{"product_id":"eastmoney-five-forces-analysis","title":"East Money Information Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGo Beyond the Preview—Access the Full Strategic Report\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eEast Money Information faces intense rivalry from domestic fintechs and legacy brokers, moderate supplier leverage tied to data vendors, rising buyer power driven by user price sensitivity, tangible threat from digital substitutes and moderate barriers for new entrants due to regulatory and brand advantages; this snapshot surfaces key dynamics but omits force-by-force ratings and visuals.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDependency on Financial Data Exchanges\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eEast Money depends on primary feeds from the Shanghai and Shenzhen Stock Exchanges for tick-level market data, and those exchanges act as near-monopolies: in 2024 exchange data fees grew ~7% YoY, with top-tier feed licenses costing firms north of RMB 10–30m annually; East Money must absorb or pass these costs to keep real-time accuracy, since delayed data would hurt its active user base of ~110m monthly users.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRelationships with Asset Management Companies\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThrough Tiantian Fund, East Money distributed over 3,200 mutual funds and recorded ¥4.8 billion in fund distribution revenue in 2024; despite platform dominance, top fund managers like ChinaAMC and Bosera (top 10 providers hold ~45% market share) can demand higher revenue splits, giving suppliers moderate bargaining power in wealth management.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCompetition for Specialized Fintech Talent\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe supply of senior software engineers and quantitative analysts is a critical input for East Money in 2025; China saw a 12% year-on-year wage rise for fintech engineers in 2024, pushing median senior engineer pay in Beijing\/Shanghai to ~RMB 600k–900k annually. \u003c\/p\u003e\n\u003cp\u003eAs Tencent, Alibaba, Ping An and major banks expand digital products, competition for hires keeps recruitment and retention costs high, raising East Money’s operating expense and product time-to-market. \u003c\/p\u003e\n\u003cp\u003eSpecialized recruiters and top talent thus hold measurable bargaining power: a 2024 survey showed 38% of fintech firms reported offer-rates lost to counteroffers, translating into higher salary inflation and recruitment fees for East Money.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInfrastructure and Cloud Service Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eMaintaining East Money's high-traffic platform needs robust cloud compute and cybersecurity; downtime or breaches hit revenue and trust, and China's cloud market was ~RMB 210 billion in 2024, with Alibaba Cloud holding ~38% share (2024 IDC).\u003c\/p\u003e\n\u003cp\u003eMultiple options exist—Alibaba Cloud, Huawei Cloud—yet migrating petabytes and compliance-mapped financial data creates strong lock-in, so suppliers exert moderate bargaining power tied to uptime and certified security.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRMB 210B China cloud market 2024\u003c\/li\u003e\n\u003cli\u003eAlibaba ~38% share (IDC 2024)\u003c\/li\u003e\n\u003cli\u003ePetabyte-scale data = high migration cost\u003c\/li\u003e\n\u003cli\u003eUptime\/security critical → moderate supplier power\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Compliance and Legal Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eRegulatory compliance is a non-negotiable input for East Money Information after China tightened rules: CSRC and PBOC enforcement actions rose 28% in 2024, raising the cost of non-compliance. \u003c\/p\u003e\n\u003cp\u003eSpecialist law firms and regulatory consultants wield strong supplier power because they secure operating licenses and avoid fines—CSRC fines averaged RMB 24.6 million in 2024—so East Money depends on their expertise. \u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCompliance now mandatory\u003c\/li\u003e\n\u003cli\u003eCSRC\/PBOC actions +28% in 2024\u003c\/li\u003e\n\u003cli\u003eAvg CSRC fine RMB 24.6m (2024)\u003c\/li\u003e\n\u003cli\u003eSpecialist firms control license retention\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSuppliers Tighten Grip: Rising fees, cloud dominance, talent costs \u0026amp; tougher fines\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers hold moderate-to-strong power: exchange data fees (top licenses RMB 10–30m; fees +7% in 2024) and cloud\/security (China cloud RMB 210B; Alibaba 38% share) create lock-in; top fund managers control ~45% distribution share limiting revenue splits; fintech talent costs rose ~12% in 2024, median senior pay RMB 600k–900k; compliance\/legal firms gained power as CSRC\/PBOC actions +28% (avg fine RMB 24.6m).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eInput\u003c\/th\u003e\n\u003cth\u003e2024 metric\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eExchange data\u003c\/td\u003e\n\u003ctd\u003e+7% fees; top licenses RMB 10–30m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCloud market\u003c\/td\u003e\n\u003ctd\u003eRMB 210B; Alibaba 38%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFund managers\u003c\/td\u003e\n\u003ctd\u003eTop 10 ≈45% share\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTalent\u003c\/td\u003e\n\u003ctd\u003eWage +12%; senior RMB 600–900k\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRegulation\u003c\/td\u003e\n\u003ctd\u003eEnforcement +28%; avg fine RMB 24.6m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eTailored exclusively for East Money Information, this Five Forces analysis uncovers competitive drivers, evaluates supplier and buyer power, identifies substitutes and entrant threats, and highlights disruptive forces shaping pricing, profitability, and strategic positioning.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eInstantly visualize East Money Information’s competitive dynamics with a concise Five Forces one-sheet—ideal for swift strategic decisions and slide-ready presentations.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow Switching Costs for Retail Investors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eIndividual retail investors in China face very low switching costs, moving assets between apps in minutes; 2024 data show over 350 million active mobile trading accounts, up 12% year-on-year, amplifying churn risk.\u003c\/p\u003e\n\u003cp\u003eWith more than 200 broker apps offering commission-free trades and rapid feature releases, loyalty hinges on UX and fees, so East Money (300059.SZ) must push product updates and pricing to retain users.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh Price Sensitivity in Commission Rates\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRetail investors in China show high price sensitivity: by 2024 around 80% of online brokerage account holders cited low fees as a top choice factor, pressuring East Money to cut commission margins as rivals push zero-commission trading and discounted fund sales; this downward pressure contributed to a 2023-24 brokerage fee decline of ~12% industrywide and forces East Money to trade off near-term EBIT margins (which were 18.6% in 2023) against customer acquisition and retention in a crowded digital market.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInfluence of Institutional Wealth Management Clients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eEast Money’s retail base tops 250 million users, but institutional and high-net-worth clients, representing roughly 5–8% of assets under custody (AUC ≈ RMB 1.2 trillion in 2024), wield outsized bargaining power.\u003c\/p\u003e\n\u003cp\u003eThese clients press for bespoke products, lower management fees (often 20–50 bps below retail rates), and proprietary analytics, pushing East Money to offer customized pricing and tech integrations.\u003c\/p\u003e\n\u003cp\u003eTheir ability to shift large AUM blocks—single mandates of RMB 500m–2bn—gives them clear leverage in fee and service negotiations.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEmpowerment through Information Symmetry\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpthe proliferation of financial data lets users compare platforms in real time by china online fund-trading reached million and east money apps show fund performance tables with daily navs returns boosting customer leverage.\u003e\n\u003cpusers now choose on objective metrics alpha expense ratio and star ratings than brand surveys in found of investors switched platforms after performance comparisons.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e300m online fund users (China, 2024)\u003c\/li\u003e\n\u003cli\u003eDaily NAV and 10-year returns visible\u003c\/li\u003e\n\u003cli\u003e62% switched after comparing performance (2023)\u003c\/li\u003e\n\u003cli\u003eDecisions driven by alpha, expense ratio, ratings\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pusers\u003e\u003c\/pthe\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCollective Power of the Online Community\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eEast Money’s Guba forum hosts over 80 million registered users and drives significant daily engagement, giving retail investors a strong collective voice that can influence platform perception.\u003c\/p\u003e\n\u003cp\u003eNegative sentiment about UI changes or fee hikes has spread quickly in past incidents, correlating with short-term dips in new account growth and app-store ratings.\u003c\/p\u003e\n\u003cp\u003eBecause community interaction is central to East Money’s value, customer satisfaction directly affects retention, monetization, and brand reputation.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e80M+ users; high daily engagement\u003c\/li\u003e\n\u003cli\u003eNegative sentiment spreads fast; impacts acquisition\u003c\/li\u003e\n\u003cli\u003eCommunity satisfaction tied to retention and revenue\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEast Money under pricing pressure: fee cuts, UX overhaul as users surge\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eHigh retail price sensitivity and near-zero switching costs (350M mobile accounts, +12% YoY 2024) force East Money (300059.SZ) into fee cuts and rapid UX updates; institutional clients (5–8% of AUC, ~RMB1.2tn) wield outsized negotiation power via large AUM moves (RMB500m–2bn).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (2023–24)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMobile trading accounts\u003c\/td\u003e\n\u003ctd\u003e350M (+12% YoY)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOnline fund users\u003c\/td\u003e\n\u003ctd\u003e300M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eIndustry brokerage fee decline\u003c\/td\u003e\n\u003ctd\u003e~12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eEast Money EBIT margin (2023)\u003c\/td\u003e\n\u003ctd\u003e18.6%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eInstitutional AUC\u003c\/td\u003e\n\u003ctd\u003eRMB1.2tn (5–8%)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGuba users\u003c\/td\u003e\n\u003ctd\u003e80M+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003ePreview Before You Purchase\u003c\/span\u003e\u003cbr\u003eEast Money Information Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Porter's Five Forces analysis for East Money Information you'll receive immediately after purchase—comprehensive, fully formatted, and ready to download with no placeholders or mockups.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56747180622201,"sku":"eastmoney-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/eastmoney-five-forces-analysis.png?v=1772195683","url":"https:\/\/matrixbcg.com\/products\/eastmoney-five-forces-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}