· The Implications of a Recent Attempt to Acquire Shares in Osaka Securities Exchange Sadakazu Osaki · Disclosure of large shareholdings Sadakazu Osaki · The sale of investment trusts by the post office Toshio Taki · Reform of China's Foreign Exchange Rate System--How the Newly Adopted Managed Floating System Actually Works C. H. Kwan · The Northeast Asian Financial Hub Project in South Korea and the Conditions for an Asian Financial Center Takayuki Urade