CHINA OVERSEAS LAND & INVESTMENT LIMITED: O HKD
| Exchange | Code | Listed | Last trade | Delisted | |
|---|---|---|---|---|---|
| HK Main | 00688 | 1992-08-20 |
CCASS holding changes from 2021-01-29 to 2021-02-01
Hit the "stake change" to see the holder's history.
Some data are hidden to fit your display. Rotate?
| Row | CCASS ID | Name | Holding | Change | Stake % |
Stake Δ % |
Last holding |
|
|---|---|---|---|---|---|---|---|---|
| 1 | C00100 | JPMORGAN CHASE BANK, NATIONAL | 501,205,526 | 11,401,012 | 4.58 | 0.10 | 2021-02-01 | |
| 2 | B01555 | ABN AMRO CLEARING HONG KONG LTD | 7,832,674 | 7,610,815 | 0.07 | 0.07 | 2021-02-01 | |
| 3 | B01323 | DEUTSCHE SECURITIES ASIA LTD | 5,690,998 | 5,525,998 | 0.05 | 0.05 | 2021-02-01 | |
| 4 | B01565 | GUOTAI JUNAN SECURITIES (HONG KONG) LTD | 16,537,020 | 2,923,500 | 0.15 | 0.03 | 2021-02-01 | |
| 5 | B01584 | CHIEF SECURITIES LTD | 4,074,067 | 1,024,000 | 0.04 | 0.01 | 2021-02-01 | |
| 6 | B01654 | CHINA INTERNATIONAL CAPITAL CORPORATION | 3,482,000 | 629,000 | 0.03 | 0.01 | 2021-02-01 | |
| 7 | C00033 | BANK OF CHINA (HONG KONG) LTD | 88,521,032 | 481,022 | 0.81 | 0.00 | 2021-02-01 | |
| 8 | C00010 | CITIBANK N.A. | 379,239,371 | 388,584 | 3.46 | 0.00 | 2021-02-01 | |
| 9 | B01668 | BRIGHT SMART SECURITIES INTERNATIONAL | 9,609,775 | 260,000 | 0.09 | 0.00 | 2021-02-01 | |
| 10 | C00036 | CHINA CONSTRUCTION BANK (ASIA) | 8,152,458 | 229,500 | 0.07 | 0.00 | 2021-02-01 | |
| 11 | B01264 | MIB SECURITIES (HONG KONG) LTD | 1,801,000 | 165,000 | 0.02 | 0.00 | 2021-02-01 | |
| 12 | B01130 | BOCI SECURITIES LTD | 843,245,889 | 117,978 | 7.70 | 0.00 | 2021-02-01 | |
| 13 | B01423 | PRUDENTIAL BROKERAGE LTD | 736,816 | 114,500 | 0.01 | 0.00 | 2021-02-01 | |
| 14 | B01183 | CHONG HING SECURITIES LTD | 3,746,357 | 89,500 | 0.03 | 0.00 | 2021-02-01 | |
| 15 | B01929 | CHINA GALAXY INTERNATIONAL SECURITIES | 1,054,740 | 80,000 | 0.01 | 0.00 | 2021-02-01 | |
| 16 | B01858 | YUANTA SECURITIES (HONG KONG) CO LTD | 944,592 | 68,500 | 0.01 | 0.00 | 2021-02-01 | |
| 17 | C00016 | DBS BANK LTD | 11,085,344 | 64,000 | 0.10 | 0.00 | 2021-02-01 | |
| 18 | B01939 | SOOCHOW SECURITIES INTERNATIONAL | 208,000 | 62,000 | 0.00 | 0.00 | 2021-02-01 | |
| 19 | B01676 | TAI SHING STOCK INVESTMENT CO LTD | 384,660 | 60,000 | 0.00 | 0.00 | 2021-02-01 | |
| 20 | B01610 | KGI ASIA LTD | 4,641,634 | 58,500 | 0.04 | 0.00 | 2021-02-01 | |
| 21 | B01289 | SOUTH CHINA SECURITIES LTD | 832,582 | 53,500 | 0.01 | 0.00 | 2021-02-01 | |
| 22 | B01392 | TAIFAIR SECURITIES LTD | 354,000 | 50,000 | 0.00 | 0.00 | 2021-02-01 | |
| 23 | B01842 | BOCOM INTERNATIONAL SECURITIES LTD | 2,135,265 | 46,000 | 0.02 | 0.00 | 2021-02-01 | |
| 24 | B01228 | CITIC SECURITIES BROKERAGE (HK) LTD | 1,096,970,966 | 39,000 | 10.02 | 0.00 | 2021-02-01 | |
| 25 | C00028 | NANYANG COMMERCIAL BANK LTD | 5,954,922 | 28,500 | 0.05 | 0.00 | 2021-02-01 | |
| 26 | B01413 | CORE PACIFIC - YAMAICHI INTERNATIONAL | 469,273 | 20,000 | 0.00 | 0.00 | 2021-02-01 | |
| 27 | B01123 | HING WONG SECURITIES LTD | 461,800 | 20,000 | 0.00 | 0.00 | 2021-02-01 | |
| 28 | B01298 | GET NICE SECURITIES LTD | 3,031,276 | 15,000 | 0.03 | 0.00 | 2021-02-01 | |
| 29 | B01198 | PO KAY SECURITIES & SHARES CO LTD | 237,500 | 15,000 | 0.00 | 0.00 | 2021-02-01 | |
| 30 | B01843 | TELECOM KING SECURITIES LTD | 508,394 | 15,000 | 0.00 | 0.00 | 2021-02-01 | |
| 31 | B01645 | SELINA & CO LTD | 168,160 | 14,000 | 0.00 | 0.00 | 2021-02-01 | |
| 32 | B01118 | EAST ASIA SECURITIES CO LTD | 6,723,311 | 13,000 | 0.06 | 0.00 | 2021-02-01 | |
| 33 | B01089 | HSBC BROKING SECURITIES (HONG KONG) LTD | 7,833,486 | 13,000 | 0.07 | 0.00 | 2021-02-01 | |
| 34 | B01659 | CHEER UNION SECURITIES LTD | 189,956 | 10,000 | 0.00 | 0.00 | 2021-02-01 | |
| 35 | C00058 | CHINA CITIC BANK INTERNATIONAL LTD | 5,878,600 | 10,000 | 0.05 | 0.00 | 2021-02-01 | |
| 36 | B02085 | JOY RICH SECURITIES INVESTMENT LTD | 120,000 | 10,000 | 0.00 | 0.00 | 2021-02-01 | |
| 37 | B02120 | LIVERMORE HOLDINGS LTD | 222,000 | 10,000 | 0.00 | 0.00 | 2021-02-01 | |
| 38 | B01320 | LUEN FAT SECURITIES CO LTD | 364,646 | 9,500 | 0.00 | 0.00 | 2021-02-01 | |
| 39 | B02132 | BOOM SECURITIES (H.K.) LTD | 455,275 | 8,000 | 0.00 | 0.00 | 2021-02-01 | |
| 40 | C00048 | CHIYU BANKING CORPORATION LTD | 2,764,924 | 8,000 | 0.03 | 0.00 | 2021-02-01 | |
| 41 | B01324 | FUNDERSTONE SECURITIES LTD | 268,720 | 7,000 | 0.00 | 0.00 | 2021-02-01 | |
| 42 | B01275 | SANFULL SECURITIES LTD | 315,360 | 7,000 | 0.00 | 0.00 | 2021-02-01 | |
| 43 | B01217 | TAIPING SECURITIES (HK) CO LTD | 264,560 | 7,000 | 0.00 | 0.00 | 2021-02-01 | |
| 44 | B01564 | ABCI SECURITIES CO LTD | 223,990 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 45 | B01907 | CHINA DEMETER SECURITIES LTD | 244,500 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 46 | B01252 | CORPORATE BROKERS LTD | 263,080 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 47 | B01696 | HANTEC SECURITIES CO LTD | 114,200 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 48 | B01340 | LEHIN SECURITIES LTD | 142,876 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 49 | B01173 | RIFA SECURITIES LTD | 227,480 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 50 | B01787 | SOO PUI CHEN SECURITIES LTD | 57,720 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 51 | B01535 | WING YEE SECURITIES CO LTD | 150,320 | 5,000 | 0.00 | 0.00 | 2021-02-01 | |
| 52 | B01121 | SG SECURITIES (HK) LTD | 795,356 | 4,382 | 0.01 | 0.00 | 2021-02-01 | |
| 53 | C00088 | CHINA MERCHANTS BANK CO LTD | 723,500 | 4,000 | 0.01 | 0.00 | 2021-02-01 | |
| 54 | B01181 | FOSUN INTERNATIONAL SECURITIES LTD | 57,160 | 4,000 | 0.00 | 0.00 | 2021-02-01 | |
| 55 | B01585 | SINO GRADE SECURITIES LTD | 100,500 | 4,000 | 0.00 | 0.00 | 2021-02-01 | |
| 56 | B01762 | DBS VICKERS (HONG KONG) LTD | 2,497,000 | 3,000 | 0.02 | 0.00 | 2021-02-01 | |
| 57 | B01438 | KINGSTON SECURITIES LTD | 31,160 | 3,000 | 0.00 | 0.00 | 2021-02-01 | |
| 58 | B01272 | FB SECURITIES (HONG KONG) LTD | 2,280,230 | 2,000 | 0.02 | 0.00 | 2021-02-01 | |
| 59 | B01212 | HENYEP SECURITIES LTD | 316,096 | 2,000 | 0.00 | 0.00 | 2021-02-01 | |
| 60 | B01581 | KINGSWAY FINANCIAL SERVICES GROUP LTD | 844,000 | 2,000 | 0.01 | 0.00 | 2021-02-01 | |
| 61 | B01543 | KWONG FAT HONG (SECURITIES) LTD | 37,020 | 2,000 | 0.00 | 0.00 | 2021-02-01 | |
| 62 | B01415 | TARZAN STOCK & SHARES LTD | 39,500 | 2,000 | 0.00 | 0.00 | 2021-02-01 | |
| 63 | B01425 | WELLFULL SECURITIES CO LTD | 253,000 | 2,000 | 0.00 | 0.00 | 2021-02-01 | |
| 64 | B01350 | S. W. WOO & CO LTD | 63,000 | 1,000 | 0.00 | 0.00 | 2021-02-01 | |
| 65 | B01290 | SPS SECURITIES LTD | 245,481 | 1,000 | 0.00 | 0.00 | 2021-02-01 | |
| 66 | B02159 | USMART SECURITIES LTD | 65,593 | 1,000 | 0.00 | 0.00 | 2021-02-01 | |
| 67 | B02175 | WEBULL SECURITIES LTD | 10,500 | 500 | 0.00 | 0.00 | 2021-02-01 | |
| 68 | B01240 | TSUN CHI YUEN SECURITIES CO LTD | 583,045 | 2 | 0.01 | 0.00 | 2021-02-01 | |
| 69 | B01769 | ONE CHINA SECURITIES LTD | 36,147 | -186 | 0.00 | -0.00 | 2021-02-01 | |
| 70 | B01184 | QUAM SECURITIES LTD | 973,472 | -500 | 0.01 | -0.00 | 2021-02-01 | |
| 71 | B01356 | DELTA ASIA SECURITIES LTD | 473,560 | -1,000 | 0.00 | -0.00 | 2021-02-01 | |
| 72 | B02019 | GEO SECURITIES LTD | 87,000 | -1,000 | 0.00 | -0.00 | 2021-02-01 | |
| 73 | B01433 | HING WAI ALLIED SECURITIES LTD | 133,500 | -1,000 | 0.00 | -0.00 | 2021-02-01 | |
| 74 | B01919 | TIGER SECURITIES ASSET MANAGEMENT CO LTD | 17,000 | -1,000 | 0.00 | -0.00 | 2021-02-01 | |
| 75 | C00041 | OCBC BANK (HONG KONG) LTD | 3,426,638 | -1,500 | 0.03 | -0.00 | 2021-02-01 | |
| 76 | B01459 | IFAST SECURITIES (HK) LTD | 295,002 | -2,000 | 0.00 | -0.00 | 2021-02-01 | |
| 77 | B01169 | PUBLIC FINANCIAL SECURITIES LTD | 389,040 | -2,000 | 0.00 | -0.00 | 2021-02-01 | |
| 78 | B01246 | ROCTEC SECURITIES CO LTD | 210,280 | -2,000 | 0.00 | -0.00 | 2021-02-01 | |
| 79 | B01497 | SINOPAC SECURITIES (ASIA) LTD | 5,980,840 | -2,000 | 0.05 | -0.00 | 2021-02-01 | |
| 80 | B01863 | WESTOCK SECURITIES INTERNATIONAL (HK) | 7,000 | -2,000 | 0.00 | -0.00 | 2021-02-01 | |
| 81 | B01351 | WING FUNG SECURITIES LTD | 82,910 | -2,000 | 0.00 | -0.00 | 2021-02-01 | |
| 82 | B01959 | ZHONGTAI INTERNATIONAL SECURITIES LTD | 26,500 | -2,000 | 0.00 | -0.00 | 2021-02-01 | |
| 83 | B02102 | ZINVEST GLOBAL LTD | 16,000 | -2,000 | 0.00 | -0.00 | 2021-02-01 | |
| 84 | B01528 | EAA SECURITIES LTD | 12,400 | -2,500 | 0.00 | -0.00 | 2021-02-01 | |
| 85 | C00095 | EFG BANK AG | 1,454,587 | -3,144 | 0.01 | -0.00 | 2021-02-01 | |
| 86 | B01901 | CMB INTERNATIONAL SECURITIES LTD | 366,500 | -3,500 | 0.00 | -0.00 | 2021-02-01 | |
| 87 | B01148 | CHINA MERCHANTS SECURITIES (HK) CO LTD | 8,865,820 | -4,000 | 0.08 | -0.00 | 2021-02-01 | |
| 88 | B01343 | CELETIO INVESTMENTS LTD | 86,300 | -5,000 | 0.00 | -0.00 | 2021-02-01 | |
| 89 | B01373 | CHRISTFUND SECURITIES LTD | 152,161 | -5,000 | 0.00 | -0.00 | 2021-02-01 | |
| 90 | B01666 | GLORY SUN SECURITIES LTD | 20,000 | -5,000 | 0.00 | -0.00 | 2021-02-01 | |
| 91 | B01421 | ONEPLATFORM SECURITIES LTD | 31,400 | -5,000 | 0.00 | -0.00 | 2021-02-01 | |
| 92 | B01115 | SHENWAN HONGYUAN SECURITIES (H.K.) LTD | 1,474,265 | -5,000 | 0.01 | -0.00 | 2021-02-01 | |
| 93 | B01940 | SOFI SECURITIES (HONG KONG) LTD | 108,500 | -5,500 | 0.00 | -0.00 | 2021-02-01 | |
| 94 | B02178 | LEE GO SECURITIES LTD | 0 | -6,500 | 0.00 | -0.00 | 2021-02-01 | |
| 95 | B01556 | LUK FOOK SECURITIES (HK) LTD | 273,860 | -7,500 | 0.00 | -0.00 | 2021-02-01 | |
| 96 | B01511 | TAT LEE SECURITIES CO LTD | 140,220 | -8,000 | 0.00 | -0.00 | 2021-02-01 | |
| 97 | B01904 | VALUABLE CAPITAL LTD | 721,000 | -8,500 | 0.01 | -0.00 | 2021-02-01 | |
| 98 | B01941 | CENTALINE SECURITIES LTD | 69,500 | -9,000 | 0.00 | -0.00 | 2021-02-01 | |
| 99 | B01885 | HAFOO SECURITIES LTD | 179,000 | -9,000 | 0.00 | -0.00 | 2021-02-01 | |
| 100 | B01294 | CS WEALTH SECURITIES LTD | 4,000 | -10,000 | 0.00 | -0.00 | 2021-02-01 | |
| 101 | B02158 | DT SECURITIES & FUTURES CO. LTD | 0 | -10,000 | 0.00 | -0.00 | 2021-02-01 | |
| 102 | B01470 | HUNG SING SECURITIES LTD | 9,500 | -10,000 | 0.00 | -0.00 | 2021-02-01 | |
| 103 | B01439 | TAI TAK SECURITIES (ASIA) LTD | 132,170 | -10,000 | 0.00 | -0.00 | 2021-02-01 | |
| 104 | B01540 | UPBEST SECURITIES CO LTD | 243,750 | -10,000 | 0.00 | -0.00 | 2021-02-01 | |
| 105 | B01695 | DAH SING SECURITIES LTD | 8,923,440 | -11,500 | 0.08 | -0.00 | 2021-02-01 | |
| 106 | B01826 | GF SECURITIES (HONG KONG) BROKERAGE LTD | 405,500 | -12,000 | 0.00 | -0.00 | 2021-02-01 | |
| 107 | B01818 | I-ACCESS INVESTORS LTD | 1,389,543 | -13,500 | 0.01 | -0.00 | 2021-02-01 | |
| 108 | B01813 | CCB INTERNATIONAL SECURITIES LTD | 879,000 | -15,000 | 0.01 | -0.00 | 2021-02-01 | |
| 109 | B01137 | CHOW SANG SANG SECURITIES LTD | 591,347 | -18,000 | 0.01 | -0.00 | 2021-02-01 | |
| 110 | B01345 | PHILLIP SECURITIES (HONG KONG) LTD | 4,105,264 | -20,000 | 0.04 | -0.00 | 2021-02-01 | |
| 111 | B02028 | SORRENTO SECURITIES LTD | 0 | -20,000 | 0.00 | -0.00 | 2021-02-01 | |
| 112 | B01253 | STOCKWELL SECURITIES LTD | 1,207,700 | -22,000 | 0.01 | -0.00 | 2021-02-01 | |
| 113 | C00015 | DBS BANK (HONG KONG) LTD | 14,070,133 | -22,500 | 0.13 | -0.00 | 2021-02-01 | |
| 114 | C00003 | THE BANK OF EAST ASIA LTD | 28,592,188 | -23,000 | 0.26 | -0.00 | 2021-02-01 | |
| 115 | B01727 | ICBC (ASIA) SECURITIES LTD | 9,313,997 | -27,000 | 0.09 | -0.00 | 2021-02-01 | |
| 116 | B01963 | TFI SECURITIES AND FUTURES LTD | 26,500 | -27,000 | 0.00 | -0.00 | 2021-02-01 | |
| 117 | B01086 | EVERBRIGHT SECURITIES INVESTMENT | 10,289,099 | -29,500 | 0.09 | -0.00 | 2021-02-01 | |
| 118 | B01649 | CINDA INTERNATIONAL SECURITIES LTD | 988,000 | -31,000 | 0.01 | -0.00 | 2021-02-01 | |
| 119 | B01143 | HAITONG INTERNATIONAL SECURITIES CO LTD | 2,303,938 | -32,500 | 0.02 | -0.00 | 2021-02-01 | |
| 120 | C00037 | SHANGHAI COMMERCIAL BANK LTD | 7,793,071 | -37,500 | 0.07 | -0.00 | 2021-02-01 | |
| 121 | B01623 | TAI FUNG KUENTAI SECURITIES CO LTD | 2,751,260 | -38,000 | 0.03 | -0.00 | 2021-02-01 | |
| 122 | B01988 | KOALA SECURITIES LTD | 104,000 | -38,500 | 0.00 | -0.00 | 2021-02-01 | |
| 123 | B01793 | ASIA PACIFIC CAPITAL SECURITIES LTD | 120,500 | -40,000 | 0.00 | -0.00 | 2021-02-01 | |
| 124 | C00002 | BANK OF COMMUNICATIONS TRUSTEE LTD | 10,125,102 | -48,500 | 0.09 | -0.00 | 2021-02-01 | |
| 125 | B01110 | J.P. MORGAN BROKING (HONG KONG) LTD | 0 | -56,000 | 0.00 | -0.00 | 2021-02-01 | |
| 126 | B01265 | OCBC SECURITIES BROKERAGE (HK) LTD | 3,684,727 | -63,000 | 0.03 | -0.00 | 2021-02-01 | |
| 127 | B01905 | SDICS INTERNATIONAL SECURITIES (HONG | 449,620 | -69,000 | 0.00 | -0.00 | 2021-02-01 | |
| 128 | B01119 | CELESTIAL SECURITIES LTD | 309,819 | -115,000 | 0.00 | -0.00 | 2021-02-01 | |
| 129 | B01338 | EMPEROR SECURITIES LTD | 679,460 | -139,000 | 0.01 | -0.00 | 2021-02-01 | |
| 130 | B01955 | FUTU SECURITIES INTERNATIONAL | 9,605,154 | -240,500 | 0.09 | -0.00 | 2021-02-01 | |
| 131 | B01284 | HANG SENG SECURITIES LTD | 36,003,604 | -266,002 | 0.33 | -0.00 | 2021-02-01 | |
| 132 | B01353 | UOB KAY HIAN (HONG KONG) LTD | 17,032,246 | -315,500 | 0.16 | -0.00 | 2021-02-01 | |
| 133 | C00042 | CMB WING LUNG BANK LTD | 10,152,316 | -335,000 | 0.09 | -0.00 | 2021-02-01 | |
| 134 | B02176 | PING AN SECURITIES (HONG KONG) CO LTD | 62,500 | -376,500 | 0.00 | -0.00 | 2021-02-01 | |
| 135 | B01491 | CREDIT SUISSE SECURITIES (HONG KONG) LTD | 4,597,901 | -592,000 | 0.04 | -0.01 | 2021-02-01 | |
| 136 | B01224 | MERRILL LYNCH FAR EAST LTD | 25,444,346 | -610,000 | 0.23 | -0.01 | 2021-02-01 | |
| 137 | C00039 | STANDARD CHARTERED BANK (HONG KONG) LTD | 404,325,377 | -655,344 | 3.69 | -0.01 | 2021-02-01 | |
| 138 | A00003 | CHINA SECURITIES DEPOSITORY AND CLEARING | 120,095,969 | -1,017,500 | 1.10 | -0.01 | 2021-02-01 | |
| 139 | B01590 | INTERACTIVE BROKERS HONG KONG LTD | 25,454,470 | -1,055,500 | 0.23 | -0.01 | 2021-02-01 | |
| 140 | B01161 | UBS SECURITIES HONG KONG LTD | 110,966,917 | -1,208,164 | 1.01 | -0.01 | 2021-02-01 | |
| 141 | C00019 | THE HONGKONG AND SHANGHAI BANKING | 1,361,965,637 | -1,724,943 | 12.44 | -0.02 | 2021-02-01 | |
| 142 | A00004 | CHINA SECURITIES DEPOSITORY AND CLEARING | 89,189,954 | -2,792,500 | 0.81 | -0.03 | 2021-02-01 | |
| 143 | C00074 | DEUTSCHE BANK AG | 19,786,898 | -3,066,503 | 0.18 | -0.03 | 2021-02-01 | |
| 144 | B01451 | GOLDMAN SACHS (ASIA) SECURITIES LTD | 53,966,695 | -3,178,996 | 0.49 | -0.03 | 2021-02-01 | |
| 145 | B01274 | MORGAN STANLEY HONG KONG SECURITIES LTD | 26,774,693 | -5,634,810 | 0.24 | -0.05 | 2021-02-01 | |
| 146 | C00093 | BNP PARIBAS | 45,826,205 | -7,654,201 | 0.42 | -0.07 | 2021-02-01 | |
| 146 | Total changed named holdings | 5,535,939,148 | 2,500 | 50.58 | 0.00 | |||
| 229 | Unchanged named holdings | 59,366,952 | 0 | 0.54 | 0.00 | |||
| 375 | Total named holdings | 5,595,306,100 | 2,500 | 51.12 | 0.00 | |||
| 163 | Unnamed Investor Participants | 9,074,138 | -49,000 | 0.08 | -0.00 | |||
| 538 | Total securities in CCASS | 5,604,380,238 | -46,500 | 51.20 | -0.00 | |||
| Securities not in CCASS | 5,341,314,797 | 46,500 | 48.80 | 0.00 | ||||
| Issued securities | 10,945,695,035 | 0 | 100.00 | 0.00 | 31-Jan-2021 |
Trades that settled in this date range
These data are not adjusted for splits or bonus issues during the period.
| Trading date | 2021-01-28 |
| Volume | 42,880,242 |
| Turnover | 770,033,379 |
| Average price | 17.958 |
Sign up for our free newsletter
Recommend Webb-site to a friend
Copyright & disclaimer, Privacy policy