Three quarters of 2010, the French Societe Generale Bank net profit of 3.04 billion euros, which has reached Analysts had expected full-year profits of the bank.

In global economic growth focus to emerging markets tilt the background, Wu Di, Yan is planning to SG universal banking business in the mainland China market spread, which will include retail banking, corporate banking and investment banking, private banking and asset management.

In Europe a certain degree of economic recovery, but a very moderate recovery trend, economists believe that economic growth in Europe next year will be around 1.5%. Taken to deal with the current European debt and deficit measures, including reducing public spending, increase taxes, these initiatives will further inhibit the growth of the European economy the next few years, but these measures are necessary.

On a personal point of view, the European economy remain optimistic about the future of the European economy will remain relatively good development momentum. European debt crisis intensified over the market, the market should not lose for the European development and European integration of confidence. Greece, Ireland and other countries are surely encountered some difficulties. However, these adjustments for them is necessary. In addition, Global also has mechanisms to help these small economies to adjust, within the next three years, the Relief Fund to these countries will reach 700 billion euros, enough to help these countries to deal with current problems.

European governments are confident the euro will continue to support the European integration process. Within the next few quarters, although we may still see the European economy of instability, and even within the next quarter, some small European economies may also be a negative growth, but after that, after several quarters, the future will be better macroeconomic.

Financial crisis, many international-based financial institutions to shift focus to emerging markets. SG is also the case? Indeed many international banks are based in emerging markets to achieve more growth. China attaches great importance to our market, we are fully aware of the potential long-term development in China, is put more focus on China.

Hope to promote the universal banking strategy in Mainland China, by way of endogenous growth to expand outlets in mainland China currently has 8 retail outlets, medium-term development plans to increase to 50. We attach great importance to retail banking customers, especially against the euro and the French-related businesses interested customers will also increase the innovative financial products in private banking business to provide customers with offshore and onshore financial services, and various advisory and investment solutions. We also have a joint venture in China’s Fortune SGAM asset management company, and Warburg car rental companies.

In corporate banking and investment banking business, we will continue to increase the proportion of loans for the foreign-funded enterprises to provide a variety of loans, will increase the capital of the business. Want to receive further expand in these areas, the market share of SG, in particular the exchange rate and interest rate derivatives, bonds and other markets. We will continue to develop steadily in China, continue to expand our team of employees and size.

Financial crisis, the global derivatives trade fair which presents the new features? SG just mentioned the inter-bank bond market in China development plan, the future, Europe and the U.S. financial market will present more uncertainty. U.S. Congress recently passed financial reform bill to the financial markets how to change much, there are still many uncertainties.

Hope that the future more of OTC derivatives transactions in the clearing bank, which helps financial institutions to control trading risk and greater transparency to meet the requirements, and related products, including credit default swaps, interest rate derivatives and so on. Through these initiatives, and ultimately can make in the face of global capital markets crisis has become more flexible, enhance its ability to resist risks.

China’s current spot market is more developed, but derivatives are not rich, we are interested in this market will remain their concern and needs to be sufficiently relevant license before operating related businesses.

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