We are very much encouraged by the report delivered to the 20th National Congress of the Communist Party of China. We firmly believe that China will further actively embrace the global financial market, providing more opportunities for foreign financial institutions in China.

China is a key part of our Asia Pacific and global strategy. Credit Suisse sees China as more than a growth market with immense potential, but also a place that offers opportunities for collaboration and mutual benefits. Credit Suisse will continue to enhance local platforms, grow local talents, bridge China's opportunities and international capital through diversified products and services, and is committed to achieving high-quality development together with China's financial market.