{"product_id":"bankofbeijing-five-forces-analysis","title":"Bank of Beijing 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\u003eBank of Beijing faces intense domestic competition, regulatory scrutiny, rising fintech disruption, and concentrated corporate lending risks that shape its strategic choices and profitability. Market entry barriers remain moderate but digital innovation lowers switching costs for customers, increasing threat levels. This brief snapshot only scratches the surface. Unlock the full Porter's Five Forces Analysis to explore Bank of Beijing’s competitive dynamics, market pressures, and strategic advantages in detail.\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\u003eFunding base concentration\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eDepositors are the primary fund suppliers: Bank of Beijing reported retail deposits accounted for 62% of total deposits in 2023, which fragments bargaining power across many small savers.\u003c\/p\u003e\n\u003cp\u003eLarge corporate and government deposits remain price sensitive and cyclical, with top-10 non-retail depositors representing about 14% of balances in 2023, creating concentration risk.\u003c\/p\u003e\n\u003cp\u003eTo avoid costly rate concessions the bank must manage concentration and diversify into stable retail and transaction balances, raising core deposit ratios and reducing supplier leverage.\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\u003eInterbank and wholesale funding\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eReliance on interbank funding, NCDs and bond markets exposes Bank of Beijing to repricing risk and higher volatility, as wholesale lenders can demand sharply higher yields during liquidity stress; China’s large-bank LCR framework remained at a 100% minimum in 2024, constraining flexibility. Regulatory liquidity ratios amplify sensitivity to market moves, while maintaining strong credit ratings helps mitigate sudden cost spikes.\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\u003eTechnology and core systems vendors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCore banking, cybersecurity and cloud providers exert moderate supplier power over Bank of Beijing due to high switching costs and integration complexity, with core replacements often spanning multiple years. Long-term contracts and regulatory IT requirements further entrench vendors; global cloud infrastructure revenue rose about 30% in 2024, reinforcing vendor leverage. Building in-house capabilities and multi-vendor strategies can reduce dependence.\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\u003eTalent and compliance expertise\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eSkilled bankers, risk managers and fintech engineers remain scarce in Beijing and other Chinese hubs, driving wage growth—fintech engineer pay rose an estimated 12% YoY in 2024—while aggressive poaching lifts Bank of Beijing’s operating costs.\u003c\/p\u003e\n\u003cp\u003eRegulatory complexity after 2021–24 reforms increased demand for compliance specialists, tightening the labor market and elevating retention risks.\u003c\/p\u003e\n\u003cp\u003eInvestment in training pipelines and retention programs has modestly reduced supplier power by expanding internal talent pools and lowering external hiring needs.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003etalent-scarcity: major-hubs\u003c\/li\u003e\n\u003cli\u003ewage-pressure: ~12% fintech pay rise 2024\u003c\/li\u003e\n\u003cli\u003eregulatory-demand: stronger compliance hiring\u003c\/li\u003e\n\u003cli\u003emitigation: training \u0026amp; retention reduce 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\u003ePayment networks and data providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eAccess to national payment rails, credit bureaus and clearing systems such as CNAPS and UnionPay (accepted in over 180 countries\/regions) is essential for Bank of Beijing, while network fees and technical standards create measurable cost and integration constraints that limit rapid switching. Network effects of card and data ecosystems confer supplier power, though strategic partnerships and volume-based pricing mitigate fee pressure and improve service terms.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eEssential rails: CNAPS, UnionPay (180+ countries\/regions)\u003c\/li\u003e\n\u003cli\u003eSupplier power: network effects, switching costs\u003c\/li\u003e\n\u003cli\u003eMitigants: strategic partnerships, volume pricing\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\u003eRetail deposits \u003cstrong\u003e62%\u003c\/strong\u003e cut supplier power; top-10 non-retail 14% raise risk\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eDepositors (retail 62% of deposits in 2023) diffuse supplier power, while top-10 non-retail depositors (~14% in 2023) create concentration risk. Wholesale funding and NCDs raise repricing exposure; China LCR minimum 100% in 2024 limits flexibility. Vendor lock-in for core\/cloud and scarce fintech talent (+12% pay rise in 2024) give moderate supplier leverage, mitigated by multi-vendor and retention programs.\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\u003c\/th\u003e\n\u003cth\u003eYear\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eRetail deposits\u003c\/td\u003e\n\u003ctd\u003e62%\u003c\/td\u003e\n\u003ctd\u003e2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTop-10 non-retail\u003c\/td\u003e\n\u003ctd\u003e~14%\u003c\/td\u003e\n\u003ctd\u003e2023\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLCR min\u003c\/td\u003e\n\u003ctd\u003e100%\u003c\/td\u003e\n\u003ctd\u003e2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eFintech pay rise\u003c\/td\u003e\n\u003ctd\u003e~12%\u003c\/td\u003e\n\u003ctd\u003e2024\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\u003eConcise Porter’s Five Forces assessment of Bank of Beijing, revealing competitive intensity, buyer and supplier bargaining power, threat of new entrants and substitutes, and strategic barriers that protect or expose the bank’s market position.\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\u003eOne-sheet Porter’s Five Forces for Bank of Beijing — a concise, visual summary that instantly highlights competitive pain points and regulatory pressures. Customize force levels, swap in updated data, and drop the chart straight into pitch decks or board reports for fast, actionable strategy decisions.\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\u003eRetail customers’ price sensitivity\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eRetail customers heavily compare deposit rates, loan pricing and digital features across banks and fintechs, driven by China's 1.27 billion mobile payment users in 2023. Switching costs for basic accounts are modest due to ubiquitous mobile onboarding and e‑KYC, lowering buyer friction. Trust, branch access and bundled wealth\/insurance products increase stickiness for incumbents. Loyalty programs and ecosystem integration further soften customer bargaining power.\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\u003eCorporate and SME clients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eLarge corporates negotiate aggressively on loan spreads, fees and cash management, often running multi-bank relationships to benchmark pricing and squeeze spreads. SMEs are more rate-sensitive but value relationship lending and speed; as of 2024 Chinese SMEs account for roughly 60% of GDP and 80% of urban employment. Tailored solutions and supply-chain finance can materially reduce their bargaining power.\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\u003eWealth management and affluent segments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAffluent clients demand higher yield, advisory quality, and broader product breadth, and by 2024 about 80% of China’s affluent used digital channels, enabling rapid asset shifts to securities firms or platforms. Performance transparency has driven fee compression, with advisory fees in many urban wealth segments falling below 0.5% annually. Exclusive products and deeper advisory teams remain key to retaining wallet share.\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\u003eInternational settlement users\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eTrade clients demand low FX spreads, sub-hour cross-border settlement and robust compliance; competing banks and fintech remitters weakened buyer stickiness in 2024 as global cross-border payment alternatives expanded. Documentation and KYC create moderate switching costs, but competitive SLAs and digital portals (faster tracking, APIs) have reduced customer leverage.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLower FX spreads, faster rails\u003c\/li\u003e\n\u003cli\u003eKYC\/documentation raises friction\u003c\/li\u003e\n\u003cli\u003eFintech competition grew in 2024\u003c\/li\u003e\n\u003cli\u003eService SLAs and portals mitigate buyer power\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\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\u003eDigital experience expectations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eUsers now expect seamless mobile banking, instant payments and 24\/7 service; by 2024 China counts over 900 million mobile banking users and instant-pay ubiquity, elevating buyers' leverage. Poor UX drives churn to super-apps and neobanks, which grew digital customers \u0026gt;20% YoY in 2024. High service parity across banks further boosts buyer power; continuous app upgrades and ecosystem partnerships are key to retaining stickiness.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eMobile users: \u0026gt;900 million (2024)\u003c\/li\u003e\n\u003cli\u003eNeobank digital growth: \u0026gt;20% YoY (2024)\u003c\/li\u003e\n\u003cli\u003e24\/7 instant-pay expectation: market norm\u003c\/li\u003e\n\u003cli\u003eDefense: app upgrades + ecosystem partnerships\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\u003eCustomer leverage rises: \u003cstrong\u003e\u0026gt;900M\u003c\/strong\u003e mobile banking users, \u003cstrong\u003e1.27B\u003c\/strong\u003e mobile payments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eCustomers wield strong price and service leverage: \u0026gt;900M mobile banking users (2024) and 1.27B mobile payment users (2023) lower switching costs; SMEs (~60% of GDP, 80% urban employment) and corporates negotiate hard on spreads; affluent segment fee pressure (\u0026lt;0.5% advisory) and neobank digital growth \u0026gt;20% YoY (2024) increase churn risk.\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\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMobile banking users (2024)\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;900M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMobile payment users (2023)\u003c\/td\u003e\n\u003ctd\u003e1.27B\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSME % of GDP\u003c\/td\u003e\n\u003ctd\u003e~60%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAffluent advisory fee\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;0.5%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNeobank growth (2024)\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;20% YoY\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\u003eBank of Beijing Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact document you'll receive immediately after purchase—no surprises, no placeholders. The Bank of Beijing Porter's Five Forces analysis assesses low threat of new entrants due to heavy regulation and scale advantages, moderate supplier power tied to capital markets, and moderate-to-high buyer power driven by corporate and retail client bargaining. Threat of substitutes is moderate given fintech alternatives, while competitive rivalry is high among domestic and joint-venture banks. The report is fully formatted and ready for immediate use.\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":"PortersFiveForce","offers":[{"title":"Default Title","offer_id":55676059386233,"sku":"bankofbeijing-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0914\/5276\/8633\/files\/bankofbeijing-five-forces-analysis.png?v=1755814673","url":"https:\/\/portersfiveforce.com\/products\/bankofbeijing-five-forces-analysis","provider":"Porter's Five Forces","version":"1.0","type":"link"}