Domestically, our macro variables such as interest rates, the RMB exchange rate, economic growth rate and unemployment rate are reasonable, coordinated, and stable, which helps a lot in preventing systemic financial risks. At the same time, we have taken a series of measures to contain financial risks and we have firmly defended the bottom line whereby no systemic risks will occur.
We've steadily and properly defused the risks of key enterprise groups and financial institutions. The number of high-risk small and medium-sized financial institutions has fallen by half from the peak of over 600 to over 300. The aggregate scale of high-risk "quasi-credit" shadow banks has been slashed by about RMB30 trillion. Nearly 5,000 P2P online lenders have been shut down.