So for any listeners out there, It would be great if you could give us a sense of the size of the asset management industry in Singapore and how this compares with, say, other financial jurisdictions.

Right.

Well, let's start with the map.

As they say, geography is destiny.

So Singapore is about, give or take, 735 square kilometers, depending on whether it's high tide or low tide.

That's about two-thirds the size of Hong Kong and a shade smaller than the five boroughs of New York City.

and about a fifth of the size of Rhode Island.

But if we may, Kersheng, touch a little bit on growth and competitiveness and this whole theme that financial jurisdictions have been pursuing for several years now but it's really become quite striking in terms of the direction of travel and how jurisdictions across the world are really pursuing this theme around growth and competitiveness why has it become such an important issue for financial centers across the world and And that would, of course, be the APAC region.