简介：ByusingGARCHandEGARCHmodels,theauthorsexaminetherelationshipbetweenpricevolatilityandnewinformationflow,representedbytradingvolume,andpastinformationflow,representedbytheARCHeffect,intheShanghaiStockMarketforthethreedifferentperiodsfromJuly1998toDecember2002:thesoftperiod,thebullperiod,andthebearperiod.Theempiricalresultsshowthat:(1)thereexistsa'leverageeffect'inthestockmarket;thatis,negativenewshadagreaterimpactonstockpricevolatilitythandidpositivenewsinthesoftperiodandbearperiod,butinthebullperiodthe'leverageeffect'behavesdifferently；(2)thereisasignificantlypositiverelationshipbetweentradingvolumeandstockpricevolatility,andsucharelationshipisevenmoresignificantinthebearperiod;(3)itturnsoutthatinthethreeperiods,therelationshipsbetweenstockpricevolatilityandinformationflow,bothpastandnew,arenotthesame;thatis,inboththesoftandbullperiods,boththeARCHeffect,reflecting'pastinformationflow',andtradingvolume,reflecting'newinformationflow',explainpricevolatilitysimultaneously,butinthebearperiod,theARCHeffectissubstantiallyreduced.Thesefindingsprovidekeyevidenceforunderstanding,explaining,andtrackingthecharacteristicsofpricevolatilityandthechangingrulesofthestockmarketinChinamorecomprehensively.

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简介：一、油底壳内的机油哪里去了一台新S195柴油机油底壳内的机油消耗很快，从柴油机的排气烟色上看，不象是烧机油。拆机检查，一打开齿轮室盖，“哗”——，机油流了出来，泼撤了一地，足有3千克。齿轮室里这么多的机油是从哪里来的呢?原来在齿轮室机体下侧面应有两个回油孔道，以便机油经此油道流回油底壳，形成回路。而该机体因铸造时回油孔没有打通，在安装时修理工又未能将回油孔处打通，致使齿轮室的机油不能流回油底壳，大量的润滑油聚集在齿轮室里，油底壳内的机油就大大减少了。因此，凡遇此情况时应将机体上的回油孔打通，故障排除。

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简介：IthasbeenfouryearssinceChinaEx-port&CreditInsuranceCorpo-rationwasfounded.Undertheconcernofrelevantdepartments,thesupportofalltheenterprises,thescaleofcreditinsuranceforexportsupporthasexpendedrapidly.In2005,ChinaExport&CreditInsuranceCorporationsupportedforeigneconomyandtradeexportUS$21.2billion.ThefunctionofExport&CreditInsuranceinthedevelopmentofourforeigneconomyandtradeexportisshowingup.Automobileexportisoneofthemainfieldsthattheexport&creditinsurancesupportingthemachineryandelectricityexport,andcarryingoutthestrategyofprosperingtradethroughscienceandtechnology.Astheundertakerofthemissionthatthestatesupportstheexport,ChinaExport&CreditInsuranceCorporationwillmakeeveryefforttosupporttheinternationaliza

简介：随着市场经济的飞速发展．信息化管理已经是各个大型企业管理系统中不可或缺的一部分。在市场经济体制下的今天，市场的重要性是可想而知的。它是企业存在的必要前提。而作为一个企业管理系统．它管理的重点是根据市场需要和顾客订货安排生产作业计划．制定企业经营管理的战略方针和具体策略。我们在全面了解工厂现有经营状况的基础上．结合工厂实际．设计了市场经营管理信息系统．其主要功能是为企业决策人员提供有关的市场信息．它由计划和经营研究、销售分析、订货和顾客服务以及分配四个功能模块构成。

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简介：Attheeast-westeconomicandtradeexchangeandcooperationconferencesponsoredbytheChinaCouncilforthePromotionofInternationalTrade,Shaanxi’sVice-GovernorJiangXingzhenspokeaboutShaanxi’sinvestmentenvironmentanditsdualopeningstrategy.FirstlyMr.JiangmadeabriefintroductiononShaanxi.Shaanxi,locatedatthejunctionofthemiddleandwesternareasofChina,isoneoftheoriginsofChina’ssplendidancientcivilization.Itsrichmineralresourcesinclude92varietiesofprovenreserves,28ofwhich,includingmolybdenum,rhenium,mercury,coalandnaturalgashavereservesrankinginthefirstthreeand58rankinginthetopteninthecountry.The

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简介：The’tri-goldprogram’aimingatimprovinginformationexchangeforChina’snationaleconomyhasbeenputintopractice.The’Goldbridge’projectformstheinfrastructurefortheinformationexchangeofthenationaleconomy.Itmakesgreatcontributionstothecontrolanddecision-makingofthecountry’smacro-economy,tothepromotionofsocialproductivity,andtorelievingthebottleneckpressureonthepartsofenergy,communicationsandenvironment.The’GoldCustoms’projectaimsatrealizingpaperlessforeigntrade.The’Goldcard’projectinvolvesmodernpaymentmeans,suchaselectronic

简介：DuringtheEighthFive-YearPlanperiod,ShaanxiProvinceintensifiedtherestructuringofinvestmentandmacro-controlinfixedassetsinvestmentbyimplementingthepolicyof"limitingtotalamount,readjustingstructure,rectifyingorderandimprovingefficiency".ThewholeprovincerealizedRMB110billioninfixedassetsinvestment,(includingRMB86.5billionbystate-ownedunits,RMB14.23billionthroughloansfromtheconstructionbank,makingup16.5percent),RMB67billionmorethanintheSeventhFive-YearPlanperiod,withanannualincreaseof26.5percent.Thankstothesupport,agroupofmedium-to-largeandkeyprojectshavebeenputinto