I deeply agree with some of the government's measures regarding the stock market, like the limit on daily price increases, no leveraged ETFs, high thresholds for futures and options, and low financing ratios. Chinese people have a strong gambling mentality. The stock market hasn’t dropped much, but the crypto space has already liquidated $20 billion, leaving countless people with heavy losses. This is all because of excessive leverage. If the A-share market were like the U.S. stock market, where it’s easy to use leverage—3x leveraged ETFs, futures, options—then the A-share market would also experience small-scale liquidations every year and large-scale liquidations every few years, just like the crypto space.