume is large enough, but volatility of stock index and stock index futures will be small, because there are hedgers , a little bit of glitches have cross-market arbitrage, increased the degree of transaction frequency and volume, the market volatility to filter out the glitches.
and News Network: Do you mean to say that when the market is more mature, when the market introduction of stock index futures a long time, when the power will be more than speculative hedging power of big?
Zhang satellite: a cross-market arbitrage. because in the futures and spot markets at the same time do the two markets will All the glitches ironed.
and News Network: Since you say that the early introduction of stock index futures volatility is very risky, we worried that the policy-driven volatility, recent market after falling nearly 1,000 points, the policy is a guide fire cable. the last time you talked to a point, the differences between long and short large long and short single confrontation occurred, the amount of more than a single suddenly single down the empty defeated, how do?
Zhang satellites: the risk of stock index futures Investors are not here, the investors risk is limited, regardless of education or not, for the test, we have experienced is a risky stock index futures varieties, so think twice, will consider a variety of risks. Actual stock index futures on the biggest test is the government, because we all know, China is the policy of the city, the city policy is characterized by a new policy will often sudden, intrusive policies introduced, the volatility of stock index, which is a government department management impose the views of stock. It is uncertain .96, the index rose to 1200 points, we are very pleased with the results to the People's Daily editorial, you fried junk stocks to three daily limit. because of speculation the government level, the individual will add to the mix, leading stock index down. In the past, including editorial policies, , click on the index fell to 3400 points. this is the policy imposed.
If there is no stock index futures, these things are not directly related to the particular, say you buy a stock because the government is stuck with a certain policy or three daily limit, there is no significant relationship with the Government. The Government has not said how about the stock. the legal relationship is clear, and some stock in the stock no. so this is an indirect influence, rather than directly. So, we said in the past, said the city policy is not good, but the government is the index to go, is the stock to investors, and are not directly relationship. But with the stock index futures is very horrible, later the policy of the city. For example, if two time points, two warehouse receipts, and empty single for more than a single decisive battle, if the Government a policy decision, this time very troublesome because the introduction of the Government's policy as part of agency decision directly to heaven, part of the body go to hell; part of investors to riches, some investors lose everything. If the policy were introduced, do you dare to put up?
and Information Network: The Government will introduce such a situation? government would realize that such situations do?
Zhang satellite: very blunt way over the past policy of the city, looking up is not pleasing to the eye, and hit it, then drop deep to rescue the market, so only the policy of the city. Now some of tactics is not science. still have some problems. not so much in the stock market, but in the stock index futures will be a problem. At that time, National Development and the beam is not an issue between the nations, in fact, the trend of the Treasury for the Treasury. Health policy decisions of a body to determine a body to die. The question had committed in the future may also make that mistake.
and Information Network: How to avoid this from happening?
Zhang Weixing: policy of the city is characterized by its transparency, the United States has Bolan Ke Greenspan interference in the stock market, including U.S. President George W. Bush also made a speech when the stock market falls, the stock market up there intervention areas. But the transparency of decision-making, for example, when the Fed met the market knows, and one or two months prior to the market to know that can be analyzed from a cut in interest rates or interest rates. According to economic data, sitting in all the decision makers at their previous comments, their views, we can know the results of this meeting is to raise interest rates or interest rates or not cut interest rates. The meeting of basic transparency. This will come out ahead of all expectations reflected in the financial markets, the rise of rise, the fall down, so in general no major controversy.
in China, we do not know when meeting someone in a meeting, what policy would be introduced, which is the biggest problem. I think that China's stock index futures after the introduction of the role of one of the largest increasing transparency in decision-making, because there is no transparency in the decision-making can not play this game go.
and Information Network: No transparency in decision-making, when to advocate the introduction of stock index futures, not to make forerunner to pay you?
Zhang Satellite: China's stock market has grown to today, how many seniors do not pay the price? that there is no way, although the path is cruel, but it is also realistic in the current circumstances the best way, be sure to make people pay a price to pay for the whole community, the investors, the Government of all access to information, to know, should such a market.
and Information Network: If there were that day how to do stock index futures institutions , is not enough margin to do more, there is a bad policy implementation, and quickly to avoid margin calls warehouse explosion.
Zhang Satellite: This is a local problem. big trend right, there are some small trend fluctuation margin approach can be used for protection, but if the big trend wrong, how many bonds to no avail. CAO is such a big problem is not the beginning, the results of the more up more positions, more losses to the greater. if not flesh, cut position, then the CAO will enter into a whole, owe a lot of debt. was at 38 dollars, now close to 100 dollars. If no margin calls, the CAO may 20 are lost into the.
and information networks: the key turning point in the Contracts, if wrong direction, again with a bad policy on the trouble.
Zhang satellites: Some people do more in the short shock of all make money, some people can earn big money, the key trends can not fight.
users: There is no specific stock index futures investment fund?
Zhang Weixing: In the overseas market, the so-called hedge funds are basically futures trading using leverage to do index futures, stocks and this is very normal in the overseas and domestic to invest overseas, I have to use the general feeling of leverage, leverage is not applicable, not much significance to invest overseas.
User : stock index futures is not to do long-term investment? warehouse full of stock index futures can operate?
Zhang satellite: any variety of long-term investments can be done to see if you do not know how to understand trading rules, but stock index futures have delivery deadlines. after the expiration of all The warehouse receipt must be flat out, do not you open, close after the index's closing level for the reference point must be liquidated. rose to 7,000 from 5,000, and I want to do long-term, this process may take a year to the process, may be four open positions, you can switch positions after the finish warehouse receipts, after the Closing Date, in the next period of time, to open a warehouse, then close out this one. so the professionals can do, in the delivery time can do the rollover operation.
warehouse full of discontent is not important. stock index futures are leveraged variety. If you say I only use one tenth of the money to buy, do not need to buy stock index futures, bought Stock on the end. Why should we participate in stock index futures, is to use a small broad feature, the benefits of the use of leverage, the time to seize the opportunity to leverage magnified. important, not sure of your judgments, when operations must not Shigekura . are you sure when, according to your ability to have leverage over the value used 1:3,1:5, or no meaning. If the higher level can be 1:10, as a beginner is concerned, it is best not More than half of positions. my usual suggestion is no more than 1:5 leverage ratio.
and Information Network: is not the need to prepare sufficient margin to cope with the volatility of warehouse receipts?
Zhang Weixing: Actually this is wrong ideas. If you're wrong about the market, how much margin is not enough.
and information networks: quickly open?
Zhang Weixing: Yes. This is to do the characteristics of futures, or to play a big victory, or to play a big defeat, if sticking to, how much money will be a problem filling inside. At that time the State Reserve Bureau 3000 with the short, but by 5000, he has also been margin calls, has been forced to close out the 7000,8000, otherwise the country will lose the even worse. Futures is one such feature, because you added leverage, the wrong will lose.
and information network: End warehouse stock levels return to 5,000 points. if he has insisted is not a sufficient margin can wait until 5000.
Zhang Satellite: This is the problem of multi-party contest. If do not want to expand the war, began to throw in the towel, like that. because still insist on, people will definitely take you only so far to defeat.
and Information Network: shocks when the city should be margin calls, do not wait until it get back all right?
Zhang Weixing: To judge is not the shock city. do futures difficult, challenge is not blind, gambling is now a bear market , bull or shock city. If you are unsure, do not feel that seeking death come to play. If you are a genius, can predict the market soon is the shock, put the bull market, bear market filtered out to approach the city with shock operation. operating without problems, But once the wrong is the bull market, you go short, you say shock city margin, how many will lose the added margin.
and Information Network: is the State Reserve Bureau, for example, must be made up more than a single He will do one up free.
Zhang Weixing: there must be a single transaction, or no meaning. from the perspective of long and short two large main must be like this, you do not play I pull up does not make sense, no rival offer.
and Information Network: the introduction of stock index futures will soon become the first short squeeze of the tool? because the SFC, they require the hedge to do legal institutions, whether or QFII funds or other institutions, they do hedging will be the next empty one, will be down more than a single play, because there are so alone in this long-short inside. Securities Regulatory Commission, they must and can only.
Zhang satellite: this is unlikely situation. I can not participate in stock index futures. If we understand this direction is the same, we are doing more, it will go up, they will not go short, no one traded stock index futures without any risk. stock index futures all risk in the accumulation of long and short on big orders, the risk did not rise, or there is no risk, because no one transaction, you call stock index futures also not making money, because no one bearish, not transactions, see the 7000 from 5000 points also do not earn a penny. some differences, in order to have turnover.
User: T +0 stock index futures trading can be repeated at the time you?
Zhang Weixing: 95% of all short-term futures traders are losing money . I do not know that you are not that 5%, if not, I advise you not to short-term operation.
users: how to set up the stock index futures stop?
Zhang satellite: no rules, only the decision of your financial knowledge Last thing, the so-called stop-loss of 1%, 10% stop loss is nonsense, your investment funds are shrinking fast way out or lost. If you have not played for playing a simulated disk.
and News Network: simulation trading played a lot of people do you think trade is really the simulation?
Zhang Weixing: simulation trading can simulate a lot of things, the only simulation is not your mental, heart, free from any interference because the decision-making is a decision model, if you jumped to all the wealth or not, the heart will beat, all the hormone changes, and that decisions made in your mind will change. This is not all the simulation. financial derivatives and financial derivative investment last characteristic is that you want to bet, you have to really gambling.
and information network: Simulation of 12-month futures reached 12,000 points, someone commented that these people do not cash losses, it does not matter how many points are hit, there is impossible.
Zhang Weixing: Yes. because it is not true. The hardest part is making your heart when the whole body, which is the core emotional.
users: the relationship between futures and spot what of?
Zhang satellite: current spot market in China is the mainstream, because the transaction than the greater, because the people involved in fewer stock index futures, will fluctuate, that is, there will be glitches and bias. Generally speaking, around the index burr itself, and finally to the index will be unified come.
and Information Network: deviation is relatively small?
Zhang Weixing: hard to say.
and News Network: there arbitrage opportunities do?
Zhang satellites: course.
and information network: the larger the proportion of time arbitrage?
Zhang Weixing: stock index futures and spot market in the world do many professional organizations arbitrage opportunities. For example, stock index to 5,000 points, since the special warehouse explosion, or causes to be closed, the price difference of 500 points to 5500 points, you can short selling stock index futures in the spot market to buy ingredients of a stock. This departure from the point of difference is certainly short-lived phenomenon, once the overlap on the same positions, a make money, a money-losing, but losing money in the spread between what you have set the profits. in emerging markets is very much of this carry.
users: the greatest impact on stock index futures What are the factors? Now, some people think that the spot The main impact of market futures market? is that right?
Zhang Weixing: index itself is formed by spot trading, stock index futures is expected to form it. For example the next bull market, stock index to rise, it is now 5000 points will go up after to 7000 points, will deviate from the stock index futures, for example, 5200,5300, 6000 may reach forward again, and then may forward to 7000. This is a bullish bearish.
and Information Network: premium or discount?
Zhang Satellite: Yes. have the appearance of out of stock index futures, stock and stock index is the most important.
users: do good or domestic stock index futures index futures overseas to do good?
Zhang Weixing: H shares, or Hong Kong's Hang Seng Index are stock index futures, stock index futures to do, more zero-sum game, multi-and air-side multi-index futures bet. As investors become more familiar with certain terms of China. Since it is a gamble, might as well bet on China's stock index futures more secure sex. to do in Hong Kong, to explore the laws of the Hong Kong stock market ups and downs, if you do not know, money is likely to go in Ta.
and information network: can not summarize what about the risk of stock index futures in the end? is similar warehouse explosion Risk A?
Zhang Weixing: stock index futures is the high-end variety of financial derivative transactions, friends do not understand Do not touch the stock index futures, stock index futures is based on the risk in the stock, you first need to understand what the risks of the stock ups and downs? What factors have led to the stock market go up or down, you must first learn the stock market is good, good exercise. You have to understand the rise and fall of stock index and risk insurance, contracts, leverage is. must first understand the risk index and the ups and downs where? you If even the ups and downs of stock index and the risk of the relationship are not clear best not to do a stock index futures. If the stock index futures opened earlier, such as opening the 1000, 2000, after opening, it may long be dead, because the bulls that will rise to 3000 anti-air, then shorting the stock index futures will die, because you think the stock market has risen to the top, so to sell the stock, we have the stock market, there are short, to bring this tied up, you go do other stocks. If you do stock index futures, there will be 80%, 90% of the short one, will die. If you press the lever, then 1:10, up 10% of the positions will burst, and now rose to 5,000 points from 3,000 points, enough to burst positions 10 times the.
and Information Network: a higher level can be summarized from the significance of stock index futures. There are two people say that after the introduction of stock index futures, can solve the stock market bubble, the unilateral change in the stock market bull market mechanism. outside of China can take in the international market (the stock market, financial markets, derivatives) of the pricing, do you think the stock index futures do have such a big role?
Zhang satellite: this exaggerated, all of China's stock prices and institutional investors in China pricing, in the game, that another job to sell, to buy low. China's trading volume of all stocks in China itself, the absolute pricing in China. QFII and the proportion of foreign investment is relatively small, affect our ups and downs, but not enough to definitely affect China's stock market The ups and downs trend. No matter is not on stock index futures, pricing power in our own hands, because this is our own species. Second, we tend to easily give it to the new product itself does not have the function and the halo, which are not significance. these claims did not exist. stock index futures is the high end of the financial products to meet a number of institutional investors, investment demand and speculative demand, both institutional investors to avoid the risk of trading channels, but also to give institutional investors I assume some of the high risk investment channels for high interest.
and telecommunications network: it can change you long unilateral City?
Zhang Weixing: This is impossible.
and Information Network: because they can short ah.
Zhang satellites: the leverage of stock index futures is a zero sum game, only to increase significantly, increase trading volume, not change the trend itself. If you follow the trend of confrontation, you go short, the stock market rose, the more short, the back The greater the energy bulls, can talk to you like the confrontation.'s State Reserve Bureau to place such a measure, that the 3000 short, is not to process all the copper short, the London copper drop down, then it is naive, China's copper all the London copper short, I tell you, the world will come to eat all the funds you copper. This is the trend can not be changed. this concept we first have to clear. stock index futures is greater volatility, the absolute can not change the trend itself.
and Information Network: stock index futures in the futures market is more severe the long side?
Zhang Weixing: Of course. a dream of financial institutions, financial war is something that many people tried to grab this opportunity highly contagious, all resources will transfer over.
and Information Network: Futures war is not often nothing to do with the fundamentals, only has a relationship with the capital side?
Zhang satellite: it is not. parties and air side is money, money is the same, all points are multi-party money and money on the short side. who decided trend is determined by fundamentals, up, multi-win. down the short side to win. < br> and the information network: the State Reserve Bureau to determine the wrong direction, so that loss was caused when?
Zhang Weixing: Yes. This is the CAO at the time, as do 40 of the oil, the more you go short, the more money came in, many people will transfer more money, there are many people involved. If the war formed the war situation has been set, you do not throw in the towel, there will be more people to play booty, to see who wins. This is trends contributed.
and News Network: I hear you ...
I personally think that the end of this year stock index futures, stock index futures will be introduced early next year to.
Great, but what most of the development needs of China's major financial markets are large, but the whole of China's rapid economic growth.
The greatest feature of futures trading is leverage, leverage means high risk, high return.
this new market is a gambling market, betting on the future.
such a large stock index, including the Shanghai and Shenzhen Index CSI 300, or are not necessary to consider the problem of manipulation.
some people to do more in the short period of shock are not making money, some people can earn big money, the key trends can not fight.
all the short-term futures 95% of traders lose money. I do not know that you are not that 5%, if not, I advise you not to short-term operation.
high volatility in the stock market added more than ten times leverage, the stock market risk is the heaven and Hell.
some investors realize that stock prices can not earn a lot of money.
Zhang Weixing: Hello everybody!
and information network: the problem of stock index futures have been rumors for a long time in the world yesterday, according to the market points in history there in terms of the largest rebound, rebound because, in addition to factors other than oversold, the market today or in another one or two days a timetable for the introduction of stock index futures will be announced Dec. 28 will be officially implemented. Zhang You When that stock index futures will be introduced to?
Zhang Weixing: stock index futures for a long time, is China an important part of the financial markets. I personally think that the end of this year, will be introduced early next year to stock index futures. because of repeated preparations , testing, software running, and member of the views of investors has been modified for a long time. In the past, when we talk about is the stock index futures in 3000, some people can not index the view is adjusted down, we have a relatively low point when the introduction of stock index futures, now passed 3,000 points, 4,000 points, 5,000 points are gone. If time is more delayed, the risk of introduction of large, low point in the introduction of more and more remote. the recent stock market have also been adjusted transferred to the 5000 points, do not expect the stock market may be set too deep, this is good timing of the introduction. I think the point is not important, no matter what point, it is necessary to push as soon as possible.
reason is simple, but what most of China's large demand for financial market development are great but the whole of China's rapid economic growth, rapid economic growth requires sound financial markets, financial markets, stock index futures is a very important part. sooner or later the stock index futures, we and innovative financial products do, as long as we need to do in the morning than the evening. The stock market is also a premature child, was not ready for a lot of things, but get out of the stock market or the financial markets have greatly promoted, regardless of any shortcomings or What is the problem, but do not worry, China's financial industry can take risks, you can afford the products of innovative products. Therefore, my view is that as soon as possible on.
power over the parties under the power, I think that time should be very fast. schedule is likely to be out this month. at the end or beginning to enter combat at the operational level.
and Information Network: Speaking of Sharon, the subject is involved in stock index futures investors, institutional investors to participate in no problem either hedging or arbitrage, retail participation is problematic, however, is said to have 15 million threshold, do you think individual investors can participate?
Zhang satellites: individual investors can be divided into the size and expertise of capacity, which is different, can not say you are an individual investor can not participate in stock index futures. I think that the first stock index futures by a professional to participate, you're not an organization in the knowledge that a professional investor, if your experience, abilities, knowledge is not enough, may are not professionals, or even lost badly, have a variety of experience in futures trading. Even if you are long time practitioners in the market, a lot of accumulated experience, but not the core of knowledge does not work, you need to have experience, and has the market practitioners knowledge, is the professional. You can learn, but you must remember that you have to pay the costs and the cost of learning and a lot of costs in order to become professionals. not to divide the size of funds. If you have 100 million, if experience not enough, you may lose 100 million to a few days, probably 100 million a day it was gone. and your professional knowledge to good, strong ability to create rich-quick stock index futures can give you the opportunity to make 20,30 million dollars, may be turned several times a few months, it is not uncommon in the futures market is a universal phenomenon.
index futures we have to understand it is a futures exchange. The greatest feature of futures trading is the leverage and leverage means high risk, high yield, we first high-yield on the back, look at high risk. the test is to leverage your trading flaws in the end be? not necessarily amplify your gains, but you the transaction process if flawed, will be enlarged by 10 times, is designed to grab your place defects. We do stock market, if the election 10 stocks 8 shares to make money, two stocks lose money, you must be making money. levels ; twenty-eight a leverage effect.
and Information Network: Like you said, no matter the situation there riches or just the principal amount gambled there the day the case of Ye Hao, you think it is a stock index futures which are trading , are hedging transactions, or arbitrage trading, or both are possible?
Zhang satellites: general investors hedging argument simply does not exist. The establishment of futures markets, economics textbooks which we General to set up their own things to find a reason or source, that we set up futures markets to hedge and so on. I think this is an excuse. In fact the futures market transactions to meet people's desire to meet the needs of a leverage of market. that straightforward point, it is a speculative market. now all the world's futures markets are all speculators, futures traders. I have to invest in the so-called speculation is to seize the opportunity, looking for opportunities to invest in the market people, with the leverage approach. including U.S. hedge funds, are now done in the way of leverage. futures market do not have to put on mask of their own, says he is investing or hedging, is in fact not the futures market is speculative of the market, speculation is not wrong, is a neutral term speculation, you seize the opportunity to make money, did not seize the opportunity to lose money, this is the rules of the market.
and information network: you said it interesting. But as far as we know, Chinese enterprises are in the international futures market seems to hedge, and all loss badly.
Zhang satellites: they speculate.
and information networks: they are not hedging hedge?
Zhang Satellite: for all their behavior in speculation. all enterprises in China, including CNOOC, China Aviation Oil's actions are all in the next one speculation. including the CAO, which is selling oil and oil orders has been completed, why would sell the oil it? is not so large that when the market demand, oil prices rose $ 40 a barrel to 40 dollars a barrel on the history of the highest, he was short on a lot of hope that oil prices fell profit taking after he was speculators, but the end result of speculative failure, the oil did not listen to his words, continuous boom, it crashed. including China's State Reserve Bureau is in the futures market speculation, not hedging, if Hedging should buy copper, because of the rapid development of Chinese economy, China needs copper, copper imports will affect the international price of copper, it should be in the market to buy more than a single copper, the risk to resolve out. because future prices are likely to rise, I real price risk locking, called hedging, but we see the CAO in short, betting oil prices. China's financial textbooks that do not know the evil nature of things, including the derivatives market is speculative, that is, gambling , be sure to confirm the speculation with a professional manner, to say he is not hedging, you are to put a layer mask of his own speculation, to cover up, loser in fact unclear.
and Information Network: SFC will require both broker, or QFII can only hedge fund, is not so that you can prevent them from arbitrage investment transactions?
Zhang satellite: agencies all orders, are bearish or bullish on behalf of the enterprise their own judgments, their own behavior. requirement is provided, the actual is the actual, if we are hedging by the provisions of the Commission, then who is the rival offer? no rival offer, they are buying stocks to buy more, hedging are one-way, can not be traded.
and Information Network: Awkwardness of votes held by the Fund must be passive, certainly the next empty one, because it can hedge.
Zhang Weixing: Fund This, QFII is not the case. QFII can not short stocks, is also heavily loaded with stocks, has also done under the control of a single hedge, by your logic, all the institutional investors to the next empty one.
and telecommunications network: there are some non-institutional investors, like private equity funds, hot money that they will see empty.
Zhang satellite: it becomes another bet. this new market is a gambling market, betting on the future. because the will not rise tomorrow? today to do the next one, if you want to order, and tomorrow is not a gambling element? you my analysis of the needs of various industries, the results it really is rising, this is a bet won. This is mental activity, I have to decision-making, go to the next single. gambling process, dare to pressure up, to buy 100 shares or 1000 shares have decision-making psychology, the process has the pressure on the gamble. bet on your strong determination to win big money. All of the investors do not hedge because the stock index futures is confused by the theory textbooks. wrong, the market is market speculation.
users: to push the domestic stock index futures, is CSI 300 is certainly not the future, it will introduce other index futures?
Zhang Weixing: now the Shanghai and Shenzhen 300, if the market demand, more scientific species, there will be many, including the Shanghai and Shenzhen 300, the Shanghai Composite Index, Shenzhen Component Index can do the number of stock index futures. as overseas, with China out of hundreds of stocks for the index, then a stock index futures, financial derivatives it is easy to do innovative work. As long as demand is there, we identity can, because the CSI 300 is relatively mature, after all, to do a limited number of constituent stocks. do analysis Ye Hao, an analyst of financial institutions to do, it is easier to accept. Now the Shanghai and Shenzhen 300 is preferred.
and Information Network: Management believes that the Shanghai and Shenzhen 300 will not be market manipulation. we think that Shanghai Composite Index heavyweight highly manipulated, for example, the oil accounted for more than ten percent, ninety percent are related to several sex. do you feel about?
Zhang satellite: such a large stock index, including the Shanghai and Shenzhen CSI 300 index, or are not necessary to consider the problem of manipulation, because there is no heavyweight stock can affect a large enough. For example, in the 10% of oil trading board is not able to affect the Shanghai Shenzhen 300 Index rose 10%, or, if not do not need to consider. of course have an impact, for example, rose 10%, but the contribution of the oil on the stock only 1% It will not be much problem.
and information network: If the index in terms of 5000, up more than 100 points is 2%.
Zhang satellite: it depends on how much money the market can push the oil to the daily limit. in the stock index futures on the list will pay a little push. This so-called control or leverage thing is worth the candle, with little money to pry a large interest, with the stock skid in oil, big money spent, have the interests of the small, do not match. so there is no use of manipulation to make a profit. I think not to worry.
and information network: the volatility of stock index futures on the market generally believed that the introduction of stock index futures to the future, not huge on the spot market volatility and even the spot market will become more stable, you agree with this view? that volatility will be greater or smaller?
Zhang satellite: early in previous years will certainly be greater. because the behavior of stock index futures burst open positions cause volatility than stock index futures, stock index will have some impact on and increase the volatility of stock. So two or three years ago because the stock index futures, but volatility will increase. because after all, institutional investors are not very mature, burst positions, the phenomenon will open a lot of volatility will increase.
normalization, enough to increase trading volume, such as stock index futures trading volume is very large, the number of shares will increase a lot. trading volume increased after emotional fluctuations caused by the market ironed out, for example, you screwed up, is open the. because you did not affect the amount of the market, enough to deal. Therefore, a number of flat stock volatility, stock volatility is also flat, because the amount of the greater the value the more profit spike situation is relatively small. If the market for us, in the short squeeze, but also in doing more, every day, lose money, you may have to liquidate, not take over the disk, space will be enormous price fluctuations . on this issue have a clear understanding. because of the amount of the initial problems, will increase the volatility index, developed to a certain period after the transaction volume is large enough, but volatility of stock index and stock index futures will be small, because there are hedgers , a little bit of glitches have cross-market arbitrage, increased the degree of transaction frequency and volume, the market volatility to filter out the glitches.
and News Network: Do you mean to say that when the market is more mature, when the market introduction of stock index futures a long time, when the power will be more than speculative hedging power of big?
Zhang satellite: a cross-market arbitrage. because in the futures and spot markets at the same time do the two markets will All the glitches ironed.
and News Network: Since you say that the early introduction of stock index futures volatility is very risky, we worried that the policy-driven volatility, recent market after falling nearly 1,000 points, the policy is a guide fire cable. the last time you talked to a point, the differences between long and short large long and short single confrontation occurred, the amount of more than a single suddenly single down the empty defeated, how do?
Zhang satellites: the risk of stock index futures Investors are not here, the investors risk is limited, regardless of education or not, for the test, we have experienced is a risky stock index futures varieties, so think twice, will consider a variety of risks. Actual stock index futures on the biggest test is the government, because we all know, China is the policy of the city, the city policy is characterized by a new policy will often sudden, intrusive policies introduced, the volatility of stock index, which is a government department management impose the views of stock. It is uncertain .96, the index rose to 1200 points, we are very pleased with the results to the People's Daily editorial, you fried junk stocks to three daily limit. because of speculation the government level, the individual will add to the mix, leading stock index down. In the past, including editorial policies, , click on the index fell to 3400 points. this is the policy imposed.
If there is no stock index futures, these things are not directly related to the particular, say you buy a stock because the government is stuck with a certain policy or three daily limit, there is no significant relationship with the Government. The Government has not said how about the stock. the legal relationship is clear, and some stock in the stock no. so this is an indirect influence, rather than directly. So, we said in the past, said the city policy is not good, but the government is the index to go, is the stock to investors, and are not directly relationship. But with the stock index futures is very horrible, later the policy of the city. For example, if two time points, two warehouse receipts, and empty single for more than a single decisive battle, if the Government a policy decision, this time very troublesome because the introduction of the Government's policy as part of agency decision directly to heaven, part of the body go to hell; part of investors to riches, some investors lose everything. If the policy were introduced, do you dare to put up?
and Information Network: The Government will introduce such a situation? government would realize that such situations do?
Zhang satellite: very blunt way over the past policy of the city, looking up is not pleasing to the eye, and hit it, then drop deep to rescue the market, so only the policy of the city. Now some of tactics is not science. still have some problems. not so much in the stock market, but in the stock index futures will be a problem. At that time, National Development and the beam is not an issue between the nations, in fact, the trend of the Treasury for the Treasury. Health policy decisions of a body to determine a body to die. The question had committed in the future may also make that mistake.
and Information Network: How to avoid this from happening?
Zhang Weixing: policy of the city is characterized by its transparency, the United States has Bolan Ke Greenspan interference in the stock market, including U.S. President George W. Bush also made a speech when the stock market falls, the stock market up there intervention areas. But the transparency of decision-making, for example, when the Fed met the market knows, and one or two months prior to the market to know that can be analyzed from a cut in interest rates or interest rates. According to economic data, sitting in all the decision makers at their previous comments, their views, we can know the results of this meeting is to raise interest rates or interest rates or not cut interest rates. The meeting of basic transparency. This will come out ahead of all expectations reflected in the financial markets, the rise of rise, the fall down, so in general no major controversy.
in China, we do not know when meeting someone in a meeting, what policy would be introduced, which is the biggest problem. I think that China's stock index futures after the introduction of the role of one of the largest increasing transparency in decision-making, because there is no transparency in the decision-making can not play this game go.
and Information Network: No transparency in decision-making, when to advocate the introduction of stock index futures, not to make forerunner to pay you?
Zhang Satellite: China's stock market has grown to today, how many seniors do not pay the price? that there is no way, although the path is cruel, but it is also realistic in the current circumstances the best way, be sure to make people pay a price to pay for the whole community, the investors, the Government of all access to information, to know, should such a market.
and Information Network: If there were that day how to do stock index futures institutions , is not enough margin to do more, there is a bad policy implementation, and quickly to avoid margin calls warehouse explosion.
Zhang Satellite: This is a local problem. big trend right, there are some small trend fluctuation margin approach can be used for protection, but if the big trend wrong, how many bonds to no avail. CAO is such a big problem is not the beginning, the results of the more up more positions, more losses to the greater. if not flesh, cut position, then the CAO will enter into a whole, owe a lot of debt. was at 38 dollars, now close to 100 dollars. If no margin calls, the CAO may 20 are lost into the.
and information networks: the key turning point in the Contracts, if wrong direction, again with a bad policy on the trouble.
Zhang satellites: Some people do more in the short shock of all make money, some people can earn big money, the key trends can not fight.
users: There is no specific stock index futures investment fund?
Zhang Weixing: In the overseas market, the so-called hedge funds are basically futures trading using leverage to do index futures, stocks and this is very normal in the overseas and domestic to invest overseas, I have to use the general feeling of leverage, leverage is not applicable, not much significance to invest overseas.
User : stock index futures is not to do long-term investment? warehouse full of stock index futures can operate?
Zhang satellite: any variety of long-term investments can be done to see if you do not know how to understand trading rules, but stock index futures have delivery deadlines. after the expiration of all The warehouse receipt must be flat out, do not you open, close after the index's closing level for the reference point must be liquidated. rose to 7,000 from 5,000, and I want to do long-term, this process may take a year to the process, may be four open positions, you can switch positions after the finish warehouse receipts, after the Closing Date, in the next period of time, to open a warehouse, then close out this one. so the professionals can do, in the delivery time can do the rollover operation.
warehouse full of discontent is not important. stock index futures are leveraged variety. If you say I only use one tenth of the money to buy, do not need to buy stock index futures, bought Stock on the end. Why should we participate in stock index futures, is to use a small broad feature, the benefits of the use of leverage, the time to seize the opportunity to leverage magnified. important, not sure of your judgments, when operations must not Shigekura . are you sure when, according to your ability to have leverage over the value used 1:3,1:5, or no meaning. If the higher level can be 1:10, as a beginner is concerned, it is best not More than half of positions. my usual suggestion is no more than 1:5 leverage ratio.
and Information Network: is not the need to prepare sufficient margin to cope with the volatility of warehouse receipts?
Zhang Weixing: Actually this is wrong ideas. If you're wrong about the market, how much margin is not enough.
and information networks: quickly open?
Zhang Weixing: Yes. This is to do the characteristics of futures, or to play a big victory, or to play a big defeat, if sticking to, how much money will be a problem filling inside. At that time the State Reserve Bureau 3000 with the short, but by 5000, he has also been margin calls, has been forced to close out the 7000,8000, otherwise the country will lose the even worse. Futures is one such feature, because you added leverage, the wrong will lose.
and information network: End warehouse stock levels return to 5,000 points. if he has insisted is not a sufficient margin can wait until 5000.
Zhang Satellite: This is the problem of multi-party contest. If do not want to expand the war, began to throw in the towel, like that. because still insist on, people will definitely take you only so far to defeat.
and Information Network: shocks when the city should be margin calls, do not wait until it get back all right?
Zhang Weixing: To judge is not the shock city. do futures difficult, challenge is not blind, gambling is now a bear market , bull or shock city. If you are unsure, do not feel that seeking death come to play. If you are a genius, can predict the market soon is the shock, put the bull market, bear market filtered out to approach the city with shock operation. operating without problems, But once the wrong is the bull market, you go short, you say shock city margin, how many will lose the added margin.
and Information Network: is the State Reserve Bureau, for example, must be made up more than a single He will do one up free.
Zhang Weixing: there must be a single transaction, or no meaning. from the perspective of long and short two large main must be like this, you do not play I pull up does not make sense, no rival offer.
and Information Network: the introduction of stock index futures will soon become the first short squeeze of the tool? because the SFC, they require the hedge to do legal institutions, whether or QFII funds or other institutions, they do hedging will be the next empty one, will be down more than a single play, because there are so alone in this long-short inside. Securities Regulatory Commission, they must and can only.
Zhang satellite: this is unlikely situation. I can not participate in stock index futures. If we understand this direction is the same, we are doing more, it will go up, they will not go short, no one traded stock index futures without any risk. stock index futures all risk in the accumulation of long and short on big orders, the risk did not rise, or there is no risk, because no one transaction, you call stock index futures also not making money, because no one bearish, not transactions, see the 7000 from 5000 points also do not earn a penny. some differences, in order to have turnover.
User: T +0 stock index futures trading can be repeated at the time you?
Zhang Weixing: 95% of all short-term futures traders are losing money . I do not know that you are not that 5%, if not, I advise you not to short-term operation.
users: how to set up the stock index futures stop?
Zhang satellite: no rules, only the decision of your financial knowledge Last thing, the so-called stop-loss of 1%, 10% stop loss is nonsense, your investment funds are shrinking fast way out or lost. If you have not played for playing a simulated disk.
and News Network: simulation trading played a lot of people do you think trade is really the simulation?
Zhang Weixing: simulation trading can simulate a lot of things, the only simulation is not your mental, heart, free from any interference because the decision-making is a decision model, if you jumped to all the wealth or not, the heart will beat, all the hormone changes, and that decisions made in your mind will change. This is not all the simulation. financial derivatives and financial derivative investment last characteristic is that you want to bet, you have to really gambling.
and information network: Simulation of 12-month futures reached 12,000 points, someone commented that these people do not cash losses, it does not matter how many points are hit, there is impossible.
Zhang Weixing: Yes. because it is not true. The hardest part is making your heart when the whole body, which is the core emotional.
users: the relationship between futures and spot what of?
Zhang satellite: current spot market in China is the mainstream, because the transaction than the greater, because the people involved in fewer stock index futures, will fluctuate, that is, there will be glitches and bias. Generally speaking, around the index burr itself, and finally to the index will be unified come.
and Information Network: deviation is relatively small?
Zhang Weixing: hard to say.
and News Network: there arbitrage opportunities do?
Zhang satellites: course.
and information network: the larger the proportion of time arbitrage?
Zhang Weixing: stock index futures and spot market in the world do many professional organizations arbitrage opportunities. For example, stock index to 5,000 points, since the special warehouse explosion, or causes to be closed, the price difference of 500 points to 5500 points, you can short selling stock index futures in the spot market to buy ingredients of a stock. This departure from the point of difference is certainly short-lived phenomenon, once the overlap on the same positions, a make money, a money-losing, but losing money in the spread between what you have set the profits. in emerging markets is very much of this carry.
users: the greatest impact on stock index futures What are the factors? Now, some people think that the spot The main impact of market futures market? is that right?
Zhang Weixing: index itself is formed by spot trading, stock index futures is expected to form it. For example the next bull market, stock index to rise, it is now 5000 points will go up after to 7000 points, will deviate from the stock index futures, for example, 5200,5300, 6000 may reach forward again, and then may forward to 7000. This is a bullish bearish.
and Information Network: premium or discount?
Zhang Satellite: Yes. have the appearance of out of stock index futures, stock and stock index is the most important.
users: do good or domestic stock index futures index futures overseas to do good?
Zhang Weixing: H shares, or Hong Kong's Hang Seng Index are stock index futures, stock index futures to do, more zero-sum game, multi-and air-side multi-index futures bet. As investors become more familiar with certain terms of China. Since it is a gamble, might as well bet on China's stock index futures more secure sex. to do in Hong Kong, to explore the laws of the Hong Kong stock market ups and downs, if you do not know, money is likely to go in Ta.
and information network: can not summarize what about the risk of stock index futures in the end? is similar warehouse explosion Risk A?
Zhang Weixing: stock index futures is the high-end variety of financial derivative transactions, friends do not understand Do not touch the stock index futures, stock index futures is based on the risk in the stock, you first need to understand what the risks of the stock ups and downs? What factors have led to the stock market go up or down, you must first learn the stock market is good, good exercise. You have to understand the rise and fall of stock index and risk insurance, contracts, leverage is. must first understand the risk index and the ups and downs where? you If even the ups and downs of stock index and the risk of the relationship are not clear best not to do a stock index futures. If the stock index futures opened earlier, such as opening the 1000, 2000, after opening, it may long be dead, because the bulls that will rise to 3000 anti-air, then shorting the stock index futures will die, because you think the stock market has risen to the top, so to sell the stock, we have the stock market, there are short, to bring this tied up, you go do other stocks. If you do stock index futures, there will be 80%, 90% of the short one, will die. If you press the lever, then 1:10, up 10% of the positions will burst, and now rose to 5,000 points from 3,000 points, enough to burst positions 10 times the.
and Information Network: a higher level can be summarized from the significance of stock index futures. There are two people say that after the introduction of stock index futures, can solve the stock market bubble, the unilateral change in the stock market bull market mechanism. outside of China can take in the international market (the stock market, financial markets, derivatives) of the pricing, do you think the stock index futures do have such a big role?
Zhang satellite: this exaggerated, all of China's stock prices and institutional investors in China pricing, in the game, that another job to sell, to buy low. China's trading volume of all stocks in China itself, the absolute pricing in China. QFII and the proportion of foreign investment is relatively small, affect our ups and downs, but not enough to definitely affect China's stock market The ups and downs trend. No matter is not on stock index futures, pricing power in our own hands, because this is our own species. Second, we tend to easily give it to the new product itself does not have the function and the halo, which are not significance. these claims did not exist. stock index futures is the high end of the financial products to meet a number of institutional investors, investment demand and speculative demand, both institutional investors to avoid the risk of trading channels, but also to give institutional investors I assume some of the high risk investment channels for high interest.
and telecommunications network: it can change you long unilateral City?
Zhang Weixing: This is impossible.
and Information Network: because they can short ah.
Zhang satellites: the leverage of stock index futures is a zero sum game, only to increase significantly, increase trading volume, not change the trend itself. If you follow the trend of confrontation, you go short, the stock market rose, the more short, the back The greater the energy bulls, can talk to you like the confrontation.'s State Reserve Bureau to place such a measure, that the 3000 short, is not to process all the copper short, the London copper drop down, then it is naive, China's copper all the London copper short, I tell you, the world will come to eat all the funds you copper. This is the trend can not be changed. this concept we first have to clear. stock index futures is greater volatility, the absolute can not change the trend itself.
and Information Network: stock index futures in the futures market is more severe the long side?
Zhang Weixing: Of course. a dream of financial institutions, financial war is something that many people tried to grab this opportunity highly contagious, all resources will transfer over.
and Information Network: Futures war is not often nothing to do with the fundamentals, only has a relationship with the capital side?
Zhang satellite: it is not. parties and air side is money, money is the same, all points are multi-party money and money on the short side. who decided trend is determined by fundamentals, up, multi-win. down the short side to win. < br> and the information network: the State Reserve Bureau to determine the wrong direction, so that loss was caused when?
Zhang Weixing: Yes. This is the CAO at the time, as do 40 of the oil, the more you go short, the more money came in, many people will transfer more money, there are many people involved. If the war formed the war situation has been set, you do not throw in the towel, there will be more people to play booty, to see who wins. This is trends contributed.
and News Network: I hear you ...
Monday, December 27, 2010
JAC Car Secret
JAC Car Secret
If, pursuant to the left Yan'an style of doing things has always been actively and steadily, according to JAC uphold the principle of working sense, the unique > at 11:00 on April 7, 2007, located in Hefei Economic and Technological Development Zone, JAC crowded car production base in mm by the JAC Yan Gang, general manager of passenger car sales led, from all 30 provinces, autonomous regions and municipalities of the 300 several investors nearly 700 people on car production lines JAC intimate contact.
JAC is to participate in the first car dealer investment promotion. Assistant General Manager Zhang Xianhua told participate in promotion of the dealers basically have the brand agency experience, and some have even been in business for several years melee battle.
investment promotion is clearly far more than the size of the company's expected JAC Car Marketing. just hang out online application form lJAC car dealer investment r, 4 月 2 日 on deadline, a total of only 13 days time. 700. even more that he can not imagine that, despite the investment that they have repeatedly stated in the ;, but there is still more than 60 JAC light truck, JAC Refine dealers to participate.
Agent-Benz, BMW, Audi and other brands of the Group of 16 veterans to the . At first, the dealer in an orderly manner for stamping, welding, spray painting process for the three visits. Then they came to assembly plant, in an enclosed by the red line about 30 square meters of person's eyes are red line drawn three JAC sedan.
Despite the upcoming auto show in Shanghai, Jiangsu and Anhui unveiled the first high-class cars already heard, but the site still caused a small stir. Some dealers hard flick of excitement, pulled out his cell phone pictures secretly; forward in the effort by the dealer after the owner, in order to Yidufangrong. red line around the six security personnel clearly felt the pressure of some of them bite the bullet mm to maintain order at the scene.
what it really is a car? it in the market, how many chances of winning? experienced a long period of time up and down on the car cause JAC silence, we have experienced that part of the media exposing the more noise and more mysterious, it is now, a car broke placed before them, and all of its chief selling point seems to be just that: technology JAC, quality management.
Prior to that, these dealers from the three a report on the car deeply felt cause of JAC Group, the attention and confidence: The first passenger car R & D Institute for Capacity Building of the JAC and the passenger car R & D planning 5-year report; Second Division of the passenger cars developed by the supply Report of car supply system; third is to create cars, head of the manufacturing capacity of the JAC.
a result, brought to the front of the JAC sedan clear up, real up. If this promotion as JAC sedan into the practical stage of the cause, then in April 2007 Shanghai auto show more than 60 of the first officially authorized dealer is that they truly enter into his own runway.
confirmed the news, JAC sedan marketing company has set itself the goal this year is 5000-6000. The industry believes that this is a rather cautious targets. In terms of products, the next two years, the JAC sedan 2.0L to 2.4L displacement of the C-Class, 1.0L and 1.3L displacement of the A-class car, a displacement of 1.5L and 1.8L B-class car will be launched in 2008, the total sales volume is expected to reach 70,000 ~ 80,000.
However, this has repairer 40 years of history, always with miracle?
to Make Car
JAC Why make cars? To answer this question, need to step forward, we must first carry out the overall structure of JAC Group, some anatomy.
in the Chinese automotive industry, JAC Group, the sudden emergence of a shocking fact. In an interview, left Yan'an has repeatedly referred to as the JAC by did not enjoy preferential treatment over national policy and funding level of support, has never been the strong support of local financial resources, there has never been a joint venture background, but also located in the industrial developed countries is not central in this context, m, left Yan'an obstinately maintained for 15 consecutive years to create nearly 50% rate of increase.
now, at least, the development of JAC JAC people seem enough to sit back and relax: Since 1990, JAC has a less than one thousand sales, value of several hundred million small businesses, the growth of assets, 13.6 billion, with two listed companies, production and marketing vehicles 176,000, with workers nearly ten thousand people, covering the bus chassis, passenger car, light truck, heavy truck, multi-functional business vehicles and key parts of the comprehensive group.
feel the crisis but left Yan'an hidden in there. He accepted One thing is Japan's Isuzu and Hino learned In 1992, left Japan, Isuzu and Hino to visit the company, br> .1997, as he expected, the Asian financial crisis swept through Southeast Asia, Japan's commercial vehicle business spared. cars done for some time, did not go through and exit, the results became his common major shareholder in the world auto map he just GM's commercial vehicle company, not independent Isuzu, Hino, another commercial vehicle business Toyota were acquired. The person in charge of the > His words and deeds infected with group strategy, Minister of JAC, JAC Chassis AG, Wang Bing, deputy general manager of marketing. ? when our city to build stable after that? when we no longer need to build so many houses when it? what the potential commercial vehicles? can buy three cars, but never would buy three trucks, commercial vehicles and to do this is to do the biggest difference between cars.
The second thing was two years ago a study abroad experience. At the time, left Yan'an Anhui including the business community who accompanied the delegation including the governor of Anhui Province in Spain, Portugal and other countries study. I heard a local car dealership to the position of resident representatives of automobile manufacturers, a dozen people, asked him what the production car? But when left to tell them produces only commercial JAC, and these commercial vehicles have been exported to more than 20 countries and regions, they left disappointed.
do not end there. When the left line of Yan'an inspection tour in Greece, a large number of its agents asked car brand dealers left Yan'an straightforward: large. He has also repeatedly stated in the internal meeting: ; JAC cars squeezed into the ranks of hard reason is that China's car market too much. , you have done enough; second, replacement of private cars in big cities. good product.
course, JAC nearly 50% of 15 consecutive years of rapid growth is an important left Yan'an emboldened to repairer. started to bus chassis, bus chassis a few years time will be the first in the country, continue to maintain nearly 40% market share; JAC light truck sales in the industry for many years ranked second, but if the Foton light truck sales in addition to throwing into the agricultural vehicles and construction machinery, vehicles, JAC light truck should be the industry's first truly I; in the heavy truck industry as a whole dropped by nearly 40% of the background, JAC Gallop launched in 2006, its sales growth rate of 500% year on year; to be proud of JAC Refine MPV, has been ranked the industry before the top three this year, the first 1-3 months and stable industry.
Thus, in the outside world without knowing the circumstances, left Yan'an early September 26, 2004 to officially start the car project. Six months later, JAC submitted to the National Development and Reform Commission report on the production car application.
Unexpectedly, the other is two years, during which the twists and turns left Yan'an own well-being perhaps only the best experience. to the end of 2005, and also handed him an application report JAC Chongqing Lifan Group, to get the car Zhunsheng Zheng smooth. For JAC's defeat, the industry outcry, the left has to equal the JAC several visits, but no later.
but left Yan'an believe that a piece of paper Zhunsheng Zheng is only a question of time, for which he will be more concentrate on pre-market research, strategic planning and building car products base in terms of cars on 17 January .2007, when the last such JAC to Zhunsheng Zheng, left Yan'an has completed all preparations for car production, its products have been planning to cars after 2010.
what made 4.8 meters long car
wheelbase of 2.7 to 2.8 meters, displacement into 2.0L and 2.4L, colors including Ferrari red, silver and black and many, if matched with a similar five-pointed star The JAC passenger logo m which is at the Shanghai auto show debut of the three portraits of JAC sedan.
This is only the first listed JAC sedan look, but how they are designed, how it is developed, how they create the is a more important issue. Zuo Yan'an three answers given were concept.
this, you can further refine the JAC Car: molds in Tokyo, Japan; by the JAC and the famous Italian car design company to design the shape; and originator of the engine developed in cooperation with AVL, the world's leading level series engine; after adjusting top international companies, including tuned chassis hh
exterior, the JAC cars match Koito of Japan joint venture company in the domestic production of lamps; and the Lear Group, a joint co-production of electrical and electronic ; Johnson joint venture with U.S. co-production chair; joint venture with Visteon dashboard mm is produced in the market, this is about race cars and Geluyinghao start as early as April 10, 2006 on the adoption of a national impact test.
left Yan'an most telling example of the idea of a repairer is used in the coating process is water-based paint or oil paint, JAC is no consensus within the management m the former is a world-class technology, Mercedes-Benz, Toyota used before, but that the JAC uses water-based paint in private institute also need to match the other process, the investment too risky.
stalemate on the occasion, ran to the left to find the authority of expert advice in Yan'an, when aware of the brightness of water-based paint , hardness and gloss is higher than oil paint, while the volatile water-based paint was 30%, while 70% of oil paint, he resolutely chose the water-based paint, the choice to the JAC put in more than 3,000 million yuan, while filling the appearance of the product quality, environmental protection stand to look at the world leading position.
R & D car before the car left the two types of serious study, a is the China Brilliance, Chery Eastar the other is left on Both the performance and marketing products in the market particularly interested in the process. After changing for the better, and manufacturers dare to sell, but consumers have not bought this grade can choose mm models too much, why spend thousands of dollars less bear the greater risk of using it mm JAC sedan should learn this lesson.
JAC sedan is starting from a high start, made after the repairer who is now regarded as axiomatic the idea is not new product launches. the future, the left or to Yan'an's strategy is clearly aimed at small displacement. talking about market segments, about a suitable location is right, but when the small-displacement vehicles to enter the home when the positioning can not be too stressed. has special? it for what customers? no feature is most significant feature of this car, it was selling big.
car regardless of make or making low-emission high-class cars, the He is short, and avoid weaknesses level of performance almost foreign brands, but the price is much lower compared with other domestic truck brands, performance level and price and to conquer on a chip. This principle applies equally to JAC sedan.
Where is the money where < br> It is said that car fight is different: one is the R & D strength, the other is financial strength. For these questions, sit in key task is to build large-scale R & D system, we now have R & D staff of nearly 1,000 people, is expected to reach 1,500 in 2010 to 2,000. be so written. Four homes, , JAC R & D system which is the central nervous system.
The second step is the layout of overseas .2005 and 2006, respectively, left Yan'an in Turin, Italy and Tokyo, Japan incorporated the two R & D institutions, the former is mainly focused on modeling, The latter emphasis on internal and external decoration. This is the entire R & D system to contact JAC ties and bridges.
domestic Combination its third step. At present, the JAC has been with the Tongji University, Hefei Industrial University, Huazhong University of Science and Technology established substantive cooperation projects, and capital investment. Virginia, Germany, AVL, Japan, China Institute of Technology, AMIN, and a wide range of projects to establish relations of cooperation, but does not involve capital investment.
2007 年 4 month, when the body big chunks of earth excavation, the construction site of a busy scene of m if all goes well, this year in September, where there will be a 19-story building where they stand. led journalists on a tour of the JAC site car sales staff pride, pointing to say, this is the R & D center JAC sedan, investment 600 million yuan, set car product design, modeling, prototype, test as a whole. Yen will be his first as a the introduction of talent, the left Yan'an principle is: resident experts. was in charge of Toyota's North American market to open up the Kanamori Feng Sheng, technical experts, Nissan and Hino Motors Kitazawa technical experts have been stationed in the summer to the village's quality control system JAC sedan and R & D system. A former deputy social Hyundai also been concentrating on production of long over. Automotive Business Review control of the asset liability ratio below 60%. to do the same car, Hyundai's asset-liability ratio is generally above 100%, and high up to 200% or 300%.
JAC A source close to the industry analysts told capital markets are more flexible, whether their investment financing or private placement, JAC, when necessary, in proportion to the internal use of the appropriate allocation of resources.
Chinese New Year, JAC Yan, general manager of marketing cars just to give up the rest. he said, sitting in his study, he is obsessed with the concept of marketing. strictly in charge of car before, he was responsible for JAC Refine the marketing and manufacturing .
date, refine marketing the commercial vehicle industry is also often as a classic marketing case. On this basis, JAC how to introduce new car? left Yan'an's apparent reluctance to copy someone else's pattern, he just said more than once on the strict : product innovation and marketing model the actual situation, or a problem.
should be noted that, JAC Refine cars did not use the existing network. but their market characteristics and objectives of the user location there are differences, we have to respect that law. Who is sure to focus on who will sell to the JAC mm, the two sons are students, no matter which side scales in favor of, and ultimately hurt all of its own.
JAC handed over a fee for this. It is understood that , for some time, JAC has concatenated light truck and heavy truck sales network, but expect to tighten fist does not desire to enhance the quality of implementation of marketing, on the contrary, due to spare no surgery, just harder than that of light can be rewarded card but lost the market. Later, when the JAC people understand this truth, but also the implementation of the light truck and heavy truck sub-network operations, sales both improved significantly.
JAC sedan, but ultimately destined to make business policy issued surprised dealers . in the investment promotion conference, many dealers for the first time in Japan to employ marketing experts from the Feng Sheng Kanamori hear the investment entities, each sales region in accordance with the is salesperson of distribution network business model. Model Second, JAC sedan public commitment, in principle, each select a sales region for the first time investors only; need for additional outlets, under the same conditions, the first priority of investors. JAC Car Zhi Tao, executive vice president of marketing at the company to accept the the return of cash to build stores concept. with other auto companies simply taken to the dealer rebate policy is different, in a sales area, a signed agency agreement with the JAC Group, the investment body within the stipulated time as long as 2 +1 Cars can be subsidized 60% of the construction of 4S shop costs; waiting for you to build a 3S shop when JAC car can return built 4S shop costs 20%; wait for you to build a 3S shop when JAC car can return the remaining 20% of the cost of construction 4S shop.
However, if you only build a 3S shop, JAC sedan is to not return, until you build 4S stores, and the acceptance and recognition by manufacturers, JAC 80% of cars on the return construction shop costs;. and then wait for you to build 3S shop, factory and then return the remaining 20% of the cost of building 4S shop.
the selection criteria in the dealer, the JAC car is not very different requirements and other manufacturers: One is to have a professional management team; Second is the construction of shop area to set standards and requirements; third is to have the appropriate start-up capital.
Maybe you could not quite believe, JAC 50 Car Marketing Company staff in place just before the 20 days. regardless of where point of view, this is definitely a strong team attack. where br> Also in the 20 days ago, every morning 7:50 to 8 pm, at the JAC sedan production base radius of 3, you can see them running on the scene. Zhangxian Hua explained why: body; second is to stimulate the fighting; third is to develop team collaboration. war camp, it is also the market opportunities. If left Yan'an in accordance with the usual style of doing things actively and steadily, according to JAC uphold the principle of working sense, the unique weight
If, pursuant to the left Yan'an style of doing things has always been actively and steadily, according to JAC uphold the principle of working sense, the unique > at 11:00 on April 7, 2007, located in Hefei Economic and Technological Development Zone, JAC crowded car production base in mm by the JAC Yan Gang, general manager of passenger car sales led, from all 30 provinces, autonomous regions and municipalities of the 300 several investors nearly 700 people on car production lines JAC intimate contact.
JAC is to participate in the first car dealer investment promotion. Assistant General Manager Zhang Xianhua told participate in promotion of the dealers basically have the brand agency experience, and some have even been in business for several years melee battle.
investment promotion is clearly far more than the size of the company's expected JAC Car Marketing. just hang out online application form lJAC car dealer investment r, 4 月 2 日 on deadline, a total of only 13 days time. 700. even more that he can not imagine that, despite the investment that they have repeatedly stated in the ;, but there is still more than 60 JAC light truck, JAC Refine dealers to participate.
Agent-Benz, BMW, Audi and other brands of the Group of 16 veterans to the . At first, the dealer in an orderly manner for stamping, welding, spray painting process for the three visits. Then they came to assembly plant, in an enclosed by the red line about 30 square meters of person's eyes are red line drawn three JAC sedan.
Despite the upcoming auto show in Shanghai, Jiangsu and Anhui unveiled the first high-class cars already heard, but the site still caused a small stir. Some dealers hard flick of excitement, pulled out his cell phone pictures secretly; forward in the effort by the dealer after the owner, in order to Yidufangrong. red line around the six security personnel clearly felt the pressure of some of them bite the bullet mm to maintain order at the scene.
what it really is a car? it in the market, how many chances of winning? experienced a long period of time up and down on the car cause JAC silence, we have experienced that part of the media exposing the more noise and more mysterious, it is now, a car broke placed before them, and all of its chief selling point seems to be just that: technology JAC, quality management.
Prior to that, these dealers from the three a report on the car deeply felt cause of JAC Group, the attention and confidence: The first passenger car R & D Institute for Capacity Building of the JAC and the passenger car R & D planning 5-year report; Second Division of the passenger cars developed by the supply Report of car supply system; third is to create cars, head of the manufacturing capacity of the JAC.
a result, brought to the front of the JAC sedan clear up, real up. If this promotion as JAC sedan into the practical stage of the cause, then in April 2007 Shanghai auto show more than 60 of the first officially authorized dealer is that they truly enter into his own runway.
confirmed the news, JAC sedan marketing company has set itself the goal this year is 5000-6000. The industry believes that this is a rather cautious targets. In terms of products, the next two years, the JAC sedan 2.0L to 2.4L displacement of the C-Class, 1.0L and 1.3L displacement of the A-class car, a displacement of 1.5L and 1.8L B-class car will be launched in 2008, the total sales volume is expected to reach 70,000 ~ 80,000.
However, this has repairer 40 years of history, always with miracle?
to Make Car
JAC Why make cars? To answer this question, need to step forward, we must first carry out the overall structure of JAC Group, some anatomy.
in the Chinese automotive industry, JAC Group, the sudden emergence of a shocking fact. In an interview, left Yan'an has repeatedly referred to as the JAC by did not enjoy preferential treatment over national policy and funding level of support, has never been the strong support of local financial resources, there has never been a joint venture background, but also located in the industrial developed countries is not central in this context, m, left Yan'an obstinately maintained for 15 consecutive years to create nearly 50% rate of increase.
now, at least, the development of JAC JAC people seem enough to sit back and relax: Since 1990, JAC has a less than one thousand sales, value of several hundred million small businesses, the growth of assets, 13.6 billion, with two listed companies, production and marketing vehicles 176,000, with workers nearly ten thousand people, covering the bus chassis, passenger car, light truck, heavy truck, multi-functional business vehicles and key parts of the comprehensive group.
feel the crisis but left Yan'an hidden in there. He accepted One thing is Japan's Isuzu and Hino learned In 1992, left Japan, Isuzu and Hino to visit the company, br> .1997, as he expected, the Asian financial crisis swept through Southeast Asia, Japan's commercial vehicle business spared. cars done for some time, did not go through and exit, the results became his common major shareholder in the world auto map he just GM's commercial vehicle company, not independent Isuzu, Hino, another commercial vehicle business Toyota were acquired. The person in charge of the > His words and deeds infected with group strategy, Minister of JAC, JAC Chassis AG, Wang Bing, deputy general manager of marketing. ? when our city to build stable after that? when we no longer need to build so many houses when it? what the potential commercial vehicles? can buy three cars, but never would buy three trucks, commercial vehicles and to do this is to do the biggest difference between cars.
The second thing was two years ago a study abroad experience. At the time, left Yan'an Anhui including the business community who accompanied the delegation including the governor of Anhui Province in Spain, Portugal and other countries study. I heard a local car dealership to the position of resident representatives of automobile manufacturers, a dozen people, asked him what the production car? But when left to tell them produces only commercial JAC, and these commercial vehicles have been exported to more than 20 countries and regions, they left disappointed.
do not end there. When the left line of Yan'an inspection tour in Greece, a large number of its agents asked car brand dealers left Yan'an straightforward: large. He has also repeatedly stated in the internal meeting: ; JAC cars squeezed into the ranks of hard reason is that China's car market too much. , you have done enough; second, replacement of private cars in big cities. good product.
course, JAC nearly 50% of 15 consecutive years of rapid growth is an important left Yan'an emboldened to repairer. started to bus chassis, bus chassis a few years time will be the first in the country, continue to maintain nearly 40% market share; JAC light truck sales in the industry for many years ranked second, but if the Foton light truck sales in addition to throwing into the agricultural vehicles and construction machinery, vehicles, JAC light truck should be the industry's first truly I; in the heavy truck industry as a whole dropped by nearly 40% of the background, JAC Gallop launched in 2006, its sales growth rate of 500% year on year; to be proud of JAC Refine MPV, has been ranked the industry before the top three this year, the first 1-3 months and stable industry.
Thus, in the outside world without knowing the circumstances, left Yan'an early September 26, 2004 to officially start the car project. Six months later, JAC submitted to the National Development and Reform Commission report on the production car application.
Unexpectedly, the other is two years, during which the twists and turns left Yan'an own well-being perhaps only the best experience. to the end of 2005, and also handed him an application report JAC Chongqing Lifan Group, to get the car Zhunsheng Zheng smooth. For JAC's defeat, the industry outcry, the left has to equal the JAC several visits, but no later.
but left Yan'an believe that a piece of paper Zhunsheng Zheng is only a question of time, for which he will be more concentrate on pre-market research, strategic planning and building car products base in terms of cars on 17 January .2007, when the last such JAC to Zhunsheng Zheng, left Yan'an has completed all preparations for car production, its products have been planning to cars after 2010.
what made 4.8 meters long car
wheelbase of 2.7 to 2.8 meters, displacement into 2.0L and 2.4L, colors including Ferrari red, silver and black and many, if matched with a similar five-pointed star The JAC passenger logo m which is at the Shanghai auto show debut of the three portraits of JAC sedan.
This is only the first listed JAC sedan look, but how they are designed, how it is developed, how they create the is a more important issue. Zuo Yan'an three answers given were concept.
this, you can further refine the JAC Car: molds in Tokyo, Japan; by the JAC and the famous Italian car design company to design the shape; and originator of the engine developed in cooperation with AVL, the world's leading level series engine; after adjusting top international companies, including tuned chassis hh
exterior, the JAC cars match Koito of Japan joint venture company in the domestic production of lamps; and the Lear Group, a joint co-production of electrical and electronic ; Johnson joint venture with U.S. co-production chair; joint venture with Visteon dashboard mm is produced in the market, this is about race cars and Geluyinghao start as early as April 10, 2006 on the adoption of a national impact test.
left Yan'an most telling example of the idea of a repairer is used in the coating process is water-based paint or oil paint, JAC is no consensus within the management m the former is a world-class technology, Mercedes-Benz, Toyota used before, but that the JAC uses water-based paint in private institute also need to match the other process, the investment too risky.
stalemate on the occasion, ran to the left to find the authority of expert advice in Yan'an, when aware of the brightness of water-based paint , hardness and gloss is higher than oil paint, while the volatile water-based paint was 30%, while 70% of oil paint, he resolutely chose the water-based paint, the choice to the JAC put in more than 3,000 million yuan, while filling the appearance of the product quality, environmental protection stand to look at the world leading position.
R & D car before the car left the two types of serious study, a is the China Brilliance, Chery Eastar the other is left on Both the performance and marketing products in the market particularly interested in the process. After changing for the better, and manufacturers dare to sell, but consumers have not bought this grade can choose mm models too much, why spend thousands of dollars less bear the greater risk of using it mm JAC sedan should learn this lesson.
JAC sedan is starting from a high start, made after the repairer who is now regarded as axiomatic the idea is not new product launches. the future, the left or to Yan'an's strategy is clearly aimed at small displacement. talking about market segments, about a suitable location is right, but when the small-displacement vehicles to enter the home when the positioning can not be too stressed. has special? it for what customers? no feature is most significant feature of this car, it was selling big.
car regardless of make or making low-emission high-class cars, the He is short, and avoid weaknesses level of performance almost foreign brands, but the price is much lower compared with other domestic truck brands, performance level and price and to conquer on a chip. This principle applies equally to JAC sedan.
Where is the money where < br> It is said that car fight is different: one is the R & D strength, the other is financial strength. For these questions, sit in key task is to build large-scale R & D system, we now have R & D staff of nearly 1,000 people, is expected to reach 1,500 in 2010 to 2,000. be so written. Four homes, , JAC R & D system which is the central nervous system.
The second step is the layout of overseas .2005 and 2006, respectively, left Yan'an in Turin, Italy and Tokyo, Japan incorporated the two R & D institutions, the former is mainly focused on modeling, The latter emphasis on internal and external decoration. This is the entire R & D system to contact JAC ties and bridges.
domestic Combination its third step. At present, the JAC has been with the Tongji University, Hefei Industrial University, Huazhong University of Science and Technology established substantive cooperation projects, and capital investment. Virginia, Germany, AVL, Japan, China Institute of Technology, AMIN, and a wide range of projects to establish relations of cooperation, but does not involve capital investment.
2007 年 4 month, when the body big chunks of earth excavation, the construction site of a busy scene of m if all goes well, this year in September, where there will be a 19-story building where they stand. led journalists on a tour of the JAC site car sales staff pride, pointing to say, this is the R & D center JAC sedan, investment 600 million yuan, set car product design, modeling, prototype, test as a whole. Yen will be his first as a the introduction of talent, the left Yan'an principle is: resident experts. was in charge of Toyota's North American market to open up the Kanamori Feng Sheng, technical experts, Nissan and Hino Motors Kitazawa technical experts have been stationed in the summer to the village's quality control system JAC sedan and R & D system. A former deputy social Hyundai also been concentrating on production of long over. Automotive Business Review control of the asset liability ratio below 60%. to do the same car, Hyundai's asset-liability ratio is generally above 100%, and high up to 200% or 300%.
JAC A source close to the industry analysts told capital markets are more flexible, whether their investment financing or private placement, JAC, when necessary, in proportion to the internal use of the appropriate allocation of resources.
Chinese New Year, JAC Yan, general manager of marketing cars just to give up the rest. he said, sitting in his study, he is obsessed with the concept of marketing. strictly in charge of car before, he was responsible for JAC Refine the marketing and manufacturing .
date, refine marketing the commercial vehicle industry is also often as a classic marketing case. On this basis, JAC how to introduce new car? left Yan'an's apparent reluctance to copy someone else's pattern, he just said more than once on the strict : product innovation and marketing model the actual situation, or a problem.
should be noted that, JAC Refine cars did not use the existing network. but their market characteristics and objectives of the user location there are differences, we have to respect that law. Who is sure to focus on who will sell to the JAC mm, the two sons are students, no matter which side scales in favor of, and ultimately hurt all of its own.
JAC handed over a fee for this. It is understood that , for some time, JAC has concatenated light truck and heavy truck sales network, but expect to tighten fist does not desire to enhance the quality of implementation of marketing, on the contrary, due to spare no surgery, just harder than that of light can be rewarded card but lost the market. Later, when the JAC people understand this truth, but also the implementation of the light truck and heavy truck sub-network operations, sales both improved significantly.
JAC sedan, but ultimately destined to make business policy issued surprised dealers . in the investment promotion conference, many dealers for the first time in Japan to employ marketing experts from the Feng Sheng Kanamori hear the investment entities, each sales region in accordance with the is salesperson of distribution network business model. Model Second, JAC sedan public commitment, in principle, each select a sales region for the first time investors only; need for additional outlets, under the same conditions, the first priority of investors. JAC Car Zhi Tao, executive vice president of marketing at the company to accept the the return of cash to build stores concept. with other auto companies simply taken to the dealer rebate policy is different, in a sales area, a signed agency agreement with the JAC Group, the investment body within the stipulated time as long as 2 +1 Cars can be subsidized 60% of the construction of 4S shop costs; waiting for you to build a 3S shop when JAC car can return built 4S shop costs 20%; wait for you to build a 3S shop when JAC car can return the remaining 20% of the cost of construction 4S shop.
However, if you only build a 3S shop, JAC sedan is to not return, until you build 4S stores, and the acceptance and recognition by manufacturers, JAC 80% of cars on the return construction shop costs;. and then wait for you to build 3S shop, factory and then return the remaining 20% of the cost of building 4S shop.
the selection criteria in the dealer, the JAC car is not very different requirements and other manufacturers: One is to have a professional management team; Second is the construction of shop area to set standards and requirements; third is to have the appropriate start-up capital.
Maybe you could not quite believe, JAC 50 Car Marketing Company staff in place just before the 20 days. regardless of where point of view, this is definitely a strong team attack. where br> Also in the 20 days ago, every morning 7:50 to 8 pm, at the JAC sedan production base radius of 3, you can see them running on the scene. Zhangxian Hua explained why: body; second is to stimulate the fighting; third is to develop team collaboration. war camp, it is also the market opportunities. If left Yan'an in accordance with the usual style of doing things actively and steadily, according to JAC uphold the principle of working sense, the unique weight
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