First of all, on investor protection, let me quote Arthur Levitt, Chairman of the US Securities and Exchanges Commission. From the investor point of view, it is now clear that investors must judge for themselves the risk before they invest. Whether the investment is in internet stocks, high-tech stocks, or indeed property or banking stocks, the environment has changed and investors must for their own interest evaluate their own risk appetite and try to assess the risks of their investment. Ultimately, the investor must take responsibility for his or her own profits or losses. They must understand the consequences of rumour chasing.
Share prices can go up as well as down.
3. know the level of risk you are undertaking. We do not and cannot tell investors what or when to invest, but we will be doing our best to provide better investor education, so that they can have more information to make their own decisions. In the coming year, one of our main investor education efforts would be the establishment of the eIRC, or Electronic Investor Resources Centre. We seek to provide a one-stop reference centre for investors who can access its service without the confines of a physical centre by operating 24 hours a day and 365 days a year, or rather 366 in year 2000. It seeks to provide investors with the right information and links to enable them to decide and assess their investment portfolios.