The next adjustment will come in the foreign exchange market.

The yuan is no longer pegged to the US dollar and will not see further official adjustment.

If we sell large quantities of U.S. treasuries, it would cause the price to plunge. We're not going to do that.

So there is no need to rely on administrative adjustment any more.

I'd like to tell everyone, the next change in the (yuan exchange rate level) is happening everyday. Every hour it is going on.

In terms of sensitive phrases, we will use laws and regulations to deal with this.