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In addition, listing abroad for Chinese firms can not produce an enduring increase in firm performance. Therefore,Chinese firms should prudentially select to list in American stock exchanges.

研究结果表明，中国企业在美上市前后，企业绩效先是大幅增长，而后显著下降；另外，中国企业境外上市并不能持续提升企业绩效。

Early in the third quarter as the yang of light and the commencement of its stock is far below the average cost of its market, prices of these stocks often start early or makes up rises prices often appear in the variety; Second, shares are in record highs, but technical correction is more fully, chips have been big money master, from the urgency showing rapid cost regions, such as the early Wuliangye and the Xin'an shares so high is so.

如去年第三季度初期的阳之光，其启动时的股价远远低于其市场平均成本，这类个股往往是行情启动初期或者补涨行情中经常出现的品种；二是股价正处于历史新高，而且技术上盘整较为充分，筹码已经被大资金掌握，急拉后快速脱离成本区域，如前期的五粮液以及不断走高的新安股份等均是如此。

Second, the distributions of the two series are both non-normal, and one series from auction mechanism has peaker mountaintop and fatter tail than the other series from continuous order-driven mechanism. Third, the auction will bring more noise in terms of stock yield, and demonstrate more deviation in the random walk in the market efficiency model.

第二，通过两种交易制度得到的两个股票收益序列的分布都是偏正态的，并且从集合竞价得到的序列比从连续竞价得到的序列尖峰厚尾；第三，集合竞价产生的股票收益比连续竞价产生的股票收益有更大的噪音，对市场有效假说的随机游走形式更大的偏离。

On the other hand, when the stock market from 6000 to 4000 points, down below, the fund managers have continued to sell shares in some people, because in the course of the fall Who is in the position of high rank who is behind on.

另一方面，当从6000到4000点股市，楼下，基金经理们继续抛售股票因为在秋天谁在高位置当然有些人，谁是排名落后。

But to see that in the current rate cut in every country in the world, China is still room to cut interest rates much, if time and again to cut interest rates, a large number of rentier may withdraw from bank deposits, Look for higher investment income, so this is a measure of the stock market is a positive.

但要看到，在每个国家目前的速度在世界上削减，中国仍然有空间降息太多，如果时间和再次降低利率，大量的食利者可能退出银行存款，寻找更高的投资收入，所以这是一个对股市的措施是积极的。

Reporters, according to preliminary statistics, is being issued in the new fund has 11, including the stock-Days Hong Yong set the value of growth funds, fund Xiang Yi Fang Dakota; configuration, including Golden Eagle-dividend value of the fund in the sea Blue-chip flexible allocation of funds, fund selection strategy Fu; bond type, including 10,000 in Paris Tim Shen Po-yi bonds A + B, Yinhua Fund to enhance revenue bonds, bond fund returns Oriental sound, stable and increased profits by HSBC Jin Xin Bond Fund, the Bank of farmers Agricole, and always will benefit by bond funds, the silver-AXA to optimize revenue bond funds.

记者，据初步统计，正在发行的新基金有11个，其中包括股票天闳壅设置的价值成长型基金，基金Xiang易伐嗯达科他州，配置，包括金鹰股息基金的价值在海蓝筹灵活分配资金，基金选择策略富；债券类型，包括万巴黎添申坡义债券甲+乙，银华基金，以提高收入债券，债券型基金回报率东方的声音，由汇丰靳稀嗯债券基金，农民银行法国农业，稳定和增加利润都将受益于债券基金，银安盛优化收益债券基金。

"10 Moves in the stock market is the most direct and effective role in reversing the market's confidence in the economy."

"10股市动作是扭转市场对经济的信心，最直接和有效的作用。"

Alpine meadow and wetland,closely correlated with the amount of water stock in the riverhead of China,is the most important ecosystem of the Qinghai-Tibetan Plateau.This ecosystem is the primary support for the industrial and agricultural and the living using water in the middle east of China,which makes the conservation of alpine meadow and wetland in the Qinghai-Tibetan Plateau have importantly practical significance.

高寒草甸及湿地是青藏高原上最为重要的生态系统，它的状况直接关系到我国江河源头的蓄水量，也关系到我国中部和东部广大地区的工农业及人民生活用水，因此对青藏高原高寒草甸与湿地的保护具有重要的现实意义。

Alpine meadow and wetland, closely correlated with the amount of water stock in the riverhead of China, is the most important ecosystem of the Qinghai-Tibetan Plateau. This ecosystem is the primary sup port for the industrial and agricultural and the living using water in the middle east of China, which makes the conservation of alpine meadow and wetland in the Qinghai-Tibetan Plateau have importantly practical significance.

高寒草甸及湿地是青藏高原上最为重要的生态系统，它的状况直接关系到我国江河源头的蓄水量，也关系到我国中部和东部广大地区的工农业及人民生活用水，因此对青藏高原高寒草甸与湿地的保护具有重要的现实意义。

In recent years,the stock market in Xiangxi has developed very quickly and its role-play in the local economy is on the increase.

近几年来，湘西地区证券市场发展迅速，在地区经济中的作用日益增强。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。