市场交易

With the fast development of China's financial market, the key elements of financialmarket (debenture market, stock market, foreign exchange market and futures market)have developed greatly both in exchange size and varieties exchangeable.

随着中国的金融市场的市场化改革的加速推进，我国的金融市场的重要组成部分债券市场、股票市场、外汇市场和期货市场无论是从规模、还是可以交易的产品品种都得到了空前的发展。

Then positively ana.lyzed transmission effect of monetary policy of China in recent years, and with relative theories, discussed rr~ore deeply the existing principal problems on transmission mechanisms of monetary policy in our state under the realistic institutional situation of economy and finance:(1)Monetary policy tools lag behind the economic and financil background;(2)Separated and uneven money markets, the lack of transaction agents and defect in the relation between money markets and c~potal markets, have rendered the transaction of monetary policy lack on effective channel;(3)over-speculating, illegal operation and insufficient competition have severely weakened the transmission fumction;(4) systematic defect of state -owned commercial bank, asymmetry between financial and economic composition have made monetary policy lose an effective carrier;(5) factors beyond the financial system, such as soft cornstraint over state - owned enterprises policy decision, imperfect social insurance system, etc.

接下来对我国近年来的货币政策传导效果进行了实证分析，在此基础上运用相关传导机制理论并结合我国实际经济、金融制度与环境论述了我国当前货币政策传导机制的主要问题：（1）货币政策工具相对于经济、金融环境显得落后；（2）货币市场的分割、不平衡、交易主体不全以及货币市场与资本市场的联系机制缺位使得货币政策缺乏一个有效的场所；（3）资本市场特别是股票市场的过渡投机、违规操作以及不充分竞争严重地削弱了证券市场的传导功能；（4）国有商业银行现行体制的缺陷，金融结构与经济结构的非对称使得货币政策传导受阻；(5)金融体系外的因素（如国企决策行为软约束、社会保障制度不健全）。

Then positively ana.lyzed transmission effect of monetary policy of China in recent years, and with relative theories, discussed rr~ore deeply the existing principal problems on transmission mechanisms of monetary policy in our state under the realistic institutional situation of economy and finance:(1)Monetary policy tools lag behind the economic and financil background;(2)Separated and uneven money markets, the lack of transaction agents and defect in the relation between money markets and c~potal markets, have rendered the transaction of monetary policy lack on effective channel;(3)over-speculating, illegal operation and insufficient competition have severely weakened the transmission fumction;(4) systematic defect of state -owned commercial bank, asymme try between financial and economic composition have made monetary policy lose an effective carrier;(5) factors beyond the financial system, such as soft cornstraint over state - owned enterprises' policy decision, imperfect social insurance system, etc.

接下来对我国近年来的货币政策传导效果进行了实证分析，在此基础上运用相关传导机制理论并结合我国实际经济、金融制度与环境论述了我国当前货币政策传导机制的主要问题：（1）货币政策工具相对于经济、金融环境显得落后；（2）货币市场的分割、不平衡、交易主体不全以及货币市场与资本市场的联系机制缺位使得货币政策缺乏一个有效的场所；（3）资本市场特别是股票市场的过渡投机、违规操作以及不充分竞争严重地削弱了证券市场的传导功能；（4）国有商业银行现行体制的缺陷，金融结构与经济结构的非对称使得货币政策传导受阻；(5)金融体系外的因素（如国企决策行为软约束、社会保障制度不健全）。

Smith viewed markets and capital as doing good work within their own sphere, but first, they required support from other institutions—including public services such as schools—and values other than pure profit seeking, and second, they needed restraint and correction by still other institutions—e.g., well-devised financial regulations and state assistance to the poor—for preventing instability, inequity, and injustice.

但是，斯密对私人交易的支持，仅仅是为了反驳那种认为停止食物交易就能够消除饥饿负担的信念。这并没有以任何方式否认，市场的运转需要国家行为通过创造工作岗位和收入来进行补充。如果失业的急剧增长是因为不良的经济环境或者不良的公共政策，那么市场无法仅凭自身重新创造出那些失业者的收入。

In the meantime, trade gross of shop of the business on the net of the market is achieved 3.2 million, relatively the corresponding period grew 44.7% last year, relatively on quarterly end grows 8.9%, this quarterly end net hands in easy market to share 29.7 million to register an user.

同时，交易市场的网上商铺总数达到320万，较去年同期增长44.7%，较上季度末增长8.9%，本季度末网上交易市场共有2970万名注册用户。

Changed its name to the registration of stock exchanges to set up in Tianjin and then to the three companies listed on the first trading day of the settlement are to Tianjin "Let me first try to be" a unique advantage for the country to explore the development of the property rights market Direction.

从2001年的天津股权托管交易市场有限公司到今年更名注册成立天津股权交易所，再到首批三家公司挂牌交易，天交所正在以天津&先行先试&的独特优势，为全国产权市场探寻发展方向。

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。

Financial innovations also widened the scope for the funds, with exchange-traded securities making it far easier to trade swiftly in and out of emerging markets, and in markets for commodities and foreign exchange.

金融创新也扩大了基金的投资范围。其中，交易所交易证券的推出，大大降低了迅速转手新兴市场股票以及在大宗商品和外汇市场进行交易的难度。

The rise in the yen – which hit Y93.78 against the dollar and reached a six year high of Y116.21 to the euro – came as investors continued to pull money out of emerging markets and high yielding advanced economies such as Australia, in a reversal of the once-popular "Yen carry trade", playing havoc with equity markets on both ends of the trade.

日元走强（美元兑日元汇率触及93.78日元，欧元兑日元汇率降至6年低位116.21日元之际，投资者持续将资金撤出新兴市场和澳大利亚等高息发达经济体，一度风行的&日元套息交易&发生逆转，给交易两端的股票市场都带来沉重打击。

Although futures markets are changing and becoming more electronic, they are still important risk management tools for farmers and present financial opportunities for all manner of hedgers and arbitrageurs.

自那时以来，期货市场已被复制在世界各地，让各种未来的风险对冲，金融和其他。在美国，芝加哥商业交易所和芝加哥期货交易一直是最流行的期货交易市场。

However, as the name（read－only memory）implies, CD disks cannot be written onorchanged in any way.

然而，正如其名字所指出的那样，CD盘不能写，也不能用任何方式改变其内容。

Galvanizes steel pallet is mainly export which suits standard packing of European Union, the North America. galvanizes steel pallet is suitable to heavy rack. Pallet surface can design plate type, corrugated and the gap form, satisfies the different requirements.

镀锌钢托盘多用于出口，替代木托盘，免薰蒸，符合欧盟、北美各国对出口货物包装材料的法令要求；喷涂钢托盘适用于重载上货架之用，托盘表面根据需要制作成平板状、波纹状及间隔形式，满足不同的使用要求。