Banks will do telecom deals, if the sponsors are good, the deal makes sense and the pricing is right. In the past, HSBC has always been a dominant player in the Hong Kong and China market. However, we have not been as active as we should have been in the regional markets. My task here is to try to build up the regional business .We want to be one of the top players on a regional basis, not just in Hong Kong. The bank has been here for over a century and has tremendous relationships throughout Asia.
Many banks come and go.
As a result our relationships are very, very solid throughout the region. There is a trend towards local currency business, so we will have a regional team doing offshore deals and people on the ground in every market doing local deals. Traditionally credit has been one of HSBC's strengths. The bank's position now is that we still definitely want to build up the business. We have always been willing to lend throughout Asia, provided the credit is good and the deal makes sense.