Xu Gao, one of the China Finance 40 Forum (CF40) -Youth Economist members, chief economist of Everbright Securities, indicating that the recent China's economy is in transition, many people do not understand the current economic situation. The understanding of China's economic situation from different observers from different perspectives will be quite different. Xu Gao thinks that the biggest risk of current Chinese economy is "utopian market." Over the past few decades, in order to achieve economic growth, China did many efforts in market reform. In this respect, China has made no small achievement, which made market-oriented direction become popular.

Some people think that market-oriented reforms should be accelerated, the sooner the better. They believe that the reason why the current chinese economy is now in such complex state is that the market-oriented reforms have not yet to a certain high level. These people hold the view that the market should be opened up and let the market adjust spontaneous for overcapacity, high debt and other structural problems of chinese economic. In this process, those overcapacity, high debt tungsten enterprises will be out of the market, leaving those more promising, more healthy tungsten enterprises.

Through such "cleaning", the chinese economy will be able to get rid of a heavy burden, leaving a strong team. Xu Gao considered this idea as "utopian market", which is too idealistic and not realistic considering the complexity. In fact, history proves that such a utopian policy cannot achieve the desired results, and even bring disaster to the economy of countries. If such thinking continues to develop and expand, it will only continue to interfere the development of the tungsten market (tungsten heater element), and it cannot keep the stable economic growth for a long-term. Therefore, China should be more pragmatic to promote a progressive reform idea.

The result for British voters elected to leave the European Union(EU) has been announced today, which will have far-reaching repercussions both domestically and internationally, and immediately plunged the 28-member political and economic union into its worst crisis since it was founded.

The vote result was at times bitter and acrimonious. The Leave campaign, headed by former London Mayor Boris Johnson, took 51.9% of the vote to the 48.1% that the Remain campaign, headed by Prime Minister David Cameron. According to British Broadcasting Corporation, 72% of the electorate voted.

The result had an immediate effect on the financial markets, with the pound plunging to a 30-year low against the US dollar and the Euro, Europe’s single currency, slid 3% against the US currency. The US has for years had British membership of the EU a core part of its European policy, while the UK and China are experiencing what Cameron and President Xi labeled “a golden era” after the Britain last Oct., when deals worth 40 billion sterling were announced. Now the referendum result to leave the EU is affecting the gold market greatly, which will lead the gold price to a increasing tendency apparently. It is said that gold, as a favorable hedge investment, will be more and more popular by the investors, which will push the gold price moving up.

In June 15, the seventh national congress of Nfsoc was held in Beijing. China Nonferrous Metals Industry Network reported that President Chen Quanxun said that The Nonferrous Metals Society of China (Nfsoc) is an important force in China's nonferrous metals industry. Since the Society was established, it always adhere to the principle of service, play an important role on the bridge link, science and technology think tank, leading innovation, which has won recognition and trust of companies in this filed. The current development of China's nonferrous metals industry is stagnation, and it is facing slower growth, reduced investment, decline in exports, decreased efficiency and other severe problems, in short, the recent nonferrous metals industry is experiencing difficulties, for these serious problems, the meeting put forward the corresponding measures, which will has a good promotion effect for nonferrous metals industry in the future, such as the development of tungsten market (tungsten heater).

The president Chen Quanhui emphasized that as an industry-wide science and technology academic organization, Nfsoc shoulders the sublime historical task of technological innovation, the society should lead the development of China’s nonferrous metals industry. Song Jun, who is the party member of China Association for Science and Technology and ministry of Academic department, also said that it is time to organize the good innovation activities to stimulate the create enthusiasm of science and technology workers. In addition, enterprisers themselves should innovate in, producing, marketing, service, research and development, finance, human resource, which would directly promote the development of the tungsten market (tungsten heater). Ma Xiaohe, the well-known expert and the president of the Academy of Macroeconomic Development of China, was also invited to this meeting to do the report for the current economic situation and the supply-front economics. This is undoubtedly in rescue the tungsten market in dire straits.

Recent years, since the development of mining and energy exploration as well as some large-scale infrastructure construction projects, tungsten carbide for mining, such as tungsten carbide buttons, bits, picks, mills, DTH drills and some supporting tools has been widely used and the market demands increased gradually. With the rapid development of metallurgical industrial technology of our country, in gas, fuel oil, natural gas drilling, some demands of mechanical mining equipment and large and medium pore diameter drill with carbide ore also increased. Mining tools take advantage of WOB and rotation of the impact load itself broken rock, drill and buttons during operation when subjected to high impact loads at the same time by twisting, bending, stretching, compression and other complex stress. And it subjected to the wear and corrosion by rocks, rock dust, mineral water, etc. at high-speed rotation. So it requires that tungsten carbide used for mining not only has high hardness and toughness, but also has good wear and corrosion resistance.

In order to combine wear resistance with toughness, relevant researchers develop many new types of carbide, such as ultra-fine or nano cemented carbide, high-temperature powder based carbides, functional gradient tungsten carbide, low-Co and coarse grain carbide, double binder phase and double crystalline structure, etc. Double binder phase was developed by American company, which fully dense WC-Co pellets embedded in Co matrix to remain the similar wear resistance of common alloys. The binder phase can be any bonding metal, alloy or another kind of cemented carbide.

The most outstanding characteristic is that the hard phase is not a hard compound (WC), which is composed of refractory metal compound and Co sintered hard material into crystalline pellets (WC-Co) composition and mixed with binder metal for secondary sintering. Compared with most of double phase tungsten carbide, double binder phase carbide has greater design freedom (size, hardness, toughness, strength of base and so on), which has been widely used in rolling cutter bits, impacting bits, dragging bits and other tools. Double crystalline tungsten carbide is also called as non-uniform grain carbide. Since the WC grain size distribution curve has two peaks, it can be also known as bimodal-structure tungsten carbide. This kind of structure coarse grain WC can provide good ductility and toughness, and a certain proportion of fine grain WC is able to provide high wear resistance.

In the year of 2015's "Made in China 2025" is the Programme of Action for the Decade of manufacturing power, which was first proposed implementation strategy. It takes "high-end CNC machine tools and robots" as a key area to vigorously promote. And it has proposed development of a number of precision, high speed, high efficiency, flexible CNC machine tools and basic manufacturing equipment and integrated manufacturing systems; accelerate the development of high-end CNC machine tools, manufacturing, and other materials by cutting-edge technology and equipment; To enhance the reliability, precision keeping the focus on the development of high-end CNC system, servo main features and key applications software motor, bearing, grating, accelerate industrialization; enhance the user process validation capacity building.

CNC machine tools is the mainstream of modern manufacturing equipment, which is he embodiment of modern technology, an important symbol of modern machinery manufacturing technology level, is relative to the people's livelihood, national defense building strategic materials. Although since 2002, China has become the biggest country in world machine tool imports and consumption, it has significant export deficit, especially in High-grade, large, sophisticated, high-speed CNC machine tools and CNC systems degree dependence on imports. So overcome technical bottlenecks, narrowing the gap with the international advanced level in the country has become the direction of development of CNC machine tools. Due to tungsten carbide has high hardness, excellent wear resistance, and it can be the best choice for indexable insert. In the process of CNC machining, tungsten carbide indexable inserts have many advantages:
1. It is difficult to produce the cracks and cracks expansion;
2. It can adopt CVD or PVD to deposit a harder layer (TiC, TiN, CBN) on tungsten carbide matrix surface to improve the cutting property;
3. Simple operation, shorter time for tool changing, high machining efficiency;
4. Tungsten carbide indexable inserts are standardized and centralized production, which has consistent blade geometry parameters, cutting control and stability, and a very wide scope.