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In order to catch up with the step of internationalization, to continually publicize the ARF-pioneered sustainable building formula GB + Symbiosis = SB and symbiotic concept, and to share with the world the achievements of sustainable building promotion in Taiwan, we formed a delegation of 27 members with TSSBE that were founded by the ARF to participate in the triennial World Sustainable Building Conference held at Melbourne (SB08Melbourne) after participating in the SB meeting in 1998, 2000, 2002, and 2005 and the iiSBE Prague Meeting in 2006. Members of the delegation led by Secretary General Huang Chin-ying, also the president of TSSBE, include ex-CPAMI Director Lin Chin-rong, ABRI Director Ho Ming-chin, Chiu Chiung-yu PhD, Archilife Environ-Control Research Center Supervisor Prof. Chiang Che-ming, Archilife Living Research Center Supervisor Prof. Su Ching-hua, and Assistant Cheng Wei-ning; research project principal investigators Mr. Li Yen-yi; Mr. Chou Po-cheng; Miss Tang Shu-chen; Mr. Wang Wen-an; Mr. Chen Tai-an; Mr. Lin Fang-ming; Mr. Chung Sung-chin; Mr. Lin De-en; Mr. Luo Yang-ching; Mr. Chung Cheng-hsin; Mr. Chen Nien-tsu; and members of TSSBE and participants of SB07 Taipei, including Mr. Lee Chuang-yuan, Miss Chang Kuei-feng, Mr. Chung Po-ren, Mr. Hsiao Ruey-lin, Mr. Cheng cheng-li, Mr. Liu Kuang-sheng, Miss Kuo Yi-chun, and Miss Chen Chiu-yu, the assistant.

为贯彻祐生国际化的脚步、持续宣导首创之永续建筑公式GB+Symbiosis=SB与共生化理念，并向全世界分享台湾推动永续建筑之成果，继组团参与1998、2000、2002、2005之永续建筑系列国际性会议及2006年iiSBE布拉格会议后，2008年由本会参与设立的社团法人台湾永续建筑环境促进会及祐生组团共27人前往澳洲墨尔本参加三年一度的永续建筑国际会议SB08Melbourne，并由身兼社团法人台湾永续建筑环境促进会理事长的黄晋英秘书长担任团长，团员包括：前内政部营建署林钦荣署长、内政部建研所何明锦所长与邱琼玉博士、祐生环控研究中心指导教授江哲铭教授、祐生生活研究中心指导教授苏庆华教授、助理郑玮宁小姐、奖助研究案主持人李彦颐先生、周伯丞先生、汤淑贞小姐、王文安先生、陈泰安先生、林芳铭先生、钟松晋先生、戴永禔先生、林得恩先生、罗阳青先生、钟政勋先生、陈念祖先生及社团法人台湾永续建筑环境促进会号召之会员与曾参与SB07 Taipei国际会议之人士，如李创源先生、张桂凤小姐、钟博任先生、萧睿麟先生、郑政利先生、刘光盛先生、郭怡君小姐及团长助理陈秋玉小姐等。

Retail industries from the certificate liquidity, the Shanghai Bureau certificate technical Kam circulation in Shanghai all the Just Gold (or perhaps the request of the government's functional departments); East China University of Science and Technology to identify the majority of certificates in circulation in Shanghai Just Gold; light Public identification of most of the certificates in circulation Just Gold subordinate enterprises in the Ministry of Light Industry; Shanghai baby jade identification of the certificate of Just Gold in Pudong appear more (or perhaps because of its relatively late to set up, in Puxi, the identification of market share has been the top three Brother occupied).

从证书的行业零售流通性讲，上海市技鉴局证书流通于上海所有的金店（也许是政府职能部门的要求）；华东理工大学鉴定证书流通于上海大多数金店；轻工鉴定所的证书大多流通于轻工业部下属企业金店；上海中宝宝玉石鉴定所的证书在浦东的金店出现比较多（也许是因为其成立比较晚，浦西的鉴定市场份额已被前三位大哥占据了）。

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。

On the basis of an analysis of the present profile of automobile consumer credit in China,a discussion is done on the meaning of its development. This thesis introduces the development of the market of automobile consumer credit overseas, and finds out the reasons why overseas automobile consumer credit leads to the successful development of automobile industry. It also analyses the causes of the slump in the market of automobile consumer credit in the country in aspects of influential elements such as economy,policies,society,consumption norms and so on. It has a deep discussion on some obvious problems in this field. For example,the market of automobile consumer credit is of no scale; the prices of automobiles are high; taxes are heavy and expenses are too much; average residents still have low income and no definite balance between income and predicted expenses; there is no perfect social credit system and individual credit system; there is not enough awareness of credit among the public. Taking theories in the area of industrial economics into consideration,it proposes basic measures of promoting the development of consumer credit in China: building up a credited society,a perfect and sound personal credit system.With credit database as the platform,all parties will be able to share information,improve the credit database,relevant regulations and laws as well as a risk warning system,thus operation and management of the operating entities will be improved,the cost of the practice of consumer credit will be reduced; strengthen the innovation of present financial system,develop financial products corresponding to different groups of customers,improve services,perfect the mode of "bank+insurance+automobile agents",make full use of the interne,adopt the practice of turning credit into securities.

本文在我国现阶段汽车消费信贷现状分析的基础上，对大力发展汽车消费信贷的意义进行了讨论；通过分析国外汽车消费信贷市场的发展概况，解析出国外汽车消费信贷促进汽车产业发展成功的原因；从影响汽车消费信贷市场发展的有关因素如经济环境、政策环境、社会环境和消费习惯等方面分析了我国汽车消费信贷市场现状低迷的症结所在；对中国汽车消费信贷市场的一些明显问题，如汽车消费市场尚未形成规模，汽车价格偏高，税费和使用费用负担沉重，相对较低的居民收入与预期收支不确定，社会信用体系尚未建立，个人信用制度缺失，公众信用意识淡薄等方面进行了深入探讨；立足于产业经济学理论，提出了构建信用社会，建立健全和完善个人信用体系，建立个人资信评估机构和登记制度，引入专业的资信中介机构，以信用数据库平台为基础，各方共享资源，组建客户信用数据平台，完善法规制度建设，建立健全汽车信贷消费的法律体系，建立风险预警机制，提高汽车消费信贷经营主体的经营管理水平，降低汽车信贷业务成本，加大金融制度创新的力度，开发适合不同消费群体的金融产品，提高服务质量，完善"银行+保险+汽车经销商"的汽车信贷模式，充分利用互联网、实行贷款证券化等促进我国汽车消费信贷发展的基本措施。

Tuopai Group at the same time commitment, and its holding company and non-tradable shares in circulation to obtain the right to three months after the tenth to the thirty-sixth month, when the price is less than 5.00 yuan / share (due to bonus, provident fund transfer by equity, share placements, issuance of new shares and are such as to send, press the right Rehabus prices), not through the Stock Exchange held by way of sale of shares Tuopai Liquor.

沱牌集团同时承诺，以及其控股公司和非流通股的流通，以获取3个月后，有权向30第十6个月，当价格低于五点〇〇元/股(由于奖金通过公平，配股，新股发行，转让和公积金，如发送，按复权价格)，通过证券交易所举行的不出售股份的方式沱牌酒。

Unlike going long, actively betting against a share price involves red tape and runs the risk of unlimited losses (since a share price can, in theory, rise for ever, whereas it cannot fall below zero).

而长线操作正好相反，这种行为押注股价不会翻红，并且不会无限制的损失（因为从理论上说，一支股票的价格永远是上涨的，而且也不会归零）。

Unlike going long, actively betting against a share price involves red tape and runs the risk of unlimited losses (since a share price can, in theory, rise for ever, whereas it cannot fall below zero).

根据一家研究公司的数据，在金融时报100指数中仅有百分之四点五的股票被用于借股沽空。

Last year, all five steel companies in China accounted for 29% of market share, the top 10 steel companies share reached 43%.

去年我国全五家钢铁企业占市场份额为29%左右，前10家钢铁企业所占份额达到了43%以上。

If the Final Stock Price on the Final Fixing Date is below the Reference Stock Price, where the Share Purchase Option is not exercised, a cash amount equal to the Final Stock Price multiplied by the Number of shares per ELI, less Cash Settlement Expenses. or, where the Share Purchase Option is exercised or is deemed to have been exercised, physical delivery of the Number of Shares per ELI (subject to payment of the Physical Settlement Expenses). If there is any Odd Lot Shares, instead of physical delivery of such Underlying Stock, ELI holders will be entitled to receive a cash amount calculated in accordance with the Condition 6.

倘最终股价於最终定价日低於参考股价，倘购股选择权并无被行使，指相等於最终股价乘以每份股票挂钩投资的股票数目的现金金额，再减现金结算费用。；或倘购股选择权被行使或被当作已被行使，指实物交付每份股票挂钩投资的股票数目如有任何不足一手股票，则股票挂钩投资持有人将有权就该等不足一手股票收取一个根据细则第6条计算的现金金额，而不会以实物交付该挂钩股票。

The major feature of this scheme is that it performs modular additions and subtractions only , and each share appears in multiple share sets and thus is replicated .

整个方案运行过程中只需执行简单的模加和模减运算，有着很高的计算性能。

We have no common name for a mime of Sophron or Xenarchus and a Socratic Conversation; and we should still be without one even if the imitation in the two instances were in trimeters or elegiacs or some other kind of verse--though it is the way with people to tack on 'poet' to the name of a metre, and talk of elegiac-poets and epic-poets, thinking that they call them poets not by reason of the imitative nature of their work, but indiscriminately by reason of the metre they write in.

索夫农 、森那库斯和苏格拉底式的对话采用的模仿没有一个公共的名称；三音步诗、挽歌体或其他类型的诗的模仿也没有——人们把&诗人&这一名词和格律名称结合到一起，称之为挽歌体诗人或者史诗诗人，他们被称为诗人，似乎只是因为遵守格律写作，而非他们作品的模仿本质。

The relationship between communicative competence and grammar teaching should be that of the ends and the means.

交际能力和语法的关系应该是目标与途径的关系。