First, the second question. Crude oil, like gold and grain, is an important strategic resource. The current price increase is mainly due to the unstable political situation in North Africa and the surrounding Arab world, the international community's expectation of oil production reduction, and the speculation of large funds, which leads to soaring prices. This principle also applies to gold and grain. Although this is irrational amplification, the rise will continue for some time. This rise can also be understood from another aspect. In international large-scale transactions, the US dollar has always been the universal equivalent currency. The rise in the prices of various commodities such as oil, grain and gold will reduce the purchasing power of the US dollar. The speculation in the market will expand the purchasing power of the US dollar, which will cause the US dollar index to fall all the way in the near future, and will also push up the prices of various strategic resources.

Capital markets are interlinked, and this series of price trend changes have a certain impact on China stock market. But not necessarily limited to plates,

(1) The depreciation of the US dollar, compared with the appreciation of the RMB, will also lead to the appreciation of RMB assets, which will promote large domestic and foreign funds to pay attention to China's capital market, including the stock market, and will usher in a wave of skyrocketing market.

(2) Listed companies in oil, gold and grain sectors will increase their benefits because of rising product prices, but they should also be treated differently. Enterprises with mining rights and raw material production sources can reduce costs and create more profits because of their vertical integration, while enterprises that rely on purchasing raw materials in the middle of the production chain have no obvious increase in profits because of the rising prices of raw materials.

(3) In China A-share market, the so-called blue chips are not real blue chips, such as the Big Three, whose unparalleled total share capital and market value, as well as the layer-by-layer losses due to system problems, will be diluted even if the crude oil price rise can bring profits.

④ You can pay attention to related listed companies with hedging business. Although the main business of these enterprises is not directly related to these price-increasing resources, as long as they open positions in the futures market, they can get considerable capital gains, and once the news is leaked, they can also stimulate the stock price to rise.