查询词典 trading market

Ouyang Zehua expresses, card inspect meets will from 4 fields standard " size is not " decrease oppose action: Above all, a large amount of rich trading means, improve a large amount of trading efficiency; The 2nd, increase financing chance for the enterprise, abound financing means, if issue convertible debenture to wait, lest " size is not " partner changes in the absense of capital what hold a share now; The 3rd, the standard decreases those who manage partner to make over behavior, strengthen information exposure; The 4th, from the point of view that balances market supply demand relations, coordinate concerned branch, drive the long-term investor such as fund of insurance company, social security, annuities actively to share the stock market, increase market fund supply, alleviation market supply demand relations.

欧阳泽华表示，证监会将从四个方面规范"大小非"减持行为：首先，丰富大宗交易方式，改进大宗交易效率；第二，为企业增加融资机会，丰富融资方式，如发行可交换债券等，以免"大小非"股东由于缺少资金而变现所持股票；第三，规范减持股东的转让行为，加强信息披露；第四，从平衡市场供求关系的角度，协调有关部门，积极推动保险公司、社保基金、养老金等长期投资者参与股市，增加市场资金供给，缓和市场供求关系。

On Monday, 3 August 2009 if in the reasonable opinion of the Underwriter: the success of the Rights Issue would be materially and adversely affected by: the introduction of any new law or regulation or any change in existing law or regulation (or the judicial interpretation thereof) or other occurrence of any nature whatsoever which may in the reasonable opinion of the Underwriter materially and adversely affect the business or the financial or trading position or prospects of the Group as a whole; or the occurrence of any local, national or international event or change, whether or not forming part of a series of events or changes occurring or continuing before, and/or after the date hereof, of a political, military, financial, economic or other nature (whether or not ejusdem generis with any of the foregoing), or in the nature of any local, national or international outbreak or escalation of hostilities or armed conflict, or affecting local securities markets which may, in the reasonable opinion of the Underwriter materially and adversely affect the business or the financial or trading position or prospects of the Group as a whole; or any material adverse change in the business or in the financial or trading position of the Group as a whole; or any material adverse change in market conditions (including, without limitation, a change in fiscal or monetary policy or foreign exchange or currency markets, suspension or restriction of trading in securities) occurs which in the reasonable opinion of the Underwriter makes it inexpedient or inadvisable to proceed with the Rights Issue; or the Prospectus or announcements of the Company published since the date of the Underwriting Agreement when published contain information (either as to business prospects or the condition of the Group or as to its compliance with any laws or the GEM Listing Rules or any applicable regulations) which has not prior to the date hereof been publicly announced or published by the Company and which may in the reasonable opinion of the Underwriter is material to the Group as a whole and is likely to affect materially and adversely the success of the Rights Issue or might cause a prudent investor not to accept the Rights Shares provisionally allotted to it, the Underwriter shall be entitled by notice in writing to the Company, served prior to the Latest Time for Termination, to terminate the Underwriting Agreement.

务请注意，倘包销商合理认为，则包销商可于二零零九年八月三日下午四时正前，随时向本公司发出书面通知，终止包销协议所载的安排：供股之成效将因下列事项而受到重大不利影响：引入任何新法律或法规，或现行法律或法规有任何改变，或发生包销商合理认为可能对本集团整体业务或财务或贸易状况或前景构成重大不利影响之任何性质之其他事件；或发生任何本地、全国或国际的政治、军事、财务、经济或其他性质（不论是否与上述任何事件同类）之事件或变化（不论是否于本公布日期之前、当日及╱或之后发生或延续之连串事件或变动之一部分），或任何本地、全国或国际性之敌对行为或武装冲突爆发或升级，或发生会影响本地证券市场的事件或变化，且包销商合理认为该等事件或变化可能对本集团整体业务或财务或贸易状况或前景构成重大不利影响；或本集团整体业务或财务或贸易状况出现任何重大不利变动；或市场状况发生任何不利变动（包括但不限于，财务或货币政策或外汇或货币市场的任何变动、证券买卖暂停或受到限制），而包销商合理认为该等变动很可能使进行供股变得不宜或不智；或本公司于包销协议日期后发出之章程或公布载有于本公布日期前本公司未公开发布或刊发之资料（不论关于本集团业务前景或状况或本集团遵守任何法律或创业板上市规则或任何适用法规的情况），而包销商合理认为该等资料可能对本集团整体而言属重大，并很可能对供股的成效构成重大不利影响或可能导致审慎投资者不接纳获暂定配发的供股股份，则包销商可于最后终止时间前，向本公司发出书面通知终止包销协议。

It is concluded that the melioration of land market trading order, the building of public platform and applying the existing system such as property rights and trading rules into the rural land market are the main melioration directions of future land market institutions.

研究结论：未来制度完善的主要方向是土地市场交易秩序的完善、公共平台的架构以及将产权基础、交易规则等既有的制度应用到农村土地市场中。

As the inter-bank foreign exchange trading is a large trading post on the exchange rate the characteristics of the general foreign exchange transactions between banks and the foreign exchange market as a foreign exchange wholesale market, and the banking and foreign exchange transactions between the general, a market that Exchange for the retail market.

由于银行间的外汇交易是一个大型贸易公司后对汇率的特点，一般外汇之间的交易，银行和外汇市场作为外汇批发市场，以及银行业和外汇之间的交易一般，市场作为交换条件的零售市场。

Based on the market microstructure theory, this paper firstly discusses how the different trading mechanisms decide the price and the relationship of the trading mechanism and the volatility of return. Then selecting the stocks synchronously listed in the market of Mainland China and Hong Kong as the sample, we empirically analyze the relationship of the trading mechanism and the volatility of return. After describing the originality variance ratio of the markets, this paper explains the outcome of the empirical and makes a GARCH (1, 1) model for further analyze.

本文以金融市场微观结构理论为基础，首先从理论上探讨了不同的交易机制对股票价格的确定过程，以及交易机制与股票价格波动性的关系问题；接着本文选用同在中国大陆和中国香港地区上市的公司股票每日的开盘和收盘价格为样本，分别以收益率的原始方差比和GARCH(1， 1)模型估计的方差比实证分析了交易机制与股价波动性的关系。

The results are consistent with the interpretation that positive intangible information tends to trigger institutional herding on the buy side.3. The securities Investment Funds act as momentum traders in bear market while as contrariant traders in bull market. Further analysis reveals that momentum trading by investment funds intensifies stock return momentum but stock price experiences a long-term reversal. It indicates return momentum results from mispricing instead of risk. The securities Investment Funds hamper market efficiency when they act as momentum traders.4 Both momentum trading and herding behavior intensify market anomalies and hamper market efficiency. However, momentum trading or herding behavior is the only one of the many aspects of the institutional investor.

第三，机构投资者的动量交易行为会加重了股票收益惯性，这一结论在分别控制股票规模、账面市值比因素后仍成立，并且机构投资者对股票的动量交易行为越强烈，股票收益的惯性也越明显，说明机构投资者具有影响股票价格的能力；进一步的分析表明，惯性利润在长期均实现反转，但反转的周期和程度受动量交易指标值的影响，股票动量交易程度越高，动量收益反转越强烈，反转周期越短，这表明机构投资者的动量交易行为使股价严重偏离其基础价值，在长期，股票价格不断调整逐渐靠近其基础价值，因此可以说，机构投资者对股票的动量交易行为会加重股票收益惯性和阻碍市场效率。

According to the requirements of establishing the fair trading, high quality and top price market competitive system from WTO, but it is hard for our backward trading mode of Fur to suit the developing of topographical, in order to bring in the auction mechanism of Fur, discussing six superiorities of establishing Fur auction house in China: forming the "Open, Fair, Just" market environment; Guiding the aquaculture to adjust the variety structure in time; lowing the trading cost and trading risk; realizing the specialization dimension and standard feeding; controling the supply and demand of market in time; rising the competition of Fur made in domestic.

根据WTO要求我国建立公平交易、优质优价的市场竞争体系，而我国落后的裘皮贸易方式很难适应形势发展的要求等状况，为推动引入裘皮拍卖机制，论述了我国建立国际裘皮拍卖行所具有的6个优势作用：形成公开、公平、公正的市场竞争环境；指导养殖场及时调整品种结构；降低交易成本和交易风险；实现专业化、规模化、标准化饲养；及时掌握市场的供求信息；提高国产皮张竞争力。

Thirdly, the water rights and their trading institutions have been studied in details. The trading incentives and criteria of water resources have been drawn up. According to marketing economy, new trading institutions, including leasing via temporary market, sale and leaseback and option development etc., have been developed, in which the standard steps for leasing via temporary market have been involved and a price model of option development has been founded, too.

进行水权与交易机制的研究，提出了进行水资源交易的诱因和交易的基本原则，根据市场经济学提出了采用通过临时市场交易、售出再租回及采用期权等方法进行水权交易，研究了售出再租回的标准步骤，采用期权理论建立了水资源的期权交易价格模型。

In the early period of China's securities market, margin trading and securities lending business already exists, but because of securities companies at the time of self-binding serious shortage of financial supervision and management abilities, margin trading and securities lending business has not carried out to achieve perfect price formation mechanism of the active market The purpose, it led to the stock market bubble, increased the financial system as a whole systemic risks.

在中国证券市场，保证金交易和证券借贷业务已经存在初期，但由于证券公司在时间自我约束力的金融监管和管理能力，保证金交易和证券借贷业务严重不足，没有进行到实现完美的价格形成机制，活跃市场的目的，这导致了股市泡沫，增加整体系统性风险的金融体系。

Steve Weedon ,the CEO of SCC Europe and the Executive of V.P.,SCC Inc.Edit Yi: Mr. Steve Weedon, could you please explain the range of this exhibition?Steve Weedon: Here we have showing 14,000 products; this is our products with Chinese catalogueEdit Yi: A ll this products are related to China market?

Steve Weldon，作为Static Control Trading 执行副总裁、欧洲执行长，此次来到珠海打印耗材展，除了应邀参加10月13号的Premax 产业峰会外，还负责珠海史丹迪贸易有限公司的展会，我们有幸在休息的间隙采访到他。

Lugalbanda was a god and shepherd king of Uruk where he was worshipped for over a thousand years.

Lugalbanda 是神和被崇拜了一千年多 Uruk古埃及喜克索王朝国王。

I am coming just now,' and went on perfuming himself with Hunut, then he came and sat.

我来只是现在，'歼灭战perfuming自己与胡努特，那麼，他来到和SAT 。