You will discuss a paper on how technical developments will allow a more precise monitoring of financial risks of climate change. For example, how we could better analyze the degree of concentration in the portfolios of financial institutions and investors and how it affects financial stability. Second, another important trend is that financial institutions are crucially vulnerable to cyber risks.
I believe those issues will be gradually resolved, and the financial market will be more transparent and healthy. This July, the National Financial Work Conference emphasized the need to attach importance to local government debt risks. At the same time, we should note that compared with the private sector debt and external debt, the risks in the government debt are relatively low.