Furthermore, we cannot, based on the latest short-term data, jump to the conclusion that this problem can be easily solved. In the second scenario, U.S. household savings rate goes up, and thus the U.S. consumes fewer Chinese products. Subsequently, China will see greater excess capacity, lower equipment utilization, job losses, and a path for slower GDP growth.
The fifth point is that the Bank is participating in the international discussions on regulation and supervision and is engaged in the review of such regulation and supervision. Reflecting the globalization of finance, there is a growing tendency for the broad framework of financial regulation and supervision to be determined in international discussions.