On November 8th, Minister of Finance Lan Foan introduced at a press conference that this year, due to various factors, the central and local fiscal revenue has fallen short of expectations. In this regard, we are taking a series of measures to ensure the completion of the annual budget targets. From a local perspective, we have set out a limit of 400 billion yuan for local government debt balances to supplement the comprehensive financial resources of local governments; encourage local governments to revitalize government stock resources and assets with conditions, strengthen the management of state-owned capital income, and ensure fiscal expenditure needs. If necessary, local governments also have stock funds such as the Budget Stabilization Adjustment Fund that can be used. In short, we have sufficient policy tools and resources to ensure that the national fiscal revenue and expenditure can be balanced this year, and key expenditures will not be reduced.