 In ancient crisis of 1998, Mahadeya Muhammad, former prime minister of Malaysia, implemented a serious micro-policy which considered to be an orthodox by IMF, expressionary monetary policy, national and national private businesses. Ironically, 10 years later, Mahadeya's orthodox policies become orthodox in United States. QE policies do sell well from global crisis, but do not for job. As a guy on the right side, take a bold saying, bring back our job from China. But China also knows the main jobs in 2009. The government's response is the so-called four trillion-dollar policy, staying on banks and then money to stay on the companies which tricked furious competition in Nan Augustine. This guy in Nan Augustine closed his eyes because the land price was so high. Expansionary policy announced a real deal, no government to pursue GDP growth by building many new cities, ghost cities, new apartment, broad road, but no residents. Expansionary policy also squeezed out small private businesses and forced them to rely more on the ground fundraising. There was a famous case in 2012 when the sixth richest woman in China was sentenced to death with two-year proof. Chinese stock market has deep structural problems and expressionary policy makes things worse. This is disappointing in Western with more than 10 years experience in the stock market. The slogan says, stock market should pay more dividends, pay more dividends. In short, we need reform. The 1978 since the beginning of reform and opening up, but at that time there was no consensus on the goal of reform, let alone how to reform. So we had to cross river by filling stones and made many mistakes. The biggest mistake is to allow local government to control financial resources and resulted asset bubble and high inflation. So in 1993, a new round of reform was launched to build a socialist market economy in which market play basic role in resource allocation. But the goal of 1993 was not achieved to a large extent. So in 2013, a new profound holistic reform was launched. Both 1993 and the 2013 reform are top-level design, but differences are remarkable. As Chinese ancient philosopher Lao Tse said, ruling a great nation is just like cooking a small delicacy. The key to reform is right relationship between market and government. That is, to let market play decisive role in resource allocation. To that end, as Nobel laureate Kerr said, the fourth thing is right assignment and protection of property rights. Quite different from past reforms, in 2013, where high-nights protection of non-state-owned property rights and mixed ownership economy, which were left foundation for future capital market. The gap of financial industry to private business is also an important issue. In fact, some private businesses have already performed financial function, such as Alibaba and Taobao. Although China has made significant progress in science and technology, such as number one supercomputer in the world. But many Chinese innovative companies are listed on overseas market. So reform in science and technology system will change the dilemma. Chinese film, like this one, American Dream in China, while making box office record domestically, cannot make dream come true in overseas market. So private capital will bring about both investment and creative idea for movie industry. The 2013 reform package will change Chinese financial system dramatically. But to succeed, the first thing, the first and foremost thing is how to build a good governance. As Reagan said, in a present crisis, government is not solution to our problems. Government is a problem. Thank you.