The steering committee recommended that a single clearing arrangement for securities , stock options , futures and other exchange traded transactions , straight - through processing and a scripless securities market should be developed 督导委员会建议为证券、股票期权、期货及其他在交易所进行的买卖作出统一的结算安排，以及发展直通式金融交易和无纸化证券交易市场。
The demerger in august 2004 , to best serve the shareholders interests , the kone board of directors presented a plan to split the company into two separately listed companies on the helsinki stock exchanges in june , 2005 2004年8月，为了实现股东的利润最大化，通力董事会发布了一项计划，从2005年6月起，通力将被拆分为两个独立的公司，在赫尔辛基的证券交易市场上市。
Article 188 anyone who , by fabricating and disseminating false information that affects securities trading , disrupts the order of the securities trading market shall be fined not less than rmb30 , 000 but not more than rmb200 , 000 第一百八十八条编造并且传播影响证券交易的虚假信息，扰乱证券交易市场的，处以三万元以上二十万元以下的罚款。构成犯罪的，依法追究刑事责任。
To civil liability for misstatements , the author suggests distinction between civil liabilities of the security issuing market and that of the trading market . civil compensation standard should be made according to the characteristics of different stages 对于虚假陈述的民事责任，建议区分证券发行市场的民事责任和证券交易市场的民事责任，并根据不同阶段的特点给予不同标准的民事赔偿。
Building up the growth enterprise market , which mainly provides public financing service to small and medium high - tech companies . the establishment of growth enterprise market is the most important breakthrough during the structural innovation of china ' s capital market 一般来说，创业板市场就是在主板市场之外的证券交易市场，其目的主要是为具有高成长性的中小企业和高新技术企业提供融资服务，成为中小企业的直接融资渠道。
Through the research work of america ' s security legislations governing civil liability of misstatement in the stock trading market , the author analyzes the constitutive requirements that lead to the identification of civil liability of misstatement and associated civil compensation in china ' s security trading market 通过对美国证券交易法中对证券交易市场虚假陈述的民事责任的研究中，分析并完善我国证券交易市场的虚假陈述的民事责任的构成要件和民事赔偿。
Tender offer refers to legal activities that a natural person or legal person ( so called the offerer ) discloses the take - over - bid ( tender offer ) to all of the shareholders of the target company , i . e . , the listed company , during a given course and by a statutory approach , to buy certain amount of voting negotiable securities to which are attached rights for voting , in order to obtain or reinforce the control power upon the listed company 具体而言，要约收购的法律内涵包括四个方面：其主观上是收购人以谋取目标公司控制权为目的；其主体是收购人(要约人)和目标公司股东，而无需征得目标公司董事会的同意；其客体是目标公司发行在外的有表决权的证券；其客观方面的特征是收购人在证券交易市场外向公司所有股东公开发出收购要约，购买该公司有表决权的证券。
Adopting the analysis including comparative law , positive jurisprudence , social jurisprudence , economic jurisprudence and the related theories of economics , this paper introduces and evaluates foreign and the domestic relative legislations on manipulation and gives two explanations against manipulation from the aspects of economics and law . then the paper gives a clear concept of manipulation and divides it into three types according to the objective behavior . meanwhile , based on analysis of particular reasons and characteristics of manipulation of chinese stock exchange market , this article discusses the mechanism of prevention and relief of manipulation 本文以证券交易市场操纵行为为研究对象，围绕市场操纵行为的判断与监管为中心展开论述，综合运用比较分析、实证分析、法社会学分析、法的经济分析以及历史分析等方法，并借助当代西方经济学的相关理论，分析和评价国内外有关市场操纵的立法利弊，从经济学角度和法学角度给出反对市场操纵的理由，对其概念进行明确界定并依其行为方式的不同予以类型化；分析我国证券交易市场操纵行为的原因和特点，在此基础上，对我国证券交易市场操纵行为的事前预防机制与事后救济机制进行探讨。
The most important subject of this paper is to study manipulation of securities exchange market of china . especially with illegal actions of fund becoming increasingly grievous , how to make fund perform in a virtuous way and realize profits fairly and open especially need to be attended to 本文的核心主题在于研究中国证券交易市场操纵行为，尤其是由于我国证券交易市场独有的特点，在证券投资基金违法违规参与操纵市场的现象日益严重的情况下，如何使基金逐渐良性运作以实现阳光下的利润，已成为世人关注的焦点。
Article 181 whoever fabricates and spreads false information to adversely affect stock exchange and disrupt the stock exchange market shall , if the consequences are serious , be sentenced to fixed - term imprisonment of not more than five years or criminal detention and shall also , or shall only , be fined not less than 10 , 000 yuan but not more than 100 , 000 yuan 第一百八十一条编造并且传播影响证券交易的虚假信息，扰乱证券交易市场，造成严重后果的，处五年以下有期徒刑或者拘役，并处或者单处一万元以上十万元以下罚金。
