Expect to hear a lot about the "Hefei model" (合肥模式) this year—an industrial policy piloted in Hefei where local governments (working through local SOEs) use targeted M&A and strategic investments to boost innovation/NQPFs. The idea is simple: local authorities create government-backed investment funds to take stakes in key companies. These investments target industries with high growth potential and strategically important technologies. By securing control or significant stakes in these firms, governments create a "gravitational pull" that attracts suppliers, partners, and other businesses, potentially accelerating the formation of industry clusters—a leverage strategy where small public investments unlock much larger flows of private capital.
Take NIO as an example. In 2020 NIO was on the verge of collapse, with barely enough cash to stay afloat and no viable funding options. Hefei stepped in with 7B RMB through its state-backed funds, taking a 24% stake in exchange for NIO relocating its headquarters and core operations to the city. That initial investment set off a chain reaction—NIO partnered with local players like Jianghuai Auto, new suppliers moved in, and an EV industry cluster began to take shape. Eventually major names like BYD and Volkswagen joined the ecosystem, turning Hefei into a key EV hub. The Hefei government recouped its initial investment in under a year, retaining an 8% minority stake as of now.
Xingzheng Securities has a great primer on "Hefei model": https://t.co/V9sHTbp4js
@WhittersRichard How did high level play feel back then? Was it as slow and cumbersome as 5e might feel to some today? Or were the rules more facilitating of playing the game at all levels?
Mil gracias a todos
Many thanks to all
Merci beaucoup à tous
Grazie mille à tutti
谢谢大家
شكرا لكم جميعا
תודה לכולכם
Obrigado a todos
Vielen Dank euch allen
Tack alla
Хвала свима
Gràcies a tots
We've just published our 2024 Southeast Asia Gamer Behavior & Market Insights Report.
After a decline in gaming time last year, average individual gaming time across the region is up 53.2% YoY, which is a return to peak pandemic levels.
Read More: https://t.co/ytuMdgwi3E
Como excorresponsal en Pekín, una de las cosas que más me ha llamado la atención del CV de @GovTimWalz es su conexión con China. Este hilo lo detalla muy bien
Oh...oh sh-
THIS IS NOT A DRILL, PEOPLE! I REPEAT, THIS IS *NOT A DRILL*
THE BLACK SABBATH MODULES ARE FINALLY AND DEFINITELY CONFIRMED.
1ST EDITION AD&D MODULES BASED ON THE BLACK SABBATH SONGS:
N.I.B.
WAR PIGS
THE WIZARD
ART BY RICHARD WHITTERS AND SCHULYER HERNSTROM! COMING SOON.
#dnd #adnd #ttrpgs #fantasy #blacksabbath #dungeonsanddragons #advanceddungeonsanddragons #tabletoproleplayinggames
And with that, I'm on vacation from streaming/videos in general. I'll be back to it on the 15th, barring any Earth- (oerth?) shaking events in TTRPGs. I'm not going to not post here, though, oh no you're not free of me. I wish I could say, well, I'm going to Easter Island for a week, no internet connectivity I'm afraid! but ... well, that will never happen.
My to-do list is:
1: Catch up on modules for my Patrons! I'm terribly late on this and I thank you for your patience.
2: Get some "personal" writing done.
2a: I should probably get moving on the Black Sabbath AD&D modules for when or if I hit 5k followers here.
3: Maybe paint some minis.
4: Just try to relax some.
When I get back, my first guest back will be Robert J. Kuntz (@threelinestudio) on the 25th of July. @TimothyImholt and I have something in the works that will knock your socks off but I'm not 100% sure if we'll be ready for an unveil. It'll be announced after my video vacation but I'm not 100% sure if it'll be right after.
I have a major announcement on the 27th of July, please stay tuned.
Anyway, that's a whole week without my YouTube spam on your Twitter feed. Isn't that great?
I love you all.