Alex Yao: Thank you. Daniel, in your prepared remarks, you spoke about how Alibaba’s long-term development is highly aligned with China’s overall long-term development strategy and direction, including around digitalization. I’m wondering, in the context of the current global regulatory environment, how you see digitalization playing out in the future, say, in the next five years in China in terms of its direction, in terms of its pace? What can Alibaba do as part of that process and what, kind of, financial returns can Alibaba reap? Thank you.
Daniel Zhang: Well, when it comes to Alibaba’s view of the future, the big picture of the future, we are, of course, strongly committed to our three key strategies of cloud computing, consumption and globalization. And of course, we do note the important emphasis given the latest — the 20th Party Congress with the intention of helping China develop into a strong player in internet industries with a strong digital economy. And I think that Alibaba is very well positioned to contribute the realization of those goals. If you look back at Alibaba’s history as a company around the internet, the first thing we did was field of retail commerce and enabling digital flows goods to consumers in the real economy, serving consumers with digitalization in that way.
The second thing we did was bring digitalization to logistics, making it possible with high efficiency and high effectiveness to ship goods all over the country. And in fact, China today is now probably the number one country in the world when it comes to express delivery services, not only in terms of the number of parcels, but also the quality of services as well. And then thirdly, over the last five to 10 years, we’ve been very focused on investing in cloud computing and helping companies go digital, not just companies, though public services as well, enterprise management as well as the digitalization of industry. All of this is served by our cloud computing offerings. So, going forward, we do indeed feel that as a company, we’re highly aligned with that overall direction in China to continue to empower this process of digitalization and to harness the benefits of digitalization as part of this long-term development process.
And Alibaba, as a company, has tremendous confidence in our ability to do precisely that, to provide the technologies that will empower the real economy to create further value through digitalization. So we do feel very encouraged about that overall policy direction, and we also are positively encouraged by other comments that we’ve seen from state authorities, including talking about the high-quality development of platform economies and Alibaba looks forward to playing an important role in all of these developments going forward and have confidence that we go.
Rob Lin: Okay. Next question.
Operator: Thank you. The next question is from Jerry Liu from UBS. Please go ahead.
Jerry Liu : Thank you management and good evening. I’d like to come back, if we could, to a topic we addressed earlier in the discussion, which was about the take rate and the company’s ability to monetize traffic. I’m wondering if you could tell us, please, what your view is over the next few quarters or say over the next year, the company’s ability to monetize this traffic? Thank you.
