石景山| 遂平| 成安| 长沙县| 盐边| 广德| 孙吴| 北川| 洪湖| 渑池| 下花园| 龙岗| 乌审旗| 化州| 华亭| 潞西| 瑞昌| 随州| 沿滩| 叶城| 孙吴| 玛多| 高陵| 益阳| 梅河口| 孟连| 峨边| 博鳌| 滦平| 伊川| 阜城| 宁德| 桃源| 吐鲁番| 济宁| 柳河| 乐昌| 鹿泉| 科尔沁右翼前旗| 界首| 惠安| 恩施| 白城| 邵武| 钟祥| 嵩明| 陵水| 陈仓| 商都| 济阳| 银川| 木里| 永春| 长清| 卢龙| 唐海| 乌马河| 兰考| 龙海| 石拐| 万宁| 西乡| 马关| 普陀| 尼玛| 绿春| 会宁| 衡山| 岗巴| 大方| 如皋| 简阳| 诏安| 九江县| 攀枝花| 科尔沁右翼中旗| 遂平| 浙江| 江陵| 聂荣| 射洪| 安远| 和硕| 梁平| 普陀| 肃南| 吐鲁番| 徐水| 鹰潭| 郓城| 永善| 五指山| 乌恰| 蒲县| 剑阁| 德昌| 尚志| 福山| 石河子| 林周| 贞丰| 丰县| 南汇| 五莲| 刚察| 红河| 衡阳县| 珊瑚岛| 成县| 固阳| 富阳| 东兴| 丰南| 壶关| 合作| 无极| 三水| 陆川| 安徽| 乌尔禾| 南部| 北辰| 江达| 札达| 龙岗| 五华| 长葛| 开封县| 新宁| 东辽| 金沙| 衢江| 绍兴市| 阿瓦提| 定西| 翼城| 乌当| 同心| 日喀则| 蒲江| 合作| 图木舒克| 若尔盖| 佳县| 昭觉| 陇川| 垣曲| 白云矿| 米脂| 泰和| 盂县| 高港| 南票| 兴仁| 枝江| 鄂伦春自治旗| 山丹| 永福| 邕宁| 钟山| 阎良| 五寨| 平顶山| 龙泉驿| 綦江| 惠州| 印江| 双江| 茶陵| 上街| 玉田| 福建| 娄底| 榆树| 成县| 工布江达| 顺平| 岳西| 大英| 东海| 富蕴| 嘉鱼| 乐业| 黔江| 舒兰| 清原| 雷山| 吉利| 丰南| 鄱阳| 揭东| 仪陇| 平舆| 钓鱼岛| 阿拉善右旗| 沾化| 黄龙| 宿松| 大足| 尼勒克| 新宾| 巴塘| 宕昌| 桂林| 锦州| 乐亭| 丽水| 建平| 光山| 海林| 桓仁| 崇左| 曲阳| 高阳| 桑日| 德兴| 台安| 高青| 闵行| 彰化| 惠来| 文安| 丹巴| 雷波| 武邑| 昌邑| 大方| 扶余| 惠阳| 鹤岗| 河池| 呼兰| 赤城| 永吉| 陆丰| 洱源| 新野| 康马| 新余| 澧县| 天峨| 大冶| 临城| 平潭| 永吉| 工布江达| 太仆寺旗| 海淀| 莎车| 从化| 弓长岭| 丽水| 晋江| 十堰| 覃塘| 平坝| 江西| 郏县| 黔江| 双阳| 湟源| 宜昌| 安化|

岳华峰勉励办公室支部党员进一步优化服务积

2019-10-16 15:36 来源:百度地图

   岳华峰勉励办公室支部党员进一步优化服务积

  PhototakenonMay3,2018showstheoldtowninQingdao,acoastalcityineastChina,Qingda,thecoastalcitywillhostthe18thsummitoftheShanghaiCooperationOrganization(SCO).(Xinhua/LiZiheng)PhototakenonApril27,2018showsacoral-shapedbridgeinQingdao,acoastalcityineastChina,Qingda,thecoastalcitywillhostthe18thsummitoftheShanghaiCooperationOrganization(SCO).(Xinhua/LiZiheng)PhototakenonApril14,2018showsthenightviewofFushanBayinQingdao,acoastalcityineastChina,Qingda,thecoastalcitywillhostthe18thsummitoftheShanghaiCooperationOrganization(SCO).(Xinhua/GuoXulei)AerialphototakenonMay10,2018showsrailvehiclesproducedbytheCRRCQingdaoSifangCo.,,acoastalcityineastChina,Qingda,thecoastalcitywillhostthe18thsummitoftheShanghaiCooperationOrganization(SCO).(Xinhua/LiZiheng)PhototakenonMay7,2018showsthecentennialstatueofTsingtaoBeerinQingdao,acoastalcityineastChina,Qingda,thecoastalcitywillhostthe18thsummitoftheShanghaiCooperationOrganization(SCO).(Xinhua/LiZiheng)PhototakenonApril19,2018showsthePassiveHouseTechnologyCenterattheSino-GermanEcoparkinQingdao,acoastalcityineastChina,Qingda,thecoastalcitywillhostthe18thsummitoftheShanghaiCooperationOrganization(SCO).(Xinhua/LiZiheng)TouriststoastwithTsingtaoBeerinQingdao,acoastalcityineastChinasShandongProvince,May17,,Qingda,thecoastalcitywillhostthe18thsummitoftheShanghaiCooperationOrganization(SCO).(Xinhua/GuoXulei)Swissfoodgianttoreduceoutput,refocusbusinessinsaturatedmarketSwitzerland-basedfoodandbeveragegiantNestleSAannouncedithassolda95percentstakeinoneofitsChinesedairymanufacturingfacilitiestoalocalplayer,lunbuirLtd,withthe95percentstakeheldbyLonghuaZhongchenEnterpriseManagementConsultingCentre,"Overtheyears,wehavebuiltahealthydairybusinesswithsignificantinvestments,andwe,weareshiftingtoanewbusinessmodelforourHulunbuirdairyfactory,",Nestlewilltakea6percentstakeinNingxiaSaishang,adeepprocessingdairycompanythatproducescreampowder,cheeseandotherdairyproducts,andisbasedinNorthwestChina,,anindependentdairyexpert,saidthemoveindicatesNestlesshiftofinvestmentprioritiesinChina."Nestleisshakingoffasset-heavybusinessesandshiftingtoasset-lightbusinesses,"saidSong."Lowtemperatureyogurt,whichismorelucrative,isacurrentpriorityforNestlesdairybusiness."Themoveisaresultoftheinternationaloversupplyofrawmilk,highinventoriesofrawmilkpowderinChinaandsubsequentprofiterosionforrawmilkpowdermanufacturers,Songsaid."Investmentintherawmilkpowdersectorcomeswithsomerisksandcompaniesneedtobeawareofthem,",NestleHealthSciencesfactoryinTaizhou,Jiangsuprovince,willstartmanufa,CEOofSaishang,,itsprofitsandrevenueareforecasttoreach600millionyuan($)and3billionyuanrespectively.

PeopleareseenontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeoplewalkontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeoplelookdownthecliffthroughtheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeopleposeforphotosontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)AnenthusiastgoesbungeejumpingfromZhangjiajieGrandCanyonsglass-bottombridge,duringachallengeinZhangjiajiescenicspot,centralChinasHunanProvince,May26,,Australia,BritainandothercountriesandregionsparticipatedinthechallengeonSaturday.(Xinhua/YanYuan)AnenthusiastgoesbungeejumpingfromZhangjiajieGrandCanyonsglass-bottombridge,duringachallengeinZhangjiajiescenicspot,centralChinasHunanProvince,May26,,Australia,BritainandothercountriesandregionsparticipatedinthechallengeonSaturday.(Xinhua/YanYuan)AnenthusiastgoesbungeejumpingfromZhangjiajieGrandCanyonsglass-bottombridge,duringachallengeinZhangjiajiescenicspot,centralChinasHunanProvince,May26,,Australia,BritainandothercountriesandregionsparticipatedinthechallengeonSaturday.(Xinhua/ZhouGuoqiang)AnenthusiastgoesbungeejumpingfromZhangjiajieGrandCanyonsglass-bottombridge,duringachallengeinZhangjiajiescenicspot,centralChinasHunanProvince,May26,,Australia,BritainandothercountriesandregionsparticipatedinthechallengeonSaturday.(Xinhua/ZhouGuoqiang)AnenthusiastgoesbungeejumpingfromZhangjiajieGrandCanyonsglass-bottombridge,duringachallengeinZhangjiajiescenicspot,centralChinasHunanProvince,May26,,Australia,BritainandothercountriesandregionsparticipatedinthechallengeonSaturday.(Xinhua/YanYuan)

  English-LanguageNewsWebEditorRequirements::Aminimumofabachelor’sdegreeatanaccreditedcollegeoruniversitywithamajorinjournalism,English,economics,internationalpolitics,,:Haveathoroughunderstandingandappreciationfortheroleofjournalismandaccurate,ftWord,AdobePhotoshop,Dreamweaver,:Previousjoborinternshipexperienceinan:Responsibleforconductingnewsinterviews,andcompiling,editingandrevisingnewsmanuscriptsfromothersourcesforwebsitenews,dupdates,andproducingspecialnewspackages,aswellasothe,:’sdegreeatanaccreditedcollegeoruniversitywithamajorinjournalism,English,economics,internationalpolitics,andaccurate,,:-Thejobisfull-time.-rewritingandcopy-editingstorieswrittenbystaffandfromothermediaresources;-writingoredittingheadlines,readingprovesandcontributingideasinstoryselectionandlayoutandsoon;-helpingproductionanddevelopmentofothereditorialmaterials,whichincludewritingstories,columns,reviewsandrecordingsThe2018MCMLondonComicConisheldinLondonfromMay25toMay27,attractinglotsofcomicfanswithfantasticfashion.(Photo/Agencies)The2018MCMLondonComicConisheldinLondonfromMay25toMay27,attractinglotsofcomicfanswithfantasticfashion.(Photo/Agencies)The2018MCMLondonComicConisheldinLondonfromMay25toMay27,attractinglotsofcomicfanswithfantasticfashion.(Photo/Agencies)The2018MCMLondonComicConisheldinLondonfromMay25toMay27,attractinglotsofcomicfanswithfantasticfashion.(Photo/Agencies)The2018MCMLondonComicConisheldinLondonfromMay25toMay27,attractinglotsofcomicfanswithfantasticfashion.(Photo/Agencies)The2018MCMLondonComicConisheldinLondonfromMay25toMay27,attractinglotsofcomicfanswithfantasticfashion.(Photo/Agencies)

  PeopleareseenontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeoplewalkontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeoplelookdownthecliffthroughtheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)PeopleposeforphotosontheLingyunduglasstrestleintheXuedouMountaininNingboCity,eastChinasZhejiangProvince,May26,(Xinhua/ZhangPeijian)Thefour-month-oldfemalegiantpandacub,borntomotherLiangLiangandfatherXingXing,ondisplaytothepublicforthefirsttimeattheNationalZooinKualaLumpur,Malaysia,May26,2018.(Photo/Xinhua)Thefour-month-oldfemalegiantpandacub,borntomotherLiangLiangandfatherXingXing,ondisplaytothepublicforthefirsttimeattheNationalZooinKualaLumpur,Malaysia,May26,2018.(Photo/Xinhua)Thefour-month-oldfemalegiantpandacub,borntomotherLiangLiangandfatherXingXing,ondisplaytothepublicforthefirsttimeattheNationalZooinKualaLumpur,Malaysia,May26,2018.(Photo/Xinhua)Thefour-month-oldfemalegiantpandacub,borntomotherLiangLiangandfatherXingXing,ondisplaytothepublicforthefirsttimeattheNationalZooinKualaLumpur,Malaysia,May26,2018.(Photo/Xinhua)Thefour-month-oldfemalegiantpandacub,borntomotherLiangLiangandfatherXingXing,ondisplaytothepublicforthefirsttimeattheNationalZooinKualaLumpur,Malaysia,May26,2018.(Photo/Xinhua)

A40-yearoldLisuwomanandherdaughterleaveavillagewithaziplineacrosstheNujiangRiverinNujiangLisuAutonomousPrefectureinSouthwestChina’(Photo/VCG)AfamilyisreadytoziptheirwaybacktoavillageaftershoppingatamarketinNujiangLisuAutonomousPrefectureinSouthwestChina’(Photo/VCG)VillagersareseencrossingtheriverwithaziplineinavillageinNujiangLisuAutonomousPrefectureinSouthwestChina’(Photo/VCG)VillagechildrenplaywithaziplinecableinNujiangLisuAutonomousPrefectureinSouthwestChina’(Photo/VCG)

  English-LanguageNewsWebEditorRequirements::Aminimumofabachelor’sdegreeatanaccreditedcollegeoruniversitywithamajorinjournalism,English,economics,internationalpolitics,,:Haveathoroughunderstandingandappreciationfortheroleofjournalismandaccurate,ftWord,AdobePhotoshop,Dreamweaver,:Previousjoborinternshipexperienceinan:Responsibleforconductingnewsinterviews,andcompiling,editingandrevisingnewsmanuscriptsfromothersourcesforwebsitenews,dupdates,andproducingspecialnewspackages,aswellasothe,:’sdegreeatanaccreditedcollegeoruniversitywithamajorinjournalism,English,economics,internationalpolitics,andaccurate,,:-Thejobisfull-time.-rewritingandcopy-editingstorieswrittenbystaffandfromothermediaresources;-writingoredittingheadlines,readingprovesandcontributingideasinstoryselectionandlayoutandsoon;-helpingproductionanddevelopmentofothereditorialmaterials,whichincludewritingstories,columns,reviewsandrecordings

  (ECNS)--Chinasnewmothervesselforthemanneddeep-searesearchsubmersibleJiaolongwillbenamedShenhaiYihao(),saidDingZhongjun,deputychiefengineerattheNationalDeep-SeaBaseManagementCenter,,whichisundergoingamajormaintenancecheckatthebase,,,tobedeliveredaroundMarch2019,willhaveadisplacementofapproximately4,000tonsandbeabletotravel12,000nauticalmilesperjourney,,HailongandQianlongtogetherforcoordinatedoperations,,Jiaolongreacheditsdeepestdepthof7,,JiaolonghasbeenbackattheNationalDeep-SeaBaseforrepairsandupgradesmainlyrelatedtothreeaspects—underwaterpositioningandsearchcapabilities,terrainmapping,,butafinaldecisionhasnotbeenmade,saidDing,addingthatthepriorityistOneRoadinitiativetocompletetheexploration.  English-LanguageNewsWebEditorRequirements::Aminimumofabachelor’sdegreeatanaccreditedcollegeoruniversitywithamajorinjournalism,English,economics,internationalpolitics,,:Haveathoroughunderstandingandappreciationfortheroleofjournalismandaccurate,ftWord,AdobePhotoshop,Dreamweaver,:Previousjoborinternshipexperienceinan:Responsibleforconductingnewsinterviews,andcompiling,editingandrevisingnewsmanuscriptsfromothersourcesforwebsitenews,dupdates,andproducingspecialnewspackages,aswellasothe,:’sdegreeatanaccreditedcollegeoruniversitywithamajorinjournalism,English,economics,internationalpolitics,andaccurate,,:-Thejobisfull-time.-rewritingandcopy-editingstorieswrittenbystaffandfromothermediaresources;-writingoredittingheadlines,readingprovesandcontributingideasinstoryselectionandlayoutandsoon;-helpingproductionanddevelopmentofothereditorialmaterials,whichincludewritingstories,columns,reviewsandrecordings

  PhototakenwithaninfraredcamerashowsawildgiantpandaintheBaishuiRiverNationalNatureReserveinPengzhouCity,SouthwestChina’,localauthoritieshaveincreasedeffortstoprotectbiodiversity,fightagainstillegalhunting,andimprovethelocalecologicalsystem.(Photo/VCG)PhototakenwithaninfraredcamerashowsawildgiantpandaintheBaishuiRiverNationalNatureReserveinPengzhouCity,SouthwestChina’,localauthoritieshaveincreasedeffortstoprotectbiodiversity,fightagainstillegalhunting,andimprovethelocalecologicalsystem.(Photo/VCG)PhototakenwithaninfraredcamerashowsawildgiantpandaintheBaishuiRiverNationalNatureReserveinPengzhouCity,SouthwestChina’,localauthoritieshaveincreasedeffortstoprotectbiodiversity,fightagainstillegalhunting,andimprovethelocalecologicalsystem.(Photo/VCG)ResearchersworkintheBaishuiRiverNationalNatureReserveinPengzhouCity,SouthwestChina’,localauthoritieshaveincreasedeffortstoprotectbiodiversity,fightagainstillegalhunting,andimprovethelocalecologicalsystem.(Photo/VCG)

  MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)PhototakenonMay22,2018showsexpertsexaminingandverifyinganewhybridricevariety(Chaoyou1000),developedbyYuanLongping’steam,whichhassetanewyieldrecordof1,()offarmlandinatestfieldinSanyaCity,SouthChina’,knownasthe"fatherofhybridrice",andhisteamalsobrokerecordsinanumberofhybridricetestfieldswithChaoyou1000.(Photo:ChinaNewsService/WangXiaobin)PhototakenonMay22,2018showsexpertsexaminingandverifyinganewhybridricevariety(Chaoyou1000),developedbyYuanLongping’steam,whichhassetanewyieldrecordof1,()offarmlandinatestfieldinSanyaCity,SouthChina’,knownasthe"fatherofhybridrice",andhisteamalsobrokerecordsinanumberofhybridricetestfieldswithChaoyou1000.(Photo:ChinaNewsService/WangXiaobin)PhototakenonMay22,2018showsexpertsexaminingandverifyinganewhybridricevariety(Chaoyou1000),developedbyYuanLongping’steam,whichhassetanewyieldrecordof1,()offarmlandinatestfieldinSanyaCity,SouthChina’,knownasthe"fatherofhybridrice",andhisteamalsobrokerecordsinanumberofhybridricetestfieldswithChaoyou1000.(Photo:ChinaNewsService/WangXiaobin)PhototakenonMay22,2018showsexpertsexaminingandverifyinganewhybridricevariety(Chaoyou1000),developedbyYuanLongping’steam,whichhassetanewyieldrecordof1,()offarmlandinatestfieldinSanyaCity,SouthChina’,knownasthe"fatherofhybridrice",andhisteamalsobrokerecordsinanumberofhybridricetestfieldswithChaoyou1000.(Photo:ChinaNewsService/WangXiaobin)

  MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)MembersofthebandHouleDouseperformonslacklinesacrossthe1,400-meter-highcliffsofTianmenMountaininZhangjiajieNationalForestParkincentralChinasHunanprovince,onWednesday,May23,,inashowthatcombinesextremesportswithmusic.(Photo:ChinaNewsService/YangHuafeng)

  AfarmerworksinthefieldinYongfengCounty,eastChinasJiangxiProvince,May21,2018.(Xinhua/LiuHaojun)AfarmerworksinthefieldintheFanchengDistrictofXiangyangCity,centralChinasHubeiProvince,May21,2018.(Xinhua/YangDong)AfarmerworksinthefieldinHongduVillageofYuqingCounty,southwestChinasGuizhouProvince,May21,2018.(Xinhua/HeChunyu)AfarmercheckswheatinthefieldinDongmingVillageofXinleCity,northChinasHebeiProvince,May21,2018.(Xinhua/JiaMinjie)FarmersworkinthefieldsinJinxingVillageofDafangCounty,southwestChinasGuizhouProvince,May21,2018.(Xinhua/LuoDafu)AfarmerworksinthefieldinGuojiawanVillageofYupingDongAutonomousCounty,southwestChinasGuizhouProvince,May21,2018.(Xinhua/HuPanxue)AfarmerharvestswheatinthefieldinZaozhuang,eastChinasShandongProvince,May21,2018.(Xinhua/ZhangQiang)AfarmerworksinthefieldinPingyiCounty,eastChinasShandongProvince,May21,2018.(Xinhua/WuJiquan)AfarmerworksinthefieldinQiliheVillageofZaozhuangCity,eastChinasShandongProvince,May21,2018.(Xinhua/LiZongxian)

  MajorLeagueBaseballandTencentHoldingsLimitedhaveformedanewstrateg,aleadingproviderofcomprehensiveInternetServicesinChina,alsowillsupportandbro,Tencentwilllivestream125gamesincludingMLBJewelEventsonanexclusivebasisinthecountryonTencentPC,,TencentsschedulewilllaunchwithSuperBaseballWeek,fiveconsecutivedaysofgamesfeaturingsomeofbaseballstopstarsincludingMikeTrout,FranciscoLindor,KrisBryant,,TencentwilllivestreamregularseasongamesonWednesday,Thursday,SaturdayandSundayaswellastheAll-StarGamepresentedbyMastercard,T-MobileHomeRunDerby,ncludingMLBBest,MLBVideoClipsandaChineseversionofThisWeekinBaseball."Tencenthascontinuedtocollaboratewiththeworldstopsportsleaguessecuringbroadcastrightsforbasketball,soccer,tennis,wintersports,footballandnowbaseball,"saidTencentVicePresidentCaitlynChen."Inrecentyears,baseballhasdevelopedrapidlyinChina,whichwouldnthappenwithoutMLB,withtheadvantageofTencentsproductionandbroadcasting,refinedoperationalexcellenceandpowerfulsocialplatforms,wewillbringtheattentiontoMLBandbaseballinChinatoanewlevel."Aspartofthebroadalliance,TencentwillworkcloselywiththeleaguetohelpgrowbaseballinChinabysupportingandstreamingMLB,abaseballroadsh,TencentwillbroadcasttheMLBrealityshowPerfectPitch,CollegeLeaguegames,theMLBPlayBall!DiamondCupandotherMLBPlayBall!youthevents."AsMLBcontinuestoexpandtheparticipation,viewingandengagementofbaseballinChina,itiscriticaltopartnerwiththebestorganizationsinthecountrytoformmutuallybeneficialco-operations,"saidJimSmall,MLBVicePresident,AsiaPacific."WearethrilledtoteamwithTencent,thelargestandbestdistributorofdigitals,showsandeventsthatTencentwillstreamwillentertainmillionsofsportsfansinChinaandhelpcontinuetogrowthesport."Tencentwillsup,,TencentwilldevelopandhostanMLBFanClubwherefansacrossChinacandiscuss,debateandcelebrateallaspectsofMajorLeagueBaseball.  PhototakenonMay26,2018showsthebigdatalogooutsidethevenueoftheChinaInternationalBigDataIndustryExpoinGuiyang,capitalofsouthwestChina(Xinhua/OuDongqu)PhototakenonMay26,2018showstheChinaInternationalBigDataIndustryExpoopensinGuiyang,capitalofsouthwestChinasGuizhouProvince.(Xinhua/OuDongqu)PhototakenonMay26,2018showsabillboardofChinaInternationalBigDataIndustryExpoinGuiyang,capitalofsouthwestChina,attractingover40,000participantsfromnearly30countries.(Xinhua/LiuXu)PeoplevisittheInternationalBigDataIndustryExpoinGuiyang,capitalofsouthwestChinasGuizhouProvince,May26,,attractingover40,000participantsfromnearly30countries.(Xinhua/LiuXu)PeoplelookatanunmannedaircraftduringtheInternationalBigDataIndustryExpoinGuiyang,capitalofsouthwestChinasGuizhouProvince,May26,,attractingover40,000participantsfromnearly30countries.(Xinhua/LiuXu)PeoplelookatamodelofChinasFive-hundred-meterApertureSphericalRadioTelescope(FAST),theworldslargestsingle-dishradiotelescope,duringtheInternationalBigDataIndustryExpoinGuiyang,capitalofsouthwestChinasGuizhouProvince,May26,,attractingover40,000participantsfromnearly30countries.(Xinhua/LiuXu)

  

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养老金入市成必然 投资风格大概率效仿社保基金

2019-10-16 09:27:00 中国证券报 分享
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AnarcheologistworksattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)AnarcheologistworksattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)AcoinfromtheTangDynasty(618-907)foundattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)HorseboneswereexcavatedattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)AviewoftheexcavationattheBeitingancientruinsinJimsarCounty,NorthwestChina’builtindifferentperiods,acoinfromtheTangDynasty(618-907),horsebones,armorremainsandotherrelics,mediareportedonMay29.(Photo:ChinaNewsService/MaDejun)

  原标题:200亿养老金初涉A股 投资风格或效法社保基金

  近日,人社部透露,截至3月底,北京、上海、河南、湖北、广西、云南、陕西等7个省(区、市)政府与社保基金理事会签署了委托投资合同,总金额3600亿元,其中的1370亿元资金已经到账并开始投资,其他资金将按合同约定分年、分批到位。

  养老金入市的每一次进展都会牵动市场的 注意力 ,尤其是目前低迷的市场行情下,养老金入市犹如“雪中送炭”,市场也希望借此能够提振A股行情。

  但对于市场人士而言,仅有4万亿体量的养老金部分入市对总市值超50万亿的A股而言,养老金的规模短期来看难以对股市带来整体提振,但把握其投资风格还是有望抓住结构性的投资机会。

  机构:初次资金仅200亿

  结合海外养老金市场的发展历程来看,多元化投资和逐渐放开的限制条件是世界范围内养老 保险 资产配置的主要趋势。

  1、养老金入市成必然

  目前我国养老金的配置领域主要限于 银行 存款和 国债 ,过去五年间年化收益率分别为2.0%、2.5%、2.6%、2.4%、2.9%以及3.1%,从投资收益来看,不仅与上世纪90年代养老改革初设的14%的目标相差甚远,也大幅低于过去10年8%左右的社会平均工资增长率,甚至在扣除物价因素后难以满足资金的保值功能。

  我国养老金入市已成为必然趋势。近年来,国内的有关养老金入市的呼声不断提高,而相关政策却又总是犹抱琵琶半遮面,但毫无疑问的是相关动作一直都是在进行中的,而近期人社部的表态则表明,养老金入市的大幕已正式拉开。

  2、投入规模有限

  基于全球养老金进入权益市场初期的股票配置情况以及国内相关可比机构权益资产的配置比例,考虑到基本养老金对于风险控制和流动性具有更高的要求,从目前国内养老金结存情况来看,扣除 50%的预留支付资金后,能够归集并投资运营的资金规模约有 2 万亿元。预计我国基本养老金的A股总配置比例应该在10%左右,带给市场的增量资金规模上限在2000亿元上下。

  根据《基本养老保险基金投资管理办法》规定,基本养老金投资股票和 股票型基金的比例可以达到30%;从相关可比机构权益资产的配置比例看,全球养老金在初始进入权益市场的90年代初期股票配置比例为13%,社保基金、企业年金和险资的权益资产配置比例在10%-14%之间。

  据此计算,目前到账的1370亿元的资金中,大致会有137亿到191亿左右可以配置于A股。参考可比机构的配置比例,星石投资粗略估计本次进入A股市场的基本养老金规模可能在200亿左右,就规模而言,本次可投入股票市场的养老金规模不算大。

  3、投资风格大概率效仿社保基金

  人社部新闻发言人表示,“养老保险基金是广大退休人员的养命钱,在整个投资运营过程当中,我们将把基金安全放在首位,加强监管,防范投资风险。”

  上述表态也就意味着,收益追求将不是会养老金入市投资的第一要素,控制资金风险才是重中之重。

  对此,中投证券认为,从政策取向以及试点表现来看,养老金入市的投资风格和策略将大概率传承社保基金,对于当前社保基金和企业年金的投资风格的分析将为养老金的投资偏好提供重要参考。

  总体来看,社保基金投资偏向于低估值、优业绩、高分红的中等市值公司股票,而结合行业及配置风格来看,虽然相对保守和低贝塔的稳健投资风格是社保基金的主流配置特色,而传统的周期蓝筹(资源、金融)并没有获得更多的青睐。此外,除医药、 食品饮料 、纺服等 消费行业 外,部分 新兴产业 (如TMT、电子)的投资意愿也较为强烈。

  难以整体带动A股行情

  从美国的养老金入市历程来看,养老金政策的每次进展都能提振股市。美国在1978年401(k)(美国“三支柱”养老金模式中第二支柱养老金计划的典型代表)条款被创设之后,当年股市一路上涨,并达到了阶段性高点,这一过程持续了约半年时间。而在1981年具体规则被追加之后,市场在第二次石油危机的背景下的快速下跌过程中出现了阶段性的企稳。

  1、对市场情绪起安抚作用

  目前,养老金在4万亿元左右,而截至5月2日收盘,A股总市值达57.81万亿元,养老金入市能否复制美国对股市的提振?对A股行情提振具体有多大影响?

  星石投资认为,A股市场近期较为低迷,本次养老金的入市可谓雪中送炭。虽然本养老金初次入市规模不大,可能在200亿左右,但有利于对市场情绪起到安抚作用,循序渐进入市也有望改善A股市场结构,利好股市的长期健康发展。

  对此,深圳一百亿级私募大佬也对中国证券报(公众号:xhszzb)记者表示,1370亿养老金对A股市场影响有限。短期来看,其行情并不会因此有太大利好。

  2、或带动A股风格转换

  养老金入市的本质目的是为了实现资产的保值增值,低风险偏好属性叠加对“赚钱效应”的诉求将使得其风险资产配置节奏与基本面之间的关系更为密切。

  而养老金逐步投入股市运营将对股市的健康发展带来长期利好。一方面,基本养老金的入市有利于改善市场结构,增强市场投资理性程度。美国401(k)计划资金的流入就为美国股市带来了一系列结构上的改变:投资者结构由散户为主逐渐转变为机构投资者主导;资金结构上以长期投资为主,增强市场稳定性和抗灾性。另一方面,基本养老金入市也有望倒逼市场管理监督机制的加快完善。

  中投证券也表示,结合16年以来A股投资者结构的变化,养老金加入股票市场将进一步增强机构投资者的绝对收益性质和低风险偏好属性,助力市场风格由公募和散户主导的风格向“绝对收益特征”切换。

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