Thank you for having this interview with us to answer questions of common concern. Xiang: Thank you. As you said, the establishment of the PBC Shanghai Head Office has been widely covered by the media. I have read the relevant reports and commentaries. I would like to thank the press for their concern and support for the PBC Shanghai Head Office.
Reporter: Since China adopted the reform and opening-up policy, the central bank has undergone several institutional changes. In 1984, the State Council decided to have the PBC act solely as a central bank. In 1995, the law of the People’s Republic of China on the People’s Bank of China legally confirmed the central bank status of the PBC.