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The goal of RMB exchange rate reform is to establish and improve a managed floating exchange rate regime based on market supply and demand and keep the RMB exchange rate basically stable at an adaptive and equilibrium level.

人民币汇率改革的总体目标是，建立健全以市场供求为基础的、有管理的浮动汇率体制，保持人民币汇率在合理、均衡水平上的基本稳定。

The goal of RMB exchange rate reform is to establish a managed floating exchange rate regime based on market supply and demand so as to keep the RMB exchange rate basically stable at an adaptive and equilibrium level.

人民币汇率改革的总体目标是，建立健全以市场供求为基础、有管理的浮动汇率体制，保持人民币汇率在合理、均衡水平上的基本稳定。

It introduces foreign exchange including the practice and application of spot exchange transaction, forward exchange transaction, swap transaction, arbitrage, covered interest arbitrage, foreign futures, foreign options, and international

该课程主要介绍各类型的外汇交易包括即期、远期、掉期、套汇、抵补套利、外汇期货、外汇期权、国际融资等交易的操作及应用等内容。

Great importance is attached to Chapter three, in which the author analyzes the current condition of national exchange rate risk management in two aspects: internal and external factors. Chapter four presents some solutions to various principal problems, which improve the system of enterprises' exchange rate risk management, and set up an operating mode of mechanism of enterprises' internal previous tergiversation exchange rate risk.

因此，本文第三章着重分析了基于人民币钉住汇率制下我国企业汇率风险管理的现状，包括内部因素的分析、外部因素的分析，并在最后一章——第四章中基于人民币汇率市场化下就各种问题提出相应的对策、完善了企业汇率风险管理系统、建立了企业内部风险预警机制运行模式。

This paper is based on "Trilemma" which is induced from MF model. In order to overcome MF models inherent defects, this paper constructs a static model headed by government on choice of optimum exchange rate regime. Through the analysis of the model we can see that the choice of exchange rate regime is a dynamic process should be decided in real situation. No single exchange rate regime is right for all countries or at all time. Under certain condition intermediate regime may be the optimum one, but the possibility will decrease with the increase of international capital flow.

本文从蒙代尔——弗莱明模型精炼出的"三元悖论"出发，为了克服其内在的缺陷，构建了一个政府主导的静态最优汇率制度选择模型，模型分析表明：汇率制度选择是一个动态的相机决策过程，没有哪一种汇率制度对所有国家或某一国的所有时期都适合；在一定条件下，中间汇率制度可能是最优汇率制度，但是其可选择的区间随着资本流动程度的加大而缩小，最终最优汇率制度将内生的向两极分化。

China has been the first biggest foreign exchange reserved country in the world. With increase of foreign exchange reserve, for the stable of RMB valuta and relieve the international upvalue stress from foreign exchange market for foreign supply is more than need, central bank have to purchase foreign currency for forming huge money supply amount and increase inflation stress.

随着外汇储备的增长，为了维持人民币币值的稳定，减轻外汇市场上由于外汇供给大于需求而产生的人民币升值压力，央行不得不购进外汇，投放基础货币，从而使外汇占款大幅增加，形成巨大的货币供应量，加大通货膨胀的压力。2004年物价的大幅上涨，和外汇储备的快速增长密不可分。

The composition of the dissertation is arranged with five chapters.Chapter One is the legal expounding for the course o...f securities exchange. From a new perspective of contract law and reviewing the development of securities exchange system, the dissertation explores the whole process of securities exchanging on the basis of the introduction of the basic course of securities exchange in our nation and veining from contracting to performing, then it points out that the legal nature of the securities exchanging course is a special commercial sales contract which sets the securities as the object, so the analysis of this chapter provides a technical platform for the following analysis.

本文的主体部分结构框架安排如下：第一章是对证券交易流程的法律解释，本章站在全新的合同法视角上，通过对证券交易制度变迁的回顾，在介绍我国证券交易基本流程的基础上，以从缔约到履约为脉络，分析了证券交易的全过程，并进而指出证券交易流程的法律本质就是以证券为标的物的特殊商事买卖合同，从而为全文的分析搭建了一个技术平台。

Cytophaga sp was selected for heparinase production because it was more productive. Three heparinases, named HⅠ, HⅡ and H Ⅲ were purified from the crude cell extract by means of batch DEAE-Cellulose negative adsorption, Hydroxylaptide adsorption and releasing, SP-Sepharose cation exchange chromatography, Source 30S cation exchange chromatography, Poros 20HS cation exchange perfusion chromatography and Sephacryl S200HR gel permeation chromatography.

利用超声破碎、DEAE-纤维素反吸附去杂、羟基磷灰石批处理吸附层析、SP-Sepharose离子交换层析、Source 30S离子交换层析、Porous20HS离子交换灌注层析及Sephacryl S200HR凝胶排阻层析，从噬纤维菌中纯化出三种新的肝素酶。

In this thesis, the writer expounds the important meaning and basic route of the exchange of mining right, the frondose criterion of the exchange of mining right and some problems that we should pay attention to during the exchange of mining right.

在文章中，笔者介绍了矿业权流转的重要意义及其基本思路，矿业权流转的具体规范，以及矿业权流转中应注意的若干问题。

Regardless to the fact that the exchange ensures an amount of interaction between humans and takes the form of a processual exchange ritual, women in these systems do not have the right of exchange; this is reserved for one of their masculine kin.

无论这样一个事实，即确保交流的经费和人类之间的互动的形式是程序性交换仪式，妇女在这些制度没有权利的交换，这是保留给他们的一个男性亲属。

Nowadays, most of research are to build a transmutative Petri Nets through adding controlling place sets, controlling arc sets and controlling policy to the basic Petri Nets, while the Controlled Petri Nets could be used to argue many controlling theory problems conveniently and to induce many logically and physically supervisory and solve the Event Feedback Controlling Problems and State Feedback Controlling Problem in DEDS supervisory theory.

目前大多数的研究表现为在变形后的受控Petri网基础上，利用各种方法求得各种逻辑型、结构型控制器，解决DEDS监控理论中的事件反馈控制问题与状态反馈控制问题。

On one hand, there are discussions with the works council and union about extension of short time working up to the end of September.

一方面，有讨论，工程理事会和联盟关于延长工作时间短至9月底。