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For a long-term stable Exchange Rate of RMB, the Commercial Banks are not only lack of a full understanding of Exchange Rate risk but are also lack of the essential experiences and skills to manage the Exchange Rate risk. Exchange Rate System reform makes domestic Commercial Banks face a great challenge of Exchange Rate risk. Adapting RMB Exchange Rate reform and managing Exchange Rate risk are the subjects that the domestic commercial banks must face.

长期稳定的人民币汇率使商业银行对汇率风险既缺少足够的了解和重视,也缺乏必要的外汇风险管理的经验和技能,汇率制度改革使我国商业银行开始真正面临汇率风险的考验,尽快适应人民币汇率制度改革,应对汇率风险是我国商业银行面临的重要课题。

In Chapter 4, the pricing of Asian geometric average option under stochastic interest rates is studied, assuming CIR model for the interest rates. Asian option is strongly dependent with path, usually have a long duration, the movement of interest rates becomes more important in pricing such long-dated options. The CIR interest rate model not only considered the interest rate behavior has mean-reverting but also take into account that the fluctuation rate is direct proportion with the square root of its interest rate. Finally, the method of finite difference for the Asian geometric average option under CIR interest rate model is given.

第四章在利率满足CIR利率模型的假设下,研究了几何亚式期权的定价公式,亚式期权是强路经依赖性期权,通常有效期较长,在进行较长时期的投资时,利率的变化是非常重要的,CIR利率模型不仅考虑了利率行为具有均数回归的现象,而且还考虑其波动性的大小与利率大小的平方根成正比,最后给出了CIR利率模型下的几何亚式期权定价的有限差分法。

The rate of subsidence has been decreasing from area near vertex of delta to the coastal zone and some place is even rising, particularly in the early formed area. What is the different in the coastal is that the rate of subsidence is still high and can sustain a long time. This is because the land subsidence in the delta is mainly caused by the consolidation of sediments if there is no human activity. Especially in the newly formed area, Qingshuigou sub-delta, the rate of subsidence was more than 50 mm/a in the begining and now is still higher than 10 mm/a. When the newly sediments discharged by the Yellow River landed on the subaquatic delta, its load can drive the concolidation of the silt, which is on the surface of the Bohai seafloor. The rate of consolidation of the silt will be decreasing quickly in the first years, but still a long time in the later time with a slow rate.

研究结果表明:现代黄河三角洲在以宁海为顶点的河口扇形区域,近期均经历了不同程度的地表下沉过程,但是随区域地理位置和时间的不同,地表变化空间差异性比较明显;三角洲顶点附近区域的下沉速率自上世纪末开始逐渐减小,后期甚至出现轻微的抬升;滨海沿岸附近地区的地表形变特征相对比较复杂,各期叶瓣相互叠置及其各类沉积物的不均匀分配,使由沉积物自然固结压实引起的地表形变具有显著的空间差异;目前,除清水沟流路叶瓣表现为快速沉降以外,其它滨海沿岸区基本上都表现为微弱的下沉。

This paper has studied the physiological and biochemical changes during the period of forming strong buds of tree peony, and expect to provide academic basis for extending its view value and economic benefit . The main results are as the following:1 Under the field condition, Characteristics of photosynthesis of tree peony are very regular. From before blooming to the prophase of abducting buds that after blooming ,that is April,May and June,the net photosynthetic rate of tree peony is higher than the other period .It indicates that this period is very important for accumulating photosynthetic products of tree peony . So, if we want to get quality flower of tree peony ,it is very important to strengthen the management of tree peony cultivation and to ensure provide the fertilizer and water.2 From the middle ten days of June, with the time elapsing and with the environment conditions worsening, the characteristics of photosynthesis of tree peony decline deeply. But it is different among different tree peony breeds. For example , cv. Wu Long Peng Sheng can also has higher net photosynthetic rate, it indicates that cv. Wu Long Peng Sheng is super than the other two tree peony breeds when adapting the environment conditions and cv. Wu Long Peng Sheng has wide prospect to extend .3 The main factors of effecting the characteristics of photosynthesis are stomatal factor and non-stomatal factor ,that is the ability of photosynthesis of leaf cells. Under the environment of high light intensity in midsummer, if overshadow tree peony properly, then it can slow the declining of chlorophyll content, and increase the net photosynthetic rate and benefit for the accumulating of photosynthetic products.4 The content of soluble sugar in the root of tree peony is the highest among different organs during the period of forming strong buds . According to analyse ,we believe that the soluble sugar will compose starch then, and provide the solid base of material for the growth and development next year. It provide us strong academic basis of adopting the method of cultivating root and protecting root under thefield environment conditions .In other words ,it will help to increase the health level of the whole plant of tree peony and will be beneficial to forming quality tree peony flower if we strengthen the management of root. 5 To tree peony, the endogenesis hormone is important for its growth and development .In the prophase ,that is about the blooming of tree peony and the mid-summer ,IAA and ZR contents are higher and GA content is lower and its changes are very little, and the content of ABA is decreasing . This indicates that IAA and ZR act the important promote function for growth and development of tree peony in this period, and the function of GA is not important. Bur in the period of anniversary senescence of tree peony , the content of IAA and ZR begin to decrease ,while the ABA content has a certain rebound .T

本研究对几个牡丹品种壮芽形成过程中的某些生理生化变化做了研究,以期了解牡丹生长发育过程中生理生化的变化规律,探讨大田栽培条件下提高牡丹花质量的栽培措施和管理技术,为提高牡丹的观赏价值和经济效益提供理论依据,结果如下:1 大田栽培条件下,牡丹光合特性在生长发育过程中表现出极强的规律性,牡丹各品种的光合速率从牡丹开花前,到牡丹花谢后的花芽诱导期前期(6月10日之前),也就是在4、5、6月份,各牡丹品种的净光合速率相对与其他时间都维持在比较高的水平,这说明,在这段时间,是牡丹光合产物积累的重要时期,因此,要保证得到高质量的牡丹花,在这段时间加强对牡丹的栽培管理,保证这个时期的肥水供应十分重要。2 从6月中旬后,随时间的推移,环境条件的恶化,牡丹的光合性能剧烈下降,但是不同牡丹品种间仍有差异,比如,乌龙捧盛仍可维持较高的光合水平,这说明了乌龙捧盛这个牡丹品种对于环境的适应性较之其他牡丹品种高,有着广泛的推广前景。3 影响牡丹光合性能的主要因子是气孔因素和非气孔因素即叶肉细胞的光合能力,在盛夏高温高光强的环境条件下,对牡丹进行适当遮荫,能缓解牡丹叶绿素水平的下降,适当提高Pn,有利于光合产物的积累。4 可溶性糖在牡丹各品种的壮芽形成过程中,根中可溶性糖的含量在牡丹各部位中始终维持最高水平,分析认为这些可溶性糖在根系中进一步合成淀粉等储藏性物质,为来年牡丹的生长提供雄厚的物质基础,这为我们在大田栽培条件下对牡丹采取养根护根的栽培措施提供了有力的理论依据,即在大田栽培条件下,加强对牡丹根系的管理,有助于提高牡丹整株的健壮程度,有益于形成高质量的牡丹花。5内源激素对牡丹的生长发育调节作用是十分明显的,在前期,即开花前后和盛夏,IAA和ZR含量维持在比较高的水平,GA含量低且变化不明显,ABA含量逐渐降低,说明了IAA和ZR对牡丹在这段时间内的生长发育起到重要的促进作用,GA的作用不是很明显,ABA可能在高温高光强下有明显的升高,也说明了ABA的确有一些促进作用,但是到了牡丹周年衰老期,IAA和ZR的含量开始下降,ABA含量却有了一定程度的反弹,说明了IAA和ZR的作用开始降低,ABA起到了促进衰老的作用

A submerged membrane sequencing batch bioreactor was used to treat coke wastewater.Long running performance showed that due to the membrane interception,the nitrobacter is enriched in reactor in the interest of improving the nitrification rate;the maximum ammonia nitrogen loading can be 0.19 kg/(m3·d) with effluent ammonia nitrogen<1 mg/L (removal rate 99%).Long sludge retention time may result in the accumulation of metabolic products and high molecular materials,and thus inhibiting activity of nitrate bacteria and causing a ccumulation of NO2-,which is beneficial to the running of short-cut denitrif ication.However,too long retention time will affect the activity of nitrite bacteria,detrimental to the treatment effect of ammonia nitrogen.

采用浸没式膜生物反应器处理焦化废水的试验结果表明:膜的截留作用可使硝化菌在反应器内富集而有利于提高系统的硝化能力,其去除氨氮的最高负荷为0.19kg/(m3·d),出水氨氮<1mg/L(去除率为99%);泥龄长可能使微生物的代谢产物或其他大分子物质积累,从而抑制硝酸盐细菌的活性,导致NO2-积累而有利于短程脱氮的进行,但泥龄过长也会影响亚硝酸盐细菌的活性,从而影响对氨氮的处理效果。

A submerged membrane sequencing batch bioreactor was used to treat coke wastewater.Long running performance showed that due to the membrane interception,the nitrobacter is enriched in reactor in the interest of improving the nitrification rate;the maximum ammonia nitrogen loading can be 0.19 kg/(m3·d) with effluent ammonia nitrogen<1 mg/L (removal rate 99%).Long sludge retention time may result in the accumulation of metabolic products and high molecular materials,and thus inhibiting activity of nitrate bacteria and causing a ccumulation of NO2-,which is beneficial to the running of short-cut denitrif ication.However,too long retention time will affect the activity of nitrite bacteria,detrimental to the treatment effect of ammonia nitrogen.

简介: 采用浸没式膜生物反应器处理焦化废水的试验结果表明:膜的截留作用可使硝化菌在反应器内富集而有利于提高系统的硝化能力,其去除氨氮的最高负荷为0.19kg/(m3·d),出水氨氮<1mg/L(去除率为99%);泥龄长可能使微生物的代谢产物或其他大分子物质积累,从而抑制硝酸盐细菌的活性,导致NO2-积累而有利于短程脱氮的进行,但泥龄过长也会影响亚硝酸盐细菌的活性,从而影响对氨氮的处理效果。

During the non-isothermal crystallization, compared with common PE, the cooling rate had less impact on the crystallization rate of mPE. Second, the sensitivity of the melt viscosity of mPE to the shear rate was poor, and the introduction of long chain branches onto the molecular structure of mPE could improve the dependence of their melt viscosity on both shear rate and temperature. In the extensional rheometric tests, the occurrence of phenomena of'strain hardening' relied on the structure of linear long chains, and mPE didn't show the behavior of'strain hardening', which implied that the melt strength ofmPE was poor.

其中通过共聚方法在mPE分子中引入非线性长支链结构,对提高mPE熔体粘度对温度的依赖性作用较为明显,而对提高mPE熔体粘度对剪切速率的依赖性以及对提高mPE熔体强度作用较弱;采用共混方法在mPE体系中引入线性长支链结构,则对提高mPE熔体粘度对剪切速率的依赖性以及提高mPE的熔体强度的作用较为明显,而对于提高mPE熔体粘度对温度的依赖性作用相对较弱。

Topics cover a wide range of payroll policiesand procedures regarding wages / salaries / bonus / commission etc., time sheet / timecard, sick / personal / annual leave / long service leave / leave loading, superannuation, PAYG tax withholding, salary sacrifice, payroll tax, PAYG payment summary (formerly called Group Certificate), award application and interpretation (Employment Contract, Federal Award/State Award, EBA, CA, AWA) etc.

这一部分全面讲解澳洲目前的工资系统和工资处理,包括工资的组成和分类,怎样建立和输入原始工资数据,澳洲的工资制度(有关工资的Award, salary package, pay rate,p/t, f/t, temporary / permanent / casual work etc。)的各种规定, PAYG税的扣缴,病假/年假/个人假/长期工休假等方面的工资处理,养老金的核算和缴纳,工资规划,工资税,年终雇员工资汇总表等等。

Topics cover a wide range of payroll policiesand procedures regarding wages / salaries / bonus / commission etc., time sheet / timecard, sick / personal / annual leave / long service leave / leave loading, superannuation, PAYG tax withholding, salary sacrifice, payroll tax, PAYG payment summary (formerly called Group Certificate), award interpretation (AWA,Federal Award/State Award, EBA, CA) etc.

这一部分全面讲解澳洲目前的工资系统和工资处理,包括工资的组成和分类,怎样建立和输入原始工资数据,澳洲的工资制度(有关工资的Award, salary package, pay rate,p/t, f/t, temporary / permanent / casual work etc。)的各种规定, PAYG税的扣缴,病假/年假/个人假/长期工休假等方面的工资处理,养老金的核算和缴纳,工资规划,工资税,年终雇员工资汇总表等等。

Based on those analyses and conformed international and national economic condition in china and some intrinsic defects of target zone regime, author transform target zone exchange rate regime by dividing two layers and bring forward a new exchange rate regime: double-layer-monitor exchange rate regime, the new model have possessed two merits, one is that the new model make "hollymoon effect" of target zone recurrence,and the merit can alleviate the fluctuation of exchange market;another merit is that the new model is a self-regulation system, that is say, the model can avoid long-term misalignment of exchange rate, those merit have major significance for china economy sustainable development and Chinese financial system more perfection, in paper we also present some fiscal policy and money policy served as a foil to double-layer-monitor exchange rate regime in order to make it work well, at last, we conclude that the new model will be the prior selection of RMB exchange rate regime reform for a long time form now on, and it also can serve as the bridge of RMB exchange rate regime steering to one of bipolar—free float.

在这些分析的基础上,并考虑到当前中国所面临的国际国内经济环境,针对汇率目标区的一些固有缺陷,笔者又对汇率目标区模型进行了分层改造,提出了一个新的汇率机制模型:汇率目标区双层监控模型,该模型有两个主要优势,一是可以使&蜜月效应&得以重现,从而避免外汇市场的过度波动;二是该模型是一个自稳定系统,能够进行自我调整,使实际汇率同长期均衡汇率保持一致,从而避免实际汇率的长期错位。这些优点对于我国经济的可持续发展,对于我国金融的更加完善,有着十分重要的意义。为使汇率目标区双层监控模型良好运行,论文还就相应配套的财政政策、货币政策措施作了探讨。最后得出结论,按照汇率制度&并存继起&假说,今后很长一段时间内,汇率目标区双层监控模型都将是人民币汇率制度的合意选择,另外,它也可作为人民币汇率制度向独立浮动制过渡的桥梁。

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Yang yinshu、Wang xiangsheng、Li decang,The first discovery of haemaphysalis conicinna.

1〕 杨银书,王祥生,李德昌。安徽省首次发现嗜群血蜱。

Chapter Three: Type classification of DE structure in Sino-Tibetan languages.

第三章汉藏语&的&字结构的类型划分。