And in the formulation of macroeconomic policies, I will benefit from my front-line working experiences. I will seek to make great contributions to the work of the PBC Shanghai Head Office. As writing a TV play, managing the financial system is also an art.
The regional insurance market is becoming highly competitive as we see more entrants, both established international firms and local companies, offering a growing range of services, including medical and life coverage. Although insurance penetration rates in the region are still relatively low, in the long run not all the firms currently competing in the market will be able to build viable franchises.