证券市场

By approval of the State Council, Ministry of Finance, the State Administration of Taxation decided in October 2008 9 onwards, the securities market of individual investors access to securities transactions settlement funds interest income, interest income, mutatis mutandis, savings deposits, the waiver of personal income tax levy, or the securities market of individual investors in securities transactions settlement funds in October 2008 after 9 (including the October 9) accrued interest income, personal income tax levy waiver.

由国务院，财政部批准，国家税务总局决定在10月2008年9起，个人投资者提供证券交易结算资金的利息收入，利息收入，比照储蓄存款，个人所得税的征收，或在证券交易结算资金个人投资者的证券市场在10月放弃证券市场2008年后，9（包括10月9日）的应计利息的收入，征收个人所得税豁免。

As a Credit expansion mode in securities market,There werea huge risks in Securities Credit Transactions,the core of establish Securities credit trading system is to Control the risk of credit transactions,and exert it's ascendency and active role.by compare and research Mature international credit trading system, this article put forward some relevant recommendations to develop Securities credit transactions on the basis of Learn from international experience and combine with the reality of our country.

证券信用交易作为信用在证券市场上扩张的一种方式也同时存在着巨大的风险，建立证券信用交易制度的核心和目的就是控制信用交易的风险，使其发挥优势和积极的作用。通过对国际上成熟信用交易制度的比较研究，在借鉴国际经验并结合我国实际的基础上，本文初步提出了几点我国开展证券信用交易的相关建议。关键词：证券信用交易证券信用交易制度融资融券

The stock pricing is the focus on the stock market research, it can solve the value centrums of Chinese stock market, provide the support or counterevidence in theory for market supervision, and it also can solve of the problem of irrational investing.

股票市场的定价问题是证券市场研究的焦点问题，其研究的重要意义不仅可在宏观上能解决中国股市的价值中枢，给市场监管提供理论上的支持或反证，另一方面也可从微观层面上解决投资者投资盲从的问题，在当前证券市场持续低迷，可持续发展陷入困境，且本土定价权面临丧失的背景下具有重大的现实意义。

Jobber 股票买卖经纪人 Stock exchanges in other countries have found different solutions to the problem of providing a continuous and free market in securities, with varying degrees of success.

6， 1992 为提供一个连续，自由的证券市场，其他国家的证券交易所已找到各种解决办法，并取得不同程度的成功。在英国，证券市场最基本的自由度是证券批发商所提供的。

The security market is the highly marketing place, so there is inevitably a close relationship between macroscopic economic operation and the security market. How to develop the security market and promote it coordinate with macro-economy under the lowly marketing level of macr

最后对证券市场和宏观经济波动周期异动机制进行分析，认为中国宏观经济周期是政府宏观经济政策调控下的总供给与总需求平衡的结果，并主要从政府行为、法规体系、市场结构、市场体系等方面探讨了证券市场存在的问题。

At present, our government did not do his best in the market supervision .The various forces on the market game seriously and need to strengthen market discipline. These have a serious impact on the healthy development of China's securities market.

我国证券市场目前政府监管不力，市场上各方面势力博弈严重，市场自律也急需加强，已经严重影响了我国证券市场的健康发展。

Secondly, it takes some international typical mechanism of security market for example and deduces useful experience for Chinese market.

之后通过介绍几个国际典型证券市场交易机制的情况，来引出成熟证券市场机制对中国内地证券市场建设的启示。

With economic globalization and more freedom in international finance, an increasing number of countries have loosed financial regulation.

中文摘要：随着经济全球化、国际金融自由化的发展，越来越多的国家放松金融管制，全球证券市场一体化程度在不断加深，中国证券市场的开放力度也在不断地加深，研究中国证券市场在有效地防范金融危机风险的同时，如何获得开放的收益是本文的研究重点。

With the promotion of the reform of securities market and fast development of the capital market of our country, the public company, more remarkably, has exposed in the intricate market risk.

随着我国证券市场改革的深化和资本市场的快速发展，上市公司也更显著地暴露在错综复杂的市场风险中，中国证券市场比较差的外在监管环境、不健全的公司内部管理机制以及市场诞生之初制度性因素的内生阻力、时疾时缓的改革步伐和资本寻求增值的天然冲动等综合因素使得许多上市公司难逃风险伤害而遭受破产、清算的命运：公司面临&退市&风险的考验，债权人、投资者的潜在利益面临巨大损失。

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。

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。