This year our priority is to create a supportive environment to provide hedging tools for investors to effectively hedge and manage risks. The third function is to provide financial services to households and enterprises. Financial services are mostly about resource allocation and risk management. Here I wish to emphasize that professional financial services lower transaction cost and save time.
Efficiency of financial services can be measured by the time saved. For example, 20 years ago, one had to spend half a day to go to several places to pay the water, electricity and housing bills. Ten years ago, a onehour visit to the bank would do the job.