Today we are joined by Liu Baocheng, dean of the Center for International Business Ethics at University of International Business and Economics. Welcome, Mr. Liu.

Q1. The MIIT sounded quite upbeat about the industrial numbers, pointing out the positive structural changes -- what's your assessment?

Q2. We've seen the results of cutting capacity in steel and coal, more than 80% of the cuts have been made, what will ensure that the capacity doesn't bounce back, and also that the remaining capacity is truly efficient and competitive?