rather than imposing blanket lockdowns across the whole of china, i think hsbc�*s business out there is a sufficiently diverse really to cope with these local outbreaks. interestingly, the one thing that does appear to have affected the results this quarter is not the pandemic in china at all but real estate. and they have been a bit exposed to ever grant. band and they have been a bit exposed to ever grant. and what do ou exposed to ever grant. and what do you make _ exposed to ever grant. and what do you make of _ exposed to ever grant. and what do you make of the _ exposed to ever grant. and what do you make of the fact - exposed to ever grant. and what do you make of the fact that - do you make of the fact that the best use of money they can find is buying back their own shares? i find is buying back their own shares? ., . find is buying back their own shares? ,, ., , shares? ithink what it is sa in: shares? i think what it is saying really _ shares? i think what it is saying really is _ shares? i think what it is saying really is that - shares? i think what it is saying really is that the l shares? i think what it is - saying really is that the wider banking sector as may be becoming a bit more competitive. the return on equity is, if we look back to the days before the financial crisis and so forth, return on equity is still way low what it was before the financial crisis for the entire banking sector and all of the banks are under pressure to get it up. so