Rate increases will also depend on the outlook for inflation and the labour market. In my presentation today I will consider some issues related to inflationary pressures with a focus on the behaviour of exchange rates, both real and nominal.
(3) On that basis, we have taken active measures to develop large enterprise groups which are competitive and further revitalize the small and medium-sized SOEs. Some SOEs have already established reputation in the world. Such well performing enterprises as China Mobile, SINOPEC, PICC Property & Casualty Co. Ltd and CASIC have successfully launched their IPOs overseas.