mirror that evolution. haslinda: chinese companies in hong kong account for 70% of the market cap. david, thank you. let's bring in the head of asia-pacific research at julius baer. mark, when you look at markets in hong kong and china, investors are looking at the covid zero policy. we heard nothing about that from xi jinping and from john lee. how are you assessing the speeches made by the two gentlemen? >> i don't want to sound like a spokesperson for the government of china, because clearly i am not good but i think it was a very nice speech, a resounding endorsement of hong kong, both inclusive in china, and also saying that hong kong has an important role to play as a global financial center. so the tone was very positive, and as stephen said, a very soft and kind tone, not an iron fist. i was eavesdropping on your conversation, and i agree that the comments on property were interesting, and the youth. we all know that the wealth divide is large in hong kong. property, apart from monaco, is the most expensive in the world. that is a clear signal that there will be more public property. and as