MR CHAN KIN-POR (in Cantonese): Thank you, President. Cross-boundary WMC has seen steady development over the past two years. May I ask whether the Bureau will expand the scope of eligible products to cover insurance products?
SECRETARY FOR FINANCIAL SERVICES AND THE TREASURY (in Cantonese): Thank you, President. As I have explained in my reply to the supplementary questions raised by the two Members just now, Cross boundary WMC is an innovative financial cooperation measure in GBA involving three different regulatory systems. We have all along been upholding the principle of prudence while implementing the scheme in nine Mainland cities under a pilot approach in a gradual and incremental manner. The relevant regulators of the three places maintain close collaboration with each other on the basis of their existing regulatory frameworks and practices, with a view to seeking flexibility in policy formulation and implementation. We will continue to monitor the operation of Cross-boundary WMC and the market development, and consider any further enhancement measures if needed. As for the types of products that we are currently striving to promote, I have already answered that in my main reply and reply to Mr LIAO’s supplementary question and I have nothing to add. Thank you, President.