实际

In general, this paper includes several parts, shown as the following: The first part summarizes the background and outline of stock index future and introduce briefly its local status and CSI 300 stock index future contract. The second part has a retrospect of the main academic papers of both local or overseas, and also a discussion of relevant hedge strategies and models, to lay a solid theoretical foundation for the empirical analysis and test for the operation process of hedge in latter parts. The third part outlines the principle, key factors and real operation process of hedge. Moreover, it makes a empirical analysis on popular hedge models with HK Hang Seng index. In the end, it test the hedge effect of trading on IF0706, CSI 300 stock index future contract, with CCB select-growth securities fund as present underlying. The fourth and also the last part, explores how to define hedge ratio in china mainland market. It includes the stability test ofβfor local securities portfolio, adjustment of historicalβand best data length for estimation of historicalβ, etc. Also, the thesis makes some beneficial experiments on the definition of best data length for estimation of historicalβ, survey of fashion forβand variation for industryβs. Fortunately, it's got some meaningful results.

按照以上研究思路，本论文论述由以下几个部分构成：第一部分，简要概述股指期货产生的背景和基本情况，对国内股指期货进程和沪深300股指期货合约进行简单介绍；第二部分，回顾海内外股指期货避险研究的主要文献，讨论相关避险策略及避险模型，为后面套期保值策略如何有效运用的实证分析和检验提供理论基础和依据；第三部分，对套期保值的原理、关键因素及实际流程进行概述，并采用香港恒生指数对常用的几种避险模型进行实证分析，最后一揽子以建信优选成长股票型基金为现货标的，实际检验以沪深300股指期货模拟交易IF0706产品进行对冲时的套期保值效果；第四部分，探讨国内确定避险比率的过程，包括国内股票组合β值的稳定性检验、历史β值的修正及估计历史β值的最佳数据长度等，通过数据分析，本文在寻找估计β值的最佳数据长度和考察风格、行业β值的差异上做了较为有益的尝试，并得到了有助于现实操作的结果。

Forecast total Canadian supply for 2004 is revised up by around 10 kb/d for 2004 based on slightly higher Hibernia production offshore Newfoundland.

加拿大----3月份纽芬兰的实际情况，其他地方2月份的实际情况：在预计3月份和4月份的季节性下降分别为3.5万桶/天和5.5万桶/天之后，加拿大2月份的原油供应量上升了7.5万桶/天。

Designing real network protocols may utilize the facts, such as hierarchical DNS, NTP and hierarchical routing, etc.

在设计实际的网络协议时，可以利用这个实际情况，比如分层的DNS和NTP以及分层路由等。

Bent frame with plane arrangement is considered as the most commom method in practical design based upon the study of hinge joint frame design in monolayer workshop,however,author points out that space influence to side-move distortion and reinforcing of frame pole is more accordant with practical condition.

通过对单层厂房铰接排架的设计分析研究，确定了按平面排架计算是设计人员目前在实际设计中最常采用的方法，指出空间作用对排架的侧移变形及排架柱的配筋更符合实际情况。

So the parameters are used to monitor state of swine herd production in a period. According to number of basal sow and practically reproducing state on current swine farm, using computer to calculate standardized swine herd data, compare with the fact data of hogpen swinery production.

原理是依据现有猪场的基础母猪数量和猪群的某个时间段初期的实际繁殖状态，通过计算机根据工厂化养猪理论参数模拟运算产生出标准猪群生产数据，将之与猪场猪群生产的实际数据相比较，并制出曲线对比图，从对比图中可直观看出猪群生产中的各个环节的优劣，这样就实现了对猪群生产的某个时间段的动态监测功能。

Because many practical problems could been changed to the boundary value problems for holomorphic function or singular integral equations in the mechanics, physics and the engineering technology.

因为力学、物理学、工程技术中的许多实际问题往往可化为这类问题或者化为奇异积分方程，而奇异积分方程又与解析函数的边值问题有着紧密的联系，所以研究这类问题有着重要的实际意义，从而吸引了很多科研工作者从事这方面的研究。

In the homogeneous model, the function of tendons is assumed to be uniform in some approximated way in order to form an equivalent homogeneous material within concrete. The formulation of the homogeneous model is same with that of general FEM for common continuum, let alone the elastic matrix being resultant of that of tendon and concrete. The computation is simple, but the approximate assumption makes this method cannot be generalized, because it only represents the constitution and function of tendons in such a rough way, that the numerical results are inaccurate. In the combined model, the function of tendon is considered by the stiffness matrix with rod element, then add it into the stiffness matrix of concrete by a rational way.

均匀类单元是设想将钢筋均匀弥散于整个单元中，使其成为一种连续均匀材料单元，这种单元的与一般有限元的单元刚度矩阵推导过程一样，只不过其弹性矩阵由混凝土和钢筋两部迭加而成的，此类单元刚阵计算简明而又不会扩大计算规模，但均匀弥散只是为计算简单而作一种假想，不贴近单元构造实际，也不符合实际作用效果。

Based on the hydrokinetics study of jigging process, the free vibration equations of ideal fluid and actual flow vibration equations have been established. These equations are the theoretical foundation to set the operation parameters and air pressure of the jig. The similar criteria and their related equation of model jig have been deducted by actual flow vibration equation. These similar criteria can be used for parameter transformation between model jig and industrial jig. One set of single cell model jig with measuring system has been constructed in laboratory.

本文通过对跳汰过程的流体动力学研究，建立了跳汰机中理想流体的自由振动方程和实际水流的振动方程，为跳汰机工作制度及风源风压的确定提供了理论依据；利用跳汰机中实际水流的振动方程推导出了跳汰机模型试验的相似准数，建立了模化准则关系式，为工业跳汰机与实验室跳汰机之间的参数转换提供了理论依据；并设计建造了一套实验室单槽模型跳汰机及其实验检测系统，为深入开展跳汰理论的研究创造了条件。

From the point of view of the un-touching metering, this paper introduced the problem that we confronted in the safety detection during seismic exploration, analyzed measurement of the safety distance between the operator and the hypocenter, then provided some solutions according to a certain application such as environment changed.

本文从非接触测距角度对地震勘探时的作业安全监测涉及到的若干问题进行了研究，研究了野外地震作业时人员与震源之间的安全距离的测定，根据实际操作中会出现的一些具体情况，如环境条件的变化等，给出一些实际的解决方案。

With this aided system ,we can get the general function of an ichnography edit system,and also get the 3D graphic for the construction site.

利用该系统可以快速地进行施工总平面布置设计，具有一般平面编辑系统所要求的各项辅助功能，同时可以对任意工期内施工现场的实际布置情况进行三维表达或以动画方式模拟实际建筑设施随工期的推进而发生的变化。

Neither the killing of Mr Zarqawi nor any breakthrough on the political front will stop the insurgency and the fratricidal murders in their tracks.

在对危险的南部地区访问时，他斥责什叶派民兵领导人对中央集权的挑衅行为。

In fact,I've got him on the satellite mobile right now.

实际上 我们已接通卫星可视电话了