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武夷山治疗腋臭多少钱飞专家上饶第一人民医院打瘦腿针多少钱

来源:龙马口碑    发布时间:2019年07月17日 03:32:09    编辑:admin         

When it announced new stock listing rules over the weekend, the Chinese securities regulator was trying to end a decade of underachievement.当中国的券监管机构在周末期间公布新股发行新规时,它试图终结中国股市过去十年中表现不佳的局面。The best economic growth story of the 21st century has been a poor investment play. While its gross domestic product has shot up, China#39;s equity market has languished.21世纪最强的经济增长神话没能造就一次绝佳的投资良机。尽管中国的国内生产总值(GDP)迅速增长,但中国股票市场的发展却步履维艰。Part of the blame has been an initial public offering system that consistently overprices shares, to the benefit of newly listed companies and their underwriters. Those buying into IPOs on their first day of trading have lost money, and the mass of ordinary investors in China has slowly lost confidence in stocks.之所以会有这样的反差,部分原因在于中国的首次公开发行(IPO)体制。在该体制下时常会出现新股定价过高的状况,从而有利于上市公司以及它们的承销商。而那些在交易首日买入新股的投资者则会出现亏损,如此一来,中国的广大普通投资者也就渐渐对股市失去了信心。More pre-listing disclosures and greater institutional participation in pricing – the reforms detailed on Sunday – should add some stability to China#39;s casino-like markets. Guo Shuqing, the reformist who was appointed securities regulator six months ago, has also tried to limit insider trading.4月28日公布的改革内容包括加大上市前的信息披露力度,并让机构更多地参与定价环节。这些举措应该能为一般的中国股市带来更大的稳定性。6个月前受命出任中国监会(CSRC)主席的改革派人士郭树清还试图抑制内幕交易。But he is fighting a paradox seen throughout emerging markets and typified by China: high gross domestic product growth often goes hand-in-hand with lousy stock returns.然而,他要与这样一个矛盾作斗争:在GDP高速增长的同时,与之相伴的往往却是股市回报率的低迷。这种现象是整个新兴市场的共性,尤以中国的情况最为典型。;Companies raising money, not investors, have done well off the stock market. The vast majority of investors have had no way to profit,; says Ye Tan, a financial commentator.财经员叶檀指出:“在市场上获利的主要是融资者,而不是投资者。绝大部分投资者都无法从市场上获利。”If China#39;s GDP were a security you could buy, it would have delivered strong returns. The value of China#39;s annual output nearly quintupled from 2000 to 2011, which would have made it one of the best investments in the world.如果中国的GDP是一款能够购买的券产品,它将带来丰厚的回报。2000年至2011年期间,中国的年度经济产值增长了近四倍,这会使它成为世界上最超值的投资产品之一。But GDP is not a security. The Shanghai Composite Index, something you can invest in, has a much weaker record. It rose about 46 per cent over the past decade, barely keeping pace with inflation. How can China#39;s growth have been so fast and its stocks so sluggish?但GDP不是一种券。上综指(Shanghai Composite Index),一种名副其实的投资品,它的表现就要逊色许多。该指数在过去十年间上涨约46%,勉强与通胀水平同步。中国的经济增长如此之快而股市表现却如此乏力,这种状况究竟是如何造成的?The first thing to note is that China is far from an aberration. GDP is crucial to understanding economic performance, but it has proven a bad predictor of equity returns. As Jay Ritter of the University of Florida and other economists have documented, there is no stable relationship between GDP and stock performance.首先要指出,中国并没有偏离正常的轨道。GDP对于理解经济表现有着至关重要的意义,但对股市回报率而言,GDP的预测作用就要大打折扣了。正如佛罗里达大学(University of Florida)的杰伊?里特(Jay Ritter)及其他经济学家所指出的,GDP与股市表现之间并不存在一种稳定的关系。China illustrates two key reasons why fast-growing countries often disappoint investors.至于快速增长的经济体为何屡屡让投资者失望,中国给出了两大重要原因。First, there is a simple question of maturity. China#39;s stock market was established only two decades ago, so it would have been extremely surprising if it had behaved like long-established bourses in developed economies. Many of the biggest components of the Shanghai Composite Index, including the top banks, listed after 2005.第一个原因很简单——股市不够成熟。中国股市创建至今仅有20年时间,假若中国股市的表现和发达经济体中那些历史悠久的股市表现一样,人们反倒会倍感意外。上综指成分股中,有许多权重股(包括几家大型)均是在2005年之后才上市。Moreover, there has been a steady dilution of existing investors as China has reformed state-owned companies by gradually ;unlocking; their shares for trading. The portion of tradable shares in China has risen from about 30 per cent of listed companies a decade ago to 70 per cent.另外,中国采取原始股逐步“解禁”的方式推进国企改革,导致现有投资者股权不断被稀释。中国流通股占股市总股本的比重已从10年前的约30%增至70%。;The objective in establishing the stock market was to give state-owned companies a way to escape their difficulties. It was only after the late 1990s that thought was given to protecting investors#39; interests, and this transformation is not yet complete,; says Zhao Xijun, a professor at People#39;s University.中国人民大学(People#39;s University)教授赵锡军表示:“(最早)建立股市是为了给国有企业脱困务。上世纪90年代后期才提出来要保护投资者的利益(等理念)。这些理念的改革现在还没有到位。”The second factor, as in other developing countries, is the market#39;s legal and political backdrop. This is much harder to change. The corrosive influence of insider trading was highlighted in a 2002 study of China#39;s stock market by Dow Jones Indexes. It showed that the vast bulk of the gains over the previous decade had occurred on 10 specific trading days when stocks jumped.第二个原因(如在其他发展中国家一样)是市场的法律和政治背景。改变这个因素的难度要大得多。从道琼斯指数(Dow Jones Indexes)2002年一项对中国股市的研究中可以明显看出,内幕交易会腐蚀市场。该研究显示,之前10年中大部分获利是在股价上涨的10个特定交易日内发生的。The inference was that only investors who possessed critical information – often linked to state policy announcements – were able to make money. Everyone else was just along for the ride. Although China has taken steps to clean up its markets since then, insider trading remains pervasive. Mr Guo has launched yet another crackdown.由此可以推出,只有获知关键信息(通常与政府即将宣布的某项政策有关)的投资者能够获利。其他所有人都只是在碰运气。尽管自那以后中国已采取措施清理市场,但内幕交易仍十分普遍。郭树清已发起一轮新的治市活动。Investors are by now familiar with the immaturity and the insider trading in the Chinese market. After the disappointing performance of the past decade, it is clear that negatives are more fully priced in. The ratio of Chinese share prices to last year#39;s earnings is near a historic low at 14.7, about the same as in the US.投资者如今已对中国股市的不成熟和内幕交易习以为常了。经过过去十年差强人意的表现,如今的股市显然已更多地体现了各种负面因素。中国股市市盈率(按去年利润计算)现为14.7,已接近历史最低点,约与美国的水平一致。As Mr Guo continues his reform drive – bringing more institutional money into the market, adjusting the IPO pricing system, implementing easier delisting rules and more – the maturation of the Chinese stock market could be argued to be accelerating.在郭树清继续推进股市改革之际,中国股市趋于成熟的速度可以说在加快。郭树清的改革措施包括:向股市引入更多机构资金,调整IPO的定价体制,改变规则、降低上市公司退市的难度,等等。Geoff Lewis, head of investment services with JPMorgan Asset Management in Hong Kong, says Chinese shares are approaching a point where they can be assessed like those in other markets.驻香港的根大通资产管理(JPMorgan Asset Management)投资务负责人杰夫?刘易斯(Geoff Lewis)表示,中国股市的可评估程度正在趋近于其他股市。;Your view on China should be whether you think it will be a soft landing or a hard landing. I don#39;t think it should be related to structural overhangs or market imperfections,; he says. If economic performance does start determining investment performance, it would indeed be a new departure for Chinese stocks.刘易斯表示:“你对中国的看法应该取决于你认为中国经济会软着陆还是会硬着陆。我认为结构性威胁或市场失灵的因素不应影响你对中国的看法。”如果经济的表现真的开始决定投资业绩,中国股市将真正展开一段新的旅程。Additional reporting by Emma Dong董慧(Emma Dong)补充报道 译者:何黎 /201205/180430。

Seek Ltd. is spending US5 million to raise its stake in Zhaopin Ltd., in the latest step toward an initial public offering of the Chinese employment website.Seek Ltd.即将斥资1.05亿美元增持中国招聘网站智联招聘(Zhaopin Ltd.),这是该公司为实现智联招聘首次公开募股(IPO)迈出的最新一步。The ASX-listed online job advertiser said in a stock exchange filing Friday that it’s buying shares from Macquarie Group Ltd. MQG.AU -0.85% and other investors in order to raise its stake in Zhaopin from 55.5% to 72.3%.同为招聘网站的Seek是澳大利亚交易所(ASX)上市公司。该公司在周五提交给交易所的备案材料里说,它将从麦格理集团(Macquarie Group Ltd.)和其他投资者手中购买股份,将自己在智联招聘的持股比例从55.5%提高到72.3%。Of that, million will be funded from Zhaopin’s cash balance, while the rest will come from Seek’s cash and debt facilities. At the end of last year, the Chinese online market place operator had around 2 million in cash, Seek said.用于增持的资金当中,将有5,500万美元来自智联招聘的现金余额,其余来自Seek的现金和债务融资。Seek说,去年年底智联招聘拥有约1.22亿美元的现金。Moreover, Seek plans to raise its controlling interest further to 79% by buying more shares from other investors, and possibly take that even higher next year.另外,Seek还打算从其他投资者手中购买更多股份,从而将持股比例进一步提升至79%,明年甚至还有可能将持股比例提至更高。The deal is an important step for Seek to make good on its long-standing aim to take Zhaopin public a move that has been delayed as the Chinese company expands into new cities and markets.这次增持是Seek为实现很久以来让智联招聘上市的目标而迈出的重要一步。上市计划在智联招聘向新城市和新市场扩张的过程中被推迟。“The simplification of Zhaopin’s capital structure will assist in its potential progression to an IPO,” Seek Managing Director Jason Lenga said in a statement. “As China’s urbanization and internet penetration increases, we expect it will be the world’s largest online employment marketplace.”Seek的董事总经理伦加(Jason Lenga)发表声明说,简化智联招聘资本结构将有助于智联招聘向IPO的方向前进。他说,随着中国城镇化和互联网渗透率的上升,我们预计它将成为世界上最大的网络招聘市常The deal implies Zhaopin has an enterprise value of around US8 million 16 times the company’s earnings before interest, taxes, depreciation and amortization compared to the US0 million to US0 million that Morgan Stanley MS +3.67% analyst Andrew McLeod estimated it was worth in March.这次增持将智联招聘的企业价值评估为5.58亿美元左右,是该公司息税折旧及摊销前利润(EBITDA)的16倍。据根士丹利(Morgan Stanley)分析师麦克劳德(Andrew McLeod)在2012年3月份的估计,智联招聘的企业价值在7亿美元到9亿美元之间。Investors welcomed the news, sending Seek shares up 2.8% to an eight-month high of A.48.增持消息受到投资者的欢迎,Seek股价上涨2.8%至7.48澳元,达到八个月最高。Seek’s latest move comes as it expands its global footprint by raising stakes in other international businesses. Last month, the company announced it would buy the remaining shares in JobsDB, following similar moves in Mexico and Brazil earlier in the year.在迈出最近这一步的同时,Seek也在通过增持其他国际企业扩大全球足迹。该公司上个月宣布将收购JobsDB剩余股份,今年早些时候也在墨西哥和巴西采取了类似措施。Morgan Stanley reckons total online revenue for the industry will reach US.6 billion by 2015, at which time Zhaopin will have an estimated 42% share of the market, up from 24% in 2012.根士丹利估计,到2015年,中国招聘行业线上收入总额将达到36亿美元,届时智联招聘的市场份额估计将从2012年的24%增至42%。 /201302/224977。

To kittens and puppies, now add the latest species for couch potatoes to gush over: giant pandas. 除了小猫小,现在又有一个新物种可以让沙发土豆们倾泻绵绵爱意:大熊猫。 Chinaㄙs Chengdu Research Base of Giant Panda Breeding has launched a free 24-hour live Internet broadcast of the cuddly critters, state-run Xinhua news agency said Monday. 中国国有通讯社新华社周一报道说,中国成都大熊猫繁育研究基地推出了一个免费节目,通过网络24小时直播这些惹人喜爱的动物。 Viewers can watch the pandas at the base in southwestern Sichuan province, part of their native domicile, via 28 cameras planted in five areas that will feed six channels: garden for adult pandas,#39; #39;kindergarten,#39; #39;nursery for twins,#39; #39;mother-and-child playground,#39; #39;No.1 Villa#39; and #39;featured.#39; 通过在五个区域放置的28个摄像头,观众们可以看到中国西南四川省大熊猫基地里的熊猫们,这里是它们的老家。直播分为六个频道:“成年园”、“幼年园”、“幼儿园”、“母子园”、“1号别墅”以及“精选高清”。 In keeping with the bears#39; famously laid-back characteristics, the broadcasts have an addictively soporific feel to them, based on China Real Time Report#39;s viewing of several clips the base posted as sneak peeks. 大熊猫的性格是出了名的懒散,根据“中国实时报”栏目记者看到的试播片断,播出的内容也符合这种特点,有一种令人欲罢不能、昏昏欲睡的感觉 In one clip, two giant pandas sprawled motionless amid quivering leaves and small skittish birds on an elevated loft. About two minutes later, the angle shifted to a second camera, with the two pandas now seeking refuge from what appeared to be fairly tepid sunlight. In short order, another giant panda lay prone by a burbling stream, in the thrall of what appeared to be another pleasant nap. 其中一个视频片断中,一处高台上的两只大熊猫一动不动地躺着,只有树叶微微颤动,还有一些活泼的小鸟。大约两分钟后,视角转为另一台摄像头,出现的画面是两只大熊猫找地方遮阴,躲避看上去并不强烈的阳光。没过一会儿,另一只大熊猫趴在潺潺的溪流边上,明显又沉浸在愉快的小睡中了。 The Chengdu base is home to more than 80 freely roaming giant pandas, so it#39;s unclear whether the subjects are different bears or the same few viewed from various angles. 成都基地有80多只放养的大熊猫,因此不清楚视频中出现的是不同的熊猫,还是同样的几只出现在不同角度下。 A few minutes later, the panda by the stream changed his snoozing posture slightly. It#39;s a small maneuver, but rendered suddenly dramatic by the enervating lull of the feed and the sheer celebrity of the monochromatic bear. So it comes as no surprise that the clips have aly attracted nearly 15,000 viewers since their launch on June 24, Xinhua said. 几分钟后,小溪边那只熊猫稍微改变了一下打盹的姿势。这只是个小小的动作,但却突然显得激动人心,这完全是由于视频本身让人昏昏欲睡,再加上这种黑白两色的动物本身的名气。新华社报道说,这些视频自6月24日发布以来已经吸引了近1.5万人观看,这也就不足为奇了。 #39;I#39;ve watched an entire morning of pandas eating bamboo, my appetite has improved!#39; a blogger called Janice Yi wrote on China#39;s Twitter-like microblogging service Sina Weibo. #39;They eat, then they fight, and when they#39;re tired of fighting, they eat again, then they sleep, and a whole day passes.#39; 在中国类似推特(Twitter)的新浪微(Sina Weibo)上,一位名为“Janice憶”的用户写道,我居然看了一上午熊猫吃竹子,胃口忒好了吧!!吃饱了就打架,打累了继续吃,吃累了就睡,无限循环,然后一天就过去了。 But not everyone was impressed. 但也并非所有人都被打动。 #39;All I see is a fatty sleeping with his belly going up and down,#39; said a blogger called Rabbits. 微用户“-兔兔兔兔兔-”说,就看见一个死胖子肚子一忽一忽的睡觉。 For the country that is home to the giant pandas, China is a late mover in setting up a live feed, though it is stepping in where others have quit. Last October, Thailand pulled its zoo-based panda show after nearly three years, while Hong Kongㄙs Panda Channel says on its website that its bear broadcast from the Ocean Park theme park will cease this weekend. 作为大熊猫的故乡,中国在创建直播方面可谓后发制人,但它进入的是其他国家已经退出的领域。去年10月,泰国取消了播出近三年的动物园大熊猫节目,香港的“熊猫台”(Panda Channel)也在其网站上说,海洋公园的大熊猫节目将于本周末停播。 In the U.S., panda cams can be found at several zoos, including San Diego, Atlanta, Memphis and the recently upgraded feed at the National Zoo in Washington, D.C. 在美国,一些动物园有拍摄大熊猫活动的摄像头,包括圣地亚哥、亚特兰大、孟菲斯,还有华盛顿的国家动物园最近刚刚升级的熊猫馆。 /201308/250518。

Bill Gates is still a big name for young entrepreneurs. But young go-getters have found new icons among people their own age.对于年轻的企业家来说,比尔#8226;盖茨仍然是一位了不起的大人物。但这些有能力且好进取的年轻人已经找到了属于他们这个时代的新偶像。Millionaires under 30 years old are grabbing the spotlight. Their success proves that being creative and fearless may be more important than experience when it comes to starting your own business.30岁以下的百万富翁们正逐渐成为人们关注的焦点。他们的成功明了一件事,那就是当你自己开始创业时,创造力与大无畏精神远比经验更为重要。Some of these young tycoons made fast and bold moves while others applied themselves slowly and steadily. Both ways lead to Rome. Here are two young business icons who represent different start-up styles.有的人一心追求慢节奏与安稳,而一些年轻的商业巨子则选择快速大胆地向前挺近。正所谓条条大路通罗马,两种方式都会成功。下面我们就来聊聊两位年轻的商业偶像,他们代表两种不同的创业类型。Mark Zuckerburg, 27, creator of Facebook马克. 扎克伯格,27岁,Facebook的创始人。Last year, Zuckerburg was named Time magazine’s Person of the Year. His personal wealth was estimated to be .5 billion (87 billion yuan).去年,扎克伯格被命名为《时代》周刊的年度风云人物。据估计他的个人财富达到135亿美元(约合870亿人民币)。Be far-seeing. That’s the magic that can make a “small” idea evolve to be a “revolutionary” one.要有远见。这是让“小”点子演变成具有“革命性”创意的魔法所在。In the movie The Social Network, Zuckerburg created a website which became Facebook to meet girls. But in reality, Zuckerburg did it for a bigger mission.在电影《社交网络》中,扎克伯格创办了一家网站,目的是为了泡妞;后来这个网站变成了现在的Facebook。但在现实生活中,扎克伯格却有着更大的目标。When he was a student at Harvard University, Zuckerburg spent a lot of time discussing with his friends how the world was going to change over the next “five, 10, or 20, years”.当在哈佛大学读书时,扎克伯格就利用很多时间来和朋友们讨论接下来的5年,10年或20年内,世界将会发生怎样的变化。They were looking ahead and were able to foresee a trend.他们一直展望未来,所以能够预见未来发展趋势。That’s how they predicted the coming of an age when people would be open to share information and socialize online.就是这样,他们预测到一个人们愿意去分享信息并进行网络社交的新时代的到来。Move fast and break things. Be bold in making decisions.快速行动,敢于突破。大胆做决定。“Unless you are breaking some stuff you are not moving fast enough,” Zuckerburg explained the core value of Facebook to businessinsider.com.“如果不去打破一些东西,你就不能够十分快速地前进”扎克伯格在向科技客网站businessinsider解释Facebook的核心价值时表示。He pointed it out that entrepreneurs need to learn that making mistakes is OK.他还指出,创业者需懂得犯错是难免的,没什么大不了。Launch projects quickly, get feedback quickly and make *trade-offs and improvement quickly.迅速启动项目,立即得到反馈,快速做出权衡和改进。Zuckerburg said that entrepreneurs should break rules. Forget the conventional way of doing things, even if it’s considered “best practice”.扎克伯格认为创业者们应该打破惯例,摒弃被认为是“最佳实践”的传统做事方式。He told businessinsider.com: “You never build something great by doing it the same way that other people have done it.”他告诉businessinsider.com:“如果你选择同别人一样的方法去做事,那么你永远成不了大事。” /201108/147335。

U.S. investigators say a suspect in Mississippi has been arrested in connection with a poisoned letter sent to U.S. President Barack Obama.美国调查人员说,在密西西比州逮捕了一名与寄给奥巴马总统带毒信件事件有关的嫌疑人。The FBI said suspect Paul Kevin Curtis was arrested Wednesday in Corinth, Mississippi. Investigators did not provide further details.美国联邦调查局说,嫌疑人柯蒂斯星期三在密西西比州的科林斯被逮捕。调查人员没有透露更多细节。However, an FBI intelligence bulletin seen by reporters said the suspect April 8 letter to Mr. Obama and a second one addressed to U.S. Senator Roger Wicker were postmarked in Memphis, Tennessee and contained some identical wording.但记者看到的一份联邦调查局情报简报说,4月8号寄给奥巴马的带毒信件和寄给韦克尔参议员的带毒信件上的邮戳显示寄出地点是田纳西州的孟菲斯,而两封信件中的某些措辞完全一样。Both letters preliminarily tested positive for ricin, a highly poisonous chemical compound that is deadly in amounts as small as a grain of salt.这两封信件都初步检测出带有蓖麻油毒素,这是一种毒性极强的有毒化学制剂,极少量即可致命。Investigators said both letters were intercepted at mail screening facilities away from the White House and Senate offices and consequently did not place either the president or the senator in immediate danger. 调查人员说,这两封信件分别被白宫和参议院的信件检查机构截获,因此没有对奥巴马总统和韦克尔参议员构成威胁。 /201304/235835。