Core Viewpoint - The article discusses the importance of accurate timekeeping in modern society, highlighting that the official time in China originates from the National Time Service Center in Xi'an, Shaanxi Province, and emphasizes the implications of time accuracy for various sectors, including finance and national security [8][10][44]. Group 1: Timekeeping and Its Importance - The unified and precise Beijing time is crucial for the functioning of society, as it serves as the foundation for various systems [8][10]. - The National Time Service Center has been under cyberattacks from the United States for nearly two years, indicating the strategic importance of time management [9][10]. - Accurate time is essential for high-precision fields such as aerospace, satellite navigation, and financial transactions, where even a slight error can lead to significant consequences [18][38]. Group 2: Mechanisms of Timekeeping - The National Time Service Center employs two main methods for time dissemination: ground-based and space-based systems [26][27]. - Ground-based time dissemination includes shortwave radio broadcasts and low-frequency time code signals, achieving millisecond to microsecond accuracy across the country [28][30][39]. - Space-based time dissemination relies on Global Navigation Satellite Systems (GNSS), such as GPS and BeiDou, which provide time signals with nanosecond precision [34][36]. Group 3: Implications for Various Sectors - In finance, accurate time signals are critical for transactions, as they follow a "price priority, time priority" principle, where the speed of order execution can determine success or failure [39][40]. - Regulatory bodies in the EU and the US require financial institutions to synchronize their systems with standard time, emphasizing the need for precision in timekeeping [43]. - The military also relies on precise time coordination for operations, where discrepancies can lead to confusion and loss of control [43][44].