流通

Final appeal country increases piece of committee member to commercial company take seriously, accelerate a country to shed current job to develop, farther implementation is pulled effectively, abidingly move inside need, ensure home consumes growth, and the large and current company that includes Su Ning inside also ought to grow a program for a long time to make and carry out the modern foundation content with long-term with a view to to shed platform to build according to the enterprise.

最后张委员呼吁国家加大对于商业企业的重视，加快国家流通行业发展，进一步实现有效、持久地拉动内需，确保国内消费增长，而包括苏宁在内的大型流通企业也应当根据企业长期发展规划去制定和实施着眼于长远的现代化基础物流平台建设。

Foster service of credit of behavior of mechanism of credit morality, perfect credence, normative credence, development, exert oneself solves government affairs job, production of the respect such as activity of current, intermediary, human relation break one's promise problem, hard compose establishs social government fair justice, manage current honor the agreement the sincere letter system that sincerity of carry out Nuo, human association needs, it is the urgent need of the figure outside promoting Jiangsu to be opposite.

培育信用道德、完善信用机制、规范信用行为、发展信用服务，着力解决政务工作、生产流通、中介活动、人际关系等方面的失信问题，努力构建社会管理公平公正、经营流通履约践诺、人际交往真诚相待的诚信体系，是提升江苏对外形象的迫切需要。

In this thesis,the quantitative analysis mode of the comparative value is put forward that non-circulation share holder should pay for the circulation shareholder,then the formula to calculate shrinking-rate and connotive non-circulation value coefficient are set up.

在提出非流通股股东向流通股股东支付对价的定量分析模型的基础上，推导出计算缩股率与内含非流通股价值评估系数的公式和缩股率与等价送股率的转换公式，并进行实证分析。

The essence of the scheme designing is: stock gross fixed, the quantities of the prohibited shares and public shares are admeasured in the light of their present value proportion.

本方案设计股份全流通的思路是：保持股份总量不变，对原非流通股和流通股依据其现时价值占所有股份总价值的比重进行股份数量的重新平衡分配。

The conclusion of this paper shows that serious agency conflicts caused by sole state shareholders and equity dissevering between large shareholders who own non-tradable stock and small shareholders who own tradable stock, which is also based on agency conflicts in between them in circulation market , which finally result large shareholders' expropriation more serious.

本文研究表明，国有股&一股独大&与股权割裂使得持有非流通股的大股东与持有流通股的小股东之间产生了严重代理冲突，这种冲突是叠加在全流通市场上大股东与中小股东的代理冲突之上，从而导致我国证券市场上大股东侵害程度更为严重。

In the new situation of market economy and intense competition of internationalization, this paper based on the research and analysis of the regular patterns of operation in modern commercial enterprises, systematically brings forward a new framework for operation in modern commercial enterprises,explicating respectively the input of operational elements, the management of operational activities, as well as the output of operation and its beneficial results as specified in the contents and compositional foundation and.

在市场经济和国际化竞争日趋激烈的新形势下，在对现代流通企业经营规律分析研究的基础上，必须要比较全面系统地设计出现代流通企业经营基本模型的新框架，并分别阐明经营要素投入、经营管理活动和经营效益产出的具体内容及构成依据，才能为创新完善现代流通经营理论提出独到的建树。

The third model is die combination widi concentrating-share model and discount model. Firsdy, we must concentrate state-owned share based on investing cost; secondly, we can evaluate die stock on full-flowing condition by discount model, dien we can get die reasonable price of state-owned share.

3折股贴现模型：该模型其实是折股模型与贴现现金流模型的组合，首先我们要将国有股按投资成本进行缩股，使之与流通股同股，进而实现全流通，然后用自由现金流模型计算全流通条件下股票的内在价值，最后再来推算国有股的价值。

The method is based on the inhibitory effect of paracetamol, which is selectively adsorbed by paracetamol-imprinted polymer filled in the CL flow cell, on the chemiluminescence reaction of potassium ferricyanide with luminol in alkaline solution.

将此聚合物颗粒填充在化学发光流通池中，当扑热息痛溶液流过流通池时，扑热息痛分子被填充的印迹聚合物选择性俘获；此时，当铁氰化钾和鲁米诺的混合液流过流通池时，吸附的扑热息痛分子与铁氰化钾发生反应而导致铁氰化钾－鲁米诺反应化学发光信号的降低。

In this round of global stock market adjustment, the Hang Seng Index has fallen far less than the Shanghai Composite Index, but Hong Kong shares end stronger reason, there are several: First, A shares The current average price-earnings ratio of 15 times, while Hong Kong stocks average price-earnings ratio of only 8 times, funds flow to the lower, resulting in the recent Hong Kong stocks rose, while the A shares are still hesitate to move forward; Secondly, the central rate repurchase focus on the H shares, a price comparison of the most typical is now China's oil price of A shares for more than 10 yuan, while the H shares with the right stocks, only 5 more than the Hong Kong dollar, of course, which流通盘size factor, but China's oil major shareholders to buy back its own shares will not take this factor into consideration, if the major shareholders have to consider if the cost of repurchase, H shares more attractive is beyond doubt; and thirdly, the size of the non-lifting of the ban is still in circulation is the pressure in the A share market, the head of a big mountain, but a typical example is the recent Haitong Securities to the size of the non-lifting of the ban period, the outstanding shares for 2.3386 billion shares of Haitong Securities, the size of the non-even up to 79.9396 billion shares, although the size of non-release is gradual, all in circulation there is a process, but it hung a "barrier lake" effect of the market fears.

恒生指数的跌幅远远高于上海综合指数，但香港股市年底更有理由较少，有几个：首先，A股目前的平均价格市盈率为15倍，而香港股市的平均市盈率仅8倍的比例，资金流量较低，在最近香港股市上涨造成的，而A股仍毫不犹豫地向前推进；第二，中央率，H股回购的焦点，一个最典型的价格比较现在是中国的石油A股超过10元的价格，同时拥有股票的H股中，只有5比港币，当然，而流通盘的大小的因素，但中国的石油大股东回购自己的股票将不考虑这一因素，如果大股东要考虑如果回购成本，H股更具吸引力是毋庸置疑的，第三，大小非解禁仍是流通是在A股市场的压力，一座大山的头部，但一个典型的例子是最近海通证券的大小非，禁售期间解除为2338600000的海通证券，在大小非流通股股份，甚至高达799.396亿股，虽然大小非释放是渐进的，所有流通有一个过程，但挂着&堰塞湖&影响市场的担忧。

In this round of global stock market adjustment, the Hang Seng Index has fallen far less than the Shanghai Composite Index, but Hong Kong shares end stronger reason, there are several: First, A shares the current average price-earnings ratio of 15 times, while Hong Kong stocks average price-earnings ratio of only 8 times, funds flow to the lower, resulting in the recent Hong Kong stocks rose, while the A shares are still hesitate to move forward; secondly, The focus of the central enterprises to buy back into the H shares, a price comparison of the most typical is now China's oil price of A shares for more than 10 yuan, while the H shares with the right stocks, only 5 more than the Hong Kong dollar, of course, there are流通盘size factor, but China's oil major shareholders to buy back its own shares will not take this factor into consideration, if the major shareholders have to consider if the cost of repurchase, H shares more attractive is beyond doubt; and thirdly, the size of the non-lifting of the ban circulation is still pressure in the A share market, the head of a big mountain, but a typical example is the recent Haitong Securities to the size of the non-lifting of the ban period, the outstanding shares for 2.3386 billion shares of Haitong Securities, the size of the non-even up to 79.9396 billion shares, Despite the size of the non-release is gradual, all in circulation there is a process, but it hung a "barrier lake" effect of the market fears.

恒生指数的跌幅远远高于上海综合指数，但香港股市年底更有理由较少，有几个：首先，A股目前的平均价格市盈率为15倍，而香港股市的平均市盈率仅8倍的比例，资金流量较低，在最近香港股市上涨造成的，而A股仍毫不犹豫地向前推进；第二，重点中央企业将购回的H股，一个最典型的价格比较现在是中国的石油A股超过10元的价格，同时拥有股票的H股中，只有5较港元当然，有流通盘的大小的因素，但中国的石油大股东回购自己的股票将不考虑这一因素，如果大股东要考虑如果回购成本，H股更具吸引力是毋庸置疑的以及第三，大小非流通的禁令解除仍然在A股市场的压力，一座大山的头部，但一个典型的例子是最近海通证券的非规模的解除班期间，二十三点三八六亿海通证券，在大小非流通股股份，甚至高达7993960.0万股份，尽管大小非释放是渐进的，所有的流通有一个过程，但它挂1 &堰塞湖&市场担忧的影响。

This one mode pays close attention to network credence foundation of the businessman very much.

这一模式非常关注商人的网络信用基础。

Cell morphology of bacterial ghost of Pasteurella multocida was observed by scanning electron microscopy and inactivation ratio was estimated by CFU analysi.

扫描电镜观察多杀性巴氏杆菌细菌幽灵和菌落形成单位评价遗传灭活率。