Why haven't you tapped the retail bond markets in Hong Kong
Sixt We've financed quite regularly in the corporate bond market, but these markets remain relatively small.
Chan The size of a Hong Kong dollar bond is HK$1bn $128 million or maybe a little more. It's not really a market with depth or long maturities.
What needs to be done to develop this further
There need to be more participants. The investor base needs to be educated. Hong Kong people are not typically fixed income investors. This is changing slowly, but there's a lot of room for improvement.
Do you think the regulatory environment is not conducive enough for retail bond issuance