According to the Hong Kong government press release, Hong Kong Financial Secretary Paul Chan said at the event today that as of the end of March this year, the number of registered funds in Hong Kong reached 976, with a net inflow of more than US $44 billion a year, an increase of 285%. Family offices are expected to soon increase from 2,700 to 3,000. Hong Kong will become the world's leading cross-border asset management center in two to three years. In terms of financial innovation, there has been a lot of interest in digital assets recently. In particular, the issuance of stablecoins has caused a lively discussion. The legislative work of stablecoins has made Hong Kong one of the first jurisdictions in the world to establish a statutory regulatory framework for stablecoins. We have embraced the development of digital assets and have accelerated the improvement of relevant legal and regulatory frameworks in recent years. For example, the licensing system for virtual asset trading platforms has issued 10 licenses and is in the process of approving another eight applications.