Sharp fluctuation of soybean prices in international and domestic markets has caused big risks for both domestic soybean producers and processing enterprises in recent years. It also increases the difficulties in impl...Sharp fluctuation of soybean prices in international and domestic markets has caused big risks for both domestic soybean producers and processing enterprises in recent years. It also increases the difficulties in implementing price stabilization policy for the government. This paper analyzes the volatility spillovers in soybean prices between international and domestic markets using the multivariate VAR-BEKK-GARCH model based on the data set from December 22,2004 to December 19,2014. The estimate results indicate that there are volatility spillover effects from domestic futures market to spot market and bilateral spillover between international futures market and domestic spot market. In order to prevent market manipulation and to reduce the impacts of price volatility in international soybean market on Chinese market,this paper proposes the following policy measures such as establishing early warning mechanism for soybean price fluctuations,improving soybean futures contract design and strengthening trading risk management mechanism,amplifying information disclosure system,and regularizing speculation activities of big traders.展开更多
Shanghai Yatai Meters & Instruments Co. Ltd. was set up in 1991. It is engaged in research and development of meters and instruments for industrial duration measurement and control system. It is a new hi-tech ente...Shanghai Yatai Meters & Instruments Co. Ltd. was set up in 1991. It is engaged in research and development of meters and instruments for industrial duration measurement and control system. It is a new hi-tech enterprise worthy of the name. Recently it has completed the reform of holdings system.展开更多
Objective To analyze the development status of contract development manufacturing organization(CDMO)at home and abroad,and to make some suggestions for the development of CDMO in China.Methods The relevant literature ...Objective To analyze the development status of contract development manufacturing organization(CDMO)at home and abroad,and to make some suggestions for the development of CDMO in China.Methods The relevant literature was searched and reviewed,and the development status of CDMOs in the United States,France,Japan and China was compared from the aspects of market scale,development process,development focus,advantages and disadvantages,and policy support.Then,some suggestions for the development of CDMO enterprises in China were summarized.Results and Conclusion Through the comparison of CDMO development at home and abroad,it can be seen that China started CDMO late,there were many technical barriers and its globalization layout were not sufficient.However,the development trend was good and it focused on the field of chemical drugs and biological drugs to constantly develop innovative drugs.China needs to continuously improve its own technical capabilities to carry out innovative research.Therefore,cost reduction and efficiency increase will be the key elements for the development of CDMOs,and they are expected to have a rapid and comprehensive development in the future.展开更多
基金Supported by National Social Science Foundation of China(13BJY141)
文摘Sharp fluctuation of soybean prices in international and domestic markets has caused big risks for both domestic soybean producers and processing enterprises in recent years. It also increases the difficulties in implementing price stabilization policy for the government. This paper analyzes the volatility spillovers in soybean prices between international and domestic markets using the multivariate VAR-BEKK-GARCH model based on the data set from December 22,2004 to December 19,2014. The estimate results indicate that there are volatility spillover effects from domestic futures market to spot market and bilateral spillover between international futures market and domestic spot market. In order to prevent market manipulation and to reduce the impacts of price volatility in international soybean market on Chinese market,this paper proposes the following policy measures such as establishing early warning mechanism for soybean price fluctuations,improving soybean futures contract design and strengthening trading risk management mechanism,amplifying information disclosure system,and regularizing speculation activities of big traders.
文摘Shanghai Yatai Meters & Instruments Co. Ltd. was set up in 1991. It is engaged in research and development of meters and instruments for industrial duration measurement and control system. It is a new hi-tech enterprise worthy of the name. Recently it has completed the reform of holdings system.
文摘Objective To analyze the development status of contract development manufacturing organization(CDMO)at home and abroad,and to make some suggestions for the development of CDMO in China.Methods The relevant literature was searched and reviewed,and the development status of CDMOs in the United States,France,Japan and China was compared from the aspects of market scale,development process,development focus,advantages and disadvantages,and policy support.Then,some suggestions for the development of CDMO enterprises in China were summarized.Results and Conclusion Through the comparison of CDMO development at home and abroad,it can be seen that China started CDMO late,there were many technical barriers and its globalization layout were not sufficient.However,the development trend was good and it focused on the field of chemical drugs and biological drugs to constantly develop innovative drugs.China needs to continuously improve its own technical capabilities to carry out innovative research.Therefore,cost reduction and efficiency increase will be the key elements for the development of CDMOs,and they are expected to have a rapid and comprehensive development in the future.
