Title: Comprehensively Strengthening Supervision and the Barrier to Cross-border Financial Security

China Forex: The year 2023 marks the first year to fully embrace the spirit of the 20th National Congress of the Communist Party of China. Could you provide an overview of the key initiatives undertaken by the Supervision and Inspection Department throughout the year?

HU Chunyu: Throughout 2023, under the resolute guidance of the Party Central Committee and the State Council, the Supervision and Inspection Department meticulously executed the directives set forth by the CPC SAFE Leadership Group. Our approach encompassed a thorough study and implementation of the spirit of the 20th CPC National Congress. And we dedicated ourselves to comprehensive themed education and the consolidation and expansion of central inspection rectification efforts. Upholding the principle of law-based administration, we have enhanced the quality and efficiency of foreign exchange inspection, which has led to investigation and settlement of more than 970 cases of foreign exchange violations in the course of 2023, imposing fines and confiscating more than 1.7 billion yuan in value. This robust action has been an effective deterrent to illegal foreign exchange activities, thereby fostering a more stable environment within the foreign exchange market.