 Well, Professor Jin, welcome to Sydney, welcome to the Lowy Institute. Thank you. We witnessed last weekend a very important summit in California between President Xi and President Obama. What did you see out of that conference? What were some of the practical things that came out of it? I think from Chinese perspective, we achieved quite a lot. Before the summit, the high-ranking officers in foreign ministry made it very clear. We have three expectations. One is personal friendship between the two leaders, and I think they established some understanding at least. Second, China want to have a clear response for China's new concept initiated by Chinese side, so-called new type of major power relations, and we think we get some positive response from the US side. And third, China want to have a mechanism to make the differences or dispute under control and to explore the opportunity for cooperation. And we also believe the two leaders achieve something on this respect. Let's focus on that one phrase, a new type of great power relations. What's the subtext of that phrase? Why did China choose to introduce that phrase into the lexicon? Okay. Okay. China aware this fact, now China's GDP ranking number two, and in the history of the United States, the states always take a very alertive attitude to any number two countries, Germany, Soviet Union, Japan. Now it's time of China. So China want to avoid the tragic relationship between number one and number two. So I think that's the immediate concern to escape from that tragic circle. But how to define this new concept of major power relations, I think it's a practical issue depends on the future policy of both sides. At the moment, what we can see is that both leaders agree with this point, we should avoid direct military conflict. In order to achieve that, we need to have more contacts to set up some mechanism that can put the differences under control. And the second, we should try to explore more cooperation opportunity. Is it also perhaps an attempt to create an exclusive club of two, a G2 of great powers? I think both leaders are weird, G2 is something politically incorrect. So nobody want to use that term. But I tend to see both side want to have a real so-called concert of big power relations. And just lastly, you're here today for a roundtable discussion about territorial disputes in the East China Sea and the South China Sea. Did you see any movement on that issue out of the Obama summit last weekend? Unfortunately, no. Before the summit, the US side put very specific five issues. So different from Chinese side, the Chinese side just put forward three expectations. And the US side put five very specific issues. Let's reflect, the US is very commercial-oriented nation. They have five issues on the table, North Korean. The marine time dispute in Asia, and military to military contacts and cybersecurity, then climate change. And I think except the marine time dispute, all the other side will have achieved something. But just on this key issue, I think no progress at all. Professor, thank you very much for your time. My pleasure.