Rational liquidity management requires that banks should achieve liquidity equilibrium with the lowest liquidity supply cost.

合理的流动性管理要求银行用尽可能低的成本组织流动性供给，以实现流动性均衡。

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Dealer markets achieve liquidity through market makers, who must stand ready to buy or sell a specific quantity of stocks at the price they quote.

经纪人市场通过做市商获得流动性，做市商必须以一定报价，准备买卖一定具体数量的股票。

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Lower stockmarket liquidity is likely to mean more volatility just the opposite of what the government hoped to achieve.

ECONOMIST: Hong Kong