夜猫视频官网

千层浪直播下载安装

Home > About > News & Events > News >

乐山机械有限公司

Time:2019-08-29 11:28:36  Hits:[]

This article has been published in PHBS Magazine ( premier issue, fall 2019) 
Click here to read the magazine 


The financial industry has become flush with a vitality that has accompanied significant technological momentum. As fintech moves from an upstart movement into the mainstream, preparing students for the future of finance is vital. Universities worldwide have begun to incorporate fintech into their curricula, while PHBS is on the same track. “It’s a natural step to set up a fintech program” said Jaehyuk Choi, explaining why PHBS has launched a program in this field.

He pointed out that PHBS is a leading business school located in Shenzhen, a hub for innovation and entrepreneurship, “so fintech is an important intersection between PHBS and Shenzhen.” Choi made a career shift leaving his “quant” job at Goldman Sachs and joined PHBS in 2017 as an assistant professor. Now, he teaches blockchain and machine learning courses for the school’s fintech program and is devoted to research on quantitative finance and machine learning. To prepare for the new and ever-changing field, he has “reviewed tons of related materials” and also finished a paper on Bitcoin.*

“Fintech is where finance meets technology,” he explained. “For a fintech program to truly succeed, it needs ‘chemical bonding’ between the two areas.” In this recent interview, Choi shared his insights on our fintech program and China’s fintech story, as well as views on business schools’ role in this trend.

Choi stands in front of his bookshelf, saying he needs to read tons of related materials to get well prepared for the new and ever-changing field

Q: Financial technology, more commonly referred to as fintech, is expected to reshape the financial sector in the coming years. What are the reasons for its rapid growth?

Choi: Mainly it's about efficiency and affordability. So, fintech is where finance meets technology, and here's an example. Robo advisers are being used now. They are automated online platforms that can provide cost-effective financial advice. After clients fill out a personal profile, the robo advisor algorithm makes portfolio selections and manages them. This is a lot more affordable to a greater number of people than standard, human advising and portfolio management.

Q: China is emerging as the world's fintech market leader. Can China's fintech story be replicated elsewhere but tailored to the local context?

Choi: China is unique in many ways and already has successful fintech, especially in online payment. One reason for its success is that people in China don't use credit cards very much because many people didn't have access to banking in previous years. But now with the mobile phone, anyone can access the Internet, so China kind of skipped credit cards and went directly to online payment. Alibaba and Tencent are good examples. They have been central to encouraging other companies and when startups are successful, they will buy them. So, China has a good system for encouraging further fintech development in the example of online payment for it because of the chain of success. In other countries, such innovation may be slower because existing credit card technology, for example, continuously improves and competes with fintech. Still, the success of China fintech is important for other countries because it leaves footprints to follow.

Q: What are the challenges and downside of fintech?

Choi: There are many promising aspects in fintech, but it's not going to be the cure for all. For any fintech to succeed, it has to compete with existing technology, which is continuously and rapidly being innovated. I don't think fintech will win in all fields of finance. The downside is privacy and jobs. Personal information is very important for fintech companies because they create value from data. However, privacy should be protected and we have to ensure that personal data is used properly. Many jobs will be removed by AI [artificial intelligence], and we need to prepare for that trend. So students need to understand this long before graduation.

Q: Last year, PHBS launched a new master's program focusing on fintech. Can you give me a full picture of this program?

Choi: We are China's leading business school in Shenzhen, and with Shenzhen being a hub for entrepreneurship and startups, we want to create synergy between the two. So, it's a natural step to set up a fintech program. We offered the first courses for the new pro - gram this year [academic year 2018-2019], are improving the curriculum, and are looking to hire more faculty who specialize in this area.

It is important, however, to stress that as a business school, we want our students to have fundamental knowledge in management,finance and economics before they merge it with technology. That philosophy is reflected in our curriculum design. Our courses focusing on fintech include blockchain, AI, cyber security, and information security. Although we stress the fundamentals, our students are expected to do a lot of hands-on work in terms of programming. AI and machine learning involve a lot of coding, as students in the software engineering course learned.

However, fintech is an emerging field and approaches to teaching it are still developing. For example, looking at our curriculum and those at other schools, so far it's a mix of courses in technology and finance. Some business schools teach fintech as related to finance, whereas there are engineering schools teaching from the perspective of machine learning. That's so-called “physical bonding.” For a fintech program to truly succeed, it needs “chemical bonding” between the two areas. When teaching fintech and finance, technological aspects should also be addressed. When tech people talk about machine learning, they should teach some applications in finance. That's the direction all fintech programs eventually should aim, but it's quite difficult. 

I'll tell you an interesting story about one of my friends, an accountant at Google – not a software engineer. One day, he told his boss that he needed to purchase new accounting software. His boss asked, “Why do you need to buy software? Google is the best software company, and we have lots of good engineers. Ask one of our programmers to make our own accounting software.” The problem is that Google programmers are not good at accounting. Eventually my friend left Google.

I worked for Goldman Sachs, and though the company often talked a lot about fintech, I found financial companies could be conservative in trying new things, a little bit too slow to adopt the technology. Fintech offers a lot of opportunities but it's hard for finance and technology to mix up and bond chemically. That's the main challenge. So, going back to our fintech program at PHBS, we need to achieve that kind of curriculum goal.

A quick, final story on the challenges of developing fintech coursework. I taught blockchain and digital currency. I thought I knew how currency works, how bitcoin works, but I had to learn more and studied a lot to prepare for the course. For example, it is common to search for ideas from other schools' courses, yet I couldn't find anything on blockchain. Developing the course was a painful but great learning experience for me. The students and I learned together, and the students gave me helpful feedback to improve the course.

Q: Do students solve practical cases or do empirical work in fintech?

Choi: We don't really do textbook-oriented things. Fintech is new, and there are no textbooks. So, basically, they work on practical applications. For example, in the AI and machine learning course they used real data, applied the machine learning algorithm, and searched for any patterns in the data. In the software engineering course they created a program to suggest portfolio management. It's a practical real-world example. My course didn't involve much programming. The subject for their final project was surveying real industry, how block chain is used. Looking at what's taught in school and what's done in real life, there is not much difference.

Q: Are there any other universities offering fintech master's programs and are they similar to ours?

Choi: Hong Kong is a financial hub but is being challenged by Shenzhen and Shanghai, so I think its government is concerned about maintaining Hong Kong's status. Thus, schools and government in Hong Kong are working together to set up fintech programs. For example, CUHK [Chinese University of Hong Kong] created a fintech undergraduate course, and HKUST [Hong Kong University of Science and Technology] created a one-year fintech master's program. In these cases, the driving force is the engineering schools, although they cooperate with business schools. Therefore, perhaps they emphasize technology.

I think that one of the things that sets PHBS apart from other schools is fostering students' leadership skills. We see our graduates as future business leaders, and that includes in fintech, whether they work for a fintech company or start their own. So, as they take on leadership positions, we'd like them to have a strong perspective not only on technology but also on company management and determining the firm's technology needs.

Q: There are a number of online fintech courses, including courses offered by MIT and Oxford. What do you think about those online courses?

Choi: My guess is that these online courses are targeted to people already in the industry, either in technology or in finance. When designing our courses, I searched for some information on the web. But these are paid programs, so I couldn't look into much detail. However, the online programs only provide a certificate. These are not degree programs. So, comparing our program to online programs is not an equal comparison. Yet, these online programs' existence tells you the popularity of fintech because people want to use it in their careers. It also reflects an emerging trend in academia too.

Q: While tech giants like Baidu, Alibaba and Tencent have largely fueled the growth of fintech in China, smaller players have emerged in recent years, especially in Shenzhen. Do you think Shenzhen is on track to become a front-runner in this regard? What role can universities and business schools like PHBS play in this trend?

Choi: Yes, Shenzhen is on track. Tencent is definitely the leading company in this field, while Alibaba is headquartered in Hangzhou. Tencent and Alibaba are sharing the market in mobile payment. Shenzhen has a more favorable environment for small startups, too. I'm always surprised at how China quickly adapts to new things. I think the role model for PHBS and Shenzhen should be the relationship between Stanford University and Silicon Valley: Stanford provides talented students, and industry gives them feedback, so they can grow together. So I think we can follow that model.

The only problem is that we are a business school, not an engineering school. Because of that, fintech is important for PHBS. While we can't help with hardware or electronic startups, we can help with fintech startups. Fintech is an important intersection between PHBS and startups in Shenzhen. I hope PHBS will have more interaction with startups in Shenzhen to get feedback on better educating and training students in ways to benefit startups.

One example is that Britain's Duke of York has visited our school twice to promote his venture Pitch@Palace.* We should develop similar initiatives. PHBS has set up the Center for Innovation and Entrepreneurship, which aims to promote innovation and entrepreneurship in the Greater Bay Area, and cultivate innovative and entrepreneurial talent with global vision. Yet, it would be good for PHBS to get involved in the startup ecosystem. We could first start by incubating our alumni's startups and then connect to angel investors who are also our alumni. We can start to take small steps to connect investors together. I hope that these things happen in the future.



[*Editor's note: Just before this magazine went to press, Choi's paper “BitMEX Bitcoin Derivatives: Price Discovery, Informational Efficiency and Hedging Effectiveness” ( click to read ) was accepted for publication by The Journal of Futures Markets.

Pitch@Palace, founded by HRH The Duke of York, is a platform that supports entrepreneurs to accelerate and amplify their ideas. During his visits, HRH acknowledged PHBS's engagement in Sino-UK educational communication and collaboration, as well as entrepreneurship.]


Popular Articles
Latest News
Campus Events
红杏视频官网 花心视频下载 水晶直播下载 后宫视频下载安装 月光宝盒直播官网 avgo下载安装 妖妖直播下载 蝶恋花下载安装 酷咪直播官网 夏娃直播下载 本色视频下载安装 尤蜜视频官网 ML聚合直播下载 小可爱下载安装 尤蜜视频官网 繁花直播下载安装 污直播下载安装 午夜直播间官网 享受直播下载 泡芙视频下载安装 豌豆直播官网 黄色直播软件下载 望月官网 宅男之家下载 含羞草实验研究所官网 迷雾直播官网 茄子视频下载 硬汉视频下载安装 蚪音官网 成版人茄子视频下载安装 花心下载安装 health2下载 烟花巷下载安装 爱爱视频下载 荔枝视频下载 九尾狐直播下载 烟花直播官网 青草视频下载 月光宝盒直播官网 水果视频下载 小仙女下载 盘她直播下载安装 黄瓜直播下载安装 烟花巷直播下载安装 皮卡丘直播官网 9uu官网 本色视频下载 梦露直播下载安装 91视频官网 酷咪直播下载 夜狼直播官网 木瓜官网 花心下载 梦鹿直播下载 小猪视频官网 豆奶视频官网 成版人抖音富二代官网 食色短视频下载 蚪音下载 色秀直播下载 佳丽直播官网 考拉直播下载 9uu下载安装 蓝精灵直播下载 乐购直播下载 芭乐视频下载 茄子官网 比心下载安装 小狐仙下载 暖暖直播下载 BB直播官网 health2下载 梦幻直播下载 蓝精灵直播下载安装 小v视频官网 嘿嘿连载官网 木瓜视频下载安装 小天仙直播官网 玉米视频下载 BB直播官网 夜狼直播官网 月色直播下载安装 红楼直播下载 柠檬直播下载安装 性福宝官网 JAV名优馆下载 丝瓜官网 9uu官网 黄瓜视频人下载安装 成版人茄子视频下载 蜜桃直播官网 黄瓜下载 东京视频下载 小天仙直播官网 成版人抖音富二代下载 初恋直播下载安装 猛虎直播下载安装 花心社区官网 卡哇伊直播下载 豆奶抖音短视频官网 fi11含羞草下载安装 水蜜桃官网 食色下载安装 好嗨哟直播下载 最污直播下载 火辣直播下载安装 Avnight官网 swag台湾下载安装 遇见直播官网 梦鹿直播下载 久草视频下载安装 快播破解官网 橙子视频下载 污直播下载 花姬直播下载安装 成版人短视频下载 桃花直播官网 花仙子直播下载安装 妖妖直播下载安装 暖暖直播官网 成版人短视频下载 小米粒直播下载安装 番茄视频官网 泡芙视频下载安装 烟花巷直播官网 妖妖直播下载 麻豆传媒直播下载安装 红楼直播下载安装 樱花直播官网 兔子直播下载安装 月亮直播下载 草莓下载安装 梦鹿直播下载安装 JAV名优馆下载安装 牛牛视频官网 成人直播下载安装 卡哇伊直播官网 猫咪软件官网 大菠萝下载安装 一对一直播官网 丝瓜下载安装 橙子直播下载 91视频下载 黄瓜视频人下载安装 小v视频官网 黄瓜直播下载安装 和欢视频官网 快狐短视频下载安装 成人快手官网 彩云直播官网 花仙子直播下载安装 红杏视频下载 蓝颜下载 麻豆传媒视频下载 榴莲视频官网 香草成视频人官网 初恋直播下载 91香蕉视频下载 咪哒直播下载安装 泡芙下载安装 香蜜直播官网 AVnight下载安装 夜狼直播官网 蜜桃下载安装 奶茶视频官网 香蜜直播下载安装 微杏下载安装 花姿官网 食色短视频官网 咪哒直播官网 橙子直播下载安装 年轻人片下载 心上人直播官网 樱花视频下载 樱花直播下载 月夜直播官网 猛虎视频下载 茄子下载安装 樱花下载 食色短视频官网 小v视频下载安装 朵朵直播下载 菠萝菠萝蜜视频官网 萝卜视频官网 心上人直播下载 男人本色西瓜视频下载安装 冈本下载 尤蜜视频下载安装 富二代f2抖音下载 柚子直播下载安装 小狐仙直播官网 麻豆传媒映画下载安装 奶茶视频官网 迷雾直播下载安装 花狐狸直播下载安装 7秒鱼下载安装 向日葵视频下载 火辣直播官网 小优下载 彩色直播下载安装 小天仙直播官网 小怪兽官网 f2富二代下载安装 久草下载 大西瓜视频官网 ML聚合直播官网 雨云直播官网 抖阴直播官网 香蕉直播下载 抖阴视频官网 成人快手下载 菠萝蜜视频下载安装 含羞草视频下载 笔芯直播官网 套路直播下载 d2天堂下载安装 探花直播下载安装 小奶猫官网 花姿官网 大秀直播官网 成版人茄子视频下载 主播福利下载 享爱下载 黄瓜视频官网 迷雾直播下载 小喵直播下载安装 茄子下载 大象视频下载安装 啪嗒视频下载 花秀神器下载安装 黄色直播软件官网 花狐狸直播官网 一对一直播官网 丝瓜视频污官网 黄瓜视频官网 福利直播下载安装 丝瓜视频污官网 千层浪官网 黄瓜视频人下载 花样视频下载安装 十里桃花直播下载安装 富二代f2下载 小v视频官网 草莓直播下载安装 小优下载安装 木瓜视频下载安装 橘子直播下载安装 丝瓜视频官网 兔子直播下载安装 成版人音色短视频下载 七仙女直播下载安装 迷雾直播官网 樱桃视频下载安装 西瓜直播下载安装 泡芙短视频下载安装 小小影视下载安装 成版人抖音下载 泡芙视频下载安装 黄色直播软件下载 BB直播官网 享爱直播官网 小v视频官网 JAV名优馆下载安装 西瓜直播下载 fi11含羞草下载 黄瓜视频人下载安装 硬汉视频官网 棉花糖直播下载 心上人直播官网 小怪兽直播下载安装 享爱下载 大西瓜视频下载安装 花粥直播下载安装 月色直播官网 7秒鱼下载安装 夜猫视频下载 富二代f2抖音下载安装 依恋直播官网 橘子视频下载 雨燕直播官网 梦露直播官网 冈本下载安装 JAV名优馆下载安装 茶馆视频下载 卖肉直播下载 陌秀直播下载 草榴短视频下载安装 快狐下载安装 快猫下载 f2富二代官网 秀色小抖音下载安装 香蕉直播下载 春水堂下载 泡泡直播下载 水晶直播下载安装 恋夜秀场下载 云雨直播下载 抖阴视频下载安装 妖妖直播官网 花心视频下载安装 葫芦娃下载 ML聚合下载 光棍影院下载安装 心上人直播下载 夜猫视频下载安装 樱花官网 夜魅直播下载安装 雨云直播下载 灭火卫视下载 花心直播下载安装 菠萝菠萝蜜视频下载 swag视频官网 红娘直播官网 和欢视频下载 丝瓜视频污下载安装 小仙女官网 后宫下载 雨燕直播下载安装 幸福宝官网 金鱼直播下载安装 菠萝蜜官网 芭乐视频下载安装 富二代f2抖音下载 草榴直播官网 铁牛视频下载 芭乐下载 香蕉直播官网 享爱下载安装 遇见直播下载安装 麻豆传媒映画官网 皮卡丘直播官网 花粥直播官网 向日葵视频官网 成版人短视频下载安装 咪哒直播下载 蜜柚下载 蝴蝶直播下载 宅男之家下载 d2天堂下载安装 月色直播下载 梦鹿直播官网 大西瓜视频下载 花姬官网 咪哒下载 棉花糖直播下载 花姬下载安装 梦露直播下载 Avnight官网 望月直播下载 AVBOBO下载 快狐官网 一对一直播下载 名优馆下载安装 九尾狐直播下载安装 水果视频下载安装 荔枝视频下载 水仙直播下载安装 黄色直播软件官网 iavbobo官网 小蝌蚪官网 向日葵下载 含羞草视频下载 秀色小抖音下载安装 s8视频下载安装 含羞草下载 嘿嘿连载下载安装 杏趣直播下载安装 幸福宝官网 牛牛视频下载安装 主播大秀下载 后宫视频下载安装 爱爱视频下载安装 欢喜视频下载安装 浪浪视频官网 云上花直播官网 豆奶抖音短视频下载 梦露直播下载 iavbobo下载安装 七秒鱼直播下载安装 小猪视频下载安装 恋人直播下载安装 盘她下载 黄瓜下载安装 菠萝菠萝蜜视频下载 草莓直播下载安装 梦露直播下载安装 小猪视频下载安装 小小影视下载安装 bobo直播下载安装 啪嗒视频官网 夜夜直播官网 丝瓜草莓视频下载 夜遇直播号官网 小v视频下载安装 东京视频下载安装 迷雾直播下载 金屋藏娇直播间下载安装 BB直播官网 JOJO直播官网 性福宝官网 东京视频下载安装 免费黃色直播官网 蓝精灵直播下载安装 小可爱下载 富二代f2短视频官网 繁花直播下载安装 茄子官网 芭乐视频官网 笔芯直播下载 探探直播下载安装 云上花直播官网 含羞草视频官网 小喵直播官网 富二代f2抖音官网 久草下载 套路直播下载安装 木瓜官网 bobo直播官网 BB直播官网 菠萝蜜官网 富二代短视频下载安装 丝瓜官网 食色短视频下载 粉色视频下载安装 月亮视频下载 91视频官网 月夜直播官网 本色视频下载安装 ML聚合下载安装 青青草下载 夜猫视频下载 含羞草视频下载 iavbobo下载安装 咪哒下载安装 丝瓜下载安装 花心直播官网 杏吧直播下载安装 樱桃官网 猫咪软件官网 小奶狗视频下载 9uu官网 成版人茄子视频下载 千层浪下载 奶茶视频官网 彩色直播下载安装 金鱼直播官网 夜夜直播下载安装 Huluwa下载安装 麻豆视频官网 夜狼直播下载 91香蕉视频下载安装 欢喜视频下载安装 麻豆传媒视频官网 红杏视频下载 宅男之家下载 蝶恋花官网 乐购直播下载 鲍鱼视频下载 月亮直播下载 尤蜜视频下载 丝瓜视频污下载安装 探花直播下载安装 一对一直播下载安装 午夜神器官网 91香蕉官网 花仙子直播官网 樱花视频下载 年轻人片官网 小猪视频下载 可乐视频下载 月亮视频官网 小宝贝直播下载安装 小公主直播下载安装 Avbobo下载 小蝌蚪下载安装 直播盒子下载 大象视频官网 麻豆传媒视频下载安装 Avbobo官网 烟花巷官网 么么直播下载 番茄直播官网 杏趣直播官网 花仙子直播下载安装 香蕉直播下载安装 夜魅直播下载安装 夜猫视频官网 盘她直播下载安装 粉色视频下载安装 快狐下载安装 花姿直播下载 7秒鱼直播官网 花心视频官网 樱桃直播下载 猛虎直播官网 樱花下载 咪哒直播下载 樱桃视频官网 小酒窝直播官网 香蕉直播下载安装 逗趣直播下载安装 享受直播下载安装 久草下载安装 快狐官网 成人快手下载安装 抖阴官网 千层浪直播下载安装 快猫视频下载 恋人直播下载 荔枝下载 主播大秀下载 逗趣直播官网 health2下载 小喵直播官网 7秒鱼直播下载安装 水果视频官网 小狐仙直播官网 丝瓜草莓视频下载 小优下载安装 富二代下载安装 微杏下载 污直播官网 东京视频下载 泡芙视频下载 圣女直播下载 和欢视频官网 草莓官网 尤蜜视频下载安装 草榴短视频下载安装 桃花下载安装 雨云直播下载安装 小宝贝直播官网 小宝贝直播下载安装 快猫官网 暗夜直播下载 卖肉直播官网 咪哒直播下载 花友直播下载安装 兔子直播官网 彩云直播下载 玉米视频下载 月亮视频官网 杏花直播下载 橘子视频官网 年华直播下载安装 春水堂视频下载安装 东京视频官网 盘他官网 秋葵视频官网 成版人音色短视频官网 可乐视频下载 葡萄视频官网 快狐短视频下载 丝瓜视频污下载 盘她下载 花心社区下载安装 向日葵下载安装 花椒直播下载 樱桃视频官网 菠萝蜜视频下载 月色直播下载安装 兔子直播下载安装 成版人音色短视频下载安装 ML聚合直播下载 彩云直播官网 蝴蝶直播下载 繁花直播官网 杏趣直播下载 丝瓜视频污官网 牛牛视频下载 小蝌蚪视频官网 梦幻直播下载安装 香草视频官网 乐购直播官网 冈本下载安装 云上花直播下载安装 丝瓜视频污下载 盘她s直播下载安装 仙人掌下载安装 成版人抖音富二代官网 探探直播下载安装 彩云直播官网 圣女直播下载安装 梦幻直播官网 富二代短视频下载 91香蕉官网 小狐仙直播官网 盘她直播下载安装 黄瓜直播下载 野花视频下载 桃花下载安装 水蜜桃官网 抖阴下载安装 初恋视频下载 望月直播下载 草榴短视频下载安装 成版人短视频下载 乐购直播下载安装 茄子视频下载安装 泡芙官网 BB直播下载安装 7秒鱼下载安装 7秒鱼下载安装 荔枝下载安装 逗趣直播官网 主播福利官网 草莓视频下载安装 小米粒直播下载 免费黃色直播下载 JAV名优馆下载 丝瓜下载 樱桃视频下载安装 年轻人片官网 云上花下载安装 花心直播下载 年华直播下载安装 番茄直播官网 红杏视频下载 黄页荔枝下载 iavbobo下载安装 水果视频下载 比心直播官网 比心直播官网 陌秀直播下载 梦幻直播下载安装 蓝精灵直播官网 火爆社区官网 望月直播下载安装 和欢视频下载 音色短视频官网 灭火卫视官网 水蜜桃官网 污直播官网 丝瓜视频下载 花心直播下载 佳丽直播官网 MM直播官网 d2天堂下载 污软件下载安装 小宝贝直播下载 烟花巷下载安装 杏趣直播下载安装 冈本视频官网 杏花直播官网 污软件下载 小草视频下载安装 蝶恋花直播下载安装 金鱼直播下载 佳丽直播官网 逗趣直播下载 麻豆传媒映画官网 柠檬视频官网 牛牛视频下载安装 富二代短视频下载安装 福利直播官网 柚子直播下载 黄瓜视频下载 秀色小抖音下载 夜狼直播下载 花心视频下载 烟花巷官网 薰衣草直播下载 向日葵下载 尤蜜下载安装 盘她下载安装 陌秀直播官网 内裤直播下载安装 一对一直播下载 小优下载 木瓜下载 繁花直播下载 芭乐官网 小宝贝直播下载 木瓜下载 茄子视频官网 柠檬视频下载安装 草榴短视频下载 最污直播下载安装 咪哒官网 套路直播下载 小怪兽直播官网 朵朵直播官网 性直播下载 男人本色西瓜视频下载安装 花样视频下载 富二代f2抖音下载 青青草官网 迷雾直播下载 富二代短视频下载安装 一对一直播下载安装 咪咪直播下载安装 一对一直播下载安装 成版人快手下载安装 月光直播官网 黄瓜视频人下载 小蝌蚪下载 樱花雨直播下载安装 月亮直播下载 冈本官网 内裤直播官网 香蜜直播官网 樱桃直播官网 菠萝蜜视频下载安装 骚虎直播下载安装 直播盒子下载安装 小宝贝直播官网 雨燕直播官网 樱花直播下载 麻豆传媒下载 丝瓜草莓视频下载安装 豌豆直播下载安装 木瓜视频下载 小狐仙下载 斗艳直播下载 菠萝菠萝蜜视频官网 年轻人片下载 小可爱官网 蓝精灵直播官网 享爱下载安装 十里桃花直播官网 套路直播官网 盘他下载安装 成人直播下载安装 野花视频下载安装 圣女直播官网 夜猫视频下载安装 葫芦娃视频下载 麻豆传媒映画下载 黄瓜视频下载 大菠萝下载 大西瓜视频下载 乐购直播下载 夜夜直播官网 十里桃花直播下载安装 小仙女下载安装 十里桃花直播下载 水晶直播官网 夜魅直播下载 烟花巷直播官网 七秒鱼直播下载 秀色小抖音下载安装 名优馆官网 咪咪直播下载 avgo下载安装 豆奶下载安装 七秒鱼直播下载 成人直播下载 春水堂视频下载安装 蝶恋花官网 内裤直播官网 陌秀直播下载 蓝颜下载安装 佳丽直播下载 小天仙直播下载 冈本下载 黄瓜视频人下载安装 咪咪直播下载 咪哒直播下载安装 黄瓜直播下载安装 葫芦娃下载安装 小怪兽官网 草榴短视频官网 抖阴视频官网 遇见直播下载 向日葵下载 夏娃直播官网 抖阴视频官网 抖阴直播下载安装 橘子视频下载 遇见直播下载 麻豆传媒下载安装 蜜柚直播官网 番茄视频下载安装 嘿嘿连载下载安装 佳丽直播下载 杏趣直播官网 月亮视频官网 豆奶抖音短视频下载 灭火卫视官网