2. Internationally, most major economies also adopt the mode of financial holding companies, with financial subsidiaries operating separately. As I just gave you a brief introduction in the first question, this institutional framework arrangement makes the ownership structure and organizational structure more simple, clear and identifiable, which is conducive to better isolating risks, strengthening corporate governance and risk control of the Group as a whole, and also meets the requirements of modern financial supervision.
3. The implementation of financial control measures is actually a perfection and supplement to the current separate operation and supervision pattern of China's financial industry. There are some clear statements in the financial regulation measures issued by the People's Bank of China. Financial holding companies conduct unified equity investment and management, and financial institutions controlled by them operate specific financial businesses, insisting on separate operations. The People's Bank of China comprehensively supervises financial holding companies from the perspective of macro-prudential management. The financial management department shall, in accordance with the division of responsibilities, respectively supervise the financial institutions controlled by financial holding companies. From these statements, we can clearly see that the implementation of the Measures for Financial Supervision has not changed the current pattern of separate operation and supervision of China's financial industry, but has improved and supplemented the current pattern. The People's Bank of China will also establish an inter-departmental working mechanism with relevant departments, strengthen regulatory cooperation and information sharing, form a joint regulatory force, and promote the standardized and healthy development of financial holding companies. Thank you.
Reply time: 202 1- 12-20. Please refer to the latest business changes announced by Ping An Bank in official website.