At the same time, the marginal benefit of further purchases is steadily declining, with market participants already bracing themselves for a certain degree of “normalisation". It is for the ECB Governing Council to decide when and how such a course of normalisation will take place. I cannot, and would not wish to, speculate on this matter.
Second, it can be realized via setting up financial institution on a reciprocal basis. Therefore, it is suggested that we make full use of the “try it out” Policy sanctioned by the Central Government by establishing a “special passage” for Macao financial institutions to go to Guangdong Province, allowing Macao financial institution to establish branches/subsidiaries with lower threshold prescribed by CEPA.