国有

First, it studies the characters of Chinese State-Owned Enterprises on value creation and distribution.

本章分析了我国国有企业价值创造与价值分配的特点，并以国有企业定位的变化验证了我国国有企业价值创造的变迁。

Chapter!? expounds the five main aspect of risk in national commercial bank, i.e..signal liability structure,bad loan quality, low capital efficiency, imperfect restriction on interior power, thin consciousness on risk avoidance;summarizes five characters of the bank risks, including risk concentration, moral risk, risks caused by system structure, inequi ty between bank risks and revenues, aggrandizement trend of bank risks;analysis eight reasons for bank risks, including proprietary ownership voidance,macroeconomic fluctuation, ineffective capita buffer mechanism, enterprise reasons.no synchronous fiscal investment and financial reform, incompetence law and regulation enforcement.

紧接着在第三章阐述了我国国有商业银行风险的"五大表现"，即负债结构单一、信贷资产质量差、资本充足率低、内部控制机制薄弱、防范风险的意识淡薄；总结了我国国有商业银行风险的"五大特点"，即风险高度集中、风险人为匿藏、风险的体制性、风险与收益严重不对称、风险呈继续扩大态势；剖析了我国国有商业银行风险形成的"八大因素"，即金融产权"人格"虚设、宏观经济波动、资本金等缓冲机制不健全、财政、投资和金融的体制改革不配套、法律和法规不健全等。

Although natural monopoly and exterior sex were state-owned asset and existence to offer the most logical explanation, same, stem from national security to wait strategical consideration and the development that assume the burgeoning field that has a risk also often are state-owned economy somewhat factitive is basic reason, but each country is state-owned development state of affairs of economy is very different however.

尽管自然垄断和外部性为国有资产和存在提供了最合理的解释，同样，出于国家安全等战略性考虑以及承担有风险的新兴领域的开发往往也是国有经济有所作为的基本理由，但各国国有经济的发展状况却大不相同。

The research object of this article is state-owned assets of narrow sense, which is the most important, most active, have the character of movement quality, hyperplasic quality and management style variety.

本文的研究对象是狭义的国有资产即经营性国有资产，它是国有资产中最重要、最活跃的部分，具有运动性、增殖性和经营方式多样性的特点。

Evaluating innovation system ability of state-owned coal mines that is predeterminative condition of building high yield and high efficiency innovation system of state-owned coal mine and constituting definitely innovation stratagem of coal mine.

评价国有煤矿创新系统能力是建设高产、高效的国有煤矿创新系统和有的放矢地制定国有煤矿创新战略的先决条件。

First, this chapter points out low level is the actual core competence of state-owned corporation due to the low technology, knowledge, management and rigescent system. So, in order to strengthen the core competence of state-owned corporation, we must transmit the function of government as well as intensify the management of firm.

论文首先指出了我国国有企业的核心能力培育起步较晚，有的企业构建起了核心能力，但水平低下，多数在基础态和亚状态的核心能力间徘徊，真正拥有成熟态核心能力的国有企业并不多见的现实表现；然后从体制方面和企业技术、知识、管理等内外部因素出发，分析了阻碍国企核心能力形成的原因；最后从转变政府职能，培育有利的外部环境和加强企业内部自身修炼两方面入手，提出了加快我国国有企业建立核心能力的对策建议。

In this chapter, the first part is to analyze the deficiency in the supervision and administration system of China"s state assets; the second one is to depict the regulations of the allocation and balance of power in the corporate governance of China"s SOPE, those issued by the Corporation Law of the Peoples Republic of China and the Provisional Regulations of the State-owned Assets; the last to present the significant deficiency in the unclear orientation of SASAC, in the personnel decision controlled by governments and SASAC, as well as in the deprivation of the power of the board of Supervisors posterior to the deepening analysis of the systematic shortcomings.

首先分析了我国现行国有资产监督管理体制的缺陷；然后分析了现行《公司法》和《企业国有资产监督管理暂行条例》规定的国有独资公司法人治理控制权的分配与制衡机制的状况；进而对这种现行制度的缺陷进行了深入剖析，提出国资委的&特色机构&法律定位不明确、政府和国资委牢牢控制了人事权、公司内部实践中的负责制、监事会形同虚设的重大缺陷。

We look at the strategy in China there are many ways because HSBC grows in Hong Kong and Shanghai banking cooperation, so we get a very long history yet, goes back 135 years we have been in the land of your country, several times, over that period of time, but it is terribly important for us it is a very important of the future, I am not say anything because our chairman doesnt say anything possible opportunity to try to impress people that how much you want to be here significant, what I find really fascinating because we have just been spending a lot of time just making research in the brands of China, degree our competitors brand in general, there is a tendency I think among the people of Chinese all think it is a developing country, from the marketing standpoint, brand standpoint, in actually fact, if you look at how Chinese brands behave, it is a very developed country, it behaves much more like France, or the UK, does like Brazil, or Malazia, you have heard how competitive this market places, there are lots of very very good products, very high quality products, lots of very well-excepted local brands have a long history, in fact, it not given one foreign brand comes in, we have history and understanding here, we are the new brand on the block if you like, we have to understand where our initial be in the very complicated very very competitive market place, there are a lot of banks, there are a lot of banks specialized particular sector of the market, they also move to grow become a lot of unbanked people in this country, so all of our present opportunities and my strategy were wave with those

说到我们中国的战略，我想应该有许多种不同的战略吧，因为汇丰在香港和上海都有分支。我们在中国有很悠久的历史，可以追溯到135年前，之后几番登陆中国，但我认为最重要的，还是汇丰未来在中国的发展，虽然我很想让大家知道我们在中国发展的迫切愿望，但我现在不能宣布任何的战略，是因为我们的主席还没有表态。在中国，我们对中国的品牌做过许多的调研工作，把我们的竞争对手分级，最让我感到震惊的，在中国有一种趋势就是，从市场的角度来看，品牌的角度来看，中国的民众都认为中国是一个发展中国家，而实际上，如果你观察一下中国的知名品牌是怎么样运行的，你就会发现更像一个发达国家。这样的品牌行为更像是在法国，在英国，在巴西，或是马来西亚，在中国，你会发现市场竞争也是那样的激烈，中国市场上有许多出色的商品，高质量的商品，有许多拥有悠久历史、具有独特影响力的知名品牌，实际上，任何一个外国的品牌、任何一个后进入者想挤进来，都不是容易的事情。虽然我们很早就和中国有渊源，但我们也可以说是一个新的市场进入者，我们必须在这个复杂而又竞争激烈的市场中找到我们的方向，中国市场上现在有许多的银行，还有许多专门服务于某一特定顾客群的银行，但我们的空间还很大，因为中国还有许多没有开发的处女地，所以，我认为我们现在的机会和战略是和那些竞争对手们在市场上共舞。

We look at the strategy in China there are many ways because HSBC grows in Hong Kong and Shanghai banking cooperation, so we get a very long history yet, goes back 135 years we have been in the land of your country, several times, over that period of time, but it is terribly important for us it is a very important of the future, I am not say anything because our chairman doesn't say anything possible opportunity to try to impress people that how much you want to be here significant, what I find really fascinating because we have just been spending a lot of time just making research in the brands of China, degree our competitors brand in general, there is a tendency I think among the people of Chinese all think it is a developing country, from the marketing standpoint, brand standpoint, in actually fact, if you look at how Chinese brands behave, it is a very developed country, it behaves much more like France, or the UK, does like Brazil, or Malazia, you have heard how competitive this market places, there are lots of very very good products, very high quality products, lots of very well-excepted local brands have a long history, in fact, it not given one foreign brand comes in, we have history and understanding here, we are the new brand on the block if you like, we have to understand where our initial be in the very complicated very very competitive market place, there are a lot of banks, there are a lot of banks specialized particular sector of the market, they also move to grow become a lot of unbanked people in this country, so all of our present opportunities and my strategy were wave with those

说到我们中国的战略，我想应该有许多种不同的战略吧，因为汇丰在香港和上海都有分支。我们在中国有很悠久的历史，可以追溯到135年前，之后几番登陆中国，但我认为最重要的，还是汇丰未来在中国的发展，虽然我很想让大家知道我们在中国发展的迫切愿望，但我现在不能宣布任何的战略，是因为我们的主席还没有表态。在中国，我们对中国的品牌做过许多的调研工作，把我们的竞争对手分级，最让我感到震惊的，在中国有一种趋势就是，从市场的角度来看，品牌的角度来看，中国的民众都认为中国是一个发展中国家，而实际上，如果你观察一下中国的知名品牌是怎么样运行的，你就会发现更像一个发达国家。这样的品牌行为更像是在法国，在英国，在巴西，或是马来西亚，在中国，你会发现市场竞争也是那样的激烈，中国市场上有许多出色的商品，高质量的商品，有许多拥有悠久历史、具有独特影响力的知名品牌，实际上，任何一个外国的品牌、任何一个后进入者想挤进来，都不是容易的事情。虽然我们很早就和中国有渊源，但我们也可以说是一个新的市场进入者，我们必须在这个复杂而又竞争激烈的市场中找到我们的方向，中国市场上现在有许多的银行，还有许多专门服务于某一特定顾客群的银行，但我们的空间还很大，因为中国还有许多没有开发的处女地，所以，我认为我们现在的机会和战略是和那些竞争对手们在市场上共舞。

In the second part, the article specially researches the problems and reasons for the entrepreneur"s motivation and restriction in the reforming of the state—owned enterprise. There are five problems on the previous means of the motivation and restriction, including unclear subject , undistinct object , undefinite principle, unperfect means and diversified goals . The reasons for the problems are that the definition of the entrepreneur in state—owned enterprise is ambiguous ,and the appointment lags behind the reality ,also the trammels of traditional ideas don"t smash.

在回顾了国有企业改革进程中国有企业家激励与约束方式的基础上，分析过去的激励与约束存在主体不明确、客体不清晰、原则不确定、方式不到位、目标多元化的五个问题；然后分析这些问题产生的三个原因，即国有企业家界定的模糊性、任用方式的滞后性和传统思想观念的束缚。

With Death guitarist Schuldiner adopting vocal duties, the band made a major impact on the scene.

随着死亡的吉他手Schuldiner接受主唱的职务，乐队在现实中树立了重要的影响。

But he could still end up breakfasting on Swiss-government issue muesli because all six are accused of nicking around 45 million pounds they should have paid to FIFA.

不过他最后仍有可能沦为瑞士政府&议事餐桌&上的一道早餐，因为这所有六个人都被指控把本应支付给国际足联的大约4500万英镑骗了个精光。