Bloomberg: 

Question from Bloomberg. Two questions, actually. So the first one is regarding companies that manage data and who are seeking overseas IPOs. I wonder if you could tell us some of the latest details, for example, how many such applications has the CAC processed? And how are those reviews conducted? Are they, for example, conducted under a tiered approval system according to the sensitivity of the level of a company's data, as reported by some media? The second question is about Didi. Its app hasn't resumed yet and that has led to some speculation that there might be more regulatory requirements pending or more regulatory actions pending. Can you share the latest progress in the case? And does the $1.2 billion fine you mentioned mean that your probe has finished? Is it concluded? And can Didi expect to soon get back to signing up new users and pursuing its expansion plans? Thank you very much.

Niu Yibing:

Thank you for your question. Indeed, your question is of very high interest and targeted. I'd like to refer this question to Ms. Sun Weimin.

Sun Weimin:

First of all, I will answer the first question. In alliance with the requirements of the Cybersecurity Law, the Data Security Law, the Personal Information Protection Law, and other laws and regulations, the CAC, together with relevant departments, revised the Methods on Cybersecurity Review, which began to be formally implemented on Feb. 15 this year. The revised methods require that any online platform operators' data processing activities that affect or may affect national security must be reviewed. Moreover, it stipulates that online platform operators having personal information of more than 1 million users must declare to the Cyberspace Security Review Office for review when seeking for overseas listing. According to the methods, the authorities will review online platform operators pursuing overseas listing, assessing risks of critical data, important data or a large amount of personal information being stolen, leaked, damaged, illegally used, and illegally exiting the country that may be brought about by listing overseas. They will also review risks to key information infrastructure, critical data, important data or a large amount of personal information being influenced, controlled, and maliciously used by foreign governments. Finally, they review the risks of online information security and other factors. We always support domestic enterprises that rationally use overseas capital markets for financing and development in accordance with laws and regulations. Opening-up is a fundamental state policy of China and a distinctive feature of contemporary China. The country will not change its resolve to open wider at a high standard, to share development opportunities with the rest of the world, and to make economic globalization more open, inclusive, balanced, and beneficial to all. This is my answer to your first question.

Second question. In July last year, to prevent national data security risks, safeguard national security, and guarantee the public interest, the Cyberspace Security Review Office conducted a cybersecurity review on Didi Chuxing in accordance with the National Security Law, the Cybersecurity Law, and the Methods on Cybersecurity Review. Next, the CAC will guide and urge Didi to rectify and eliminate potential security risks appropriately. We will strengthen law enforcement in cybersecurity, data security, and personal information protection. We will deal with illegal acts that endanger national cybersecurity and data security and infringe on citizens' personal information in accordance with laws. We will safeguard national cybersecurity, data security, and the public interest, and effectively protect the legitimate rights and interests of the people. Thank you.