Mandatory local loop unbundling policy (termed Type II Interconnection (Traditional Chinese:第二類互連) in Hong Kong[13]) started on July 1, 1995 (the same day of telephone market liberalisation), to ensure choice to customers.[14] After 10 years, new operators have built their networks covering a large region of Hong Kong; the government considered it a good time to withdraw mandatory local loop unbundling policy, to persuade operators to build their own networks and let businesses run themselves with a minimum of government intervention. At the meeting of the Executive Council on 6 July 2004, the government decided that the regulatory intervention under the current Type II interconnection policy applicable to telephone exchanges for individual buildings covered by such exchanges should be withdrawn, subject to conditions documented in this Statement of the Telecommunications Authority. After that, the terms of interconnection will be negotiated between telephone operators.