· The Need for Japanese Savers to Become Investors Yasuyuki Fuchita · The Latest Report on the Investment Services Bill Yasuyuki Fuchita · The Livedoor Incident and the Japanese Stock Market Sadakazu Osaki · Diversification of Stock Exchange Trading Platforms Takeshi Inoue · Reforms of Non-tradable Shares Opening the Way for the Privatization of Major State-owned Enterprises C. H. Kwan · Capital Participation of Foreign Investors in China's State-Owned Commercial Banks - A win-win game C. H. Kwan