For example, in connection with the growing need for energy conservation by firms and households, small and medium-sized construction firms have entered the geothermal air-conditioning business. An increasing number of firms have been making such moves. I expect that local firms, by utilizing their characteristics and strengths, will proceed with reforms to nurture new areas with potential for growth, achieving further development.
However, as we observed from the ongoing public debate with regard to the cause of the recent turmoil, the similar phenomenon can be found within the authority’s or regulator’s perspective. In particular, on how they perceived risk in setting policy and in regulating financial industry. More specifically on the assumption that market discipline will always work properly.