As the price of cigarettes continued to increase, most consumers traded down to the VFM segment.

当香烟价格持续上涨，很多消费者都转向购买廉价香烟。

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However, while in the long term it appears that JTI still has room to grow in the VFM segment, and in the short term, its special dividend remains the catalyst.

不过，从长远来看，JT国际似乎在廉价香烟市场仍有增长空间，而在短期内派发特别股息仍然是催化剂。

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But we dodge that question, and so VFM becomes a conversation about IT convergence, procurement strategy, and data transparency.

BBC: What do we value about the police?