Recently, the mayor of Rushan, Weihai, Shandong Province, Gong Bengao (G M 40) has made numerous videos on the Internet to endorse the city with a handsome image and fluent Chinese and English, especially that English version of the video made him instantly "online celebrity". Three samples (ID: sdbaosanyang) found that Miyamoto, 43, graduated from Shanda Weihai Branch and was a native of Weihai. Although he just became the mayor of Rushan City in January this year, this is not the first time that Miyamoto has done this! As early as a month ago, in a live broadcast, in front of more than 5,000 entrepreneurs and investors, he also introduced Rushan at home and abroad in Chinese and English.

　　

　　According to the official notification of Rushan City, this video was invited by the media. The Rushan Municipal Party Committee and the Municipal Government arranged the Deputy Secretary of the Municipal Party Committee and Mayor Miyamoto as promoters to speak for Rushan as the mayor, and promote Rushan at home and abroad through the media in both Chinese and English, which is very rare in the country. Miyamoto Takashi said in fluent English in the video that Rushan is not only the most beautiful beach in the world, rich in wine, but also the hometown of oysters … So many beautiful foods, I can’t help but see them. I have to take the Qingrong City Railway overnight to have a look.

　　This video was sent to Weibo in the early hours of last night, and it became popular on the Internet in less than one day. Some netizens commented that although English is not the best in both writing and pronunciation, it is good to try to communicate in English. Some netizens left a message saying that they had lived in Shandong for 22 years but didn’t know Rushan. Thanks to this video, I like this mayor!

　　On the evening of August 22nd, Bao San learned from the official of Rushan City that Mayor Gong was on a business trip these days and didn’t know that he had become a "online celebrity". Miyamoto Takashi himself is low-key, but he spares no effort to promote the city.

　　It is discovered that this is not the first time that Miyamoto Takashi has endorsed Rushan. As early as one month ago, on July 27th, he introduced Rushan to more than 5,000 entrepreneurs, investors and public welfare people in China Community Thinking Day, and spoke for Rushan at home and abroad through five live broadcast platforms.

　　At the "High-end Forum on the Development of Rushan Oyster Industry" held in January this year, three colleagues in Weihai also witnessed Mayor Gong promoting Rushan Industry in Chinese and English, and many Chinese and foreign guests at the scene stood up and applauded.

　　

　　I noticed that Miyamoto, a 43-year-old native of Weihai, graduated from Shanda Weihai Branch in 1996. In this popular video, he said that he had worked in Los Angeles for three years. This may be one reason why he is so good at promoting his hometown in English.

　　Looking through the resume of official website, the leader of Rushan Municipal Government, I found that after graduating from Miyamoto University, I worked in Weihai Light Industrial Products Import and Export Co., Ltd., Weihai Investment Promotion Center and Weihai International Investment Promotion Center successively. In August 2013, Miyamoto Takashi was transferred from the director of Weihai International Investment Promotion Center to the deputy mayor of Wendeng Municipal Government. In November of the same year, he also served as the director of the preparatory office of Weihai Comprehensive Bonded Zone. In February 2016, he served as deputy director of Weihai Financial Office, and in November of the same year, he was transferred to the post of Deputy Secretary of Rushan Municipal Committee. In January this year, he served as deputy secretary and mayor of Rushan Municipal Committee.

　　

　　Having said that, some people may not know where Rushan is. Rushan belongs to Weihai City, Shandong Province, and is named after the "Darushan" in China. From the map, the city is located in the hinterland of Qingdao, Weihai and Yantai. South of the Yellow Sea, and South Korea, Japan across the sea. After listening to the mayor’s recommendation, do you also want to see how beautiful Rushan is? Please watch the aerial video of Rushan from netizens-take you to the sky and overlook Rushan.

　　

　　After watching the video, I will tell you a good news. Rushan will also pass the high-speed rail! Higher construction standards will be adopted and the top speed will reach 350 kilometers per hour. It will only take more than 2 hours from Jinan to Weihai.

　　(The content of this article is comprehensive. Rushan released the official Weibo, etc. Please indicate the source and reprint all the contents including the QR code.)

　　? ? Click on the title to read.

　　[Secret] The price is more expensive than the list price. 300 yuan, Gome Online was fined 100,000 for price fraud! First raise the price and then discount it into a new routine of e-commerce

　　[Solution] The timetable for the relocation of the Yellow River beach area in Shandong Province was released! 600,000 people in 7 cities and 17 counties such as Jinan Heze benefited!

　　[Rumor] The housing price in Jinan CBD has reached 50,000, and the "54321" housing price pattern has been formed? Not reliable!

　　It takes nearly 60 years for Jiqing to get back by collecting rent! The highest rental return rate in Shandong’s 11 cities is actually Linyi: it only takes 28 years to return to the capital!

　Every sacrifice is immortal ―― On Urumqi’s "1? 2 "Fire Fighting Hero"

　　　 This is the banner of "Heroes Go All the Way" by Urumqi citizens (photo taken on January 7). On January 7, in Urumqi, Xinjiang, "1? 2 "The memorial service for three fire officers and soldiers who died in the fire in Dehui International Plaza was held in Urumqi, and the relatives of three martyrs and nearly 10,000 people from all walks of life in Xinjiang attended the memorial service. Xinhua News Agency reporter Zhao Geshe　
　　　

　　　 Xinhuanet Urumqi, January 8 th (Reporter Yan Huang, Gao Fan)At the beginning of the new year in 2008, a raging fire that raged for more than 60 hours swept away the New Year atmosphere in the north and south of Tianshan Mountain. In the process of putting out this fire, three names will live forever in the fire.

　　　 "Assembly" blew and rushed into the sea of fire.

　　　 At 20 o’clock on the evening of January 2, an emergency fire alarm interrupted the New Year meeting of the First Squadron of Urumqi Fire Brigade. The 33 soldiers of the whole team set off in an instant and rushed to the scene of the fire.

　　　 That night, Zhu Xiaolei, the deputy squadron leader who was on vacation at home, learned of the fire, bid farewell to his parents at home and went straight to the fire. The on-site command center quickly dispatched Zhu Xiaolei, Zhang Yu and Gao Feng to form a rescue commando. At the last moment of rushing into the fire, Zhu Xiaolei did not forget to call his father: "Dad, I signed up for the death squad … I rushed in!" "

　　　 At 22: 20 that night, three people successfully rescued three trapped people from the building. When informed by the headquarters that there were still trapped people in the building, the three men rushed into the building completely covered by black smoke, high temperature and toxic gas for the fourth time.

　　　 The visibility in the building was less than 50 cm, and the three people lost their way. The on-site commander immediately organized rescue after receiving Zhu Xiaolei’s distress signal, but when his comrades found Zhu Xiaolei and Zhang Yu on the sixth floor, they were already unconscious on the ground.

　　　 "Zhu Xiaolei was panting at the time, but he could only exhale and could not inhale. I slapped Zhang Yu’s face to stimulate him to regain consciousness, but he never responded. " Wang Li, a rescuer, said with a trembling voice.

　　　 After Zhu Xiaolei and Zhang Yu were carried out of the building, the passage of the building was completely blocked by fireworks in an instant. In order to avoid more casualties, the on-site command center decided to stop the search and rescue peak.

　　　 When Zhu Xiaolei and Zhang Yu were sent to the ambulance, the comrades wiped their tears with dark hands and put their heads on the window, because they knew in their hearts that this look was probably a farewell.

　　　 On the morning of the 4th, Xinjiang Fire Corps announced that Zhu Xiaolei, the deputy squadron leader of Special Service No.1 Squadron, and Zhang Yu, the trainee platoon leader, were all rescued by the medical department, and died heroically because of smoke poisoning. Gao Feng’s body was also found on the east side of the 6th floor at 14: 00 on the 4th.

　　　 The "post-80s" heroes moved tens of thousands of people in border towns to mourn spontaneously.

　　　 Zhu Xiaolei, Zhang Yu and Gao Feng, three fire-fighting heroes, were all born in the 1980s. Their feats shook the border town in winter. In the past few days, tens of thousands of people of all ethnic groups have spontaneously mourned the heroes of fire fighting.

　　　　On the morning of January 4, thousands of Urumqi citizens spontaneously came to the mourning hall set up in the Second Squadron of the Special Service of the Municipal Fire Brigade to pay their respects at "1? 3 heroes who died in the fire. The mourning hall has been filled with wreaths, and civil servants, taxi drivers, personnel from enterprises and institutions, and affected merchants from Dehui International Plaza have come from Urumqi and nearby cities to mourn the firefighting hero.

　　　 On the morning of the 7th, the cold wind blew in Urumqi, and painful sorrows resounded through the border town. Tens of thousands of people from all ethnic groups gathered in Yanerwo funeral home in Urumqi to bid farewell to the heroes. The main streets of Urumqi, such as Guangming Road and Xinhua Road, are full of sadness and music. Hundreds of cars are wearing white flowers and carrying wreaths and slowly heading for Yanerwo funeral home in the southern suburbs. On both sides of the street, the mourners watched in tears.

　　　 On the square outside Yan ‘erwo Funeral Parlour, the warning lights of fire engines kept flashing, and private cars and taxis of all sizes turned on their lights. Tens of thousands of people stood neatly in the open space of the square, holding up the words "Heroes have a good trip!" "The loveliest people are you!" Waiting for the banner of the eulogy.

　　　 Alamuti, an old man who runs a baking cake shop, wiped his tears and said, "I saw the hearse pass in front of my shop, so I closed the door and rode over." If nothing else, I just want to see the three heroes’ Balangzi’. " After donating 100 yuan to the families of the martyrs, a poorly dressed car mechanic said, "I don’t know what to say. When the heroes are gone, I just want to donate some money to their families to express my heart."

　　　 In Baidu Post Bar, netizens initiated "Let the hero’s spirit be with Tianshan Mountain, and let the hero’s spirit live with the desert forever!" The network martyr memorial service. The spirit of martyrs is spreading, and the love of the people is passing on. People from all walks of life not only spontaneously mourn the martyrs who died, but also donate money and materials to the families of martyrs through various channels. At the memorial service on the 4th and 7th, nearly 10,000 people, including the affected merchants in Dehui International Plaza, donated money to the families of martyrs in various ways.

　　　 Hero, did not leave.

　　　 On the morning of January 3, the fire in Dehui International Plaza in Urumqi was still spreading. Although after more than 10 hours of fighting, the fire in the wholesale market of Lutehui International Plaza in Qiantang River in Urumqi is still spreading, and some floors of Dehui Hotel connected to it have also started to catch fire, and all the people in the hotel have been evacuated safely. At 20 o’clock on the evening of January 2, a fire broke out in Dehui International Plaza in Urumqi. At present, the fire continues to spread, and firefighters at the scene are still struggling to rescue. Xinhua News Agency reporter Faye Wong photo

　　　 On January 5, the first squadron of the special service to which the three martyrs belonged lost their usual atmosphere, and the soldiers all looked dignified. Speaking of the sacrificed comrades, instructor Jiang Shaojie choked several times, and Zheng Jie, a little soldier who just turned 18, burst into tears.

　　　 In the dormitory of three martyrs, their quilts were folded like tofu as usual. The comrades-in-arms pulled the flat sheets again and again. Wang Li, who had been regretting that he could not save the peak, touched the cotton cap of the peak and was silent.

　　　 "Brother is gone, I’ll take the top!" Zhang Shuai, Zhangyu’s younger brother, learned that his brother died in the fire fighting, and vowed with tears to carry on his brother’s legacy and become a fire fighter.

　　　 Lan Can, a political commissar, still clearly remembers Zhu Xiaolei’s meeting on the day he came home from vacation. "I told him to find a daughter-in-law quickly and stop dangling in front of me. He said,’ I will definitely finish the task for you in 2008!’ "Lancan suddenly hid his face and wept:" Did I say something wrong? Tell him to stop dangling … "

　　　 Like the three martyrs, most of the fire officers and soldiers of the first squadron of the Secret Service have no girlfriends. "Can’t, we basically don’t go out, always on standby. Besides, which girl wants to associate with a man who lives and dies almost every day. " A soldier said.

　　　 The dead are gone, and the living still have a long way to go. Wang Li said: "They are lying down, and we will continue to work. Our task has not been completed."

　　　 After saying his word, a shrill alarm suddenly sounded, and Wang Li bounced off the stool like a reflex and rushed out of the door, but the reporters who had not recovered looked at each other. In an instant, the fire truck has rushed out of the gate.

Editor: Feng Ye

　　Huaxi Dushi Bao reporter Li Xiujiang

　　Photography Zhang Lei Someone asked our company to call your number for three months in a row. If you need to cancel it for a fee, please contact the staff and send a red envelope on WeChat … …

　　At noon on August 11th, Master Huang, who was running a taxi in Jiuzhaigou, suddenly received such a short message. He thought it was a scam message and didn’t care. As a result, after half an hour, the sound of the mobile phone never stopped.

　　In the meantime, Master Huang, who was unbearable to be harassed, turned the 100 yuan WeChat red envelope according to the other party’s prompt. Unexpectedly, the mobile phone was quiet for only half an hour and started ringing off the hook, and the other party asked for 200 yuan again. Worried that it was a bottomless pit, as a last resort, Master Huang turned to the operator where the mobile phone number was located and the police for help, and the answer was that there was no way to completely solve the problem.

　　On the one hand, there is endless noise, and on the other hand, there is nothing the supervision can do. In fact, Master Huang’s experience is not a case. Enter the keyword "Call you to death" on the Internet, and there are at least hundreds of similar news reports. The ultimate solution for these victims can only rely on themselves — — Block all strange calls or simply turn it off.

　　Behind this dilemma, there is a hidden status quo: software such as "call you to death" can be downloaded at will on the Internet, and even specialized companies use this kind of software to make profits by helping people "call you to death".

　　A

　　event

　　The brother who received the text message asking for a red envelope ignored it and was entangled in "calling you to death"

　　Master Huang has been running a taxi in Jiuzhaigou for several years, and this is the first time he has encountered such a thing: at noon on the 11th, he just received a guest who wanted to go from Jiuzhaigou to Chengdu. Not long after the car drove, he received a short message from a mobile phone number with a display area of Changsha, Hunan: "Someone asked our company to call your number for three consecutive months. If you need to cancel it for a fee, please contact the staff and send a red envelope on WeChat … …” At the end of the message, there are two WeChat numbers attached.

　　Master Huang thought it was a scam message and didn’t care. Unexpectedly, half an hour later, strange numbers began to call in. Some are strange numbers from other places, while others are unknown. They all hang up after ringing one or two times. Call back, the phone is either unanswered or the number is empty.

　　Master Huang was not too entangled in this because he was in a hurry to drive away. However, on the way from Jiuzhaigou to Chengdu, his mobile phone never stopped, ringing every 2 minutes, and the frequency was very uniform.

　　After 6 o’clock that night, the unbearable Master Huang could only "beg for mercy". He added the other party’s micro-signal according to the SMS prompt. "Who are you? Why do you want to do this? " For Master Huang’s inquiry, the other party did not answer, only said that he would help 100 yuan cancel the call if he wanted a red envelope.

　　After some bargaining, Master Huang first gave the other party a 50 yuan WeChat red envelope, but I didn’t expect the other party to have no room for negotiation at all. In desperation, Master Huang had to turn to 50 yuan again.

　　I thought this problem would be solved, but after half an hour of silence, Master Huang’s cell phone started ringing again. This time, the other person opened his mouth to 200 yuan, and said that no bargaining was allowed, otherwise he would "call you to death" for three consecutive months.

　　In the face of help and alarm

　　Both operators and police feel "headache"

　　Worried that it is a bottomless pit, Master Huang dare not remit money easily. Unbearable, he chose to ask for help from the operator who provided telecommunications services. The staff said that they would give feedback to the technical department, handle it in the background and give a reply within 24 hours. But after 24 hours, Master Huang failed to wait for the other party’s reply.

　　The harassing phone call still didn’t stop. Master Huang contacted the operator again, and the other party told him that there was nothing they could do to harass multiple strange phone numbers or display unknown numbers. The staff suggested that he download some interception software to stop it.

　　But this can’t solve the problem at all. Huang Shi Fu Shuo drives a taxi himself, and there are often strange calls for him, so it’s even more impossible to turn it off. Can continuously harass the phone, so that he can’t drive normally to attract customers.

　　As a last resort, Master Huang chose to call the police. The local police told him that he had received many such reports and had to register first.

　　As of press time, the number of harassing calls on Master Huang’s mobile phone has reached hundreds, and it has not stopped, and the time has exceeded 48 hours.

　　B

　　statement

　　The means to prevent "calling you to death" harassment are limited and it is difficult to intercept it comprehensively.

　　In fact, Master Huang’s experience is not a case. In the past two years, there have been seven or eight readers who have reported similar situations to this newspaper. Enter the keyword "call you to death" on the Internet, and at least hundreds of similar news reports will be searched out. The reporter combed the local media reports and found that in the case of "calling you to death", almost all the answers the victims got from the operators were: the problem could not be completely solved.

　　Mr. Cheng, a technical developer of an information technology company in Chengdu High-tech Zone, told reporters that "calling you to death" is actually an arbitrary dialing software that keeps repeating numbers. In the set time, keep dialing the number of the callee, so that the callee’s phone is busy, and other numbers cannot be dialed until the phone is turned off. Mr. Cheng said, "The incoming number of this kind of software is constantly changing. At present, mobile phones and fixed telephones should be guarded against ‘ Call you to death ’ The software means are extremely limited and cannot be completely intercepted. "

　　Mr. Cheng said that coupled with its concealment and variability, it is difficult for relevant departments to track down the perpetrators.

　　Earlier, some media reported that some experts in information engineering said that in case of "calling you to death" bombing, you can download mobile phone interception software. General interception software can mark harassing calls through big data, which can identify harassing calls faster than manual work and shorten the call time, but it can’t fundamentally prevent incoming calls.

　　C

　　survey

　　"Call you to death" software can be downloaded up to one million times online.

　　Why are more and more users being harassed by "calling you to death"? The reporter launched an investigation.

　　Enter the keyword "Call you to death" on the Internet, and there are many related messages. What is even more unexpected is that this software can be downloaded at will on the Internet, and some of them are accompanied by detailed installation and use instructions.

　　The reporter randomly clicked on the download page of a computer website and found a software called "Fast Phone Call You 2.8". At the bottom of the download link, there is a software introduction: calling your software to death requires the support of networked computers, and you can call numbers such as mobile phones or fixed telephones continuously until the power supply of the other number is exhausted, or it is always busy, so that other lines can’t call in unless the user turns it off by himself. The software also claims to be "the ultimate software for managing small advertisements".

　　After the reporter downloads, he can set the information such as call frequency and duration in the setting column, enter the mobile phone number or fixed phone number at will, and click the "Start Call" button, and the other party’s mobile phone or fixed phone will be continuously bombed. Incredibly, the downloads of this kind of software are amazing. By 5 pm on August 13th, this software had been downloaded more than 30,000 times on this website. According to CCTV’s previous report, the download volume of a software that "calls you to death" is as high as 1.25 million times, and the "praise" is as high as tens of thousands.

　　Corresponding to the download volume, it is a miserable victim. According to Anhui Business Daily, Mr. Xing, a citizen of Hefei, didn’t care when he received a strange text message. He actually received 4003 non-calling numbers in one day, and was called once every 21.6 seconds on average!

　　"Call you to death" is clearly marked online, and only 50 yuan can call for 3 days.

　　In fact, "calling you to death" has already become a complete interest chain. On the Internet, online stores and businesses that provide "call you to death" services can be easily found, and some businesses even openly price their services.

　　The reporter found a WeChat WeChat official account selling such services on the Internet, and the price offered by the other party was not high — — You only need 50 yuan to call any number for 3 days, and 100 yuan for 5 days.

　　After several days of investigation, the reporter found that in addition to free downloads, there are also some websites that sell such software publicly. Enter the words "Call you to death" on the Internet at will, turn over a few pages, and click to enter a computer website, which clearly indicates the price of the purchased product. A set of "call you to death" software, from purchase to activation and upgrade, is all guided online. The price of this kind of software varies according to the length of use. For example, the January version of 100 yuan, the half-year version of 280 yuan, and the lifetime version cost more than 2,200 yuan.

　　D

　　Support

　　Stopping the service of non-real-name telephone or VoIP may solve the problem.

　　Previously, the staff of telecom operators said that it was difficult to intercept "calling you to death", and some information technology experts said that downloading mobile phone interception software could not fundamentally prevent incoming calls. So, how to solve this problem?

　　Lawyer Huang Lei of Beijing Anbo (Chengdu) Law Firm has some research on this kind of cases. He said that in fact, operators can make a difference, and it is not difficult for him to solve this problem. "Telecom operators should strictly implement the real-name registration system, stop the service of non-real-name telephones or networks, so that they can’t call in or call out, which can effectively prevent others from using non-real-name registration system telephones or networks to commit criminal acts." Huang Lei said that once the real-name registration system is strictly implemented, it will be much easier to investigate and deal with it. At the same time, Huang Lei suggested that the telecommunications authorities should strengthen technical research and restrict these network violations from ports.

　　Lawyer’s statement/

　　"Call you to death" operator suspected of extortion

　　The "call you to death" operator’s behavior of asking Master Huang to "give money to eliminate the disaster" through SMS threats has been suspected of extortion. Lawyer Huang Lei said, from texting to voice asking for a red envelope, it is obvious that the operator’s behavior belongs to telephone harassment and forced asking for a red envelope. According to the Criminal Law and other relevant laws and regulations, for the purpose of illegal possession, the victim is forced to ask for public or private property by threatening or threatening. If the amount is large or repeatedly extorted, it is suspected to constitute extortion. The harassed person can report the crime of extortion and be investigated for criminal responsibility according to law.

　　Some lawyers believe that the act of "calling you to death" for private use infringes on others’ right to freedom of communication. Although there is no clear regulation on the use of "calling you to death" software at present, according to Article 42 of the Law on Public Security Administration Punishment, "sending obscene, insulting, threatening or other information for many times to interfere with others’ normal life", if the circumstances are serious, they shall be detained for more than five days and less than ten days, and may also be fined less than 500 yuan.

Text/Zhou Daoxu Director of Financial Security Research Center of Tsinghua University Wudaokou Finance College

Capital market is essentially an information market, and enterprise value is continuously priced in information interaction. When the crisis of public opinion occurs, the sudden change of information environment will trigger the market to re-evaluate the fundamentals of enterprises.

First, the financial transmission mechanism of public opinion shock

The surge in the cost of information verification is the primary transmission channel. When an enterprise is caught in a crisis of public opinion, the market will doubt the authenticity of its information disclosure, and investors need to invest additional resources for due diligence, including consulting financial statements, analyzing industry data, and referring to third-party audit opinions. This extra verification cost will reduce market liquidity and may lead some investors to choose to withdraw from the market because of information asymmetry. At the same time, institutional investors may adjust their investment portfolio to reduce the risk exposure related to the enterprise, thus triggering a further decline in the stock price.

In addition, the intensification of information asymmetry will lead to an increase in the market’s risk premium requirements for enterprises. When faced with information uncertainty, investors often demand higher risk compensation to make up for potential losses. The rise of this risk premium will not only be directly reflected in the decline of the company’s share price, but also affect the financing cost of the company, which will challenge its refinancing ability in the capital market. In extreme cases, enterprises may fall into a liquidity crisis due to the loss of market trust, and even go bankrupt and reorganize.

The dynamic adjustment of credit rating forms the second pressure. In the face of major public opinion crisis, rating agencies usually quickly adjust their credit ratings to reflect the latest market awareness of corporate credit status. However, the adjustment of rating agencies is often characterized by "over-revision", that is, a large downward adjustment in a short period of time to avoid their own reputation risks. This rating adjustment not only affects the debt financing cost of enterprises, but also may trigger a chain reaction in the bond market, leading to sharp fluctuations in bond prices.

The downgrade of credit rating may also trigger the "cross-default" clause in the financial market, that is, some loan or debt agreements of enterprises may stipulate that once the credit rating falls below a certain level, enterprises need to repay debts in advance or provide additional guarantees. This means that enterprises may face sudden cash flow pressure after the public opinion crisis, further aggravating the deterioration of their financial situation. This chain reaction will amplify the market’s concerns about the fundamentals of enterprises, and may even lead enterprises to enter debt restructuring or bankruptcy procedures.

Second, the empirical analysis of typical cases

In April 2020, Luckin Coffee’s self-disclosure of financial fraud caused widespread market panic, which spread to CAR Inc., which belongs to the "Shenzhou Family". Affected by the crisis of investor confidence, CAR Inc.’s share price plummeted by 17.11% on April 8th. The market’s doubts about CAR Inc. focus on the expansion model similar to that of Ruixing, the authenticity of financial data and the joint liability of the major shareholder Lu Zhengyao. At the same time, international rating agencies Standard & Poor’s and Moody’s quickly downgraded CAR Inc.’s credit rating, which further aggravated investors’ panic. This incident shows that in the capital market, the financial transparency and governance structure of enterprises are very important. Once the trust crisis breaks out, it will not only increase the cost of information verification, but also trigger a series of chain reactions such as stock price crash, financing difficulties and credit rating downgrade.

Third, the impact of public opinion risk on different financing channels

1. Bond market

In the bond market, the impact of public opinion risk on credit bonds is particularly significant. For bond investors, the credit status of enterprises is one of the key factors in their decision-making. Negative public opinion events may cause investors to worry about the solvency of enterprises, which in turn will lead to the decline of bond prices and the expansion of credit spreads. For example, after the public opinion of financial fraud or poor management of some enterprises spreads, the credit rating of their bonds may be lowered, which will not only increase the financing cost of enterprises, but also make it more difficult to issue bonds. In addition, public opinion events may also trigger a chain reaction in the bond market, affecting the performance of credit bonds in the whole industry, and even impacting the stability of the bond market.

2. Equity market

In the equity market, public opinion risk will also have a significant impact on the stock price and equity financing cost of enterprises. Investors’ confidence in the enterprise is an important support for the stock price, and negative public opinion may weaken investors’ confidence and lead to a decline in the stock price. At the same time, the cost of equity financing will also rise due to the reassessment of corporate risks by the market. For example, when an enterprise faces public opinion events such as product quality problems or management scandals, investors may demand higher rate of return to compensate for risks, which will directly lead to an increase in the cost of equity financing. In addition, public opinion events may also affect the refinancing ability of enterprises, and may even cause enterprises to lose financing opportunities in the capital market.

3. Bank credit market

Bank credit market is one of the important financing channels for enterprises, and public opinion risk will also have an impact on bank credit. When deciding whether to provide loans to enterprises, banks will comprehensively consider the credit status, operating conditions and market reputation of enterprises. Negative public opinion events may make banks doubt the credit status of enterprises, thus raising the loan interest rate, increasing the collateral requirements or shortening the loan period. For example, when a company has a major negative public opinion, the bank may reassess the loan risk of the company and adopt a more cautious credit policy. This will not only increase the financing cost of enterprises, but also limit the liquidity of enterprises and affect the normal operation of enterprises.

Fourth, the relationship between public opinion risk and corporate governance structure

1. The role of the board of directors

The board of directors of enterprises plays a key role in dealing with the risk of public opinion. An effective board of directors can find and deal with public opinion risks in time and protect the interests and reputation of enterprises. For example, the board of directors can strengthen the supervision of enterprise operation and management by establishing a sound internal supervision mechanism, and discover potential public opinion risk factors in time. In addition, the board of directors can also communicate with investors, the media and the public to convey the positive information of the enterprise and alleviate the impact of the public opinion crisis on the enterprise.

2. Responsibility of management

Management also bears an important responsibility in public opinion risk management. The management needs to report the operating conditions and potential risks of the enterprise to the board of directors in time to ensure that the board of directors can fully understand the public opinion risk of the enterprise. At the same time, the management also needs to formulate and implement effective public opinion management strategies, strengthen the management and control of internal information of enterprises, and prevent the leakage of negative information. In addition, the management also needs to maintain good communication with external stakeholders, respond to market concerns in a timely manner, and maintain the good image of the enterprise. For example, when a public opinion crisis occurs, the management can clarify the truth by releasing accurate information in time, stabilize market expectations, and reduce the impact of public opinion risks on enterprises.

3. The role of internal audit

Internal audit also plays an important role in public opinion risk management. Internal audit can find out the potential risk factors of public opinion through auditing the internal financial and operational activities of the enterprise and report to the management and the board of directors in time. For example, internal audit can audit the authenticity, completeness and accuracy of enterprise financial statements to prevent negative public opinion events such as financial fraud. At the same time, internal audit can also evaluate the effectiveness of the internal control system of enterprises, put forward suggestions for improvement, and enhance the ability of enterprises to resist the risk of public opinion. In addition, internal audit can also participate in the formulation and implementation of enterprise crisis response plans to ensure that enterprises can quickly take effective response measures when public opinion crisis occurs.

V. Interaction between public opinion risk and macroeconomic environment

1. The impact of the economic cycle

The economic cycle has an important influence on the formation and spread of public opinion risk. In the period of economic prosperity, enterprises are in good operating condition, market confidence is high, and the risk of public opinion is relatively low. However, during the economic recession, enterprises are faced with great operating pressure and are prone to various problems, such as financial difficulties and layoffs, which may lead to negative public opinion. At the same time, during the economic recession, some enterprises suffered losses or closed down due to poor management. These negative events caused public concern about the operating conditions of enterprises in the same industry through media reports and network communication, which further aggravated the public opinion risk of the remaining enterprises in the industry. In addition, the change of economic cycle will also affect investors’ risk preference and market confidence, and then affect the impact of public opinion risk on corporate financing costs.

2. The impact of the policy environment

The policy environment also has an important impact on the risk of public opinion. The government’s policy adjustment and regulatory measures may lead to the public opinion risk of enterprises. For example, the strengthening of the government’s environmental protection policy for enterprises may make some highly polluting enterprises face greater operational pressure, which may lead to negative public opinion.

3. The influence of market confidence

Market confidence plays a key role in the interaction between public opinion risk and macroeconomic environment. When the market confidence is insufficient, negative public opinion events may be amplified, which will have a greater impact on the financing cost and market performance of enterprises. For example, in the period of economic instability or market volatility, investors’ confidence in enterprises is relatively fragile, and any negative public opinion may lead to panic selling or financing difficulties. On the contrary, in the case of sufficient market confidence, even if there are some negative public opinions, investors may treat them more rationally and will not easily overreact to enterprises. Therefore, enterprises need to pay close attention to the changes of market confidence and adopt corresponding strategies in public opinion management to reduce the impact of public opinion risk on enterprises.

Sixth, the industry differences of public opinion risk

1. Public opinion sensitivity of different industries

There are significant differences in the sensitivity of different industries to public opinion risk. Some industries are more sensitive to the risk of public opinion because of their business nature and high social concern. For example, in the financial industry, food industry and medical industry, once negative public opinion appears in enterprises in these industries, it may quickly arouse public concern and doubt, which will have a significant impact on the financing cost and market performance of enterprises. Taking the financial industry as an example, the credibility of banks and financial institutions is the key to their survival and development. Any public opinion about financial fraud, poor risk management or poor management may trigger market panic, leading to a sharp drop in stock prices and a sharp rise in financing costs.

2. Transmission mechanism of industry public opinion risk

The risk transmission mechanism of public opinion in different industries is also different. In some industries that are highly dependent on market confidence and public image, such as tourism, hotels and aviation, negative public opinion may directly affect the income and cash flow of enterprises through changes in consumer behavior. For example, when there are security problems or negative public opinions in tourist destinations, consumers may choose other destinations, which will lead to a sharp drop in the income of local tourism enterprises, thus affecting their financing ability and financing cost. In some technology-intensive industries, such as science and technology and Internet industry, public opinion risk may be transmitted by affecting the technological innovation ability and market competitiveness of enterprises. For example, when technology leakage or public opinion of product quality problems occur in technology enterprises, it may lead to their disadvantage in market competition, and then affect their financing environment and financing cost.

VII. Future development trend of public opinion risk

1. The challenge of public opinion risk in the digital age

With the rapid development of digital technology, the spread speed and influence of public opinion risk will be further enhanced. The popularity of social media, network platform and mobile Internet makes information spread more rapidly and widely, and public opinion events can trigger global attention and discussion in a short time. For example, some companies’ inappropriate comments or behaviors posted on social media may quickly trigger public doubts and criticisms, which in turn will affect the financing costs and market performance of enterprises. Therefore, in the digital age, enterprises need to pay more attention to public opinion management, establish a sound public opinion monitoring and early warning mechanism, and timely discover and deal with public opinion risks.

2. The combination of artificial intelligence and public opinion management

The development of artificial intelligence technology provides new means and methods for public opinion management. Through artificial intelligence technology, enterprises can realize real-time monitoring and analysis of massive public opinion data and quickly identify potential public opinion risks. For example, using natural language processing technology, enterprises can analyze the emotion and identify the theme of text data on social media, and find the signs of negative public opinion in time. At the same time, artificial intelligence technology can also help enterprises formulate more accurate public opinion coping strategies, analyze and predict historical public opinion events through machine learning algorithms, and provide decision support for enterprises. For example, some enterprises have developed a public opinion early warning model by using artificial intelligence technology, which can predict the occurrence probability and influence degree of public opinion risk in advance, provide early warning information for enterprises, and help enterprises prepare in advance.

3. Long-term management of public opinion risk

The management of public opinion risk needs to pay attention not only to short-term crisis response, but also to long-term reputation building and risk prevention. Enterprises need to establish a good brand image and social image through continuous reputation management, and enhance public trust and recognition of enterprises. For example, enterprises can enhance their social reputation and public image by actively fulfilling their social responsibilities and strengthening communication and cooperation with stakeholders. At the same time, enterprises need to establish a sound risk management system, incorporate public opinion risk into the overall risk management framework of enterprises, and reduce the impact of public opinion risk on enterprises through institutionalized, standardized and normalized management measures. For example, enterprises can conduct public opinion risk assessment regularly, formulate public opinion management strategies and plans, and establish public opinion response teams and working mechanisms to ensure that they can respond quickly and effectively when public opinion crises occur.

In a word, public opinion risk has become one of the important factors affecting the financing cost of enterprises. Through in-depth analysis of the pricing mechanism, transmission mechanism and management strategy of public opinion risk, enterprises can better cope with public opinion crisis, reduce financing costs and enhance their market competitiveness. In the digital age, the spread speed and influence of public opinion risk will be further enhanced. Enterprises need to pay more attention to public opinion management, establish a sound public opinion early warning and response mechanism, and use new technical means such as artificial intelligence to improve the efficiency and effectiveness of public opinion management. At the same time, enterprises need to pay attention to long-term reputation building and risk prevention, and enhance their anti-risk ability and market competitiveness through continuous efforts. Future research needs to further quantify the elasticity coefficient of public opinion risk in different industries, provide more scientific theoretical support for accurate risk management of enterprises, and promote the scientific, standardized and professional development of public opinion management of enterprises.

This article is published by Tsinghua University Institute of Financial Science and Technology, a columnist of Weiyang.com, and the content belongs to the author’s personal opinion, not the website’s. It is forbidden to reprint it without permission, and offenders will be prosecuted!

Depp joined Hollow Man.

　 　 1905 movie network news Universal Picture’s "Monster Universe" plan is moving forward in an orderly way. A few days ago, the remake of Hollow Man attracted a famous actor to join us. It is reported that Johnny Depp will definitely join the film and play the role of invisible man in the film. In the original film, the invisible man became a killer after being invisible, and there were killers in Depp’s previous screen roles, so this role is more suitable for Depp to interpret.

　 　 The original Hollow Man, filmed in 1933, tells the story of a talented scientist who invented an invisibility reagent that can make people invisible after drinking. Although the effect of the reagent is obvious, unfortunately, the side effects make the scientist become eccentric, and gradually, he becomes an invisible killer. The film depicts the alienation of science and technology to human beings. Although it is exaggerated, the scenes of a large number of invisible people killing people in the film are still chilling. The film has been put on the screen five times. The famous David .S. Goyer once filmed a version in 2007.

The 1933 edition of Invisible Man

　 　 As early as last year, Universal decided to build a "monster universe", hoping to copy the successful experience and bring the famous monsters in the film history such as Dracula, Frankenstein, Frankenstein’s bride, werewolf, invisible man, mummy, and Black Lake Fishman to the big screen. Judging from the progress of the current exposure, the list signed by Universal is big: Tom Cruise just confirmed to join us not long ago, and now Hollow Man has invited Depp to join us. Just from the stunt, this "monster universe" can be described as huge.

　 　 Universal Picture’s Hollow Man will be written by ed solomon, a screenwriter, and the director candidate and release time have not been decided.

　　　　 On August 28th, Beijing time, according to foreign media reports, Conor McGregor, a mixed martial arts athlete, joined the action thriller "Veyron kill array" and made his debut, playing an original role other than himself.

　　The film, starring Jake Gyllenhaal, directed by doug liman and produced by Amazon, will be streamed online. Ji Runhall plays a former UFC fighter who works as a bodyguard in a disorganized hotel in the Florida keys, but soon discovers that everything is not what it seems in this tropical paradise.

　　Billy magnussen, Daniela Melchior, Jimsola Akumello, Lucas Gage, Anthony Bagarozzi (The Tear-Resistant Detective) and Chuck Mundre are also the screenwriters, and filming will begin in the Dominican Republic later this month.

　　In 1989, the original film was directed by Rowdy Herrington and starred by Patrick Swayze, kelly lynch, sam elliott and Ben Gazzara. Dalton, an outstanding and popular bodyguard, moved to a small town in Missouri to help clean up a disorderly bar, exposing the corrupt behavior of local bully businessmen in the process.

　　(Meng Qing)

On May 17th, during the 2022 World Telecommunication and Information Society Day Conference, China Unicom successfully held the launch conference of innovative achievements of 5G application sailing, and jointly released the 5G private network PLUS scene products "5G accompanying private network" and "5G multi-park private network" with industrial partners, and held the unveiling ceremony of the OPENLAB open laboratory of 5G Internet of Things to promote the 5G application sailing.

Liang Baojun, deputy general manager of China Unicom, said in his speech that China Unicom has implemented the "Sailing Action Plan for 5G Applications (2021-2023)" of ten departments including the Ministry of Industry and Information Technology, focusing on the five main businesses of "big connection, big computing, big data, big application and big security", focusing on "building the cornerstone of 5G computing network, promoting 5G wisdom and gathering 5G ecological partners". 1,500 5G industry virtual private network projects and 5,000 5G commercial industry application projects, covering more than 20 sub-sectors such as steel, mining, education, cultural tourism and medical care, and accelerating the 5G integration innovation from pilot demonstration to scale replication.

Take advantage of the situation and gain insight into the "new track" of industrial digital transformation

Wang Zhiqin, vice president of China Information and Communication Research Institute, pointed out in his speech that the new digital infrastructure represented by 5G is driving the continuous upgrading of production methods, lifestyles and service systems, and promoting the continuous deepening of digital transformation in various fields of economy and society. As a new industry information infrastructure, the virtual private network of 5G industry has evolved from 1.0 to 2.0, realizing the evolution of 5G from ToB general network to customized network of thousands of industries. China Unicom has continuously deepened the private network market and continuously introduced innovative products of 5G private network PLUS scenes, which has achieved fruitful results in the digital transformation of 5G empowerment industry.

In order to continuously accelerate the transformation of 5G applications from "model rooms" to "commercial houses", Wang Zhiqin proposed that the first is to formulate a series of standards for 5G industry private networks and build a cross-border integration landing system; The second is to build a cross-border communication platform and build an application ecological cultivation system for the 5G industry; The third is to establish a "model room" for the application of the 5G industry and establish a publicity and promotion system.

Ingenuity forging, gaining momentum to innovate and develop "new kinetic energy"

The 5G private network has become a "new engine" for the technical integration of 5G vertical industries and communication fields and the high-quality development of 5G applications. At this conference, China Unicom, together with ICT Institute, State Grid Shandong Electric Power Company, Guangdong Bureau of Politics and Statistics, FAW Group, Beijing University of Posts and Telecommunications, Huawei and other industrial partners, released the 5G private network PLUS scene products "5G accompanying private network" and "5G multi-park private network".

Concentrate on the strength and win-win situation. 5G application sails the value of "new blue ocean"

Walking alone is fast, and many people travel far. At this conference, China Unicom, together with partners such as ICT Institute, State Grid Shandong Electric Power Company, Huawei and Zhuhai Gree, jointly released the OPENLAB of the 5G Internet of Things, built a joint innovation technology service platform, and accelerated the consolidation of the application technology foundation of the 5G industry.

5G pilot, sail the future. China Unicom is willing to join hands with all parties in the industry to promote the integration of 5G into thousands of industries and create a new blue ocean of digital economy.

It’ s too embarrassing … Although I knew in advance that BYD was going to engage in intelligent driving of the whole car, I really didn’ t expect that it was close to the standard of the whole department. (PS: products under 100,000, this is the second time to start carrying)

Eye of the God 100-Blue Tail Mark-High Speed Pilot

Eye of God 300-Red Tail-City without Map

See for yourself the specific car payment. Careful students have already seen it. Not this time, it should not be, and it is not a succession relationship with up. Students with insider can comment on it, and then I will ask BYD’s classmates and give you an answer.

The growth rate of China market is higher than that of the whole world.

From 2010 to 2020, the market size of China’s pet industry increased from 13.44 billion yuan to 72.73 billion yuan, with a compound annual growth rate of nearly 20%, which is higher than that of the whole world. In 2020, the US pet consumption market accounts for 41.1% of the world, ranking first, and China accounts for 8.1%. The pet raising rate and the annual consumption of a single pet in China are far below the level of developed countries, and there is much room for growth in the future.

Judging from the proportion of pet expenditure in household consumption, in 2014, the difference in the proportion of pet expenditure in household consumption between China and the United States was 3.1 times, and in 2019, the difference dropped to 1.8 times.

1. The average annual compound growth rate of China’s pet industry is nearly 20%, accounting for less than 10% of the global market.

With the development and prosperity of China society, the role of pets is gradually changing — — Cats and dogs are increasingly regarded as indispensable members of the family, rather than simply companion pets. Social media has also promoted pets to become an important part of young people’s lives, and the trend of "raising cats in the cloud" has made owning pets more desirable. Therefore, the pet market has grown rapidly in the past 10 years. In 2020, the pet consumption market in China will be 72.73 billion yuan, up 21.1% year-on-year, and the CAGR will be 18.4% in 10 years.

With the development of economy, the consumption of pets is also increasing. Families in most developed countries regard pets as family members, and the spending on pets is increasing. According to Euromonitor data, in 2020, the global pet market industry scale will be about US$ 138.2 billion, up by 4.4% year-on-year, and the CAGR will be 3.6% in 10 years. Among them, the pet consumption market in China, Japan and the United States accounted for 8.1%, 4.2% and 41.1% of the global market respectively.

2. There is a big gap between China’s pet raising rate and single pet consumption amount and developed countries, and there is huge room for improvement.

In the past decade, the changing population and social structure, as well as the improvement of income and adoption rate, have become the main factors to promote the growth of pet keeping rate in China. Compared with other parts of the world, in 2019, the family pet raising rate in China was only about 17%, far lower than 67% in the United States, 62% in Australia and 44% in the United Kingdom. The pet raising rate in China is far lower than that in developed countries, and there may be several times room for improvement in the future.

Since 2016, the growth rate of China’s single pet consumption has increased year by year, mainly driven by the increase of per capita disposable income and the enhancement of pets’ kinship attributes; In 2020, the annual consumption of a single pet in China will be $59. Compared with other countries, in 2020, the consumption of single pet in Japan and the United States will be $317 and $343, respectively, and the consumption of single pet in China is still lower than that in developed countries.

3. The proportion of pet expenditure in household consumption in China has increased, and the gap with the United States has narrowed.

From 2014 to 2019, the proportion of pet expenditure in household consumption in China increased from 0.16% to 0.29%, and the proportion of pet expenditure in household consumption in the United States in 2019 was 0.52%. In 2014, the difference in the proportion of pet expenditure in household consumption between China and the United States was 3.1 times. In 2019, the difference dropped to 1.8 times.

It can be seen that there is an obvious trend of consumption upgrading in the pet market in China, which accelerates the expansion of the pet market. With the stronger willingness of consumers in China to invest in pets in the future, the pet industry has great development potential.

For more data and analysis, please refer to Forward-looking Industry Research Institute, and at the same time Forward-looking Industry Research Institute provides solutions such as industry, industry declaration, industry investment attraction, IPO fundraising feasibility study and prospectus writing.

Author | Yu Songye Editor | Han Qing

Produced by | Internet circle

Recently, official website, the National Network Information Office, announced the third batch of problematic websites investigated and dealt with according to law in the 2020 "Clear Lang" special action and the special rectification activities of online class platforms. In addition to some live broadcast platforms, Baidu Post Bar is also impressively listed.

The reason why Baidu Post Bar was named this time: "LOLI Bar", "CQY Bar" and other post bars and accounts published pornographic information of underage "Welfare Ji", and sold pornographic selfies, videos and other resources of minors in the name of accompanying play and chatting.

In recent years, Baidu Post Bar has been paid attention to by the public every time, either because of rampant black production or because of malicious speculation, and there are few good things. At the end of September, a malicious phishing post "Brother, our family is rich" in Baidu Post Bar caused widespread discussion on the Internet because of the anxiety of selling bride price, which led a large number of angry netizens to rush into Baidu Post Bar, find the original post and accuse the landlord of being "selfish".

In the end, the incident took a surprising turn, and the posting party saw that the incident was getting worse and worse, so they had to admit that the post was fabricated and apologize to the public, but the poster also stressed that the post could not be deleted because of unknown reasons. The reason why this incident has become a hot topic is that someone has led the way and pointed out that the initiator is "Anti-stress Bar Team 1".

The reason why the incident successfully went out of the circle is unknown, but people can’t help but sigh that Baidu Post Bar, as one of the founders of the Internet community, has fallen to the point where it can only be remembered by maliciously fabricated public opinion events.

At that time, Baidu had money and resources. Even now, it is still a "skinny camel is bigger than a horse". However, Baidu Post Bar has gradually declined and lost its advantage in the community track.

The decline of Baidu Post Bar is not only attributed to the rise of competing products, but also to Baidu’s own strategic problems. Baidu’s attitude towards the light operation and light control of Post Bar makes the high-quality content of Post Bar languish day by day. Baidu Post Bar was born to improve the user’s stickiness, but Baidu seems to have forgotten for a long time that the loss of high-quality content pool will eventually lead to the shrinkage and collapse of the core business-search engine business.

From popularization to minority

Baidu Post Bar, launched in 2003, is a veteran Internet community. The idea of Post Bar came from Baidu CEO Robin Li. At that time, the search engine was considered as a "run-away" product, but Robin Li wanted to break this shackles, so he thought of making an interest community with keywords as the core, so Post Bar was born.

From the end of the 20th century to the first decade of the 21st century, online forums such as Maopu, Tianya and Post Bar jointly created a brilliant BBS era. However, the good times didn’t last long. After 2010, the barbaric growth of the mobile Internet created the rise of Weibo, and the old-fashioned communities that clung to the remnants suffered a huge impact, and Post Bar was no exception, and gradually declined.

The decline of communities such as Post Bar also lies in the high decentralization of these established communities. For example, each netizen’s post can be exposed relatively fairly according to the timeline. However, since its launch, Weibo has continuously highlighted the role of operation, taking the topic of stars and hot events as a gimmick to attract users to join. With the help of stars and hot topics, Weibo has become a new generation of Internet darling.

On the other hand, in the face of the rise of Weibo, Post Bar did not seek mutation, still stuck on its laurels, did not iterate frequently, and never made a big breakthrough in function and operation. A few years later, Zhihu rose. Zhihu, which is problem-oriented, is equivalent to a dimensionality reduction blow to Post Bar, because people will not only search for words but also search for questions on the search engine side, so that when people search for a certain question in Baidu, the more relevant search results are often the questions in Zhihu.

Although Baidu also has its own Q&A product, Baidu knows that it can complement the Post Bar in content, but it is still broken by Zhihu. Zhihu and Weibo are similar, with heavy operation and KOL as the core, so they successfully went out of the circle, further dividing the time and attention of netizens.

In early Zhihu, the invitation system was implemented, and there were many professionals and intellectual groups in various fields, and the atmosphere of seeking knowledge was strong, which laid the community tone of "knowledge first" in Zhihu. Therefore, a large number of outstanding creators were successfully precipitated, forming a differentiated competitive advantage with Baidu Know and Baidu Post Bar.

Post Bar and Baidu know that it is still a straggler, and there is no professional operation and integration of high-quality creator resources, which makes it difficult to form a high-quality content pool and thus it is difficult to retain high-quality users.

In June, 2016, something happened that dealt a further blow to Post Bar, that is, the launch of Weibo Chaohua. Before the introduction of Chaohua in Weibo, Post Bar has always been the main gathering place for fans. Fans can discuss stars in Post Bar, and even support activities can be organized through Post Bar.

Baidu Post Bar, which has a huge groupie user, has no star resources, but there are many stars in Weibo. After Weibo used his own star resources to launch Chaohua, Chaohua quickly became the core base for fans to discuss idols. As a result, a large number of fans have left the post bar.

What makes Baidu Post Bar even more embarrassing is that the bar service team, the core resource of Baidu Post Bar, is also moving closer to Weibo. For example, the most famous post bar "Li Yiba" (Diba) opened its official micro-blog in Weibo.

At present, Diba Guanwei has 1.17 million fans and has played a positive role in many sensitive events. Last August, Diba organized a massive "expedition" activity, which was highly praised by a number of official media. However, the traffic generated by the activities of Diba is not directed to the Post Bar, and it is still Weibo who enjoys the heat bonus.

At present, the hottest posts in Baidu Post Bar are mainly games, animation, digital and sports posts. Games and animation belong to the secondary subculture, while digital and sports are the favorite of straight men, and the diversity of users is relatively poor. Without the resources of stars and high-quality creators, groupies and high-quality users are constantly losing, and the audience of post bars is getting narrower and narrower, gradually sliding from the public to the minority.

Baidu’s mistake

The early post bar can become a phenomenal community product, and Baidu’s traffic blessing is very important. However, the decline of Post Bar is not only due to the rise of competitors, but also due to Baidu’s decision-making mistakes in products and strategies.

Li Yanhong’s continued contempt for the mobile Internet has led Baidu to miss the era of mobile Internet and lose its advantage in the mobile battlefield. When Baidu was aware of it, it had already given away its own traffic.

Baidu had many high-quality post bars in its early years, such as various post bars for postgraduate entrance examination and skill learning, which contained many dry goods and self-study tutorials. However, Baidu, which was weak on the mobile side, lost the favor of users, and people flocked to various learning classes in Weibo. There are also many young people who flock to bilibili to study. With the help of video, a more expressive medium, bilibili has a unique advantage in learning resources.

On the other hand, Baidu’s social strategy has always been to integrate social elements into core products, rather than developing a social product alone. Based on this idea, Baidu Post Bar failed to seize the opportunity of transformation and became a semi-community and semi-social product like Weibo.

In addition to the topic discussion, Baidu Post Bar has another identity, which is the "answer library" of Baidu search engine business. Because Baidu Post Bar is deeply bound to Baidu’s search engine, when users use Baidu to search for keywords, corresponding post bars will appear in the search results, and when users search for multiple keywords or sentences, posts with high relevance will appear in the search results.

Post Bar is born for interest, but for those who have no specific interest and just want to find the answer to the question in Post Bar, Post Bar is still a disposable product with poor user retention rate. However, the identity of "answer library" is not completely without benefits for Post Bar. For people who are not deeply exposed to the Internet, Post Bar located in the front row of Baidu search results is an important way for them to obtain information.

"Last spring, when I was Baidu’s mushroom farming skills, I found a post in the post bar to promote mushroom farming supplies, and the price was a little lower than the market price. Feng Yuqin is a mushroom farmer in the northeast rural area. She shared her experience of being cheated on Baidu Post Bar with "Internet insider". "Later, I added the post owner’s WeChat and bought more than 500 yuan of mushroom farming supplies through WeChat transfer. Later, the courier reminded me that the parcel was collected and the postage was more than 300 yuan. If you refuse, you won’t get your money back, because the seller has blacked out my WeChat, so you have to bite the bullet and pay the postage.

For Baidu Post Bar, there are not a few sinking market users like Feng Yuqin, who make it difficult to distinguish all kinds of information in the post bar. Over time, Baidu Post Bar has become a popular place for some unscrupulous traders.

There is no doubt that the UGC attribute of Post Bar is strong. If it is not re-operated and re-controlled, the community tonality will develop in an uncontrollable direction. Post Bar, however, is a product of Baidu’s "stocking". Post Bar is created by an individual application, and the bar staff has extremely high permission to post it. Baidu’s official operational role has been greatly weakened.

Baidu Post Bar’s official limited regulation of Post Bar has also been criticized as "three views are touching". In the emotional column of Baidu Post Bar, there is a classification of "beauty". Under this category, there are many post bars that cater to the preferences of diaosi groups, such as "black silk bar", "beautiful legs bar", "stunner bar", "connotation map bar" and "student girl bar", and these post bars are undoubtedly hotbeds for black production.

The recent exposure of "LOLI Bar", "CQY Bar" and other post bars selling underage "Welfare Ji" pornographic resources is the tip of the iceberg.

The prevalence of black products also shows that users of Post Bar have great value, but Baidu is "lazy" and has not explored a diversified profit model. For a long time, it has been realized by advertising, membership and selling Post Bar. At the beginning of 2016, the "hemophilia bar" was sold, which once caused Baidu to fall into a major public opinion crisis.

Due to the obvious community attribute, Post Bar is the most dynamic and advantageous product in Baidu’s own content pool, but now it has become Baidu’s "time bomb", and negative news will be exposed every one or two years, hurting Baidu’s vitality. It can be predicted that Baidu’s search business will become increasingly depressed if all kinds of ills of Post Bar are not removed.

Baidu urgently needs high-quality content pool.

As a search engine, Baidu’s nourishment includes its own content and external content, and building its own high-quality content pool is the key to enhance its competitiveness. Around the search engine, Baidu has developed a series of content products to expand Baidu’s content pool, including Baidu Post Bar, Baidu Know, Baidu Experience, Baidu Library, Baidu Encyclopedia and Baijiahao.

Baidu knows that the status quo of Baidu’s experience, like a post bar, has been largely replaced by Zhihu, a professional creator. After cracking down on piracy in China, Baidu’s library will no longer be brilliant. Baidu’s expectation of revitalizing high-quality content is pinned on Baijiahao, the benchmark WeChat WeChat official account.

However, the overall content quality of Baijiahao has been difficult to compete with WeChat WeChat official account. On the one hand, Baijiahao is different from WeChat WeChat official account’s "Hundred Flowers Bloom". Baijiahao is more inclined to recommend short information, and the long and in-depth content is not the main support object of Baijiahao, which hinders the development of high-quality content in Baijiahao to some extent; On the other hand, Baidu has a large user base and a high proportion of sinking users. Due to the influence of recommended algorithms, it is inevitable that low-quality content will prevail; Moreover, Baidu does not have a strong application ecology, which leads to the poor liquidity of Baijiahao, so few high-quality creators regard Baijiahao as the main position of content creation.

Baidu has not made efforts on specialized high-quality content, but this force target is Baidu Encyclopedia. Baidu Encyclopedia started the operation of high-quality content matrix around 2014, and derived content sections such as featured encyclopedia, second encyclopedia and V encyclopedia, and introduced authoritative creators in various fields to output high-quality content. However, the entrance of these high-quality content is deeply hidden and difficult to be found and used by users.

Encyclopedia of science under the classification of characteristic encyclopedias

Baidu’s planning mistakes in the high-quality content pool have caused the loss of users, the decline of word of mouth and the shrinking of core search business. StatCounter statistics show that in 2018, Baidu’s share in the domestic search engine market was 70.3%, and by 2019, this figure fell to 67.09%. The market share of sogou search and Shenma Search is rising steadily.

Sogou, backed by Tencent, launched the WeChat channel in 2014, which opened a huge pool of high-quality content, and launched the Zhihu channel in 2015, which means that sogou search has captured another city in the pool of high-quality content. Users who are increasingly eager for high-quality content are gradually migrating to sogou.

In addition to sogou, a strong rival, all mobile rivals are also eating into Baidu’s search business. The Shenma search created by UC and Ali has thrived under the protection of UC browser; Wechat and today’s headlines also started their own search business, feeding the growth of mobile search business with the application matrix of their own camp as nutrients.

Giants have built their own search businesses, and their confidence comes from their own layout in various content tracks. Wechat Search contains WeChat WeChat official account, video number, applet, Tencent video, WeChat reading, QQ music, JD.COM Mall and other channels, which is enough to support the basic disk of WeChat search; Headline search also integrates the resources of content products such as headline number, micro-headline, Tik Tok, headline question and answer, and has strong strength.

In contrast, Baidu’s content is short-lived. Baidu, which is centered on search engines, does not have a fist-level content product. When competitors are mainly based on their own content pools and supplemented by external content pools, Baidu products represented by Post Bar are gradually declining.

In the face of all kinds of big moves by competitors, such as holding a strong group or integrating the application matrix, if Baidu can’t make great progress in high-quality content, it will eventually lose the throne of the first search engine. If the search engine business loses its advantage, it will not be far from the total collapse of Baidu Empire.

(Feng Yuqin is a pseudonym in the text)