Zhu Guangyao

We do recognize the risk the global economy faces, we also understand how important it is to correctly communicate with the market.

There is a mismatch for supervision, and that is a real challenge, after the big up and the big down we saw, we need to learn from other countries, mature stock markets including the U.S. and U.K.

(In) some cases certainly the borrower should take their responsibility, we've been very clear that's a market principle but we also emphasize we must avoid any negative impact to the regional and the systemic financial risk, we have full confidence that we have the real capacity to (keep) ... our financial system healthy and sustainable.

In accordance with the State Council's plans, we will turn such short-term financing into long-term financing, and the size for 2015 is 1 trillion yuan, this will help reduce the funding costs and reduce risks.

The pre-condition for our deleveraging is to maintain relatively... by Zhu Guangyao

The pre-condition for our deleveraging is to maintain relatively stable economic growth.