金融市场

It is becoming increasingly clear that Germany's banks are among the worst affected by the global financial crisis—not because of domestic developments, but because of the huge income flows that accrued to the country from its export boom being invested in a range of most US-originated financial instruments whose value has collapsed and which are now illiquid.

人们越来越清楚地看到，德国银行处于遭受全球金融危机最严重影响之列。这并不是由于国内发展，而是得过一段时间以来靠快速增长的出口所带来的庞大现金收入流投资于一系列大部分已经贬值，目前并没有市场流动性的美国金融衍生品。

Supervision authorities have constantly issued the financial policy, which has weakened the lean of enterprise to bank credit, leaded the development of the affiance, real estate funds and other innovative financial instruments on the objective; The upgrade and polarization of real estate decided its brand-new trend of financial market.

监管当局不断出台的金融紧缩政策削弱了企业对银行信贷的依赖，在客观上带动了信托、地产基金等金融创新工具的发展；而产业自身升级与分化则决定了未来房地产融资市场的崭新格局。

A market economy with moderate control on finance would encourage financial innovation, and the interrelation between financial control degree and financial innovation creative takes a shape of concave curve.

而完全垄断市场最不利于金融创新活动开展的结论。 3、结合国情对我国现阶段商业银行金融创新风险的特殊性进行了论述。

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。

It can be said that, as a financial innovation, Countervail Debt by Shares has the various practical significance regarding our country capital market development, but according to the operating on the reality, this kind of financial innovation tool still exists many discussion and the question urgently.

可以说，作为一项金融创新，"以股抵债"对于我国资本市场的发展具有多方面的现实意义，但是从我国目前资本市场上"以股抵债"这种金融创新工具的实际运作来看，上市公司的"以股抵债"仍存在着诸多亟需探讨和解决的问题。

Proposes are divided into three altogether. First is system innovation, putting forward the concrete method of construction equilibrium information in our country. It is to decontrol the price of interest rate for dispelling the finance depressing, to reform property right for the division of politics and enterprises, to set up credit system for reduce the trade expenses, to perfect management of loan for evading financial risks, etc. Second is mechanism reform. It adds to mix mechanism of plan and market is inevitable choice of China.

途径分析分成三块，第一块以体制创新为主要内容，提出在我国房地产信贷资金配置中构建相对均衡信息条件的具体办法：放开利率价格、消除金融压抑，推行产权改革、实现政企分开，建立信用制度、降低交易费用，完善信贷管理、规避金融风险等；第二块是以机制改革为主要内容，提出计划加市场的混合机制是我国房地产信贷资金配置机制的必然选择。

There is a rapid development in Shipping Finance. For the purpose of reducing risk or seeking high profit, more and more financial derivate tools have been introduced to shipping market.

航运金融在近几年发展迅速，出于降低风险或寻求高额风险利润的目的，越来越多的金融衍生工具被引入到航运市场中来。

"Disintermediation: Shift of funds away from financial intermediaries(commercial banks, etc.) into Treasury bills and other securities or, Shift by large corporations away from banks to a parallel market, involving other large corporations ."

金融中介作用减弱：把资金从金融中介机构转移到国库券和其他证券方面去；或一些大公司把资金从银行转移到和其他一些大公司有关的平行市场上去。

Even as Western financial firms have fallen into disrepute, banks in emerging markets are treated as paragons of probity.

甚至，拒绝西方金融机构的同时，新兴市场的金融机构被奉为诚实的典范。

In order to expose more exactly of the market risk faced by financing institutions, and manage risk more deeply and completely, This article expands research in the following aspects: multivariate abnormal distribution family, the measurement of correlation function in the portfolio selection and Copula function.

为了能更准确地反映金融机构面临的市场风险，进行深层次的、全面的管理金融风险，本文最后从以下几方面展开了风险价值度量方法的研究：多元非正态分布族，投资组合中相关性度量方法及Copula函数。

This one mode pays close attention to network credence foundation of the businessman very much.

这一模式非常关注商人的网络信用基础。

Cell morphology of bacterial ghost of Pasteurella multocida was observed by scanning electron microscopy and inactivation ratio was estimated by CFU analysi.

扫描电镜观察多杀性巴氏杆菌细菌幽灵和菌落形成单位评价遗传灭活率。