Recent media reports showed that the outbreak has affected mergers and acquisitions as well as IPOs, where there has been a sharp drop in volume. Did the China Securities Regulatory Commission (CSRC) evaluate the impact of the epidemic on M&As and IPOs? What measures will the CSRC adopt to properly deal with the situation in the future? Thank you.
After the outbreak, due to the difficulty of on-site due diligence, auditing and evaluation, some stock issuances and M&As have indeed been affected to some extent. Recently, we have made targeted arrangements in particular, such as extending the time limits for feedback from issuers and for M&A businesses. In terms of auditing, we are making efforts on the "three normals": the normal issuance of initial approval documents, normal promotion of auditing progress, and normal licensing and acceptance of M&As and restructuring. Thank you.