投资银行

Article 10 The People''s Bank of China is to supervise TICs and their operations according to laws, administrative regulations and these rules.

第十条 中国人民银行依照法律、行政法规和本办法对信托投资公司及其业务实施监督和管理。

In practice, while asset managers typically continue to exercise the core asset management functions, such as investment management, the trend is to outsource all or part of the administrative functions to related or external suppliers. Asset managers are generally interested in outsourcing administrative tasks such as net asset valuation, asset inventories, pre-centralization of orders, accounting reconciliation and communications with brokers/dealers, to enhance efficiency and monitor costs.

通常，为了提高效率控制成本，资产管理公司保留投资管理等核心的资产管理业务，而将净资产估值，预先集中定单处理，银行调节帐户核对与保险经纪人沟通等管理职能部分或者全部外包给其关联公司或第三方劳务外包公司。

The company became incorporated in 1880, with a solid capital of 10 million yen accumulated in Yasuda-ya period, and changed its name to Yasuda Bank. In Taishō period, the Japanese banking community were thrown into financial difficulties because of World War I and 1923 Great Kanto earthquake.

富士银行从事的业务主要有存款、贷款，有价证券投资，国内汇兑，国外汇兑，公司债的受托和登记；兼营业务主要有代理、保管、有价证券的贷款、债务保证等。

B. Stallings ," The Role of Foreign Capital in Economic Development ", in Gary Gereffi and Donald Wyman eds.

如前所述，韩国利用外资的重点不是外国直接投资，而是外国官方贷款和外国私人银行的商业贷款。

Is this kind of financing institution of bank of world regardless, or the world rank ex- big investment group of severals, ocean Doctor, particularly young Doctor, walk a pen,such as absolute being,, each words that almost can stick down the other party to say.

无论是世界银行这种金融机构，还是世界排名前几位的大投资集团，洋博士、尤其是年轻的博士，走笔如神，几乎能记下对方说的每一句话。

Mr Leung's offer, for the moment at least, scuppers[1] bids from two private-equity firms, Australia's Macquarie Bank and America's TPG-Newbridge, which were both willing to pay HK$60 billion for all of PCCW's telecoms and media assets.

至少从目前看，梁伯韬的出价让两家私有股份公司——澳大利亚麦格理银行和美国TPG新桥投资集团

Subordinate wholy-owned or control a company bank account multifarious, capital precipitation phenomenon is more serious and relatively dispersive, the fund that delivers hair company to control a company harder to investing undertakes the palm accuses centralized, form capital dimensions advantage hard.

下属全资或控股企业银行账户繁杂，资金沉淀现象较严重且相对分散，投发公司较难对所投资控股企业的资金进行集中掌控，难以形成资金规模优势。2。

When it alighted on Fortis as the best place to kick start its international ambitions, it thought it was allying with a conservative, low-risk European bancassurer in a deal that would prove mutually beneficial.

当初它曾把富通当作自己进军国际市场的最佳起步点，它认为自己是与一家保守型、低风险的欧洲银行保险公司结成了合作伙伴，这宗投资交易将使两家公司实现双赢。

Prop trading is not as profitable over the long run as many realise, but if banks are also forced to stop investing in hedge funds and private equity, normalised earnings could fall by about 2 per cent, according to Goldman Sachs.

从长期来看，自营交易的利润并不像许多人以为的那样丰厚，但如果银行还被迫停止对对冲基金和私人股本的投资，据高盛估计，正常盈利水平可能会下降2%左右。

The dissertation begins with the investigation of the fruitful research on function of debt governance in developed countries such as UK, US, Japan and Germany, and attempts to fill some important gaps in our understanding of inefficient investment controlling function, bankruptcy threat function and function of creditor's participating in corporate governance; Second, Theoretical and empirical study is done on whether three functions of debt governance can work well in state-owned listed companies. The result shows that so far the function of debt governance can't work well as expected; Third, after examining the special institutional background of China, the dissertation argues, grounded on the research results, that the essential institutional reasons include creditors and debtors being "quasi" market participants, the "quasi-equal" debtor-creditor relationships and the "quasi" market rules; Finally, it comes to the conclusion that the fundamental methods to change the situation are to encourage the supervision of banks, to deepen the reform of state-owned companies and to fulfill the outside institutional requirements for guaranteeing the function of debt governance.

文章首先借鉴英美、日德等发达国家对债权治理功效的已有研究成果，总结归纳出负债抑制非效率投资功效、负债的破产威胁功效以及债权人直接介入公司治理功效；其次，分别对三大债权治理功效在我国国有控股上市公司中能否发挥作用进行理论解析和实证检验，研究发现，目前我国企业债权治理功效不能发挥应有的作用；再次，针对研究结论，从我国特有的制度背景出发，分析其症结，认为我国目前的债权债务双方的&准&市场主体、债权债务双方的&准&平等关系、&准&市场游戏规则是导致债权治理功效不能发挥作用的根本制度原因；最后，提出解决对策，认为增强银行的监督激励、深化国有企业的改革以及实现债权治理功效的外在制度要求是债权治理功效发挥作用的根本途径。

But we don't care about Battlegrounds.

但我们并不在乎沙场中的显露。

Ah! don't mention it, the butcher's shop is a horror.

啊！不用提了。提到肉，真是糟透了。