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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。

After being connected with a resistor in series, the primary input end of a transformer is connected with the output end of the live wire and the output end of the null line in parallel, the secondary output end is connected with the two ends of the earth wire switch in parallel after being connected with another resistor in series, one end of a neon lamp in a photoelectric coupler is connected with the input end of the earth wire E and a secondary end of the transformer, the other end of the neon lamp is connected with the centers of the two resistors, one end of a light sensitive resistor in a photoelectric coupling switch is connected with the anode of an integrated circuit power in the creepage protector, the other end of the light sensitive resistor is connected with the anode of a diode, the cathode of the diode is connected with the triggering pole of the silicon-controlled rectifier in the creepage protector, the neon lamp and the light sensitive resistor are positioned into a dark box, and a small hole which avoids the light sensitive resistor is formed on the dark box.

防止地线触点未导通的全能安全插头，包括各带开关的地、零、相三线接线和由零序互感器、脱扣器、放大器、整流器、试验回路和可控硅组成的漏电保护器，变压器初级输入端串联电阻后并接在火线输出端和零线输出端，次级输出端与电阻串联后并联在地线开关两端，光耦内氖灯的一端与地线E输入端和变压器次级的一端连接，氖灯另一端与二电阻的中心连接，光电耦合开关内光敏电阻的一端与漏电保护器内的集成电路电源正极连接、光敏电阻的另一端与二极管的正极连接，二极管的负极与漏电保护器内的可控硅触发极连接，氖灯和光敏电阻置于暗箱中，暗箱上开一避开光敏电阻的小孔。

Stainless steel concave end knurling;DIN915 Stainless steel cylindrical end; DIN914 Stainless steel pointed end; DIN916 Stainless steel concave end; DIN913 Stainless steel flat end; DIN551 Stainless steel slotted point; DIN906 Stainless steel oil plug,semi-circular; Stainless steel two-end hexagonal non-standard; Brass internal hexagonal,cross,non-standard; Brass wobbler,nickel-plated; Stainless steel ,alloy steel heat-resistant; Alloy steel zinc-plated; Alloy steel semi-circular; DIN915 Alloy steel cylindrical end, Philips screw non-standard; DIN916 Alloy steel concave end;DIN914 Alloy steel pointed end;DIN906 Alloy steel oil plug; Corrugated ball; Two-end internal hexagonal non-standard; Textile machine screw-nail; Tool-post screw-nail

不锈钢凹端滚花；DIN915 不锈钢柱端；DIN914 不锈钢尖端；DIN916 不锈钢凹端；DIN913 不锈钢平端；DIN551 不锈钢一字槽；DIN906 不锈钢油塞、半圆；不锈钢2头内六角非标；黄铜内六角、十字槽、非标；黄铜梅花头、镀镍；不锈钢、合金钢耐落；合金钢镀锌；合金刚半圆；DIN915 合金钢柱端、十字槽、非标；DIN916 合金钢凹端；DIN914 合金钢尖端；DIN906 合金钢油塞；波珠；2头内六角非标；纺织机螺钉；刀架螺钉。

Basing on the setup of animal model of root avulsion of the brachial plexus, we divided the experimental animal into four groups by the operative method: Group A: one end of the maternal nerve graft was connected with the upper trunk of the healthy side by end-to-side neurorrhaphy, and the other end was sutured to the distal stump of musculocutaneous nerve infraclevicularly by end-to-end neurorrhaphy. Goup B: on the healthy side, the operation was the same, the other end was sutured to the distal end of C〓 by end-to-end neurorrhaphy on the affected side. Group C: the maternal nerve graft bridged the phrenic nerve and infraclevicular musculocutaneous nerve of the affected side by end-to-end neurorrhaphy. Group D: the phrenic nerve was sutured to the distal end of C〓 supraclevicularly by end-to-end neurorrhaphy.

在构建了模拟小儿臂丛神经根性撕脱伤的动物模型基础上，将实验动物按手术方式分组如下，A组：母鼠提供的的神经移植体一端与子鼠健侧臂丛上干行端侧吻合，另一端与患侧已切断的锁骨下肌皮神经远端行端端吻合。B组：母鼠提供的的神经移植体一端与子鼠健侧臂丛上干行端侧吻合，另一端与患侧已切断的锁骨上颈〓远端行端端吻合。C组：母鼠提供的的神经移植体桥接于子鼠患侧膈神经与锁骨下肌皮神经之间。D组：子鼠患侧膈神经直接与锁骨上颈〓远端行端端吻合。

End-host QoS requires support from the underlying Operation System in the form of network schedulers and traffic controllers.

End-hostQoS的实现需要操作系统的支持，比如提供网络层的系统调度和流量控制。

After beginning the sprite batch you go through all sprites for this frame and rescale their rectangles to fit correctly on the screen , and finally you let everything draw on the screen by calling End .

在开始精灵精灵组之后你要检查这一帧所有的精灵，然后重新调整他们的矩形以适应当前屏幕，最后调用end来将所有东西都绘制到屏幕上。

I looked down a narrow alley, thinking to find at least here the old, squalid North End, but no: more neatly repointed brickwork, new blinds, and a burst of music as a door opened.

我仔细查看了一条窄窄的过道，希望最起码能在那儿找到肮脏陈旧 NORTH END 的痕迹。但是，所能发现的是比以前砌得更整洁的砖，崭新的窗帘和开门时传来的乐音。

Limitations of this study include lack of generalizability to non-US populations, uncertain direction of causality, and possible residual confounding. In addition, further studies are needed to determine if repleting 25-hydroxyvitamin D levels affect hyperglycemia, blood pressure, infection rates, or mortality rates in end-stage renal disease.

研究限制包括，无法一般化美国人以外的人口，无法确定因果关联，可能有其他干扰因素，此外，需要后续研究确认充足的25-hydroxyvitamin D值是否会影响末期肾脏病(end-stage renal disease，ESRD)之高血糖、血压、感染率、死亡率。

Zero day attack will not stop as the bugs in softwares will never end.

零时差攻击不会停止在错误的软件永远不会end。

I went down to the extreme south-east corner of England, Land's End, where there is a huge rock sticking up out of the ocean.

我来到英国的最西南角，叫做Lands End，中文就是&地的尽头&。

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。