流程

Our factory has advanced manufacture equipments, high-ranged management ability, fine handcraft and good quality.

工厂拥有先进的生产设备，高层次管理水平，精巧的手工艺流程，上乘的产品质量。

RFID technology also can automatically record every event and information about food produce by handhold devices.

并且可以改善生产履历的相关作业流程，使得生产履历中每个需要被纪录的事件可以由农民即时透过装置便利的加以纪录。

Expert knowledge of multiple material and assemblies. Familiar with production processes of hard goods and assemblies (plastic, metals, and machine manufacturing).

多种材料处理和加工的专业知识，熟悉耐用消费品及装配的生产工艺和流程（包括塑胶件，五金件，加工制造类的）。

Accordingly, the hardware configuration and the circuit design of the control system are described.

接下来详细介绍了控制系统的硬件电路设计以及软件的设计流程。

The technology of verifier Hash code is used to defense Denial of Service attack.

改进的远程安全密钥协议通过合并简化协商过程来匹配H.323系统消息的通信流程，改进的鉴别符哈希码技术用于抵抗篡改攻击及拒绝服务攻击。

With the information you've learned so far about software testing and the software development process, you'll have a head start when you begin testing for the first time.

以您目前所学到的关于软件测试和软件开发流程的知识，去开始您的第一次测试，您或许会感觉到头痛。

But he a person contract for the havings in the whole music creation process to live son and this kind of all-directions music cultivated manners seem to be precious.

但他一个人包揽整个音乐制作流程中的所有活儿，这种全方位的音乐素养就显得珍贵起来。

Multinational head-hunting enterprises have not only normative operational processes and excellent management model but also valuable bussiness exprerience in China. So they can be representative of the development direction of headhunting industry in China.

跨国猎头公司既具有规范的操作流程和优秀的管理模式，又拥有在中国经营的宝贵经验，所以其能够代表中国猎头业的发展方向。

More companies have realized that Business Process Engineering on supply chain is a practice and effective way to increase income,build up competition advantage,and to maintain development healthfully.

越来越多的公司开始认识到对供应链实施业务流程再造可以增加经济效益，建立竞争优势，是谋求企业健康持续发展的重要手段。

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。

The split between the two groups can hardly be papered over.

这两个团体间的分歧难以掩饰。

This approach not only encourages a greater number of responses, but minimizes the likelihood of stale groupthink.

这种做法不仅鼓励了更多的反应，而且减少跟风的可能性。