在市场上交易

Then positively ana.lyzed transmission effect of monetary policy of China in recent years, and with relative theories, discussed rr~ore deeply the existing principal problems on transmission mechanisms of monetary policy in our state under the realistic institutional situation of economy and finance:(1)Monetary policy tools lag behind the economic and financil background;(2)Separated and uneven money markets, the lack of transaction agents and defect in the relation between money markets and c~potal markets, have rendered the transaction of monetary policy lack on effective channel;(3)over-speculating, illegal operation and insufficient competition have severely weakened the transmission fumction;(4) systematic defect of state -owned commercial bank, asymmetry between financial and economic composition have made monetary policy lose an effective carrier;(5) factors beyond the financial system, such as soft cornstraint over state - owned enterprises policy decision, imperfect social insurance system, etc.

接下来对我国近年来的货币政策传导效果进行了实证分析，在此基础上运用相关传导机制理论并结合我国实际经济、金融制度与环境论述了我国当前货币政策传导机制的主要问题：（1）货币政策工具相对于经济、金融环境显得落后；（2）货币市场的分割、不平衡、交易主体不全以及货币市场与资本市场的联系机制缺位使得货币政策缺乏一个有效的场所；（3）资本市场特别是股票市场的过渡投机、违规操作以及不充分竞争严重地削弱了证券市场的传导功能；（4）国有商业银行现行体制的缺陷，金融结构与经济结构的非对称使得货币政策传导受阻；(5)金融体系外的因素（如国企决策行为软约束、社会保障制度不健全）。

Then positively ana.lyzed transmission effect of monetary policy of China in recent years, and with relative theories, discussed rr~ore deeply the existing principal problems on transmission mechanisms of monetary policy in our state under the realistic institutional situation of economy and finance:(1)Monetary policy tools lag behind the economic and financil background;(2)Separated and uneven money markets, the lack of transaction agents and defect in the relation between money markets and c~potal markets, have rendered the transaction of monetary policy lack on effective channel;(3)over-speculating, illegal operation and insufficient competition have severely weakened the transmission fumction;(4) systematic defect of state -owned commercial bank, asymme try between financial and economic composition have made monetary policy lose an effective carrier;(5) factors beyond the financial system, such as soft cornstraint over state - owned enterprises' policy decision, imperfect social insurance system, etc.

接下来对我国近年来的货币政策传导效果进行了实证分析，在此基础上运用相关传导机制理论并结合我国实际经济、金融制度与环境论述了我国当前货币政策传导机制的主要问题：（1）货币政策工具相对于经济、金融环境显得落后；（2）货币市场的分割、不平衡、交易主体不全以及货币市场与资本市场的联系机制缺位使得货币政策缺乏一个有效的场所；（3）资本市场特别是股票市场的过渡投机、违规操作以及不充分竞争严重地削弱了证券市场的传导功能；（4）国有商业银行现行体制的缺陷，金融结构与经济结构的非对称使得货币政策传导受阻；(5)金融体系外的因素（如国企决策行为软约束、社会保障制度不健全）。

Trade mode partrecites the operation model power transmission market and detailedly discusses theprice system of power transmission market; on the basis of electrovalence system ofpower transmission, it calculates and analyses province-stridden power transmissionexpenses combining the actualities of countrywide provincial trade and the actualcircumstances of provincial power transmission of middle-Chinese power grid; itrelates to the mode of big power consumers directly purchasing electricity andfinance instrument of power transmission market.

交易模式部分中叙述了输电市场的运营模式，对输电市场的价格体系做了详实的论述和相应的探讨；在输电电价体系的基础上，结合全国省间交易的现状和华中电网跨省输电的实际，对跨省输电费用进行了相关的测算和分析；涉及了大用户直购电模式和输电市场的金融工具。

ChapterⅤ. It expounds the meaning and characteristics of manipulating market, compares it with misrepresentation, insider trading, defrauding investors, legal stockjobbing and stabilization manipulation, analyzes the subjects of manipulating market, its subjective and objective conditions and manners of action and discusses the subjects of civil liabilities of manipulating market and the amount of compensation for loss.

第五章，在阐释操纵市场的概念和特征的基础上，对其与虚假陈述、内幕交易、欺诈客户、合法的投机行为以及安定操作相关概念进行了比较，分析了操纵市场的行为主体、主观要件和客观要件，并详尽阐释了操纵市场的行为方式，最后对操纵市场民事责任主体的认定和损害赔偿进行探讨。

Pay treasure respect introduction, in the network retail market, those who sell the home is many hand in easy information and credit record to be in to pay platform by the record on treasure. At the beginning of 2008, pay treasure to build a bank jointly on formal Xiang Taobao sold the home to roll out credit to serve, with the sincere letter of platform of electronic business affairs the system is a foundation, pay treasure to trade for impawn, sell the home to be able to apply for the smallest 50 yuan, highest 50 thousand yuan small credit.

支付宝方面介绍，在网络零售市场，卖家的大量交易信息及信用记录都被记录在支付平台支付宝上。2008年初，支付宝联合建设银行正式向淘宝上的卖家推出了信贷服务，以电子商务平台的诚信体系为基础，支付宝交易为质押，卖家可以申请最小50元，最高5万元的小额信贷。

The strategic alliance strategy is by nature results of changinginterfirm arrangements, which is neither different from arm's length arrangements and nor from hierarchical arrangementswithin the firm, and unsubstituted product with inside hierarchy and outside property rights transaction.

合资战略本质上是企业组织内部化战略的结果，即在组织形式上趋向于母子公司之间关系，价值创造呈降低成本导向机理；战略联盟本质上是企业间关系变化的结果，这种企业间关系以协调为特征，既不同于市场交易关系，也不同于组织内部的层级关系，是内部层级市场和外部产权交换不可替代的产物，价值创造呈潜在的利润导向机理。

The article trades in the light of our country market of the party in the process trade behavior, analysed from game theory angle be as good as one's word chooses in different system environment servents or breaking his promise is build go up in respective rational basis.

本文针对我国市场交易过程中当事人的交易行为，从博弈论角度分析了在不同的制度环境下人们选择守信或失信都是建立在各自的理性基础上。

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。

This article tries to include transaction costs in pricing method and replication strategy of the most popular interest rate derivatives in market, Cap and Floor. The research is under Miltersen, Sandmann, and Sondermann (1997) framework.

本篇论文则试著将交易成本的问题导入利率选择权市场，在Miltersen， Sandmann， and Sondermann (1997)等人提出的市场模型架构下，探讨交易成本对利率上、下限选择权的评价与复制策略。

Last year nearly $3 trillion in grain futures was traded on the Chicago Board of Trade, the world's largest such market.

仅去年就有3万亿美元的谷物期货在世界上最大农产品期货市场，芝加哥交易所交易。

Since historical times,England ,where the early inhabitants were Celts, has been conquered three times .

从有历史以来，英国，在此地早期居住的是凯尔特人，已经被征服了三次。

Bluetooth OBEX File Transfer Enables the sending and receiving of files on your phone via Bluetooth.

蓝牙OBEX文件移动允许经过蓝牙传送和接受文件。。。。