We began our preparations a long time ago and I am confident that the ESCB will be in a position to deliver its entire complex infrastructure to the markets by the morning of 4 January 1999.
Drawing on the historical lessons of non performing loans buildup when credits were highly concentrated in the processing industry (such as refrigerators, color TVs and washing machines) in early 1980’s and the real estate sector in early 1990’s (the real estate bubble in Hainan Province and in Beihai City of Guangxi Province), close attention shall be paid to the issue of real estate lending concentration so as to guide commercial banks to expand other lending businesses in a timely manner.