资本交易

It is the modern society adapts the socialized big production producer goods organization form, the stock is society returns, producer goods (including capital, technology, management, trademark brand and so on visible and intangible asset) the stock, is thin, lets the social public have, the circulation transaction, can maximum limit optimize the capital the effective disposition, the promotion productive forces development.

它是现代社会适应社会化大生产的生产资料组织形式，股份化就是社会化，生产资料（包括资本、技术、管理、商标品牌等有形和无形资产）的股份化、细化，让社会公众持有、流通交易，能够最大限度地优化资本的有效配置，促进生产力的发展。

Through capital gains tax and income tax differences between analysis and on readjustlnents in respect of the levy of a capital gains tax status and on the stock market, with emphasis on the sensitivity of meaning from the actual demonstration of levying capital profits tax on the feasibility of upcoming trends, while the levy of a capital gains tax on the limitations of China's securities, taxation should be elaborated in accordance with the tax burden of the principle of fairness for reform is to establish harmonious socialist society.

通过对资本利得税与所得税之间的差异分析和对目前我国就开征资本利得税现状及其对证券交易市场敏感性的探讨，着重从实际意义方面论证我国开征资本利得税的可行性趋势，同时提出近期开征资本利得税的局限，阐述我国证券税制应按照税负公平原则进行改革，是建立社会主义和谐社会的必然要求。

To this, chinese manage capital carries out copartner Qian Xuefeng to suggest, landing formally do poineering work board before, might as well build a similar OTC (Over The Counter, curbstone market, trade adversary talks things over under the counter undertake trading man-to-manly) trade definitely platform, let an enterprise grow one year first on platform, it is mature to wait go up again, also can reduce the probability that retreat city as far as possible so.

对此，汉理资本执行合伙人钱学锋建议，在正式登陆创业板之前，不妨建立一个类似OTC（Over The Counter，场外交易市场，交易对手私下协商进行一对一的交易）的准交易平台，让企业在平台上先成长一年，等成熟了再上，这样也能尽可能降低退市概率。

It would set the tone for capital markets in a way that would not be viscerally opposed to a strong public oversight function with rules for intervention, and would return to capital formation the goal of economic growth and development rather than trading for its own sake.

它将为资本市场定下基调：不会本能地通过干预规定反对强有力的公共监督职能，并重新将经济增长和发展的目标设定为资本形成，而不是为了交易而交易。

Based on its sound investment philosophy, strict decision-making procedure and steady running style, BOHO provides series of project solution and operating services for global capital and hi-tech possessors, dedicated to seeking cooperative opportunities for global capital, technology, market, facilitating their successful combination, innovating growth mode of enterprises, accumulating fortune for stakeholders.

高新技术产业化方案设计运作、商业模式与制度设计、产权交易与并购、资源外包与合作服务、整合推广与营销服务、跨国公司项目合作、融资模式设计与运作、 IPO 方案设计与运作、全球整合与资本运作，风险、战略、私募等资本导入，各类资本投资方案设计与运作，资本结构与组合层次方案设计，政府与民间项目招商引资服务，投资关系冲突与危机管理服务。

With complex system and behavioural finance theory, a multi-agent trade market model is primarily built. Furthermore a relevant information auto- retrieval platform based on Internet, a background-based distributed computing platform for apperceiving agent and a simulated real-time trade system are primarily realized. Both experimental results and theoretical analyse show that effective market hypothesis as support for capital market and capital asset pricing theory (Nobel Prize in economics in 1990) are defective. These results also verify the feature of GARCH model (Nobel Prize in economics in 2003). Moreover, a quantitative analytic way to behavioural capital asset pricing theory (Nobel Prize in economics in 2002) in behavioural finance is presented.

结合复杂系统理论和行为金融学理论，初步建立了一个主体交易市场模型，一个基于互联网的信息自动获取平台、一个基于后台分布式主体感知计算平台和一个模拟实时交易的原型系统，在此基础上，通过大量的数据计算、实验和理论分析，指出了资本市场的理论支柱之一的有效市场假设理论和资本资产定价理论（1990年诺贝尔经济学奖）存在的缺陷，验证了GARCH模型（2003年诺贝尔经济学奖）的特征，提供了行为金融学中行为资产定价理论（2002年诺贝尔经济学奖）的初步量化分析结果。

The End of Money and the Future of Civilization demystifies the subjects of money, banking, and finance by tracing historical landmarks and important evolutionary shifts that have changed the essential nature of money.

资本的末日文明的未来》通过追溯改变资本实质的历史重要事件和关键变革来阐述资本、银行交易以及财政。

A effective financial system is beneficial to risk trading, avoiding, disassembling, and is easy for market individual to get the information about investment and allocating which accelerate social capital mobilization, accumulating and converting to long-term industrial capital from scattered small capital. The valid price system of financial instrument inflecting real economy accurately promote finance capital's flowing and allocating among social sector and region.

有效的金融体系有利于风险交易、风险规辟、风险分解和各交易主体的风险分担，同时市场化的融资机制有助于获得更多有关投资和资源配置的信息，这都大大加快了在经济发展中对社会资本的动员、积累以及有效转化，使分散零星的小额资本转化为大规模的长期产业资本，同时，证券化金融产品具有的灵敏、有效的价格信息，反映了实体经济真实情况，进而引导金融资本在各产业、部门间实现有序流动、合理配置。

Due to the above problems in ascertaining capitalization rates, it can be assumed that capitalization rate is one of the main factors in causing risks in REA. Thus, the ascertaining of capitalization determines the accuracy of profitable housing properties appraisal. On the other hand, it indirectly influences the rationality of the re-composition of capitals and the structural modulation. Furthermore, it influences the legitimate rights of the privies involved in real estate dealings; it influences the standardization of real estate markets; it influences the risks involved in real estate financing; it also influences real estate taxation.

因此资本化率的确定直接影响收益型房地产估价的准确性，间接影响资产重组和结构调整的合理性，影响房地产交易各方当事人的合法权益，影响房地产市场的规范性，影响房地产融资风险、房地产税的征管工作等各方面；而且目前，对资本化率的确定方法并不统一，有着多种做法，有时这些做法的估价结果相差极大，因此，对资本化率进行深入研究是非常有必要的。

Hua Xing capital by Yuan Yaxin chief strategy Guan Baofan heads a group, in trade case amount and equity trade amount is ranked in two index the first; Chinese can invest by already did poineering work in Silicon Valley the successful, Chen Hong that weighs war drum of beat a drum again is made, its individual glamour cannot small gaze; And the kind that Yi Kai capital carries the passenger that write rich completely by Wang Ran, domain of new entertainment of take root new media.

华兴资本由原亚信首席战略官包凡带队，在交易案例数量和股权交易金额两项指标中排名第一；汉能投资由在硅谷已创业成功、又重擂战鼓的陈宏打造，其个人魅力不可小觑；而易凯资本完全由王冉通过写博客的方式，扎根新媒体新娱乐领域。

Do you know, i need you to come back

你知道吗，我需要你回来

Yang yinshu、Wang xiangsheng、Li decang,The first discovery of haemaphysalis conicinna.

1〕 杨银书，王祥生，李德昌。安徽省首次发现嗜群血蜱。