国有

Part 1 introduces the ascertainment of key stuff in state-owned commercial banks.

第1部分介绍了国有商业银行核心员工的界定。

From 1990s, with the use of Management Buy-outs by several enterprises in China, a lot of successful cases of MBO had let the economists, managers and policy-makers all concerned with this method. A MBO is a transaction that a group of managers buying a substantial amount of equity or asset in the firm for which they work. After that, the managers control the firm, change the equity and asset structure of the firm. It plays an important role in solving the property right problem of GOE and privately- owned enterprises and their lack of incentive mechanism in China.

进入90年代以来，随着管理层收购被我国一些企业采用，众多管理层收购案例的成功实施引起了中国经济界和企业界的强烈关注，管理层收购作为一种公司管理层购买本企业的股票或资产，以取得目标企业的控制权，从而改变公司所有权结构、控制权格局以及公司资产结构的制度安排方式对我国解决国有企业和民营企业产权不清问题，从而激励管理层提高企业业绩具有重要作用。

Asset securitization in the general direction has not changed, the integration of the two major state-owned assets in Shanghai route is clearly visible: The first is to use alternative means of administrative measures of capital open the reorganization of ideas; followed by the "Eleventh Five-Year","十二五" leading industries as the main battlefield of securitization.

在资产证券化总方向没有改变的情况下，上海国有资产整合两大路线清晰可见：首先是用资本手段替代行政手段的开放式重组思路；其次是将"十一五"、"十二五"主导产业作为证券化的主战场。

Prior to that, in view of the suspension of the Fund's net asset value of the shares, fund companies have provided in accordance with the Securities and Futures Commission has adopted a new method of valuation, it is understood that most of the fund industry's adoption of Securities and Futures Commission-owned industries index as a reference Index valuation.

在此之前，在基金的股票资产净值的中止，基金公司与证券及期货事务监察委员会按照规定采取了新的估价方法，据了解，大部分基金行业通过证券及期货事务监察委员会，国有工业指数作为参考指数估值。

Undoubtedly, nowadays the state commercial banks have a high defective asset ratio.

国有商业银行不良资产比率较高已是一个不争的事实。

In countryside land "Privatization " State asset " Stock " In thefoundation, establishes the personal property property rights.

在农村土地"私有化"、国有资产"股票化"的基础上，确立个人财产所有权。

For state-controlled listed firms,asset turnover is a very important index in the performance evaluation mechanism.

因此，在国有控股上市公司的绩效考核机制中，资产周转率是一个非常重要的绩效指标。

Contrary to asset turnover,profit margin is not a key measure of CEO\'s performance due to the existence of non-profit objectives and lacking of incentive to control the operational cost.

而由于存在非营利目标及缺乏成本控制的激励，利润边际并不是国有控股上市公司考核和决定CEO去留的重要指标。

Moreover,state shareholders tend to monitor CEOs and evaluate their performance basing on asset turnover when there is an indication of non-profit objective such as over-employment or opportunistic behavior,while this is not the case for those private-controlled listed firms.

此外，在存在超额雇员或追求机会主义行为等非业绩目标时，国有股东更倾向于基于资产周转率来考核和更换CEO，可这一倾向在民营控股上市公司中并不明显。

Asset valuation method and market comparison method have been applied in different periods in China.

在我国，国有股权并购价格曾先后采取了资产法和市场法。

Do you know, i need you to come back

你知道吗，我需要你回来

Yang yinshu、Wang xiangsheng、Li decang,The first discovery of haemaphysalis conicinna.

1〕 杨银书，王祥生，李德昌。安徽省首次发现嗜群血蜱。