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China has toppled the United States from its decadeslong position as the world’s largest auto market for the second consecutive year. New yuan-denominated loans, totaling 7.95 trillion yuan ($1.2 trillion) in 2010, indicate mounting inflationary pressures. China’s foreign trade recoups strength, with both imports and exports hitting record highs in December 2010. Chinese steelmakers reel from skyrocketing iron ore prices. The Purchasing Managers Index for the non-manufacturing sector rebounds as the service sector picks up steam.     

MARKET WATCH

Auto Boom China's auto market continues to thrive,though the sales boom is losing some shine.     

MARKET WATCH

<正>Dividend Regulation The China Securities Regulatory Commission (CSRC), on November 9 issued a circular, requiring listed companies to distribute more cash dividends to shareholders in an effort to protect investors’ interests.     

我国证券法对选择性信息披露问题的立法研究--以美国证券立法为视角

新修订的《证券法》设专章规定了信息披露问题,强调应充分披露投资者作出价值判断和投资决策所必需的公司信息,但并未对上市公司违反选择性信息披露的行为做出明确规定,无法从根本上抑制不公平的公司信息披露行为。为此,应当通过制定《证券法实施细则》对此加以明确和规范。分析美国证券法上对选择性信息披露的规制,并以此为借鉴对我国在《证券法实施细则》中明确选择性信息披露模式提出建设性设想。     

What Are the Real Problems of China＇s Economic Growth？

正CHINA is the world’s second-largest economy,and how its economic growth progresses will inevitably influence that globally.The outside world has followed closely the sustainability of China’s economic growth.Such interest was the basis for the BBC documentary How China Fooled the World.The documentary is centered around China’s economic growth having been driven by vast amounts of credit from the banking sector over the past few     

Wary of America's Overhaul

U.S.President Barack Obama signed a new financial regulatory bill,supposedly the most comprehensive overhaul on Wall Street since the Great Depression in the 1930s,into law in July.Zuo Xiaolei,chief economist at the Beijing-based Galaxy Securities Co.Ltd.,contends that the new law could have adverse impact on emerging economies.She shared her views with Shanghai Securities News.Edited excerpts follow:     

作为公众投资工具的投资合同之法律适用研究

本文主要研究虽然名称上不是股票或企业债券,但实质上以给予回报而募集公众资金的投资合同是否应该由证券法监管,或者说是否构成证券法下的证券。为此,在考察美国证券法(制定法)和普通法(判例法)的基础上,总结出投资合同构成证券法下的证券之要件,并据此分析了目前社会上较有影响的造林投资合同,得出该类投资合同构成证券,应该由证券法对其加以调整的结论。     

中国证券投资者保护基金制度之完善——以关国SIPC为例

在金融危机背景下，证券市场中小投资者的利益倍受关注。该文以美国为例，介绍了旨在保护中小投资者利益的证券投资者保护基金的产生和主要内容，评析了中国证券投资者保护基金存在的问题，并就完善中国证券投资者保护基金制度提出建议。     

From Passive Actor to Active Leader

The closing ceremony of the Fourth China International Import Expo (CIIE) took place in Shanghai on November 10. As the world's first dedicated import exhibition at the national level, the CIIE serves as an important platform for international purchasing, investment promotion, cultural exchanges and cooperation. The Fourth CIIE coincided with the 20th anniversary of China's accession to the World Trade Organization (WTO). The past two decades have seen China's economic aggregate jump from about 10 trillion yuan ($1.54 trillion) in 2001, to more than 100 trillion yuan ($15.4 trillion) in 2020, while its total foreign trade leapt to $4.6 trillion from $500 billion during the same period.     

当前我国证券犯罪的原因剖析

证券犯罪是随着证券市场的发展而必然出现的现象。中国证券市场十多年来的发展取得了巨大的成就。但同时也存在不少问题,证券欺诈、内幕交易、操纵股市等证券违法犯罪现象也时有发生。这些行为既侵害了证券市场正常的管理秩序,又可能侵害广大投资者的合法权益。笔者结合我国证券犯罪的现状,剖析了其形成的原因,以期有针对性地完善我国证券法律制度。     

B3W: America's 'Make The World Great Again' Fantasy

正The recent Group of Seven(G7) leaders' meeting in the UK announced support for a new U.S.-led effort called Build Back Better World(B3W), a global infrastructure plan to challenge China's Belt and Road Initiative. While details remain vague and support within the G7 tepid at best, this announcement has caused a big splash in global discussions, particularly its offer "to help narrow the $40+ trillion infrastructure need in the developing world."     

Back to Expansion

China’s economy rebounds despite headwinds triggered by COVID-19 Recovering from the contraction caused by the novel coronavirus disease(COVID-19)epidemic,China’s economy saw a better-than-expected performance in 2020.The GDP expanded 2.3 percent year on year to101.59 trillion yuan($15.6 trillion),exceeding the100-trillion-yuan($15.42 trillion)mark for the first time.The per-capita GDP exceeded$10,000for two consecutive years,narrowing the gap with high-income countries,data from the National Bureau of Statistics(NBS)showed.     

高校贫困生成因与援助方式选择

在高等教育大众化的进程中 ,关注弱势群体接受高等教育的权利和机会 ,事关高等教育的公平与社会的稳定。分析我国高等学校贫困生问题形成的主要原因 ,并制定相应的援助方式具有重要现实意义。     

MARKET WATCH

The National Bureau of Statistics has released economic data for the first half of 2011. Crisis-stricken foreign trade continues to recover.Investment in fixed assets and retail sales are holding up, becoming the main growth engines of the economy. Mean while, yuan-denominated new loans are decreasing as the country aims to calm inflationary jitters. The once-booming auto markets are slackening off with sales dramatically slowing in the first half of this year.     

A Strong Start

正China's economic performance in Q1 recovered pre-pandemic levels Recovering from the lows caused by COVID-19 last year, China's economy grew 18.3 percent year on year to 24.93 trillion yuan($3.82 trillion) in the first quarter(Q1) of 2021. According to data released by the National Bureau of Statistics(NBS) on April 16,     

CRISIS FOCUS Forex Reserves to The Rescue

When Premier Wen Jiabao told this year's World Economic Forum in Davos that the Chinese Government was explor- ing more efficient ways to use its massive foreign exchange (forex) reserves to boost the domestic economy, he empha- sized that the reserves could only be used overseas. Zuo Xiaolei, Chief Economist of Beijing-based China Galaxy Securities Co. Ltd., recently wrote an article in the Securities Times explaining why the country's forex reserves can only be used overseas and how they can help stimulat...     

MARKET WATCH

While the stock markets regain their momentum this year,China's securities regulators have issued new rules for public list-ings of start-up enterprises.Chinese fund management firms had their most difficult year on record in 2008,losing a total of 1.5 trillion yuan($219 billion) because of the meltdowns in the domestic stock markets.The country's central bank is sticking to its appropriately accommoda-tive monetary policy by refraining from withdrawing cash from the open market and issuing fewer central ba...     

MARKET WATCH

National Economy in 2009 Last year was one of the most difficult periods for China's economic development in the new century.     

读音和词形英语化与法语借词

法语借词通过英语读音和词形同化而具备了英语词汇的读音和词形特征。依据非同化和同化概念细化的英语读音和词形同化方式，分析法语借词英语读音和词形同化的规律。英语读音同化法语借词呈现两种状态：英语读音体系的归属与法语发音方式的遗存；英语词形同化的法语借词词根不变，而是在词尾、词中等位置局部改变法语词形。     

经济学视野下的国家助学贷款问题探析

国家助学贷款鲜明特征是，政策性较强、资助对象及目的具有特定性、风险性较高。目前高校助学贷款制度实施存在一些问题。一是银行运行成本高，贷款风险大；二是学生诚信守约意识淡薄；三是贷款发放不平衡，供求矛盾突出。为此，一要构建完善的社会信用体系，创造良好的信用环境；二要大力推行生源地助学贷款；三要不断加强大学生的诚信教育；四要进一步完善高校贫困生资助体系，缓解国家助学贷款压力；五要完善立法，降低银行的风险。