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This paper analyses the homogenous tendency of open-end fund at first,pointing out that unperfect development of market and investors' immature investment opinions is the origin of such phenomena. Secondly,having compared the fund sizes and purchase fee rates of 25 open-end funds in China,conclude that there are problems of diseconomy of scale and indistinctive relativity between fees and achievement in Chinese open-end funds. Then this paper introduces benefit and cost function to analyze the problem of lack of motivation and constrain mechanism towards fund managers because of unreasonable fees in China. Thirdly,this paper analyze funds managers' normal hazards by static game model,and then points out fund managers have serious tunneling behaviors in Chinese open-end fund industry. In the end,this paper analyzes the causes of liquidity risk of open-end fun and the particularity of liquidity risk of open-end fund in China,and concludes that liquidity risk in Chinese open-end fund industry is higher through calculating the rates of share change and comparing the portfolio selections of top 20 open-end funds in China.

本文首先分析了我国目前存在的基金产品同质化现象，指出市场发展的不完善以及投资者投资理念的不成熟是同质化的根源所在；其次对比了我国现有的25只开放式基金的规模和申购费率，得出了我国开放式基金存在着规模效应不明显以及基金业绩与费率相关性不强的问题，并引入效益函数和成本函数分析了由于我国开放式基金费率不合理引发的基金管理者激励约束机制缺失的问题；再次，应用静态博弈模型分析了基金管理人面临的道德风险，指出目前我国开放式基金由于监管机制脆弱而存在着较为严重的管理者利益输送行为；最后，分析了开放式基金流动性风险的形成原因以及我国基金市场流动性风险的特殊性，并通过计算目前我国基金资产规模前20位的开放式基金的份额变动率以及比较它们的投资组合结构，得出了目前我国开放式基金流动性风险偏大的结论。

This article is closely focus on the development and inditement of the classical realistic oil painting in China, it expatiate the concept and category of the " classical realistic oil painting in China", and make a brief review of the spread and sprout of the earlier period European classical oil painting in China, it also analyze the status which realistic painting predominate the whole condition of painting for a long period, it had an impact on the inditement of classic realistic oil painting in China over a long period of time.

本文紧紧围绕中国古典写实油画的发展与创作这一中心，阐述了"中国古典写实油画"的概念与范畴，并简要回顾欧洲古典油画在中国的早期传播、早期萌芽，分析了写实性绘画长期占主导地位的状况对中国古典写实油画产生的重要作用。

China Life Insurance and Industrial and Commercial Bank of China similar to the massive reduction, China Industrial and Commercial Bank of China Taibao also reduce 236 million shares.

中国人寿和工商银行的中国类似的大量减少，中国工商银行的中国太保也减少二亿三千六百万股。

Although China is anancient country, you are also confident in the future, is committed to next generation can dobetter than this generation, in addition to your growing economy, we are in line with China inscience and research with regard to the power input , including the construction of infrastructureand the use of technology, China is the world's largest country in the use of Internet technology,that is, we are very pleased that the Internet is today part of the activities, the country also hasthe largest mobile telephone network, for new investment to maintain continued growth, andresponding to climate change, there is new investment, I also hope that China would strengthencooperation in this area.

虽然中国是一个古老的国家，你们也是充满信心展望未来，致力于下一代能够比这一代做的更好，除了你们不断增长的经济之外，我们很配合中国在科学和研究方面所投入的力量，包括建设的基础设施和使用的技术，中国是世界上使用互联网技术最多的国家，这就是我们很高兴互联网是今天活动的一部分，这个国家也拥有最大的机动电话网络，对新的投资保持继续增长，和应对气候变化方面有新的投资，我也希望两国加强这方面的合作。

Risk Management worked just as a concept years ago in China, which is now the indispensable operation of almost every company, among which, because of the juvenility of China capital market, banks play a big role, regulating the market operations and providing more support for the China and foreign companies running in China.

在几年前，风险管理在中国还只是一个概念，而现在却是每个公司都无法避免的运作。其中，由于中国资金市场的不成熟，银行在调节市场运作，支持中国公司和外企运作扮演着非常重要的角色。

All kinds of yachts begin to move to the China yacht industry. Some of the local company has also involved in the yacht business, which is considered as an impossible mission in China. A 32m ketch—Dragon I has finished the design, passed the certification and has began the construction in China now. It is a new page of the yacht industry in China.

这两年，中国陆续完成一系列豪华游艇，玻璃钢、钢制、铝合金，各种材质的游艇已经陆续登陆国际市场，一些本土的设计公司和设计院也开始介入曾经国人难以企及的游艇设计行业，并且开始做出成绩。

Article 191 of Proposals on several Issues concerning General Principles of the Civil Law of the People's Republic of China stipulates that an estate which is left by a foreigner who dies in the People's Republic of China with neither a successor nor a legatee shall be handled in accordance with laws of China, except as otherwise stipulated by international treaties concluded or acceded to by the People's Republic of China.

怎样处理在中国境内死亡的外国人的遗产？《中华人民共和国民法通则若干问题的意见》之"191"条规定：在我国境内死亡的外国人，遗留在我国境内的财产如果无人继承又无人受遗赠的，依照我国法律处理，两国缔结或者参加的国际条约另有规定的除外。

As China's largest life insurance companies, the leading company not only the personal life insurance and annuity products suppliers, a leading group life insurance and annuity products suppliers, a leading accident insurance providers, leading health insurance providers, but also through Holdings of China Life Asset Management Co., Ltd. has become China's largest insurance asset managers and institutional investors, China's largest one.

作为中国最大的人寿保险公司，本公司不但是领先的个人人寿保险与年金产品供应商、领先的团体人寿保险和年金产品供应商、领先的意外险供应商、领先的健康险供应商，更通过控股的中国人寿资产管理有限公司成为了中国最大的保险资产管理者及中国最大的机构投资者之一。

State Key Laboratory of Lake Science and Environment, Nanjing Institute of Geography and Limnology, Chinese Academy of Sciences, Nanjing 210008, China; 2 National Climate Center, China Meteorological Administration, Beijing 100081, China; 3 Graduate University of Chinese Academy of Sciences, Beijing 100049, China

中国科学院南京地理与湖泊研究所湖泊与环境国家重点实验室，南京210008；2 中国气象局国家气候中心，北京100081；3 中国科学院研究生院，北京100049

The coming year 2010 will be an important linage in the bilateral relation between China and Italy. Now both sides are co-operating closely, preparing for the "China Cultural Year" in Italy. These "Cultural Year" activities will be a comprehensive grand occasion lasting about one year, and they will involve various fields. I am convinced that these activities will offer a platform for the further communication and co-operation in all respects between the two countries, and that they will help Italian people to fully appreciate the charming ancient civilization of China and learn about its vigor in today's economic and social development. Doubtlessly, it will be the best present to the 40th anniversary of the establishment of diplomatic relationships between China and Italy

即将到来的2010年是中意双边关系继往开来的一年，目前双方正密切配合，精心筹备意大利"中国文化年"活动，它将是一次时间跨度约一年、内容涵盖各个领域的综合性盛典，相信以此为平台，将进一步密切两国全方位的交流与合作，增进意大利人民对中国古老文明魅力和当今经济社会发展活力的全面了解，这无疑是献给中意建交40周年的最好礼物。

According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm～150rpm时取得最大值，此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世，形体几无变化。