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Then positively ana.lyzed transmission effect of monetary policy of China in recent years, and with relative theories, discussed rr~ore deeply the existing principal problems on transmission mechanisms of monetary policy in our state under the realistic institutional situation of economy and finance:(1)Monetary policy tools lag behind the economic and financil background;(2)Separated and uneven money markets, the lack of transaction agents and defect in the relation between money markets and c~potal markets, have rendered the transaction of monetary policy lack on effective channel;(3)over-speculating, illegal operation and insufficient competition have severely weakened the transmission fumction;(4) systematic defect of state -owned commercial bank, asymme try between financial and economic composition have made monetary policy lose an effective carrier;(5) factors beyond the financial system, such as soft cornstraint over state - owned enterprises' policy decision, imperfect social insurance system, etc.

接下来对我国近年来的货币政策传导效果进行了实证分析,在此基础上运用相关传导机制理论并结合我国实际经济、金融制度与环境论述了我国当前货币政策传导机制的主要问题:(1)货币政策工具相对于经济、金融环境显得落后;(2)货币市场的分割、不平衡、交易主体不全以及货币市场与资本市场的联系机制缺位使得货币政策缺乏一个有效的场所;(3)资本市场特别是股票市场的过渡投机、违规操作以及不充分竞争严重地削弱了证券市场的传导功能;(4)国有商业银行现行体制的缺陷,金融结构与经济结构的非对称使得货币政策传导受阻;(5)金融体系外的因素(如国企决策行为软约束、社会保障制度不健全)。

Global financial markets continued their disintermediation: the provision of credit moved from banking systems to markets with many sources for corporate funding—distinct markets for equities, corporate bonds, commercial paper, and bank loans.

全球金融市场都继续他们不充当中介体的工作:信贷条款从各种银行体制转向各种具有许多公司融资源的市场,区分了股权、公司债券、商业票据和银行贷款的市场。

China's securities market is a transitional markets from emerging markets to mature markets.

中国证券市场是一个正在从新兴市场向成熟市场过渡的市场。

At the first session of bookish assembly hosted by Secretary General Huang Chin-ying on June 13, Mr. Chuang Hong-kai reported on the book Voluntary Carbon Markets: An International Business Guide to What They Are and How They Work , written by Ricardo Bayon, Amanda Hawn and Katherine Hamilton. The book discussed "voluntary carbon markets" through definition, demand and supply, and the advantages and disadvantages of the market-operating model, cited many expert opinions, and made comparison with the carbon markets of the Kyoto Protocol.

6月13日的读书会在黄晋英秘书长主持下,第一场由庄紘恺先生报告《Voluntary Carbon Markets: An International Business Guide to What They Are and How They Work》,作者为Ricardo Bayon、Amanda Hawn、Katherine Hamilton等,本书从定义、供需及市场运作模式之利弊来论述「自愿性碳市场」,并举出多个专家观点,将之与京都议定书的碳市场比对。

The innovations in this thesis are:(1) based on the literature of futures markets, the reason that futures markets was invented, the basic theory of futures markets function and hedger' s risk-decision are reviewed thoroughly and deeply.

对期货市场的价格发现机制进行研究,提出了价格发现是成熟的期货市场的产物,它是期货市场风险回避功能的派生功能,具有公共产品的性质。

Based on works above all, the thesis compares results of positive analysis with what is going on in real markets, proceeds to verify the results of positive analysis, the thesis brings forward some advice in order to reform and perfect the China"s agricultural commodity futures markets.The first two chapters in this article investigates the unbiasedness hypothesis of futures prices in China"s agricultural commodity futures markets.

第二章详细介绍了协整技术和误差修正机制,利用该技术分析了距离最后交易日一月、二月、三月、四月、五月和六月期的大豆和小麦期货价格与现货价格之间的协整关系,发现四月期以内的大豆和二月期以内的小麦期货价格是对现货价格的无偏预测,而五月、六月期的大豆和三月期的小麦期货价格不是现货价格的无偏预测,四月、五月、六月期的小麦期货价格与相应的现货价格不存在协整关系。

In a specific industry, there possibly coexist monopolistic competition markets, collusive oligopoly markets and monopoly markets.

在一个特定产业内部,可能会有垄断竞争市场、寡头垄断市场和完全垄断市场并存的情况。

In a specific industry, there possibly coexist monopolistic competition markets, collusive oligopoly markets and monopoly markets.

吴赟摘要:在一个特定产业内部,可能会有垄断竞争市场、寡头垄断市场和完全垄断市场并存的情况。

From the general situation of Chinese and foreign publishing industries, publishing markets mainly belong to two kinds of market formations: monopolistic competition markets and collusive oligopoly markets.

但就中外出版业的总体情况来看,出版市场主要分属于垄断竞争市场和寡头垄断市场两种市场形态。

There are over 80 first tier dealers in China; its sales network covers all domestics markets; and its products are sold to overseas markets. Over 3000 sets of forklifts are sold in 2005; about 600 sets are sold to major markets in Europe and America, the sales income is nearly 300 million Yuan. The company has become the most growable forklift and construction machinery manufacturer and major base of forklift development and export in China.

公司已经在国内建立了80多家一级代理经销商,营销网络全面覆盖国内市场,产品批量出口国际市场。2005年叉车产品销售3000余台,销售收入近3亿元,出口欧美主流市场600余台,成为国内最具成长优势的叉车及工程机械强式品牌和国内主要的叉车出口及研发基地。

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