Walking from the east gate of the Central Academy of Fine Arts to its main studio takes less than 30 minutes, but for Li Cheng, a former campus security guard at the academy, the journey has taken almost a decade. The 28-year-old recently received an official offer from the academy in Beijing, nearly 10 years after his first failed application at the country's top arts academy in 2008. During his time as a security guard at the east gate, starting in 2012, he sketched workmates on the night shift in a silent hallway. When it came to the day shift, he would memorize English vocabulary. Li was born in a small mountainous village in Hunan province. At age 4, he started scrawling bananas and watermelons with charcoal under the guidance of his mother, who nurtured his passion for painting. Upon entering middle school, Li was able to continue painting thanks to his art teacher, Peng Dezhi. "It is Peng who persuaded my parents to allow me to pursue my passion for painting," Li said. Peng told him about the Central Academy of Fine Arts, the most coveted art school in China. He applied for the first time in 2008, but was rejected due to his poor academic performance. Li then took on a variety of jobs to make a living, from a food delivery courier and a substitute art teacher in Changsha, capital of Hunan province, to a factory worker in Shenzhen, Guangdong province. However, he got a chance to visit the academy in 2012 and decided that he would never give up his dream of studying there. "I was so thrilled to visit the academy. I thought to myself, 'I must study in this pine place,'" he said. Li applied for a job at the academy and began working as a security guard at the east gate. He started painting again and picked up his brush whenever he took a break. His artwork was seen by some students, who encouraged him to pursue his passion. Li signed up for a training course at a small studio near the campus and went there every day after work. But successive failures in academic performance in 2013 and 2014 left Li feeling his dream was unachievable. However, in 2016, he tried out for a fourth time, starting his academic courses from scratch. Eventually, his hard work paid off. He passed the professional test at the academy, ranking eighth nationwide. "Sitting with classmates 10 years my junior makes me feel like I am recapturing my youth," he said. Wang Keju contributed to this story. A rise in IPOs, expectations of stricter policy and high PE ratio are likely to hurt stocks of small technology companies as both retail and institutional investors in the equity market are increasingly favoring shares in commodity companies. Shares in small companies in IT, biotech and new material sectors that have been in a tailspin of late, are expected to slump further, while coal, steel and nonferrous metal stocks are tipped to coast on the respective companies' brightening business performance. "Investors are chasing stocks of listed companies with low valuations and good performance, and steering clear of stocks hyped up on concepts like 'technology-is-future'," said Zhan Jianwen, senior investment manager at China Investment Securities. The last two years have seen a meltdown of the ChiNext Startup Index, which comprises many small tech stocks. On Friday, the index closed at 1734.07, down 57 percent from its record high of 4,037.96 on June 4, 2015, when the descent from the peak started. Since June 2015, shares of 230 companies on the ChiNext fell more than 50 percent; 43 of them tumbled more than 70 percent; and 10, including well-known Dadong Xintai Electric and Qtone Education, crashed more than 80 percent. Market-people attribute some of that meltdown to fears that financial regulations are likely to get stricter. A potential crackdown on accounting frauds and other illegal practices by listed small technology companies is believed to be imminent. In addition, expectations of an IPO flood, and restrictions to preempt shadowy mergers and acquisitions or M&A aimed at boosting weak shares, have hurt the ChiNext Index, said Fu Jingtao, a market strategist with Shenwan Hongyuan Securities. Regulators have been emphasizing that financial markets should serve the real economy, hinting at the possibility that IPOs will continue and may accelerate. There were 260 IPOs in Shanghai and Shenzhen from January to July 14, more than the annual average of the last five years. In all, they raised 130.63 billion yuan ($19.38 billion), almost equalling the proceeds of last year. Since 2013, the Chinese government has encouraged the development of some emerging sectors. Investors thus came to fancy stocks of companies engaged in fields like online education, online lottery and manufacture of robots. In the first half of 2015, such stocks surged. "However, there are now more stocks with both reasonable valuations and good performance for the investors to choose, making the ChiNext companies with steep valuations not a good choice," said Fu. The fall in M&A's of ChiNext companies meant that investors are no longer expecting M&A-related high growth, more so because in several cases, the acquired companies were subsequently found to be riddled with bad performance, Fu said. In the January-May period, there were an average 10 M&A's per month, a far cry from the record 50 per month. Fu forecast that M&A's will decrease continuously until 2020. "The ChiNext of today, however, should not be seen as a sign of weakness across the emerging sectors. Some of China's best tech companies are listed overseas," Fu said. The price-earnings ratio of ChiNext stocks had peaked around 150 in 2015, exerting a great deal of pressure on the index, said Chen Jiahe, chief analyst of Cinda Securities. That pressure has pushed the average price multiple to around 40 now. It will continue to find its bottom in the coming months, Chen said. In contrast, coal, steel and nonferrous metal stocks have surged for the past several months, gaining momentum since June. The 300 Material Index rose almost 20 percent to 2454.73 on July 21 from 2047.95 on June 2. The index began its ascent early last year, and reached 1642.56 on Feb 5, 2016. The commodity stocks are hot picks for their low PE ratio and companies' good performance, said Chen. "The higher-than-expected 6.9 percent GDP growth in the first half of this year and the central government's firm supply-side reforms like overcapacity reduction have boosted investor confidence." With prices of coal and metals rising, profits of listed companies in those sectors have also kept pace, giving an impetus to their share price rise. For instance, net profit of Ling Yuan Iron & Steel Group increased 608 percent year-on-year in the first half of the year, according to its interim report published on July 22. Its stock, which bottomed out in 2016 at 2.4 yuan, closed at 3.6 yuan in Shanghai on Friday. However, Shenwan's Fu and Cinda's Chen both think that commodity stocks have limited upside potential as the contributory factors are already priced in. "There has been no hot spot recently for the market to chase except the commodity stocks," Chen said, adding that China is already past the period of relying on the development of heavy industry. So, unless there are some positives like higher exports, further economic growth would be difficult, Fu said. Representatives from Truck Alliance and the China National Heavy Duty Truck Group issue business licenses to 24 distributors from across China on July 25. [Photo provided to chinadaily.com.cn] In future, the Guizhou-based company runs a mobile app that will provide services for auto loan applications, truck purchases, commodities transport locations and vehicle sales. Users of the app will be able to order and pay online, and finish purchases at 24 distributors in different cities. With big data technology, users can give feedback to the China National Heavy Duty Truck Group, helping them to adjust and improve the service. The app will also help to match trucks nationwide with commodity owners in need of transport. Follow-up services, such as the sale of electronic toll charge cards for highway transportation and auto finance services, will also be provided through the app. Previous Page 1 2 Next Page "There are many ways of seeing landscape quite as good and none more vivid, in spite of canting dilettanti, than from a railway train." 19th century Scottish author Robert Louis Stevenson's book Thoughts on Walking. Rail travel has always been, and still is, my preferred way to travel. Exactly 30 years ago this week I arrived in China by train on a journey from Glasgow, Scotland to Hong Kong's Hung Hom Station. China was a country I knew little about apart from a few confused preconceptions. It would have been easy to fly to Hong Kong but to appreciate a country, or in this case two continents, overland travel encompasses the geography, of watching Europe slowly give way to Asia, of meeting people and observing how they also physically changed, and learning from people about their countries. That journey was also a life changer. If I had not taken the train, my China story would never have happened - 30 years later this country remains my adopted home! The experiences - incredible! A warm July evening, retreating from the gravelly wastes of Mongolia's Gobi Desert the green eighteen coach train pulled into Erlain, China's border town. A fellow passenger, Mr Li, a journalist with the People's Daily East Berlin office, shook my hand while welcoming me to China. Minutes later we were both under the train watching the wheel bogies being manually swapped for Chinese track gauges, narrower than Mongolian and Russian. Idon’t think that when people grow up, they will become morebroad-minded and can accept everything. Conversely, I think it’s aselecting process, knowing what’s the most important and what’s theleast. And then be a simple man. 722. In the suitcase, the guitar tutor found the tuition by intuition. 723. The watchful snatcher dispatched a batch of combatants to the hatch. 724. The wretched butcher clutched the needle and stitched it clumsily. 725. The peer's queer peering is a sheer sneer. 726. The currency curriculum made the excursionist incur loss of time and money. 727. The stray betrayer arrayed the sprayers on the road. 728. Dust accumulated on the insulated simulator in the desolate lab. 729. The inflated balloon indicates a latent inflation on the plateau. 730. Trivial tributes constitute the attribute of constituent's report. 731. I acutely and resolutely refuted the brutal persecution of mute commuter. 732. This measure may preclude the exclusive agency from selling crucial crude oil. 733. He depicted the condition the man contradicting the verdict. 734. Magnify the magnitude of the magnetism. 735. The deputy chairman of the charity clarified the importance of clarity and purity. 736. The tramp from the tram swamped the ham hamburger with shampoo. 737. According to the pamphlet, the current in the amplifier can be amplified to 3 amperes. 738. Prolong the sponge along the longitude and latitude at an altitude. 739. The conservative man made a reservation in the observatory. 740. The mender recommends me to amend the legend agenda. 741. His comprehensive apprehension about the appendix of the pendulum is obvious. 742. Elevate the eleventh level to relevant height. 743. Thereafter, I adhered to the coherence inherent to the theory. 744. The prophet appropriately appropriated the fund for repairing propeller. 745. I'm baffled why the affiliated man initiated the negotiator into ego. 746. The radiation radius of the radioactive radium radiator in the stadium is variable. 747. Snobbish Knob is doing his hobby in the lobby. 748. The ass bypassed the guard and assassinated the surpassing ambassador in the embassy. 749. The corporate bodies collaborate elaborately on producing vibrating evaporator. 750. The dazzling light from the digital device dizzied me. 751. The extinct exotic bird's feather contains zinc. 752. The smuggler shrugged to the bugler hugging the bug in the tugboat. 753. The vocation advocate found the word "vocal" and "reciprocal" not in the vocabulary. 754. Without my aid I'm afraid the maiden would have been raided. 755. The slim Muslim reached his climax when he found the axis of the galaxy. 756. Bonus is a stimulus for me to study the silicon in the bacon. 757. The categories of the lubricated duplicators are intricate. 758. The wagging wasp grasps the crisp clasp for a gasp. 759. The reconciled reptiles rest on a fragile tile. 什邡钢筋冷挤压连接机什邡钢筋冷挤压连接机陕西钢筋冷挤压连接机焦作钢筋冷挤压连接机Walking from the east gate of the Central Academy of Fine Arts to its main studio takes less than 30 minutes, but for Li Cheng, a former campus security guard at the academy, the journey has taken almost a decade. The 28-year-old recently received an official offer from the academy in Beijing, nearly 10 years after his first failed application at the country's top arts academy in 2008. During his time as a security guard at the east gate, starting in 2012, he sketched workmates on the night shift in a silent hallway. When it came to the day shift, he would memorize English vocabulary. Li was born in a small mountainous village in Hunan province. At age 4, he started scrawling bananas and watermelons with charcoal under the guidance of his mother, who nurtured his passion for painting. Upon entering middle school, Li was able to continue painting thanks to his art teacher, Peng Dezhi. "It is Peng who persuaded my parents to allow me to pursue my passion for painting," Li said. Peng told him about the Central Academy of Fine Arts, the most coveted art school in China. He applied for the first time in 2008, but was rejected due to his poor academic performance. Li then took on a variety of jobs to make a living, from a food delivery courier and a substitute art teacher in Changsha, capital of Hunan province, to a factory worker in Shenzhen, Guangdong province. However, he got a chance to visit the academy in 2012 and decided that he would never give up his dream of studying there. "I was so thrilled to visit the academy. I thought to myself, 'I must study in this pine place,'" he said. Li applied for a job at the academy and began working as a security guard at the east gate. He started painting again and picked up his brush whenever he took a break. His artwork was seen by some students, who encouraged him to pursue his passion. Li signed up for a training course at a small studio near the campus and went there every day after work. But successive failures in academic performance in 2013 and 2014 left Li feeling his dream was unachievable. However, in 2016, he tried out for a fourth time, starting his academic courses from scratch. Eventually, his hard work paid off. He passed the professional test at the academy, ranking eighth nationwide. "Sitting with classmates 10 years my junior makes me feel like I am recapturing my youth," he said. Wang Keju contributed to this story. A rise in IPOs, expectations of stricter policy and high PE ratio are likely to hurt stocks of small technology companies as both retail and institutional investors in the equity market are increasingly favoring shares in commodity companies. Shares in small companies in IT, biotech and new material sectors that have been in a tailspin of late, are expected to slump further, while coal, steel and nonferrous metal stocks are tipped to coast on the respective companies' brightening business performance. "Investors are chasing stocks of listed companies with low valuations and good performance, and steering clear of stocks hyped up on concepts like 'technology-is-future'," said Zhan Jianwen, senior investment manager at China Investment Securities. The last two years have seen a meltdown of the ChiNext Startup Index, which comprises many small tech stocks. On Friday, the index closed at 1734.07, down 57 percent from its record high of 4,037.96 on June 4, 2015, when the descent from the peak started. Since June 2015, shares of 230 companies on the ChiNext fell more than 50 percent; 43 of them tumbled more than 70 percent; and 10, including well-known Dadong Xintai Electric and Qtone Education, crashed more than 80 percent. Market-people attribute some of that meltdown to fears that financial regulations are likely to get stricter. A potential crackdown on accounting frauds and other illegal practices by listed small technology companies is believed to be imminent. In addition, expectations of an IPO flood, and restrictions to preempt shadowy mergers and acquisitions or M&A aimed at boosting weak shares, have hurt the ChiNext Index, said Fu Jingtao, a market strategist with Shenwan Hongyuan Securities. Regulators have been emphasizing that financial markets should serve the real economy, hinting at the possibility that IPOs will continue and may accelerate. There were 260 IPOs in Shanghai and Shenzhen from January to July 14, more than the annual average of the last five years. In all, they raised 130.63 billion yuan ($19.38 billion), almost equalling the proceeds of last year. Since 2013, the Chinese government has encouraged the development of some emerging sectors. Investors thus came to fancy stocks of companies engaged in fields like online education, online lottery and manufacture of robots. In the first half of 2015, such stocks surged. "However, there are now more stocks with both reasonable valuations and good performance for the investors to choose, making the ChiNext companies with steep valuations not a good choice," said Fu. The fall in M&A's of ChiNext companies meant that investors are no longer expecting M&A-related high growth, more so because in several cases, the acquired companies were subsequently found to be riddled with bad performance, Fu said. In the January-May period, there were an average 10 M&A's per month, a far cry from the record 50 per month. Fu forecast that M&A's will decrease continuously until 2020. "The ChiNext of today, however, should not be seen as a sign of weakness across the emerging sectors. Some of China's best tech companies are listed overseas," Fu said. The price-earnings ratio of ChiNext stocks had peaked around 150 in 2015, exerting a great deal of pressure on the index, said Chen Jiahe, chief analyst of Cinda Securities. That pressure has pushed the average price multiple to around 40 now. It will continue to find its bottom in the coming months, Chen said. In contrast, coal, steel and nonferrous metal stocks have surged for the past several months, gaining momentum since June. The 300 Material Index rose almost 20 percent to 2454.73 on July 21 from 2047.95 on June 2. The index began its ascent early last year, and reached 1642.56 on Feb 5, 2016. The commodity stocks are hot picks for their low PE ratio and companies' good performance, said Chen. "The higher-than-expected 6.9 percent GDP growth in the first half of this year and the central government's firm supply-side reforms like overcapacity reduction have boosted investor confidence." With prices of coal and metals rising, profits of listed companies in those sectors have also kept pace, giving an impetus to their share price rise. For instance, net profit of Ling Yuan Iron & Steel Group increased 608 percent year-on-year in the first half of the year, according to its interim report published on July 22. Its stock, which bottomed out in 2016 at 2.4 yuan, closed at 3.6 yuan in Shanghai on Friday. However, Shenwan's Fu and Cinda's Chen both think that commodity stocks have limited upside potential as the contributory factors are already priced in. "There has been no hot spot recently for the market to chase except the commodity stocks," Chen said, adding that China is already past the period of relying on the development of heavy industry. So, unless there are some positives like higher exports, further economic growth would be difficult, Fu said. Representatives from Truck Alliance and the China National Heavy Duty Truck Group issue business licenses to 24 distributors from across China on July 25. [Photo provided to chinadaily.com.cn] In future, the Guizhou-based company runs a mobile app that will provide services for auto loan applications, truck purchases, commodities transport locations and vehicle sales. Users of the app will be able to order and pay online, and finish purchases at 24 distributors in different cities. With big data technology, users can give feedback to the China National Heavy Duty Truck Group, helping them to adjust and improve the service. The app will also help to match trucks nationwide with commodity owners in need of transport. Follow-up services, such as the sale of electronic toll charge cards for highway transportation and auto finance services, will also be provided through the app. Previous Page 1 2 Next Page "There are many ways of seeing landscape quite as good and none more vivid, in spite of canting dilettanti, than from a railway train." 19th century Scottish author Robert Louis Stevenson's book Thoughts on Walking. Rail travel has always been, and still is, my preferred way to travel. Exactly 30 years ago this week I arrived in China by train on a journey from Glasgow, Scotland to Hong Kong's Hung Hom Station. China was a country I knew little about apart from a few confused preconceptions. It would have been easy to fly to Hong Kong but to appreciate a country, or in this case two continents, overland travel encompasses the geography, of watching Europe slowly give way to Asia, of meeting people and observing how they also physically changed, and learning from people about their countries. That journey was also a life changer. If I had not taken the train, my China story would never have happened - 30 years later this country remains my adopted home! The experiences - incredible! A warm July evening, retreating from the gravelly wastes of Mongolia's Gobi Desert the green eighteen coach train pulled into Erlain, China's border town. A fellow passenger, Mr Li, a journalist with the People's Daily East Berlin office, shook my hand while welcoming me to China. Minutes later we were both under the train watching the wheel bogies being manually swapped for Chinese track gauges, narrower than Mongolian and Russian. Idon’t think that when people grow up, they will become morebroad-minded and can accept everything. Conversely, I think it’s aselecting process, knowing what’s the most important and what’s theleast. And then be a simple man. 722. In the suitcase, the guitar tutor found the tuition by intuition. 723. The watchful snatcher dispatched a batch of combatants to the hatch. 724. The wretched butcher clutched the needle and stitched it clumsily. 725. The peer's queer peering is a sheer sneer. 726. The currency curriculum made the excursionist incur loss of time and money. 727. The stray betrayer arrayed the sprayers on the road. 728. Dust accumulated on the insulated simulator in the desolate lab. 729. The inflated balloon indicates a latent inflation on the plateau. 730. Trivial tributes constitute the attribute of constituent's report. 731. I acutely and resolutely refuted the brutal persecution of mute commuter. 732. This measure may preclude the exclusive agency from selling crucial crude oil. 733. He depicted the condition the man contradicting the verdict. 734. Magnify the magnitude of the magnetism. 735. The deputy chairman of the charity clarified the importance of clarity and purity. 736. The tramp from the tram swamped the ham hamburger with shampoo. 737. According to the pamphlet, the current in the amplifier can be amplified to 3 amperes. 738. Prolong the sponge along the longitude and latitude at an altitude. 739. The conservative man made a reservation in the observatory. 740. The mender recommends me to amend the legend agenda. 741. His comprehensive apprehension about the appendix of the pendulum is obvious. 742. Elevate the eleventh level to relevant height. 743. Thereafter, I adhered to the coherence inherent to the theory. 744. The prophet appropriately appropriated the fund for repairing propeller. 745. I'm baffled why the affiliated man initiated the negotiator into ego. 746. The radiation radius of the radioactive radium radiator in the stadium is variable. 747. Snobbish Knob is doing his hobby in the lobby. 748. The ass bypassed the guard and assassinated the surpassing ambassador in the embassy. 749. The corporate bodies collaborate elaborately on producing vibrating evaporator. 750. The dazzling light from the digital device dizzied me. 751. The extinct exotic bird's feather contains zinc. 752. The smuggler shrugged to the bugler hugging the bug in the tugboat. 753. The vocation advocate found the word "vocal" and "reciprocal" not in the vocabulary. 754. Without my aid I'm afraid the maiden would have been raided. 755. The slim Muslim reached his climax when he found the axis of the galaxy. 756. Bonus is a stimulus for me to study the silicon in the bacon. 757. The categories of the lubricated duplicators are intricate. 758. The wagging wasp grasps the crisp clasp for a gasp. 759. The reconciled reptiles rest on a fragile tile.

一、介绍：

钢筋冷挤压机

     建筑带肋钢筋套筒冷挤压连接设备，是将两根需连接的钢筋插入钢筋连接套筒内，并通过冷挤压设备对钢筋套筒进行挤压，使其与钢筋紧紧的结合，将两钢筋连接为一体的设备。建筑带肋钢筋套筒冷挤压连接是钢筋混凝土结构施工中钢筋连接的一项新技术.目前在我国已建和在建的几个大的水电工程三峡水电站、小浪底工程、公伯峡水电站、拉西瓦导流洞中都得到了广泛的运用。

   该设备可挤压连接直径￠16mm--￠40mm规格国标带肋钢筋，2-3级建筑钢筋连接施工。 产品特点：该设备集成了电动超高压液压站、超高压手动换向阀等先进产品、部件，并且在产品易用性方面进行了极大的改进和创新，使该产品具备结构紧凑、使用方便、重量轻、便与移动、操作简单，因而较其它同类产品压接速度快、使用寿命长。经近10年的市场使用验证，已证明该产品性能优良，能在各种恶劣施工环境中高负荷连续使用1.5年以上无故障

二、钢筋套筒冷挤压技术的特点：

1:钢筋套筒冷挤压连接技术施工工艺简单,容易掌握。

2:钢筋套筒冷挤压连接技术施工快,在施工中较传统的焊接方法可以节省大量的时间。

3:钢筋套筒冷挤压连接技术较传统钢筋焊接连接施工可以降低工程成本。

4:钢筋套筒冷挤压连接技术适用于钢筋混凝土结构中钢筋直径为φ16-φ40的带肋钢筋的径向挤压连接。

钢筋冷挤压连接机 JYJ-32/40

   是将待连接钢筋插入挤压套筒中，用挤压钳挤压套筒，使之产生塑性变形与带肋的钢筋表面紧密压合形成的接头。

   优于传统的搭接、焊接技术。具有接头质量稳定可靠，不受环境影响，可全天侯施工，接头抗震性、耐低温性好等优点。

全套设备包括：超高压泵站一台、液压钳一台、压模一副、5米高压油管两根、专用工具一套。

压接尺寸：Φ16-Φ40螺纹钢筋

工作行程：45mm 

最大压力：63MP 

电机功率：4Kw/380V 

整机重量：120Kg 

外形尺寸

油泵: 800×600×800(mm)  

挤压机: 500×170×200(mm)

Walking from the east gate of the Central Academy of Fine Arts to its main studio takes less than 30 minutes, but for Li Cheng, a former campus security guard at the academy, the journey has taken almost a decade. The 28-year-old recently received an official offer from the academy in Beijing, nearly 10 years after his first failed application at the country's top arts academy in 2008. During his time as a security guard at the east gate, starting in 2012, he sketched workmates on the night shift in a silent hallway. When it came to the day shift, he would memorize English vocabulary. Li was born in a small mountainous village in Hunan province. At age 4, he started scrawling bananas and watermelons with charcoal under the guidance of his mother, who nurtured his passion for painting. Upon entering middle school, Li was able to continue painting thanks to his art teacher, Peng Dezhi. "It is Peng who persuaded my parents to allow me to pursue my passion for painting," Li said. Peng told him about the Central Academy of Fine Arts, the most coveted art school in China. He applied for the first time in 2008, but was rejected due to his poor academic performance. Li then took on a variety of jobs to make a living, from a food delivery courier and a substitute art teacher in Changsha, capital of Hunan province, to a factory worker in Shenzhen, Guangdong province. However, he got a chance to visit the academy in 2012 and decided that he would never give up his dream of studying there. "I was so thrilled to visit the academy. I thought to myself, 'I must study in this pine place,'" he said. Li applied for a job at the academy and began working as a security guard at the east gate. He started painting again and picked up his brush whenever he took a break. His artwork was seen by some students, who encouraged him to pursue his passion. Li signed up for a training course at a small studio near the campus and went there every day after work. But successive failures in academic performance in 2013 and 2014 left Li feeling his dream was unachievable. However, in 2016, he tried out for a fourth time, starting his academic courses from scratch. Eventually, his hard work paid off. He passed the professional test at the academy, ranking eighth nationwide. "Sitting with classmates 10 years my junior makes me feel like I am recapturing my youth," he said. Wang Keju contributed to this story. A rise in IPOs, expectations of stricter policy and high PE ratio are likely to hurt stocks of small technology companies as both retail and institutional investors in the equity market are increasingly favoring shares in commodity companies. Shares in small companies in IT, biotech and new material sectors that have been in a tailspin of late, are expected to slump further, while coal, steel and nonferrous metal stocks are tipped to coast on the respective companies' brightening business performance. "Investors are chasing stocks of listed companies with low valuations and good performance, and steering clear of stocks hyped up on concepts like 'technology-is-future'," said Zhan Jianwen, senior investment manager at China Investment Securities. The last two years have seen a meltdown of the ChiNext Startup Index, which comprises many small tech stocks. On Friday, the index closed at 1734.07, down 57 percent from its record high of 4,037.96 on June 4, 2015, when the descent from the peak started. Since June 2015, shares of 230 companies on the ChiNext fell more than 50 percent; 43 of them tumbled more than 70 percent; and 10, including well-known Dadong Xintai Electric and Qtone Education, crashed more than 80 percent. Market-people attribute some of that meltdown to fears that financial regulations are likely to get stricter. A potential crackdown on accounting frauds and other illegal practices by listed small technology companies is believed to be imminent. In addition, expectations of an IPO flood, and restrictions to preempt shadowy mergers and acquisitions or M&A aimed at boosting weak shares, have hurt the ChiNext Index, said Fu Jingtao, a market strategist with Shenwan Hongyuan Securities. Regulators have been emphasizing that financial markets should serve the real economy, hinting at the possibility that IPOs will continue and may accelerate. There were 260 IPOs in Shanghai and Shenzhen from January to July 14, more than the annual average of the last five years. In all, they raised 130.63 billion yuan ($19.38 billion), almost equalling the proceeds of last year. Since 2013, the Chinese government has encouraged the development of some emerging sectors. Investors thus came to fancy stocks of companies engaged in fields like online education, online lottery and manufacture of robots. In the first half of 2015, such stocks surged. "However, there are now more stocks with both reasonable valuations and good performance for the investors to choose, making the ChiNext companies with steep valuations not a good choice," said Fu. The fall in M&A's of ChiNext companies meant that investors are no longer expecting M&A-related high growth, more so because in several cases, the acquired companies were subsequently found to be riddled with bad performance, Fu said. In the January-May period, there were an average 10 M&A's per month, a far cry from the record 50 per month. Fu forecast that M&A's will decrease continuously until 2020. "The ChiNext of today, however, should not be seen as a sign of weakness across the emerging sectors. Some of China's best tech companies are listed overseas," Fu said. The price-earnings ratio of ChiNext stocks had peaked around 150 in 2015, exerting a great deal of pressure on the index, said Chen Jiahe, chief analyst of Cinda Securities. That pressure has pushed the average price multiple to around 40 now. It will continue to find its bottom in the coming months, Chen said. In contrast, coal, steel and nonferrous metal stocks have surged for the past several months, gaining momentum since June. The 300 Material Index rose almost 20 percent to 2454.73 on July 21 from 2047.95 on June 2. The index began its ascent early last year, and reached 1642.56 on Feb 5, 2016. The commodity stocks are hot picks for their low PE ratio and companies' good performance, said Chen. "The higher-than-expected 6.9 percent GDP growth in the first half of this year and the central government's firm supply-side reforms like overcapacity reduction have boosted investor confidence." With prices of coal and metals rising, profits of listed companies in those sectors have also kept pace, giving an impetus to their share price rise. For instance, net profit of Ling Yuan Iron & Steel Group increased 608 percent year-on-year in the first half of the year, according to its interim report published on July 22. Its stock, which bottomed out in 2016 at 2.4 yuan, closed at 3.6 yuan in Shanghai on Friday. However, Shenwan's Fu and Cinda's Chen both think that commodity stocks have limited upside potential as the contributory factors are already priced in. "There has been no hot spot recently for the market to chase except the commodity stocks," Chen said, adding that China is already past the period of relying on the development of heavy industry. So, unless there are some positives like higher exports, further economic growth would be difficult, Fu said. Representatives from Truck Alliance and the China National Heavy Duty Truck Group issue business licenses to 24 distributors from across China on July 25. [Photo provided to chinadaily.com.cn] In future, the Guizhou-based company runs a mobile app that will provide services for auto loan applications, truck purchases, commodities transport locations and vehicle sales. Users of the app will be able to order and pay online, and finish purchases at 24 distributors in different cities. With big data technology, users can give feedback to the China National Heavy Duty Truck Group, helping them to adjust and improve the service. The app will also help to match trucks nationwide with commodity owners in need of transport. Follow-up services, such as the sale of electronic toll charge cards for highway transportation and auto finance services, will also be provided through the app. Previous Page 1 2 Next Page "There are many ways of seeing landscape quite as good and none more vivid, in spite of canting dilettanti, than from a railway train." 19th century Scottish author Robert Louis Stevenson's book Thoughts on Walking. Rail travel has always been, and still is, my preferred way to travel. Exactly 30 years ago this week I arrived in China by train on a journey from Glasgow, Scotland to Hong Kong's Hung Hom Station. China was a country I knew little about apart from a few confused preconceptions. It would have been easy to fly to Hong Kong but to appreciate a country, or in this case two continents, overland travel encompasses the geography, of watching Europe slowly give way to Asia, of meeting people and observing how they also physically changed, and learning from people about their countries. That journey was also a life changer. If I had not taken the train, my China story would never have happened - 30 years later this country remains my adopted home! The experiences - incredible! A warm July evening, retreating from the gravelly wastes of Mongolia's Gobi Desert the green eighteen coach train pulled into Erlain, China's border town. A fellow passenger, Mr Li, a journalist with the People's Daily East Berlin office, shook my hand while welcoming me to China. Minutes later we were both under the train watching the wheel bogies being manually swapped for Chinese track gauges, narrower than Mongolian and Russian. Idon’t think that when people grow up, they will become morebroad-minded and can accept everything. Conversely, I think it’s aselecting process, knowing what’s the most important and what’s theleast. And then be a simple man. 722. In the suitcase, the guitar tutor found the tuition by intuition. 723. The watchful snatcher dispatched a batch of combatants to the hatch. 724. The wretched butcher clutched the needle and stitched it clumsily. 725. The peer's queer peering is a sheer sneer. 726. The currency curriculum made the excursionist incur loss of time and money. 727. The stray betrayer arrayed the sprayers on the road. 728. Dust accumulated on the insulated simulator in the desolate lab. 729. The inflated balloon indicates a latent inflation on the plateau. 730. Trivial tributes constitute the attribute of constituent's report. 731. I acutely and resolutely refuted the brutal persecution of mute commuter. 732. This measure may preclude the exclusive agency from selling crucial crude oil. 733. He depicted the condition the man contradicting the verdict. 734. Magnify the magnitude of the magnetism. 735. The deputy chairman of the charity clarified the importance of clarity and purity. 736. The tramp from the tram swamped the ham hamburger with shampoo. 737. According to the pamphlet, the current in the amplifier can be amplified to 3 amperes. 738. Prolong the sponge along the longitude and latitude at an altitude. 739. The conservative man made a reservation in the observatory. 740. The mender recommends me to amend the legend agenda. 741. His comprehensive apprehension about the appendix of the pendulum is obvious. 742. Elevate the eleventh level to relevant height. 743. Thereafter, I adhered to the coherence inherent to the theory. 744. The prophet appropriately appropriated the fund for repairing propeller. 745. I'm baffled why the affiliated man initiated the negotiator into ego. 746. The radiation radius of the radioactive radium radiator in the stadium is variable. 747. Snobbish Knob is doing his hobby in the lobby. 748. The ass bypassed the guard and assassinated the surpassing ambassador in the embassy. 749. The corporate bodies collaborate elaborately on producing vibrating evaporator. 750. The dazzling light from the digital device dizzied me. 751. The extinct exotic bird's feather contains zinc. 752. The smuggler shrugged to the bugler hugging the bug in the tugboat. 753. The vocation advocate found the word "vocal" and "reciprocal" not in the vocabulary. 754. Without my aid I'm afraid the maiden would have been raided. 755. The slim Muslim reached his climax when he found the axis of the galaxy. 756. Bonus is a stimulus for me to study the silicon in the bacon. 757. The categories of the lubricated duplicators are intricate. 758. The wagging wasp grasps the crisp clasp for a gasp. 759. The reconciled reptiles rest on a fragile tile. 什邡钢筋冷挤压连接机密山钢筋套筒挤压机什邡钢筋冷挤压连接机大同钢筋套筒挤压机Walking from the east gate of the Central Academy of Fine Arts to its main studio takes less than 30 minutes, but for Li Cheng, a former campus security guard at the academy, the journey has taken almost a decade. The 28-year-old recently received an official offer from the academy in Beijing, nearly 10 years after his first failed application at the country's top arts academy in 2008. During his time as a security guard at the east gate, starting in 2012, he sketched workmates on the night shift in a silent hallway. When it came to the day shift, he would memorize English vocabulary. Li was born in a small mountainous village in Hunan province. At age 4, he started scrawling bananas and watermelons with charcoal under the guidance of his mother, who nurtured his passion for painting. Upon entering middle school, Li was able to continue painting thanks to his art teacher, Peng Dezhi. "It is Peng who persuaded my parents to allow me to pursue my passion for painting," Li said. Peng told him about the Central Academy of Fine Arts, the most coveted art school in China. He applied for the first time in 2008, but was rejected due to his poor academic performance. Li then took on a variety of jobs to make a living, from a food delivery courier and a substitute art teacher in Changsha, capital of Hunan province, to a factory worker in Shenzhen, Guangdong province. However, he got a chance to visit the academy in 2012 and decided that he would never give up his dream of studying there. "I was so thrilled to visit the academy. I thought to myself, 'I must study in this pine place,'" he said. Li applied for a job at the academy and began working as a security guard at the east gate. He started painting again and picked up his brush whenever he took a break. His artwork was seen by some students, who encouraged him to pursue his passion. Li signed up for a training course at a small studio near the campus and went there every day after work. But successive failures in academic performance in 2013 and 2014 left Li feeling his dream was unachievable. However, in 2016, he tried out for a fourth time, starting his academic courses from scratch. Eventually, his hard work paid off. He passed the professional test at the academy, ranking eighth nationwide. "Sitting with classmates 10 years my junior makes me feel like I am recapturing my youth," he said. Wang Keju contributed to this story. A rise in IPOs, expectations of stricter policy and high PE ratio are likely to hurt stocks of small technology companies as both retail and institutional investors in the equity market are increasingly favoring shares in commodity companies. Shares in small companies in IT, biotech and new material sectors that have been in a tailspin of late, are expected to slump further, while coal, steel and nonferrous metal stocks are tipped to coast on the respective companies' brightening business performance. "Investors are chasing stocks of listed companies with low valuations and good performance, and steering clear of stocks hyped up on concepts like 'technology-is-future'," said Zhan Jianwen, senior investment manager at China Investment Securities. The last two years have seen a meltdown of the ChiNext Startup Index, which comprises many small tech stocks. On Friday, the index closed at 1734.07, down 57 percent from its record high of 4,037.96 on June 4, 2015, when the descent from the peak started. Since June 2015, shares of 230 companies on the ChiNext fell more than 50 percent; 43 of them tumbled more than 70 percent; and 10, including well-known Dadong Xintai Electric and Qtone Education, crashed more than 80 percent. Market-people attribute some of that meltdown to fears that financial regulations are likely to get stricter. A potential crackdown on accounting frauds and other illegal practices by listed small technology companies is believed to be imminent. In addition, expectations of an IPO flood, and restrictions to preempt shadowy mergers and acquisitions or M&A aimed at boosting weak shares, have hurt the ChiNext Index, said Fu Jingtao, a market strategist with Shenwan Hongyuan Securities. Regulators have been emphasizing that financial markets should serve the real economy, hinting at the possibility that IPOs will continue and may accelerate. There were 260 IPOs in Shanghai and Shenzhen from January to July 14, more than the annual average of the last five years. In all, they raised 130.63 billion yuan ($19.38 billion), almost equalling the proceeds of last year. Since 2013, the Chinese government has encouraged the development of some emerging sectors. Investors thus came to fancy stocks of companies engaged in fields like online education, online lottery and manufacture of robots. In the first half of 2015, such stocks surged. "However, there are now more stocks with both reasonable valuations and good performance for the investors to choose, making the ChiNext companies with steep valuations not a good choice," said Fu. The fall in M&A's of ChiNext companies meant that investors are no longer expecting M&A-related high growth, more so because in several cases, the acquired companies were subsequently found to be riddled with bad performance, Fu said. In the January-May period, there were an average 10 M&A's per month, a far cry from the record 50 per month. Fu forecast that M&A's will decrease continuously until 2020. "The ChiNext of today, however, should not be seen as a sign of weakness across the emerging sectors. Some of China's best tech companies are listed overseas," Fu said. The price-earnings ratio of ChiNext stocks had peaked around 150 in 2015, exerting a great deal of pressure on the index, said Chen Jiahe, chief analyst of Cinda Securities. That pressure has pushed the average price multiple to around 40 now. It will continue to find its bottom in the coming months, Chen said. In contrast, coal, steel and nonferrous metal stocks have surged for the past several months, gaining momentum since June. The 300 Material Index rose almost 20 percent to 2454.73 on July 21 from 2047.95 on June 2. The index began its ascent early last year, and reached 1642.56 on Feb 5, 2016. The commodity stocks are hot picks for their low PE ratio and companies' good performance, said Chen. "The higher-than-expected 6.9 percent GDP growth in the first half of this year and the central government's firm supply-side reforms like overcapacity reduction have boosted investor confidence." With prices of coal and metals rising, profits of listed companies in those sectors have also kept pace, giving an impetus to their share price rise. For instance, net profit of Ling Yuan Iron & Steel Group increased 608 percent year-on-year in the first half of the year, according to its interim report published on July 22. Its stock, which bottomed out in 2016 at 2.4 yuan, closed at 3.6 yuan in Shanghai on Friday. However, Shenwan's Fu and Cinda's Chen both think that commodity stocks have limited upside potential as the contributory factors are already priced in. "There has been no hot spot recently for the market to chase except the commodity stocks," Chen said, adding that China is already past the period of relying on the development of heavy industry. So, unless there are some positives like higher exports, further economic growth would be difficult, Fu said. Representatives from Truck Alliance and the China National Heavy Duty Truck Group issue business licenses to 24 distributors from across China on July 25. [Photo provided to chinadaily.com.cn] In future, the Guizhou-based company runs a mobile app that will provide services for auto loan applications, truck purchases, commodities transport locations and vehicle sales. Users of the app will be able to order and pay online, and finish purchases at 24 distributors in different cities. With big data technology, users can give feedback to the China National Heavy Duty Truck Group, helping them to adjust and improve the service. The app will also help to match trucks nationwide with commodity owners in need of transport. Follow-up services, such as the sale of electronic toll charge cards for highway transportation and auto finance services, will also be provided through the app. Previous Page 1 2 Next Page "There are many ways of seeing landscape quite as good and none more vivid, in spite of canting dilettanti, than from a railway train." 19th century Scottish author Robert Louis Stevenson's book Thoughts on Walking. Rail travel has always been, and still is, my preferred way to travel. Exactly 30 years ago this week I arrived in China by train on a journey from Glasgow, Scotland to Hong Kong's Hung Hom Station. China was a country I knew little about apart from a few confused preconceptions. It would have been easy to fly to Hong Kong but to appreciate a country, or in this case two continents, overland travel encompasses the geography, of watching Europe slowly give way to Asia, of meeting people and observing how they also physically changed, and learning from people about their countries. That journey was also a life changer. If I had not taken the train, my China story would never have happened - 30 years later this country remains my adopted home! The experiences - incredible! A warm July evening, retreating from the gravelly wastes of Mongolia's Gobi Desert the green eighteen coach train pulled into Erlain, China's border town. A fellow passenger, Mr Li, a journalist with the People's Daily East Berlin office, shook my hand while welcoming me to China. Minutes later we were both under the train watching the wheel bogies being manually swapped for Chinese track gauges, narrower than Mongolian and Russian. Idon’t think that when people grow up, they will become morebroad-minded and can accept everything. Conversely, I think it’s aselecting process, knowing what’s the most important and what’s theleast. And then be a simple man. 722. In the suitcase, the guitar tutor found the tuition by intuition. 723. The watchful snatcher dispatched a batch of combatants to the hatch. 724. The wretched butcher clutched the needle and stitched it clumsily. 725. The peer's queer peering is a sheer sneer. 726. The currency curriculum made the excursionist incur loss of time and money. 727. The stray betrayer arrayed the sprayers on the road. 728. Dust accumulated on the insulated simulator in the desolate lab. 729. The inflated balloon indicates a latent inflation on the plateau. 730. Trivial tributes constitute the attribute of constituent's report. 731. I acutely and resolutely refuted the brutal persecution of mute commuter. 732. This measure may preclude the exclusive agency from selling crucial crude oil. 733. He depicted the condition the man contradicting the verdict. 734. Magnify the magnitude of the magnetism. 735. The deputy chairman of the charity clarified the importance of clarity and purity. 736. The tramp from the tram swamped the ham hamburger with shampoo. 737. According to the pamphlet, the current in the amplifier can be amplified to 3 amperes. 738. Prolong the sponge along the longitude and latitude at an altitude. 739. The conservative man made a reservation in the observatory. 740. The mender recommends me to amend the legend agenda. 741. His comprehensive apprehension about the appendix of the pendulum is obvious. 742. Elevate the eleventh level to relevant height. 743. Thereafter, I adhered to the coherence inherent to the theory. 744. The prophet appropriately appropriated the fund for repairing propeller. 745. I'm baffled why the affiliated man initiated the negotiator into ego. 746. The radiation radius of the radioactive radium radiator in the stadium is variable. 747. Snobbish Knob is doing his hobby in the lobby. 748. The ass bypassed the guard and assassinated the surpassing ambassador in the embassy. 749. The corporate bodies collaborate elaborately on producing vibrating evaporator. 750. The dazzling light from the digital device dizzied me. 751. The extinct exotic bird's feather contains zinc. 752. The smuggler shrugged to the bugler hugging the bug in the tugboat. 753. The vocation advocate found the word "vocal" and "reciprocal" not in the vocabulary. 754. Without my aid I'm afraid the maiden would have been raided. 755. The slim Muslim reached his climax when he found the axis of the galaxy. 756. Bonus is a stimulus for me to study the silicon in the bacon. 757. The categories of the lubricated duplicators are intricate. 758. The wagging wasp grasps the crisp clasp for a gasp. 759. The reconciled reptiles rest on a fragile tile.