CHINA FOREX: The year 2024 was the first year for fully implementing the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC). Could you please introduce the main tasks of the SAFE's Supervision and Inspection Department in 2024?

HU Chunyu: In 2024, the foreign exchange inspection department, guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and firmly under the strong leadership of the CPC Leadership Group of the State Administration of Foreign Exchange (SAFE), comprehensively studied and implemented the spirit of the Third Plenary Session of the 20th CPC Central Committee. The department earnestly conducted studies and education on Party discipline and exercised law-based administration. In 2024, the department addressed over 1,000 cases of foreign exchange violations, imposing fines and confiscating funds totaling over 1.1 billion yuan. These actions significantly deterred various entities engaged in such violations and contributed to the stability and efficiency of the foreign exchange market.