The Artificial Trachea Closest to the Real Thing

THREE months after the operation that gave her an artificial trachea, Mi Aiyun was able to breathe normally, and fit enough to work in the fields for three to four hours. On July 26, 2002, Zhao Fengrui, designer of the artificial trachea and main operating surgeon, announced that his was the world’s first tracheal prosthesis capable of integrating completely with the human trachea.Six years ago, Mi Aiyun, a 48-year-old

Does the social security fund help non-financial enterprises to transform from the virtual to the real?

At its 19th National Congress,the Communist Party of China vowed to“strengthen the financial sector’s ability to serve the real economy.”However,many studies provide evidence of the opposite trend,a problematic“transition from the real to the virtual,”among Chinese enterprises.Meanwhile,the investment efficiency of China’s Social Security Fund(SSF),a public fund,attracts much attention.In this context,we use A-share listed companies in China from2009 to 2018 to study the relationship between holding by the SSF and enterprise financialization.We find that SSF holding significantly inhibits financialization and that this effect is non-linear.Mechanism analysis indicates that SSF holding suppresses enterprises’financialization mainly by improving their governance.Moreover,SSF holding more strongly inhibits small-scale(vs.large-scale),state-owned(vs.non-state-owned),and non-eastern(vs.eastern)enterprises in China.Furthermore,SSF holding can alleviate corporate value impairment caused by financialization.The conclusions enrich theoretical research and provide empirical evidence that may help regulatory authorities to guide investment by enterprises and prevent financial risks.

Understanding the Real China

Chinese officials underlined the need for the EU to gain a more balanced view of China-by looking not only at its progress but also at its challenges - at the recent China-EU strategic dialogue.

The Real China, on Wheels

"Excuse me, you can sit here,"he said. The man had reasonable pronunciation and looked studious,

Past Reviews of ＂The Identity Puzzle＂ in Nabokov＇s The Real Life of Sebastian Knight

Vladimir Vladimirovich Nabokov （1899-1977）, a Russian-born Ameri- can writer, is one of the most gifted exilic writers of the twentieth century. His first English novel, The Real Life of Sebastian Knight, which inherits certain aesthetic motifs of his Russian works, such as the artist in exile, the motif of the double, and the theme of the other world, has attracted the academic circle and received extreme views spreading between the good and the bad. But the core question in the whole of Nabokov scholarship is the ambiguous identities of the novel＇s two heroes, Sebastian and V. who are half-brothers. It is the identity puzzle that makes this novel more and more popular in Nabokov criticism. This essay attempts to review past reviews concerning this problem and analyze the four interpretations occa- sioned by the identity puzzle in Nabokov criticism.

Does the Establishment of Pilot Free Trade Zones Improve the Efficiency of Financial Services for the Real Economy?Empirical Evidence from Four Pilot Free Trade Zones in Shanghai,Tianjin,Guangdong,and Fujian

In the process of the high-quality transformation and development of China's economy,one of the issues that needs to be resolved is how to strengthen the ability of finance to serve the real economy and improve the efficiency of financial operations.Pilot Free Trade Zones(PFTZs),highlands of institutional innovation,have played the role of a natural testing ground for China to deepen its financial supply-side reform and improve the efficiency of financial services in the real economy.On that premise,this paper discusses the policy effects and transmission channels for the financial reform of PFTZs to improve the efficiency of financial services in the real economy within China.The findings of the papar are the followings,(1)The reform of PFTZsshas significantly improved the efficiency offinance in the real economy,having even achieved a sustainable effect.That is to say,with the extension of gment This work wasthe duration of free trade zone constructionand the gradual implementation of financialreform measures,the regional impactof financial services in the real economyhas shown a year-on-year upward trend.(2)The effects of financial agglomeration,financial transparency,and optimizationof financial infrastructure produced by thereform of PFTZs have played a significantregulatory role in the process of improvingthe efficiency of financial services in thefree trade zones.(3)The effect of China'sfinancial reform on PFTZs has fosterednoticeable regional diversity;an importantreason for the diversity of policy effectrests with the difference in transmissionmechanisms.The conclusions of this paper expand the research dimension of theliterature evaluating the effect of policy onPFTZs,and provide policy references fromthe perspective of financial reform in thefree trade zones for China to further deepenfinancial supply-side reform and improvethe efficiency of financial services in the realeconomy.

Serving the Real Economy

The subprime crisis that originated in the United States has prompted a global economic slowdown.In an interview with China Securities Journal, Li Yang, Director of the Institute of Finance and Banking under the Chinese Academy of Social Sciences, reflected on the lessons and opportunitiesthe crisis provides for China’s financial product innovation and development strategies.

Taming the Real Estate Market

Curbing housing prices will rely on the effectiveness of the latest government measures sales offices for housing projects are no longer enjoying the overcrowded showrooms of prospective buyers. Agents of second-hand houses have resorted to canvassing clients by making repeated phone calls,

My Views on Developing the Real Estate Industry

When the real estate industry begins torevive and develop in China,many urgentproblems on policies confront us today,Iwould like to offer some general remarks byway of introduction to prompt others comeup with valuable opinions.

Some Major Problems in the Development of the Real Estate Industry and Possible Solutions

I. The Current Situation ofOur Real Estate Industry According to the findings of a nationalsurvey in urban housing conducted in 1985,the total urban floor area of the whole coun-try has reached 4.676 billion square meters,among which industrial buildings occupied1.353 billion square meters, commercialbuildings 0.388 billion, cultural and educa-

The Real Taiyuan

Having lived in Taiyuan City, Shanxi Province,for some eight- and-a-half years,I think it’s not unreasonable to call me a pretty fair judge of the place.In the time I’ve been here, I’ve seen everything from the size of the roads to the quality of the water improved.In fact,I can even

Reconnecting With the Real World

Officials,scholars and psychologists offer remedies to online addictions prevalent among a growing number of China’s teens

Real Change for the Real Economy

With November’s consumer price index (CPI) growing at a staggering 5.1 percent, economic analysts are increasingly concerned about runaway inflation and excess liquidity in the Chinese market. Gu Shengzu, a member of the Standing Committee of the National People’s Congress and a renowned economist, pointed out it is the disordered flow of large-scale private capital that pushes up consumer prices and adds to worries about inflation. Gu offered suggestions on how to address the problem at a seminar on financial and strategic emerging industries recently held in Beijing. Edited excerpts follow:

Can Citizens Effectively Boycott The Real Estate Industry?

The sky-high house prices are nothing new in China, especially in metropolitan areas like Beijing, Shanghai and Shenzhen, where houses in prime locations can fetch prices as high as those in London, New York and Tokyo. People with an average monthly salary of between $400 and $500, the group most affected, face enormous pressure, both psychologically and financially, when required to repay bank loans on their new home. This has led to a new relationship where home-

Policy Framework for the Development of Real Estate and the Real Estate Industry in China

Compared with the situation in other countries,therole played by China’s real estate and real estate industry inincreasing municipal financial resources has the followingobviously different characteristics:In most countries,land in urban areas is privatelyowned,and so are buildings.Therefore,real estate revenuescome mainly through taxation.In China,however,urbanland as well as a greater part of the urban building stock

Everlasting Hope——Comments on the theme of Wuthering Heights

Wuthering Heights is an extraordinary novel of love and revenge.It describes the tragic love story of Catherine and Heathcliff and the happy ending of Cathy and Hareton’s love story.These two love stories are combined together,from which Emily the writer discloses the motif of the novel is the everlasting hope to the reviving of humanity.

Effecfs of Cross-Correlation Between Real Noise in Transient Process of Single-Mode and Imaginary Parts of Colored Pump Laser

A two-dimensional single-mode laser model with cross-correlation between the real and imaginary parts of the colored quadric pump noise is investigated. A novel laser amplitude Langevin equation is obtained, in which the cross-correlation λp between the real and imaginary parts of the pump noise appears. The mean, variance, and skewness of first-passage-time are calculated. It is shown that the mean, variance, and skewness of first-passage-time are strongly affected by λp.

The Principle of Calibration Using the Ionic Current——A New Calibration Method for Electro-Magnetic Flowmeters

An equivalent relationship between electro magnetic flowmeters (EMFs) and the Hall effect is discussed in principle and three equivalent conclusions about their measuring equations are derived. Thereby,the calibration using the ionic current (CUIC) is introduced to the calibration of EMFs in a special Hall effect system. A basic system with these equations is specially given and discussed for realizing the method. Two key points about CUIC are proved by a simple experiment.