资本基金

Last week, more risk capital fund to do more than quietly over air

上周，更多的风险资本基金，以不超过悄悄地在空气更

Since the first open-end fund issue, there are 5th redemption, which also reveals more profound form of market phenomena causing open-end fund liquidity risk. In 2002, the open-end fund market was just established, in order to expand the size, many funds only attract institutional investors, and do not distinguish between investor by their liquidity preference. Under such single structure, institutional investors large size redemption will cause fund scale reduced significantly, which suffered huge losses. In 2003, as the Funds growth, more and more retail investors join in fund market and occupy a dominant position. Due to the lack of awareness of the fund market, they all use the concept of stock investment.

自开放式基金成立以来，中国历史上的5次赎回也更深刻的揭示了构成开放式基金流动性风险的市场现象。2002年为开放式基金成立初期，很多基金为了吸纳资本，扩大规模，只面向机构投资者融资，并且不区分投资者的流动性偏好，在这种单一的结构下，机构投资者的大额赎回就导致基金规模的锐减，从而遭受巨大损失。2003年，随着基金的发展，越来越多的散户介入其中并占据主导地位，由于缺乏对基金市场的认识，按照原有投资股票的理念投资基金，所以在低迷的股市稍有起色，基金稍有赢利时，就开始赎回，造成了多只基金净值的损失。2005年，保险行业可以直接入市，再加之逐渐回升的行情和基金公司高额的手续费，很多保险公司开始赎回持有的基金转而直接入市。

Procarta is backed by two government-supported venture capital funds: Rainbow Seed Fund, which operates nationwide, and Iceni Seedcorn Fund, which focuses on East Anglia.

Procarta获得了两家政府扶持的风险资本基金的支持：运营范围囊括英国全境的Rainbow Seed Fund和针对东安格利亚地区的Iceni Seedcorn Fund。

U.S. Sequoia Capital Fund service concept in China practice and exploration.

将美国红杉资本基金服务理念在中国进行实践和探索。

This article especially pointed out following, investment fund isn't providedwith spontaneous tendency to stable capital market, but along with expansion of itsscale and on condition of games between fund management companies, it can playobjective role in stabling capital market.

本文特别指出的是，基金在本性上并不具有稳定资本市场的自发倾向，但是随着投资基金规模的扩大，基金在基金管理人之间产生搏弈的时候，却能对资本市场的活动产生稳定的客观作用。

Galli envisions will involve the greater injection of capital from investors including Wall Street and other stock markets around the world as well as venture capital funds.

的一个重要组成部分的范式转变，加利先生设想将涉及更多的注入资本投资者包括华尔街和其他全球股市以及风险资本基金。

Wen Baoma: Now capital fund partner, ceng Renying couplet invests the controller of firm of poineering investment of Shanghai of fund director, Intel, the leader counts the investment of a Chinese project.

温保马：今日资本基金合伙人，曾任英联投资基金董事、英特尔上海创业投资公司的负责人，领导数个中国项目的投资。

This,周忠惠said that under the old criteria, the revenue generated by debt restructuring is to enter the capital fund, and now debt restructuring proceeds go directly to the current profit — the formulation of the provision does not take into account China's particular environment, but also does not take into account China's capital market regulation some of the requirements and regulations.

这一点，周忠惠表示，根据旧的标准，通过债务重组产生的收益是进入资本基金，而现在债务重组收益直接进入目前的利润—该条款的制定不考虑中国的特殊环境，也没有考虑到中国的资本市场监管的要求和规定一些。

Said that under the old criteria, the revenue generated by debt restructuring is to enter the capital fund, and now debt restructuring proceeds go directly to the current profit ── the provision does not take into account the development of the Mainland of China-specific environment and capital markets did not take into account a number of regulatory requirements and regulations.

周忠惠表示，根据旧的标准，通过债务重组产生的收益是进入资本基金，而现在债务重组收益直接进入目前的利润──该条文并没有考虑到发展的中国内地具体的环境和资本市场并没有考虑到的监管要求和规定。

Beijing is providing funding for the country's first home-grown venture capital funds in an attempt to foster a local industry to rival foreign funds operating in China and kickstart a new development zone.

中国正为首批本土风险资本基金提供资金，试图培育一个本土基金行业，与在华运作的外国基金竞争，并创建一个新的开发区。

According to the clear water experiment, aeration performance of the new equipment is good with high total oxygen transfer coefficient and oxygen utilization ratio.

曝气设备的动力效率在叶轮转速为120rpm～150rpm时取得最大值，此时氧利用率和充氧能力也具有较高值。

The environmental stability of that world - including its crushing pressures and icy darkness - means that some of its most famous inhabitants have survived for eons as evolutionary throwbacks, their bodies undergoing little change.

稳定的海底环境─包括能把人压扁的压力和冰冷的黑暗─意谓海底某些最知名的栖居生物已以演化返祖的样态活了万世，形体几无变化。