And third, given the increasingly importance of financial market in the economy, it is crucial to have a strong, efficient and healthy financial market to avoid any possible distortion, including from inefficient practice that will add more cost in economic financing. However, the development should be undertaken in gradual manner, and again, should always be linked closely with the need of the real economy.
BIS Review 3/2010  3  I will now highlight some issues that I believe should be firstly considered as a starting point to develop our domestic financial market. The development of repo market can be considered as a starting point to increase financial market liquidity. This will increase efficient banking liquidity and portfolio management, as well as government financing.