billchoa/3036384256-COMP7607-data huggingface dataset:
user: Please translate the following sentence from English to Chinese: This is a big change from the past, when there were just two or three cases per year.

assistant: 相比過往每年只有兩、三宗個案，這個變化甚爲顯著。
user: Please translate the following sentence from English to Chinese: 28. The Commission engaged an independent research centre to carry out a targeted survey on warrant investors.

assistant: 28. 證監會委託了一家獨立研究中心進行以權證投資者爲對象的調查。
user: Please translate the following sentence from English to Chinese: Hong Kong as an asset management hub To become an important asset management hub in Asia and in the world, it is necessary not only to attract capital from various sources but also to have a critical mass of investment products and talents.

assistant: 香港作爲資產管理中心的策略 要成爲一個亞洲甚至世界上重要的資產管理中心，一方面需要吸引各方面的資金，另一方面必須有充分的投資產品及相關人才配合。
user: Please translate the following sentence from English to Chinese: This was not only Hong Kong’s largest IPO ever but also the world’s largest ever.

assistant: 是項不僅是香港歷來最大規模的首次公開招股，亦是全球有史以來最大規模的。
user: Please translate the following sentence from English to Chinese: I believe that the rapid rise of the Chinese economy provides ample opportunities for both Shanghai and Hong Kong to serve the needs of the country.

assistant: 我相信，中國經濟的迅速崛起能爲滬港兩地提供足夠機會去滿足國家的需要。
user: Please translate the following sentence from English to Chinese:  the first ETF tracking the China A-share market (the iShares FTSE/Xinhua A50 China Tracker) in 2004, the first ETF in the world to offer investors outside the Mainland access to the A-share market in China;

assistant: 2004 年推出首隻追蹤中國 A 股市場的 ETF（iShares 安碩新華富時 A50 中國指數 ETF），成爲全球首隻讓中國內地境外投資者涉足中國 A 股市 場的 ETF；
user: Please translate the following sentence from English to Chinese: Conduct The Code of Conduct (Code) sets the benchmark for intermediary conduct and core requirements such as the need to ensure suitability.

assistant: 行爲操守證監會的《操守準則》載列中介人行爲操守的標準及核心規定，例如中介人須確保產品適合客戶投資等。
user: Please translate the following sentence from English to Chinese: If fully exercised, the conversion shares would represent more than half of the enlarged issued share capital.

assistant: 若可換股債券獲全數行使，所得的股份將會佔經擴大已發行股本超過一半。
user: Please translate the following sentence from English to Chinese: Overall, I think it is most important to build mutual trust between the Chairman and the CEO.

assistant: 整體而言，我相信最重要的是在主席與行政總裁之間建立互信。
user: Please translate the following sentence from English to Chinese: ii) Secondly, we propose facilitating both further issues and identical issues. This will help alleviate price anomalies and enhance market competition.

assistant: ii) 其次，我們建議利便增發及相同權證的發行，這樣做將有助緩和價格異常的現象及加強市場競爭。
user: Please translate the following sentence from English to Chinese: In assessing whether there is a change in de facto control, the following will be taken into account:

assistant: 在評估實際控制權是否有轉變時，將考慮以下因素：
user: Please translate the following sentence from English to Chinese: Very few senior executives were prosecuted.

assistant: 被檢控的高層人員爲數極少。
user: Please translate the following sentence from English to Chinese: 50. At the same time, we must also ensure that our investor education efforts meet the varying needs of our bigger and more diverse investor base.

assistant: 50. 與此同時，我們亦必須確保我們的投資者教育工作能夠滿足我們已變得更大和更多元化的投資社羣的不同需要。
user: Please translate the following sentence from English to Chinese: As is the case with all new products, asset managers must use not just their skills and capacity for innovation, but also their commitment to excellence and their willingness to put their clients’ interests first.

assistant: 不論發展任何新產品，資產經理必須運用專業知識、推陳出新，並要致力提供卓越的服務，願意以客戶的利益爲先。
user: Please translate the following sentence from English to Chinese: The continued health of our fund managers is a top priority.

assistant: 確保基金經理能夠持續穩健地運作，是我們的首要工作。
user: Please translate the following sentence from English to Chinese: Next, I will discuss how securities regulators are trying to deal with these challenges on an international level together with other international organisations (i.e. the World Bank and IMF).

assistant: 然後，我便會討論證券監管者正在如何嘗試在國際層面上與其他國際性組織(即世界銀行及國際貨幣基金組織)合作，共同應付這些挑戰。
user: Please translate the following sentence from English to Chinese: In the years leading up to the Asian Crisis, the five affected countries received a net capital inflow of around $120 billion in 1996.

assistant: 在亞洲金融危機前夕，五個受影響的國家在 1996 年錄得約 1,200 億元的淨資金流入。
user: Please translate the following sentence from English to Chinese: The revisions we made to our Code on Unit Trusts and Mutual Funds this year include detailed requirements for authorized funds using these sorts of instruments to achieve their investment objectives. These cover things like the credit quality and independence of the issuers of the instruments, valuation of financial derivative instruments, limits on counterparty exposures of the funds, requirements for collateral and management of collateral, and risk management and contingency planning on the part of the fund manager.

assistant: 今年，我們修訂了《單位信託及互惠基金守則》，對利用這類金融工具達到投資目標的認可基金，列出更詳細的規定，涵蓋範圍包括金融工具發行商的信貸素質及是否具獨立性、金融衍生工具的估值，對基金的交易對手風險進行限制、對抵押品及其管理訂下規定，以及對基金經理的風險管理及應變措施提出要求。
user: Please translate the following sentence from English to Chinese: But events that unfolded during the 2008 financial crisis told regulators around the world that a firm-focused regulatory regime that looks only at prudential and conduct issues of each firm is not sufficient.

assistant: 不過，2008 年金融危機令全球的監管機構領悟到，過去以公司爲焦點，只對每家公司進行審慎監督及操守監督的的監管制度並不足夠。
user: Please translate the following sentence from English to Chinese: One is the exposure of large banks to hedge funds that have been driving the liquidity of the credit and derivatives market.

assistant: 其一是大型銀行需承受對沖基金帶來的風險，而後者一直以來都在帶動著信貸及衍生工具巿場的流通性。
user: Please translate the following sentence from English to Chinese: Like the enhanced disclosure requirements, we have deferred implementation of the Guidelines for the marketing materials of existing funds until 31 March 2009, and possibly to 30 June 2009 for individual cases.

assistant: 與加強信息披露規定一樣，我們將延至 2009 年 3 月 31 日纔對現有基金的推廣材料實施有關指引，有個別情況更可能延至 2009 年 6 月 30 日。
user: Please translate the following sentence from English to Chinese: Inadequate due diligence on products

assistant: 對產品進行的盡職審查不足
user: Please translate the following sentence from English to Chinese: Corporate governance So how can a company enhance its value, and be able to capitalize on the global liquidity?

assistant: 企業管治 那麼，一家公司如何才能提高其價值及儘量利用全球的流動資金呢？
user: Please translate the following sentence from English to Chinese: We welcome the emergence of this trend.

assistant: 我們樂於看見這發展趨勢。
user: Please translate the following sentence from English to Chinese: Here, I feel obliged to reiterate that these new measures do not seek to increase the SFC’s powers, nor to make Managers-In-Charge more liable to disciplinary action.

assistant: 我有責任在此重申，這些新措施沒有試圖增加證監會的權力，亦沒有加添核心職能主管可能承受的紀律處分行動。
user: Please translate the following sentence from English to Chinese: Immediately after the July liberalisation measures, foreign issuers started using the Hong Kong RMB bond platform.

assistant: 在今年 7 月放寬管制措施出臺後，境外發行商隨即以香港作爲人民幣債券投資帄臺。
user: Please translate the following sentence from English to Chinese: The Mainland is an important focus point in the financial world today for good reason as the Mainland’s economy is expanding rapidly, with the world’s biggest saving pools (US$2 trillion according to market sources) and the world’s largest foreign currency reserve of over US$1 trillion2.

assistant: 內地是當今金融市場的重要焦點之一，這是有其原因的，因爲內地的經濟正急速擴展，而內地市場的儲蓄額高踞全球首位(市場資料顯示總額爲 2 萬億美元)，外匯儲備逾 1 萬億美元2，亦佔全球首位。
user: Please translate the following sentence from English to Chinese: (i) creation of six new posts ($1.9 million) for the regulation of sponsors and authorization of REITs;

assistant: (i) 就規管保薦人及認可房地產投資信託基金而增設六個新職位(190 萬元)；
user: Please translate the following sentence from English to Chinese: 9. Owning a property is the dream of many Hong Kong people who would work hard to save up for a property, which for many is the most important investment in their lifetime.

assistant: 9. 由於香港人的傳統觀念是希望“有樓揸手”，“死慳死抵”把錢儲起來，目的就是爲了置業，物業往往成爲香港人一生之中最大的投資。
user: Please translate the following sentence from English to Chinese: Secondly, hedge funds are playing an increasing role in making capital markets more efficient.

assistant: 其次，對沖基金在令資本巿場變得更具效率一事上發揮著日益重要的作用。
user: Please translate the following sentence from English to Chinese: 32. In March, the City of London published its third Global Financial Centres Index, which ranked Hong Kong third after London and New York only, but marginally above the fourth position.

assistant: 32. 今年三月，倫敦市法團（City of London）公佈了第三屆全球金融中心指數，香港排名第三，僅次於倫敦和紐約，但只略高於第四位的城市。
user: Please translate the following sentence from English to Chinese: Cooling off Many of you will know that the concept of cooling off is already applicable in the insurance industry, including for ILAS products – and one rationale for that is because insurance plans and products tend to be long termed and their exits can be difficult and costly.

assistant: 冷靜期相信在座各位都知道，保險界早已爲投資相連壽險計劃等產品設立冷靜期，其中一個原因是保險計劃及相關產品一般年期較長，投資者若要中途退出，可能相當困難，而且費用高昂。
user: Please translate the following sentence from English to Chinese: Investment advisers should reflect upon these findings and if necessary, take appropriate steps to meet investors’ expectations.

assistant: 投資顧問應就調查結果作出反省，並在必要時採取適當步驟滿足投資者的期望。
user: Please translate the following sentence from English to Chinese: We have been working with local and Mainland authorities to position Hong Kong to benefit from such developments, and we have had some success.

assistant: 本會一直與香港及內地當局合作，務使香港能夠從中受惠，而我們的努力已漸見成果。
user: Please translate the following sentence from English to Chinese: 35. It would be interesting to watch the third quarter results of financial institutions and funds in the later part of this year to have a clearer assessment of the fallout.

assistant: 35. 待本年度稍後各金融機構及基金髮表第三季業績時，我們便可以更加清楚地評估今次危機的影響範圍，這將令人十分感興趣。
user: Please translate the following sentence from English to Chinese: He also said that SAFE will soon announce details related to forex control measures to facilitate the implementation.

assistant: 他亦表示，外匯局快將公佈與外匯管制措施有關的細節，以推動落實該計劃。
user: Please translate the following sentence from English to Chinese: Prior to the RQFII, these firms had little or no access to international liquidity, and no brand recognition outside the Mainland.

assistant: 在 RQFII 計劃推行前，這些公司缺乏或傴有少數渠道接觸國際資金，他們的品牌在境外亦欠缺知名度。
user: Please translate the following sentence from English to Chinese: It is natural that as China progresses and develops its own financial markets, Hong Kong would need to continually reposition itself to stay competitive.

assistant: 隨著中國向前邁進及發展本身的金融市場，香港自然需要不斷重新定位以保持競爭力。
user: Please translate the following sentence from English to Chinese: By doing so, a firm will protect its clients by deterring misconduct and ensuring that its staff acts with integrity and professionalism.

assistant: 一家公司如能做到這一點，將可遏止失當行爲及確保職員秉承持正操守和專業精神，從而保障客戶。
user: Please translate the following sentence from English to Chinese: Challenges related to the Implementation of the IOSCO Principles and of the IOSCO MOU in Emerging Securities Markets We have an impressive line-up of panellists who will bring different insights and interesting perspectives to the issues at hand.

assistant: 在新興證券市場中落實國際證監會組織原則及國際證監會組織 《諒解備忘錄》面臨的挑戰我們亦安排了陣容強大的討論小組，就當前的課題提出不同的見解及獨特的觀點。
user: Please translate the following sentence from English to Chinese: Meanwhile, the implementation of CEPA has also created more opportunities for Hong Kong to participate in the Mainland markets.

assistant: 同時，香港亦隨著 CEPA 的落實得到更多參與國內市場的機會。
user: Please translate the following sentence from English to Chinese: Hong Kong has a robust regulatory framework that protects investors and facilitates the orderly development of the financial system.

assistant: 香港擁有健全的監管架構，有助保障投資者及利便金融體系的穩步發展。
user: Please translate the following sentence from English to Chinese: The new rules are now going through the legislative stage, and we expect that they will be implemented this summer.

assistant: 新規則現正進入立法階段，估計將於今年夏天實施。
user: Please translate the following sentence from English to Chinese: The GEM Board on the Shenzhen Stock Exchange We have maintained close ties with the Shanghai and Shenzhen Exchanges. We meet regularly with them and the CSRC under the Memorandum of Regulatory Co-operation.

assistant: 根據《監管合作備忘錄》，我們與上海及深圳證券交易所及中國證監會定期會面。
user: Please translate the following sentence from English to Chinese: Hedge funds, guaranteed funds and index tracking exchange-traded funds are some of the products that we have introduced in the market by way of new chapters added to the UT Code.

assistant: 例如對沖基金、保證基金、跟蹤指數交易所買賣基金等，便是我們透過在《單位信託守則》內增補新章節後而向市場推出的產品。
user: Please translate the following sentence from English to Chinese: The SFC issued authorisation codes and guidelines for new products, and approved the sale of the first retail hedge funds in 2002.

assistant: 證監會爲新產品制訂了審批准則及指引，例如在 2002 年批准首隻零售對沖基金的銷售。
user: Please translate the following sentence from English to Chinese: However, we do require any affiliations to be disclosed, along with the means by which any potential conflicts of interest are addressed, to enable investors to assess this risk.

assistant: 我們亦規定基金文件必須披露上述的聯屬關係，以及處理潛在利益衝突的措施，使投資者可以據此來評估投資風險。
user: Please translate the following sentence from English to Chinese: To that end, we have proposed a six-point plan.

assistant: 爲達到這兩個目的，我們建議了一個六點方案。
user: Please translate the following sentence from English to Chinese: For example, a company dealing in securities and futures has to be licensed for types 1 and 2 regulated activities.

assistant: 例如，一間公司提供股票及期貨買賣，便需要獲得進行第 1 及第 2 類受規管活動的牌照。
user: Please translate the following sentence from English to Chinese: But even when the new quota is fully allocated, RMB200 billion is a drop in the ocean of RMB assets that the world will demand as China’s economic story continues and her capital market expands.

assistant: 然而，隨著內地經濟不斷增長，資本市場持續擴大，即使 2,000 億元人民幣的新增額度全數批出，相對於國際市場對人民幣資產的龐大需求而言，亦傴爲滄海一粟。
user: Please translate the following sentence from English to Chinese: Thank you and I wish you all a successful conference.

assistant: 謝謝各位。 我謹此祝願這次會議圓滿成功。
user: Please translate the following sentence from English to Chinese: 17. Finally, as the number of high net worth clients grew, coupled with a search for higher yield in a low interest rate environment, there were calls for a lighter regulatory regime for this category of investors compared to the regime that was in place for retail investors.

assistant: 17. 最後，隨著高資產值客戶數目不斷增加，加上在目前低息環境下客戶尋求高回報的投資項目，市場上遂出現對這類投資者施以較寬鬆的監管的訴求，讓他們免受一般散戶投資者的監管約束。
user: Please translate the following sentence from English to Chinese: In my view, developing a deep RMB bond market is the key to building a successful offshore business in Hong Kong.

assistant: 在我看來，發展具深度的人民幣債券市場是在香港成功開展離岸業務的關鍵。
user: Please translate the following sentence from English to Chinese: ” According to a World Economic Forum (WEF) study, “surging oil prices, a pandemic or extreme weather are more likely to negatively impact the world’s economic growth” than the collapse of a big hedge fund.

assistant: ”世界經濟論壇的研究顯示，與大型對沖基金的倒閉比較，“油價急升、疫症或惡劣的天氣對全球經濟增長造成負面影響的可能性更大。
user: Please translate the following sentence from English to Chinese: As one may expect, they hold opposite views over some of the issues such as whether to tighten the obligations of liquidity providers or to ban the appointment of external liquidity providers.

assistant: 一如所料，他們對於應否收緊對流通量提供者的責任的要求，或禁止委任外間流通量提供者等問題，持相反意見。
user: Please translate the following sentence from English to Chinese: The three A-share Exchange Traded Funds (ETF) listed here account together for around 69% of the volume of ETF trading on the Stock Exchange of Hong Kong.

assistant: 目前，在香港上市的三隻 A 股交易所買賣基金（ETF），合共約佔所有在香港聯合交易所（聯交所）買賣的交易所買賣基金產品的 69%交易額。
user: Please translate the following sentence from English to Chinese: That’s because our laisse faire system, freedom of capital control movement, low tax and the stability of our exchange rate regime is universally appealing and indispensable to all credible investors and global business.

assistant: 我們之所以能躋身爲成就超卓的主要金融中心，除了有賴本港奉行不干預制度外，資金可自由流動、稅率低廉及匯率制度穩定亦是關鍵所在。
user: Please translate the following sentence from English to Chinese: In 2010, the total number of SFC licensed firms holding an asset management licence was 798, an increase of 68% from 2005.

assistant: 2010 年共有 798 家證監會持牌商號持有資產管理牌照，較 2005 年增加了 68%。
user: Please translate the following sentence from English to Chinese: Last year, our supervision staff carried out a round of theme inspections on a sample of hedge fund managers.

assistant: 去年，證監會的監察人員對一批被挑選作爲樣本的對沖基金經理進行了一輪主題視察。
user: Please translate the following sentence from English to Chinese: Let me take this opportunity to give you an overview of the Hong Kong REIT market as it stands now, what its next stage of growth may entail, and what we, as the securities regulator, are committed to do to take Hong Kong REITs to the next level.

assistant: 我希望藉此機會，向各位概述香港房地產基金市場現時的狀況、下一階段的增長可能涉及些甚麼，以及我們身爲證券監管機構致力從事的工作，以促進本港的房地產基金更上一層樓。
user: Please translate the following sentence from English to Chinese: In contrast, Hong Kong is already an established international financial centre with a business-friendly and investor-friendly environment.

assistant: 相反，香港已是一個具規模的國際金融中心，擁有適合營商及利便投資者的環境。
user: Please translate the following sentence from English to Chinese:  exercise our powers to take on large enforcement cases ;

assistant: 行使權力對付大型的執法案件；
user: Please translate the following sentence from English to Chinese: Together, these developments have had a significant impact on the competitiveness of markets around the world.

assistant: 上述各項發展綜合起來，對全球市場的競爭力產生重大影響。
user: Please translate the following sentence from English to Chinese: Systemic concerns Even though no hedge fund has been designated by the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (Basel) as a global systemically important financial institution (Global SIFI), the hedge fund industry is increasingly attracting regulators’ attention.

assistant: 金融系統的關注事項 雖然金融穩定委員會及巴塞爾銀行監管委員會並沒有將任何對沖基金公司指定爲對全球金融系統具重大影響力的金融機構，但對沖基金業已逐漸引起監管機構的注意。
user: Please translate the following sentence from English to Chinese: 24. The balancing act is also evident in the US Treasury report I mentioned earlier.

assistant: 24. 在我剛纔提及的美國財政部報告中，也明顯地看到美國當局竭力在監管制度上取得平衡。
user: Please translate the following sentence from English to Chinese: If we want to improve conduct and change behaviour, it should start from the top by clarifying who has responsibility for what, and holding them accountable for the conduct and behaviour of the firm.

assistant: 我們若要改善操守和糾正行爲，便應先從高層人員著手，釐清各人的責任所在，並要求他們爲公司的操守及行爲接受問責。
user: Please translate the following sentence from English to Chinese: 22.6 million contracts were traded in 2005. The average daily turnover was HK$3.5 billion, covering 19.1% of the total market turnover.

assistant: 在 2005 年，有 2,260 萬張合約成交，平均每日成交額爲 35 億港元，佔市場總成交額的 19.1%。
user: Please translate the following sentence from English to Chinese: By now, over 90% of the state-owned companies have already completed their share reform.

assistant: 截至目前爲止，逾九成的國有公司已完成股權分置改革。
user: Please translate the following sentence from English to Chinese: 1. I am delighted to be here today to share with you some of my thoughts on Hong Kong’s role in developing Asia’s Capital Markets.

assistant: 1. 今天，我非常榮幸能夠在這裏與大家分享我對香港在亞洲資本市場的發展方面所擔當的角色的一些看法。
user: Please translate the following sentence from English to Chinese: These patterns also have a tendency to adapt to both new technologies and market structures.

assistant: 這些模式亦會因應新科技及市場結構而調整。
user: Please translate the following sentence from English to Chinese: Contrary to such concerns, I hold the view that, with the fundamentals just described and others that I am to mention later, Hong Kong will remain as an attractive place for Mainland enterprises (privately or state owned) to list.

assistant: 與這些市場憂慮恰好相反，基於以上和我稍後將會談及的基本因素，我認爲對內地企業(不論是私營還是國有企業)來說香港將繼續是一個富吸引力的地方。
user: Please translate the following sentence from English to Chinese: Those at the top are the non-compliant market practitioners.

assistant: 最頂層是不守法的人。
user: Please translate the following sentence from English to Chinese: No matter how many rules are laid down and how many procedures are adopted by a company for its corporate governance, it is the people who are in charge of the business operations who hold the key to good corporate governance.

assistant: 不論一家公司就其企業管治制定了多少規則及採納了多少程序，良好企業管治的關鍵在於掌管業務運作的人。
user: Please translate the following sentence from English to Chinese: The SFO creates a number of offences which the SFC may prosecute in the Magistrates' Court.

assistant: 該條例列明瞭多項證監會可在裁判法院提出檢控的罪行。
user: Please translate the following sentence from English to Chinese: Licensing of hedge fund managers Let us now move on to the managers.

assistant: 向對沖基金經理發牌 現在讓我們談談對沖基金經理。
user: Please translate the following sentence from English to Chinese: On our part, we are ready to work closely with our licensed firms to guide them through the implementation phase.

assistant: 至於證監會方面，我們已準備就緒與持牌法團緊密合作，並於實施階段向它們作出指引。
user: Please translate the following sentence from English to Chinese: Their risk appetite has been a major driving force that has fuelled the phenomenal growth of these markets and asset prices.

assistant: 它們的風險承受能力是驅使這些巿場及資產價格出現可觀增長的主要動力。
user: Please translate the following sentence from English to Chinese: No other developing market in the world has the luxury of having within its political boundaries an international market which is a strategic ally, and in which it can experiment with new initiatives and imbibe experience and opportunities that international markets and investors can offer.

assistant: 在全球衆多發展中市場當中，沒有其他市場享有這麼有利的優勢，能夠在政治疆界內擁有一個國際市場，而這個國際市場不但是策略性盟友，有關的發展中市場更可以在這個國際市場上試驗新舉措及汲取經驗，並享有其他國際市場和投資者提供的商機。
user: Please translate the following sentence from English to Chinese: 28. I believe our role is essentially two-fold. First – and this is perhaps the more obvious role – putting in place appropriate regulation of world-class standards that would facilitate market development.

assistant: 28. 我認爲我們的角色主要有兩方面。 首先－－這或許是較爲明顯的角色－－即實施利便巿場發展且符合世界標準的適當監管規定。
user: Please translate the following sentence from English to Chinese: The SFC and the industry have a common interest in the healthy growth of the financial planning industry.

assistant: 促進財務策劃業有健康的增長，是證監會與業界同感關注的事情。
user: Please translate the following sentence from English to Chinese: 2. During the financial year 2006/07, the performance of the stock market has been very robust.

assistant: 2. 在 2006/07 財政年度，股市表現非常暢旺。
user: Please translate the following sentence from English to Chinese: 20. As well as due diligence in respect of the disclosure, our regulatory system depends on sponsors to ensure that IPO candidates have suitable systems and controls to meet the obligation set by the Listing Rules and to ensure that the directors are aware of their responsibilities.

assistant: 20. 除了在披露方面的盡職審查工作外，我們的監管制度亦倚賴保薦人去確保首次公開招股的公司具備符合《上市規則》訂明的責任的適當制度及監控措施，及確保董事知悉其責任。
user: Please translate the following sentence from English to Chinese: Although these synthetic ETFs were popular, the use of CAAPs exposed ETF investors to the credit risk of the CAAP issuers.

assistant: 雖然這類合成 ETF 深受歡迎，但 CAAP 卻令 ETF 投資者需要承擔 CAAP 發行商的信貸風險。
user: Please translate the following sentence from English to Chinese: Can we conduct our regulatory activities more effectively and efficiently by streamlining our processes?

assistant: 我們能否透過簡化程序，以更具成效和效率的方式進行規管活動？
user: Please translate the following sentence from English to Chinese: I’m aware that I may be the only regulator speaking at this conference, so while my technical knowledge on risk management will pale in comparison to the numerous experts gathered here, I do hope to throw some useful light on some of the issues discussed today from a regulatory perspective.

assistant: 據我所知，我可能是唯一以監管者身分在這次會議上發言的講者，因此，雖然我在風險管理方面的技術知識與在座衆位專家相比會有所不及，但我希望能從監管的角度，就今天討論的課題分享一些有用的見解。