查询词典 open the market

I think today's market's big rebound is still benefited from the news of the positive changes, in fact, several previous blog, I have repeatedly mentioned the importance of the message surface changes, but fortunately, the message is very disappointing, there have been positive changes, yesterday After the close, the SFC message out to safeguard market stability, the Commission Vice Chairman Liu Xinhua, said:"To ensure a smooth launch of the GEM, smooth operation," this sentence is very important ah, sources said that the GEM Bank rate was only 3.68%, departments is very anxious, I opened two days trading software, that information will be prompted to me:"GEM is drawing near, open an account in order to avoid congestion, allow investors to open an account in advance"!

我觉得今日大盘的大反弹依然是得益于消息面的积极变化，其实前几篇博客中我不止一次提到了消息面变化的重要性，还好，消息面很争气，出现了积极变化，昨天收盘后，证监会消息全力维护市场稳定，证监会副主席刘新华称："确保创业板顺利推出，平稳运行"，这句话很重要啊，有消息称，创业板的开户率仅3.68%，有关部门很着急，最近两天我打开交易软件时会有消息提示我："创业板临近，为避免开户拥堵，让投资者去提前开户"！

But the price,with the exception ofwheat,of almost every agricultural commodity,the price of wool,the price of meat,the price ofcheese,the price of everything that the soil pro- duces,has been largely increased in a market freeand open to the world;because,while the artificialadvantage which you got through protection,as itwas supposed to be an advantage,was removed,you were brought into that free and open market,and the energy of free trade so enlarged the buyingcapacity of your customers that they were willingand able to give you,and did give you,a great dealmore for your meat,your wool,and your productsin general,than you would ever have got under thesystem of protection.

然而，除小麦的价格外，几乎所有农产品的价格、羊毛的价格、猪肉的价格、乳酪的价格、地里生产的任何东西的价格，在自由和对外开放的市场上扶摇直上；因为，通过保护获得的这种人为的有利条件——它曾被认为是有利条件——一旦取消了，你们就被推向自由开放的市场，自由贸易的力量大大提高了你们的顾客的购买力，使他们愿意并能够也确实对你们的肉、羊毛和一般产品付出了比你们在保护制度下所能得到的多得多的钱。

Since the first open-end fund issue, there are 5th redemption, which also reveals more profound form of market phenomena causing open-end fund liquidity risk. In 2002, the open-end fund market was just established, in order to expand the size, many funds only attract institutional investors, and do not distinguish between investor by their liquidity preference. Under such single structure, institutional investors large size redemption will cause fund scale reduced significantly, which suffered huge losses. In 2003, as the Funds growth, more and more retail investors join in fund market and occupy a dominant position. Due to the lack of awareness of the fund market, they all use the concept of stock investment.

自开放式基金成立以来，中国历史上的5次赎回也更深刻的揭示了构成开放式基金流动性风险的市场现象。2002年为开放式基金成立初期，很多基金为了吸纳资本，扩大规模，只面向机构投资者融资，并且不区分投资者的流动性偏好，在这种单一的结构下，机构投资者的大额赎回就导致基金规模的锐减，从而遭受巨大损失。2003年，随着基金的发展，越来越多的散户介入其中并占据主导地位，由于缺乏对基金市场的认识，按照原有投资股票的理念投资基金，所以在低迷的股市稍有起色，基金稍有赢利时，就开始赎回，造成了多只基金净值的损失。2005年，保险行业可以直接入市，再加之逐渐回升的行情和基金公司高额的手续费，很多保险公司开始赎回持有的基金转而直接入市。

These not can block up this market is real to opener more democratic way develops, there also are a few applications above Facebook for instance, meeting tousle informs, send so that also do not know what thing, do you are very fretfully, but had turned round to come I think these things are to meet as open plan deeper and deeper, have the mechanism of a market adjustment, add go to a such models that accuse artificially gradually nap is dropped, so I think you want to say to open, is opening to have what benefit does not have fraud only?

这些并不能阻碍这个市场真正向一个更开放更民主的方向发展，比如Facebook上面也有一些应用，会乱发通知，发得也不知道什么东西，弄得你很烦燥，但回过头来我认为这些事情都是会随着开放的进度越来越深，有一个市场调节的机制，加上人工把控的这样一个模型去逐渐的修整掉，所以我认为你要说开放，开放是只有利没有弊的吗？

That daily turnover in the currency futures is higher relative to open interest (the number of futures contracts that are open at the end of a session) than in the currency options suggests currency futures are more a speculator's market, whereas the option market may be more a hedger's market.

每天貨幣期货的流通量相对于未平仓合约(在季底依然開放的未來合約數量)，比货币期权要高。。。這表明货币期货，相較之下，是一個投机者的市場，而货币期权則是避險的市場。（短线交易者比较多，所以投机成分大）责任编辑：admin

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。

The paper consider actual conditions of Hebei , and carefully analyzied the questions in highway investment and financing. Considering of country investment and financing heavy policy environment, it proposes that Hebei should not stay the highway investment and financings " wait for, by, take ", relying on governmental investment simply, but should fully give play to the role of capital market and financial market. In insist of the policy on " interconnected system loan interconnected system return ", attract social fund extensively, form the macroclimate that the society runs the traffic;Consider the highway assets of the whole province as a whole, make the financing scheme , vitalize the assets. Through capital market, take bid way, project jointlies operate, corporatization, shareholding system, try such ways as franchise operation ,etc. boldly in newly-built project. At the same time, devote more efforts to standing in the government"s policy to highway, set up the capital construction of highway development. Turn to capital market management focal point , investment and financing of management from project management, change direction " melt" from " throw ", open up with innovative idea dissolving enter road construction practice really, try some new financing methods boldly , only in this way , could arouse every side"s enthusiasm further , really open up the unexhausted source for the benign development of road construction of Hebei.

本研究报告充分考虑了河北省的实际情况，对河北省公路投融资工作中存在的问题进行了深入、细致的分析，针对目前国家在公路投融资大的政策环境，提出了河北省公路投融资不能停留在"等、靠、要"，单纯依靠政府投资上，而是应该充分发挥资本市场和金融市场的作用；在坚持省交通厅"统贷统还"的政策下，广泛吸引社会资金，形成社会办交通的大气候；将全省的公路资产统筹考虑，制定融资方案，将资产盘活：通过资本市场，采取招投标方式，将有条件的公路项目进行合资合作、公司化、股份制改造，新建项目大胆尝试特许经营等方式：同时加大政府对公路的政策支持力度，建立公路发展基建；将投融资管理的重点，从项目管理转向资本市场管理，从"投"转向"融"，把开拓与创新理念真正溶入公路建设实践，大胆尝试一些新的融资方法，只有这样，才能进一步调动各方积极性，真正为河北省公路建设的良性发展开辟不竭之源。

As the main section of the open market business, the national debt market is the basis of open market operation of Central Bank.

公开市场业务是中央银行最重要的一个间接货币政策工具，作为公开市场业务主体的国债市场是央行公开市场操作的基本依托。

However, the study based on the analysis of open market operation indicates that the relation between open market operation and monetary aggregate is certain, but the certain relation does not exist between open market operation and interest rate, and the uncertain relation between open market operation and interest rate comes from the uncertainty of IS curve's slope.

以公开市场操作为对象，本文研究表明，公开市场操作和货币量之间确实存在确定的关系，而和利率之间的关系是不确定的；导致利率和公开市场操作关系不确定的主要原因是IS曲线的斜率是不确定的。

We hope to land open to the public auction, if there is no open land auction market, there is no perfect real estate market.

我们希望的土地公开拍卖，如果没有裸露的土地拍卖市场，没有完善的房地产市场。

But we don't care about Battlegrounds.

但我们并不在乎沙场中的显露。

Ah! don't mention it, the butcher's shop is a horror.

啊！不用提了。提到肉，真是糟透了。