国债

This will also lead to reduce other related bank and non-governmental investment ,which can not be neglected ,on account of its very strong embroilment of effectivity .

直接减少的国债投资是300亿元，但由于国债投资都有很强的带动效应，由这减少的300亿元国债连带而减少的其他相关的银行投资，民间投资数量也不可小视。

Part III is on the possibilities of setting up government bond investment funds in our country.

第三部分是介绍我国国债流通市场中的回购交易、期货交易及国债的偿还问题，并探索在我国建立国债投资基金。

The eighth chapter begins with discussion and empirical demonstration of Chinese benchmark rate, simulates and regresses the benchmark yield curve of Chinese bond according to the latest data, reviews factors having influence on Chinese benchmark yield curve through principal components analysis, illuminates the inescapability of regulation of Chinese bond yield structure through the comparative study on American bond yield curves with different terms.

第八章开始是对我国的基准利率进行探讨和实证分析，接着根据最新的数据来模拟和回归出我国国债的基准收益曲线，在此基础上运用主成分分析法考察了影响我国基准收益曲线的因素，并通过对美国不同期限国债收益率曲线的比较研究，来说明我国国债收益率结构的调整具有不可避免性。

The public debt and public debt policy can become the government's tool of macroeconomic management, and its theoretical foundation is that public debt has the function seigniorage.

国债和国债政策能够成为政府宏观调控工具，其理论基础是国债具有铸币税功能。

To sum up, the financial function of the public debt has widened the function of the public debt policy. The seigniorage function of public debt and the special function of public debt market in providing liquidity make public debt policy become more independent. Therefore, if public debt policy is to play a sufficient role in the macroeconomic management, it is essential to set up a developed and perfect public debt market.

总之，国债金融职能拓宽了国债政策的作用范围，国债的铸币税功能和国债市场在维护市场流动性方面的特殊作用，使国债政策具有较强的独立性，而建立一个发达和完善的国债市场是充分发挥国债政策宏观调控作用的必要条件。

The fifth part has proposed the suggestion of the appropriate scale of national debt of our country from the respects, such as the structure of the national debt, Set up the mechanism of sinking fund, etc.

第五部分从国债结构、建立偿债基金机制等方面提出了我国国债适度规模的建议。关键词：国债规模；结构；风险指标；对策

Because we use the two factors,γ1 andγ2, to explain monetary policy and another two factors, m and n, to explain market volatility exogenously, these results can characterize the relationships in government bond market between volatility and monetary policy, liquidity and returns well.

实证结果表明，模型中引入利率调整因子γ1、准备金率调整因子γ2及流动性因子m和n作为外生解释变量，能够较好地刻画我国货币政策对国债市场波动的冲击、市场流动性对国债收益率波动的影响及国债收益率波动与收益率的关系。

According to the new situation of bonds market, the contents include four parts and also draws following conclusions.——in order to develop the bonds market, we must reknow the function of bonds market at first.

全文共分四部分，通过分析了我国两大国债市场中存在的问题后得出如下结论：——要发展国债市场首先要对国债的功能进行重新认识。

By the end of 2006, outstanding government and semi-government debt totalled $665 billion, accounting for 42% of ex-Japan Asia's official market.

截至2006年底，中国国债和准国债的总规模已达到6650亿美元，在亚洲国债市场中所占的比重为42%。

This disseration studies the government bond function theory from the functional paradigm point of view for the first time, and it points out that ensuring the function supply of government bond is the core issue under the functional paradigm. The government bond reform should pay attention to functional coupling with the external environment, and promote the shifting of government bond positioning from the financial paradigm to the functional paradigm.

本文从&功能范式&视角研究国债功能问题，指出确保国债功能供给、提高国债功能效应是国债&功能范式&下的核心问题，国债改革要重视国债与外部环境间的功能耦合，促进国债管理由&融资范式&向&功能范式&转变。2、观点创新。

According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm～150rpm时取得最大值，此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世，形体几无变化。