Thank you, Chair.
Ms. Ong, you talked about how we deal with the financial aspects of Hong Kong. As I see it, China wants to show that it can repress the people of Hong Kong with the security law and still obtain the benefits of the financial advantages of having Hong Kong in place. It's a bit of a tightrope to me. How do we move China towards a rules-based system while keeping Hong Kong in the same situation as it is?
I take it you see that what the U.S. is doing by erasing the difference between financial measures towards Hong Kong businesses versus mainland businesses is not effective, but what would be effective in terms of moving the dial towards the expectation that China should follow these rules, or is that a long-term strategy rather than a short-term one?