In this context, the government decided the Japan Revitalization Strategy 2016 in June 2016 and launched the 10 strategic public-private joint projects, in which the public and private sectors share knowledge and strategy, and cultivate new promising markets (Chart 4). Looking at the list of projects may leave an impression that it is an all-around list of challenges facing Japan's economy.
•  Monetary policy stands for liquidity injections in (a) normal times (monetary policy operations) and also (b) in times of financial distress (lender of last resort). •  The smooth functioning of payment systems induces (c) the oversight of payment and settlement systems as well as payment instruments.