资本基金

Set up a special small to absorb the non-closed funds, a positive infusion of new capital market, is to change the Chinese capital market investors expected one of the keys

成立了一个特别小，吸纳非封闭式基金，新的资本市场产生积极的注入，是要改变中国资本市场预期的关键因素之一投资者

Self Descriotion: Specialize on the legal services in corporate and securities, and financial investments; legal services in capital market, property rights regime and reform, definition and trading of property rights, industry convergence and reform of state management system, etc; legal services on capital operations projects, like joint-stock system reform, issuing and listing of securities (including A shares, B shares, H shares, rationed shares, newly issued shares, convertible loan shares, debenture and fund), and finance; specialized legal services in law-based administration of government departments, foreign investments, corporate acquisitions and reorganizations and insolvency liquidation, etc; legal services in overall planning of large projects and design of significant procedure, and negotiations on projects of overseas financing and investments, etc.

或评价：本人擅长公司与证券、金融投资领域的法律服务项目；资本市场、产权制度与产权改革、产权界定与交易、产业整合、国有资产管理体制改革等领域的法律服务项目；企业股份制改造、证券发行上市（A股、B股、H股、配股、增发新股、可转债、公司债、基金）、金融等资本运作项目；政府机关依法行政、外商投资、企业并购重组、破产清算等领域的专项法律业务；大型项目的整体方案策划与重大流程设计、对外投融资项目谈判等法律服务。

Equity have on domestic capital formation and the development of domestic capital markets?

中国的私募股权基金对于国内资本设立和国内资本市场的发展有什么影响？

What impact will Chinese private equity have on domestic capital formation and the development of domestic capital markets?

中国的私募股权基金对于国内资本的孕育和国内资本市场的发展有什么影响？

Fu Cheng: Specific project has a bit not quite convenient say, I say a domain, since holding water from classics abb China, we probably a fund that 8 the beginning of the year establish, this fund special place, the Chinese larch sth used to one's own advantage that compares country, IDG wants new, what new weakness plunges into namely is not quite deep, the project that join is not quite much, famous degree not quite much also, even the person that some doing poineering work sees my calling card says classics abb China makes a map , but still have an advantage, the first, we come from the angle of venture capital investment say, can take very long time with the person that do poineering work, can have time of 10 years probably.

傅盛：具体的项目有一点不太方便说，我就说领域，从经纬中国成立以来，我们大概08年初成立的一只基金，这只基金非常席，比国内的红杉资本、IDG都要新，新的缺点就是扎的不够深，投的项目不够多，知名度也不够多，甚至有的创业者看到我的名片说经纬中国是不是做地图的，但是还有一个优点，第一，我们从风险投资的角度上来说，可以和创业者走非常长的时间，大概会有10年的时间。

Not all of these endeavours have been a success: in the late 1990s, Prof Merton became a partner in the Long Term Capital Management hedge fund, which had $100bn (51bn) in estimated trading positions before imploding in dramatic fashion.

并非所有努力都取得了成功：90年代末，默顿教授成为了对冲基金"长期资本管理"的一个合伙人，这只对冲基金在戏剧性地从内部崩溃之前，拥有的交易头寸估计有1000亿美元。

Phase systems from days to provide data on capital flows can be seen in the rebound period, Guizhou Moutai, Shuanghui development, Wangfujing, Shanxi Fenjiu, Pien Tze Huang重仓varieties, such as fund of funds showing the net outflow pattern of capital flows are more concentrated varieties of machinery, railway transportation, construction, building materials, automotive, aerospace and other small-cap plate, and real estate, medicine, insurance, banking, such as the mainstream of the plate is obviously neglected by the market.

来自天相系统，以提供资金流向的数据可以看出，在反弹期间，贵州茅台，双汇发展，王府井，山西汾酒，片仔癀重仓品种，如显示基金的基金净值流出的资本流动格局的机械比较集中的品种，铁路运输，建筑，建材，汽车，航空和其他小股板块，房地产，医药，保险，银行等板块的主流，显然是被忽视由市场决定。

Not only in agriculture, forestry, animal husbandry and fishery, medicine and other pre-and benefit from the resilience of the industry in general inflation down, the financial and real estate funds fell sharply after重仓股after补跌recently emerged, which means that the market valuation of the new criteria are being re - the establishment of the Fund would need in the new game environment gradually reach consensus in order to allow the market to shake off the pattern of consolidation, re-restore confidence, but the economic fundamentals are not supporting the advent of this trend, the source said, in terms of market confidence, or from the capital side, the growth performance of listed companies, market confidence of view, do not have to do more to provide too many reasons.

不仅在农业，林业，畜牧业，渔业，医药和其他前和受益于该行业在一般的通货膨胀适应能力下降，金融和房地产基金重仓股大幅下跌后，最近出现了补跌，这意味着对正在重新评估市场的新标准-该基金的设立将需要在新的游戏环境，逐步达到共识，以使市场摆脱巩固格局，重新恢复信心，但经济基本面不支持这一趋势的到来，该人士表示，在对市场失去信心，或从资本方而言，上市公司，市场认为信心的增长表现，没有做更多的工作提供太多的理由。

Some disillusionment with venture capital has already begun to set in. In 2006 the giant Calpers California public-employee pension fund started selling off $2.1 billion in private equity holdings, including VC investments.

有些失望的风险资本已经开始设置英寸的巨人在2006年加州公务员退休基金加州公共雇员退休基金开始抛售21亿美元的私人股本集团，其中包括VC投资。

It is reported, in fund of division Pearl River head period register capital to be controlled 200 million yuan, among them Fosan municipal government and government of buddhist the city zone in all contributive 4 million yuan, as governmental guiding with this capital supports fund to be run in the investment of Fosan city, offer support of high grade project and taxation policy to give aid to.

据悉，中科珠江基金首期注册资本2亿元左右，其中佛山市政府和禅城区政府共出资400万元，以此作为政府引导资金支持基金在佛山市的投资运作，提供优质项目支持和税收政策扶持。

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。