Core Viewpoint - The successful operation of China's first "integrated wind-solar-fire-storage" transmission project marks a significant advancement in the country's high-voltage direct current (HVDC) technology, showcasing the development of intelligent protection systems for power grids [1][4]. Group 1: Historical Context and Development - In the 1970s to 1990s, over half of the stability issues in China's power grid were attributed to relay protection defects, with high-end protective equipment being largely imported and costly [2]. - Zheng Yuping, a key figure in the development of relay protection technology, has dedicated over 40 years to advancing this field, transitioning from reliance on foreign technology to achieving self-sufficiency and innovation [2][8]. Group 2: Technological Innovations - Zheng's team developed a high-sensitivity directional protection method for high-voltage lines, leading to the creation of complete protective devices for ultra-high voltage transmission lines, generating over 5 billion yuan in value [2][3]. - The team achieved a market share of over 60% in the large-capacity generator transformer protection market, with products exported to over 20 countries [3]. Group 3: Challenges and Solutions - The complexity of modern power grids presents new challenges for traditional protection technologies, necessitating innovative solutions to ensure safety and reliability [4][5]. - Zheng's team established a differential protection technology system to address the evolving characteristics of complex grid faults, significantly enhancing fault identification and response times [4][5]. Group 4: Future Directions - With the rise of new energy systems, there is a pressing need for updated relay protection technologies to adapt to changing fault characteristics [7]. - Zheng proposed a new relay protection principle based on time-domain equivalent models, aiming to create a system that does not rely on power source characteristics, which is currently being applied in various modern energy scenarios [7].

Core Viewpoint - Chinese enterprises are increasingly expanding into overseas markets, but they face significant financial risks due to global currency fluctuations. The introduction of the "Action Plan" aims to enhance cross-border financial services and promote the concept of currency risk neutrality among businesses [2][3]. Group 1: Currency Risk Management - The recent volatility in the foreign exchange market has made it difficult for companies to predict currency movements, leading to a reluctance to engage in currency hedging [3][4]. - The proportion of foreign trade enterprises in China utilizing foreign exchange hedging has increased from 21.7% in 2021 to 27% in 2024, indicating a growing willingness to manage currency risks [5]. - Companies are increasingly seeking advice from banks on currency risk management, with some banks providing tailored hedging solutions and training to help businesses understand the benefits of hedging [4][6]. Group 2: Cost Considerations - Small and medium-sized enterprises (SMEs) often face pressure from costs associated with currency hedging, which can deter them from utilizing these financial instruments [6]. - The government has initiated measures to reduce the costs of foreign exchange hedging for SMEs, including subsidies for guarantee fees and encouraging banks to offer competitive quotes [6][7]. - A case study of a bearing machinery company illustrates how a bank's policy-backed hedging service allowed the company to convert unused loan amounts into hedging products without incurring additional costs [7]. Group 3: Innovative Financial Solutions - The "Action Plan" emphasizes the need to optimize currency risk management services and improve the capabilities of enterprises to respond to foreign exchange risks [8]. - A new financing scheme developed by a bank allows companies to convert high-cost foreign currency liabilities into lower-cost, controlled-risk RMB liabilities, effectively managing financing costs and risks [8][9]. - This innovative approach includes locking in exchange rates for future payments, thereby mitigating potential risks associated with currency fluctuations and interest rate changes [9].

5月13日，中国—拉美和加勒比国家共同体论坛第四届部长级会议在北京举行。国家主席习近平在出席 会议开幕式并发表主旨讲话时宣布，中方同拉方携手启动五大工程，共谋发展振兴，共建中拉命运共同 体。 中拉全面合作伙伴关系的建立意义重大、影响深远。多年来，中国同拉美和加勒比国家携手并肩、相互 支持，双方勇立潮头、合作共赢，顺应经济全球化大势，推动贸易、投资、金融、科技、基础设施建设 等领域务实合作不断深化，高质量共建"一带一路"，携手谱写构建中拉命运共同体新篇章。 作为中拉深化务实合作的重要领域，多年来，我国金融业积极支持中拉合作，助力深化南南合作，不断 为中拉全面合作伙伴关系增添新内涵，为构建中拉命运共同体注入"金"动能。 服务深化中巴经贸合作 积极拓展与拉美国家各层级、各领域互动 伴随中拉战略互信更加深入、务实合作持续拓展、友好势能不断增强，双方在金融领域的携手探索也在 增加。 在阿根廷，国开行融资支持的贝尔格拉诺货运铁路改造一期项目，将该铁路的运力提升至改造前的 235%，列车运行速度和稳定性明显提高。作为连接阿根廷粮食主产区和港口的重要运输通道，贝尔格 拉诺货运铁路改造后，经该铁路运输的货物成本明显降低，有效提 ...