We will further fine-tune our methodologies next year to better assess the risks arising from the outsourcing of critical functions and technological innovation. Assets managed by alternative funds - those investing in real estate, unlisted companies or loans - have continued to increase; at over € billion, they now account for almost one third of the total assets of Italian investment funds.
Over the next five years, China carried out a series of reforms on the financial institutions, including not only the commercial banks, but also the rural credit unions and other financial institutions, such as security firms and insurance companies. The decision to carry out reforms was the result of lessons learned, and it also laid a foundation for future development.