流通市场

The aggregate fruit area and output have been the first place for ten years and the trade quantity and trade value increased stably, the fruit products market station been more and more evident in the world as the agricultural structure has been adjusted, agricultural products circulating and trade management system reformed.

近十年来，随着我国农业产业结构的不断调整和农产品流通体制、外贸管理体制的深入改革，我国果林种植面积、产量一直居世界第一位，果林产品的贸易总量和贸易总值连年稳定增长，中国果林产品在世界贸易市场的地位越来越重要。

As a brand new service industry, real estate broking makes much contribution to development of real estate industry and rising of living standard.

房地产经纪业作为房地产市场不可或缺的流通服务行业，为房地产业的发展和人们生活水平的提高作出了诸多积极的贡献。

But if the money is bound ,there will be less curerncy circulating in the market.

但是如果资金被套牢的话，市场上流通的货币就少多了。

It was left to the market to determine how much money will be in circulation.

这是由市场来决定将有多少钱流通。

This chapter shows that the presence of illiquid shares deters some investors from entering the market, with the result of an endogenously thin market.

结论表明，相对于不存在事件风险的情形而言，国有非流通股的存在使得更多投资者不愿进入市场，使得市场流动性进一步下降。

The practice of realtors not only facilitates the development of the real estate market, it also invigorates the market, reduces trading cost, and improves productivity while reducing real estate market risks.

房地产经纪人的活动，不仅促进了房地产业的发展，而且还活跃了市场，节省了流通费用，在降低房地产市场风险的同时，提高了劳动生产率。

China"s stock markets had made a great progress after 14 years" development, their functions of financing, resource disposal, liquidity providing and company management bettering had got well exerted. This means the function efficiency had been improved.2.As for the market structure, operating method and regulations conditions, the participants" structure and quality had been increased fast, the transaction cost had been greatly reduced, and issuing and liquating method had become more fair and effective, the relative laws and regulations had been better and better, the operation efficiency had been improved.3.Compared with other stock markets, China"s stock markets" indexes had performed a good random walk property, which means that the pricing efficiency had been improved.4.Compared with other advanced markets in the world, by and large, on the basis of China"s rapid improvement on economy recently, China"s stock markets" efficiency was relatively low.

根据分析研究，本文的主要结论和观点如下： 1、中国股市14年来的发展取得了重大进步，其融资、资源配置、提供流动性以及改善公司治理等功能都得到了良好的发挥，功能效率程度得到提高； 2、从股市结构、运作机制和体制环境来看，股市主体的结构和质量有了快速提高，交易成本大大降低，发行和流通方式更加公平、有效，各项法律法规也不断得到完善，其运作效率程度得到提高； 3、与世界主要股票市场相比，中国股市指数的随机游走特性逐渐良好，说明14年来，中国股市定价效率得到了快速提高； 4、中国股市与世界先进市场相比，综合来看，考虑到中国股市的发展背景和近几年国民经济的快速发展，其效率还是较低的。

It has linked up the money market and the capital market through the bridge as asset securities.

通过资产证券化这一桥梁，沟通了货币市场和资本市场的资金流通。

There is both current and potential supply and need of corporate bond, thus corporate bond can serve as a good tool in allocation of fund; through the issuance, circulation and trading of corporate bond, the true information on the operation of the corporation can be released to the market; and, corporate bond market can also serve as a complimentary part of China's financial which is currently dominated by Banks.

从我们目前金融市场的供需情况首先可以看出企业债券的发行存在着现实和潜在的供给与需求，能够作为资金利用的另一途径；其次通过规范化的企业债券发行、流通与交易，能够促进金融市场的信息披露；第三，分析了企业债券对于我国目前以银行贷款为主导的金融体系的补充和完善作用。

The announcement on May 21st that it would invest $3 billion of its reserves in Blackstone, a New York-based private-equity firm soon to issue shares, shows that it is prepared to barge into murky private markets as well as liquid public ones.

中国将以其外汇储备的30亿美元投资于黑石公司，该公司是一家位于美国的私人股本公司，不久将发行股票。这一发布于5月21日的消息表明中国将准备同时涉足隐秘的私人股权市场和高流通的公设市场。

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。