We launch our ESG Data Analytics series, using artificial intelligence to spotanomalies in environmental, social and governance topics. We identify ChinaInternet, media and financial sectors as the most vulnerable to cybersecurity anddata breaches, with 40-50% of the companies in these sectors having beenpublicly criticized by authorities on these issues or had customer complaints ondata leakages, among others. We believe implementation of the Data SecurityLaw on 1 Sept and Personal Information Protection Law on 1 Nov will provideregulatory clarity for sector participants. The regulation has legitimized properdata collection and is positive for the Internet sector’s long-term outlook. Earningsimpact in the near-term is manageable at single-digit level. Banks will also benefitfrom the new laws because they were more strictly regulated on data collectionpreviously. This will help level their playing field with Internet companies.