I would like to share the latest FinTech developments in China and some of our observations. First, updates on FinTech developments in China. Over recent years, FinTech has been developing rapidly and robustly in China. Financial institutions made continued efforts to promote digital transformation. Financial products and tools became more diversified, and financial services more efficient and inclusive.
With wide coverage of e-payment, in particular mobile payment, basic financial services are now available across the whole country. Even in the most remote areas, every adult has his or her own bank account. China now ranks high in terms of the coverage and volume of mobile payments. This enables real time processing of deposit, withdrawal and remittance.