In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instrume...In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instruments》(Referred to IAS 39), rules of two main aspects, the classification and measurement of financial assets and the impairment model of financial assets have been changed in IFRS 9. Taking ICBC as an example, this paper studies the impact of changes in financial instruments on commercial banks. The study shows three impacts on commercial banks’ financial report. Firstly, the changes of the classification and measurement of financial assets will have limited impacts on commercial banks. Secondly, the expected-loss model will significantly increase the loan loss reserves under the new standard, thus reducing the net asset and net profit. Thirdly, the change in the measurement way of the equity instruments of available-for-sale securities will increase the fluctuation of the net profit. This study shows investors and regulators the impact of the new standard of financial instruments on commercial banks.展开更多
Based on the overall consideration of individual behaviors of Ricardian and non-Ricardian households, this paper develops a New Keynesian dynamic stochastic general equilibrium(DSGE) model to form a relatively systema...Based on the overall consideration of individual behaviors of Ricardian and non-Ricardian households, this paper develops a New Keynesian dynamic stochastic general equilibrium(DSGE) model to form a relatively systematic research framework for analyzing the economic effects of structural fiscal instruments. Our study findsthat great differences exist in the macroeconomic effects of different fiscal instruments, suggesting that the government should prudently select these fiscal instruments in fiscal macro-control. The simulating results of fiscal shocks show that the effect of tax cut is superior to the effect of increased spending. In the context of slowing economic growth and less potent stimulation policy, the government should transform its previous regulatory approach of fiscal policy and shift from hefty spending stimulus policy to structural tax cuts. This paper believes that China should step up the implementation of public-private partnership, increase its spending on social security, healthcare, pension and public services and facilitate the transition toward a service-based government; and that tax policy should focus on structural tax cuts on consumption to promote the transition of demand structure toward consumption-driven.展开更多
A new sound alloy, abbreviated to S, has been developed by the General Research Institutefor Non-ferrous Metals, Beijing. The alloy is very suitable for making trumpets, trombones, tenorhorns, saxaphones and other kin...A new sound alloy, abbreviated to S, has been developed by the General Research Institutefor Non-ferrous Metals, Beijing. The alloy is very suitable for making trumpets, trombones, tenorhorns, saxaphones and other kinds of wind instruments. Beijing Wind Instrument Factory, which is the largest one in China, has used Salloy formanufacturing 5200 type trompets, the sound performance of which has been examined with fre-quency analysis and experimented by famous musical experts. The results show that the 5200 typetrumpets made of Salloy have excellent quality, accurate intonation and ease of response at展开更多
PART TWOThe Research on Chinese Huai TangNine Acupuncture Needles TherapyI The theoretical basis of ChineseHuai Tang Nine Needles Therapy.1) The kernel of the theoretical basis ofChinese Huai Tang Nine Needles Therapy...PART TWOThe Research on Chinese Huai TangNine Acupuncture Needles TherapyI The theoretical basis of ChineseHuai Tang Nine Needles Therapy.1) The kernel of the theoretical basis ofChinese Huai Tang Nine Needles Therapy.Chinese Huai Tang Nine Needles Therapyis to give full play to the treatment action of thespecifity and entirety of each needle. The speci-fity means that each needle has its own展开更多
We describe the first two conventional, laparoscopic renal operations with a new multi-degree of freedom articulated single-use laparoscopic instrument (ArtiSential<sup>TM</sup>). The two patients underwen...We describe the first two conventional, laparoscopic renal operations with a new multi-degree of freedom articulated single-use laparoscopic instrument (ArtiSential<sup>TM</sup>). The two patients underwent different laparoscopic interventions at Ukrb University (Neuruppin, Germany): nephrectomy and Anderson-Hynes-pyeloplasty. All procedures were completed, with no need for conversion or placement of additional ports. No intraoperative complications or technical failure of the instrument was recorded. The mean operative time was 180 min median length of stay was 11.5 d. The instrument could be opened out of the sterile packaging and used at once when it was needed, because it is a single-use instrument. There was real haptical feedback and the costs are minimal compared to robot surgery. The use was straightforward and rapid processes after an intensive training of 4 h in a dry lap. Awaiting future investigations in larger series, this study proves the safety and feasibility of renal surgery with ArtiSential<sup>TM</sup> and provides relevant data that may help early adopters of this surgical instrument.展开更多
文摘In July 2014,《International Financial Reporting Standard 9:Financial Instruments》(Referred to IFRS 9)was formally published. Compared to the former standard,《International Accounting Standard 39: Financial Instruments》(Referred to IAS 39), rules of two main aspects, the classification and measurement of financial assets and the impairment model of financial assets have been changed in IFRS 9. Taking ICBC as an example, this paper studies the impact of changes in financial instruments on commercial banks. The study shows three impacts on commercial banks’ financial report. Firstly, the changes of the classification and measurement of financial assets will have limited impacts on commercial banks. Secondly, the expected-loss model will significantly increase the loan loss reserves under the new standard, thus reducing the net asset and net profit. Thirdly, the change in the measurement way of the equity instruments of available-for-sale securities will increase the fluctuation of the net profit. This study shows investors and regulators the impact of the new standard of financial instruments on commercial banks.
文摘Based on the overall consideration of individual behaviors of Ricardian and non-Ricardian households, this paper develops a New Keynesian dynamic stochastic general equilibrium(DSGE) model to form a relatively systematic research framework for analyzing the economic effects of structural fiscal instruments. Our study findsthat great differences exist in the macroeconomic effects of different fiscal instruments, suggesting that the government should prudently select these fiscal instruments in fiscal macro-control. The simulating results of fiscal shocks show that the effect of tax cut is superior to the effect of increased spending. In the context of slowing economic growth and less potent stimulation policy, the government should transform its previous regulatory approach of fiscal policy and shift from hefty spending stimulus policy to structural tax cuts. This paper believes that China should step up the implementation of public-private partnership, increase its spending on social security, healthcare, pension and public services and facilitate the transition toward a service-based government; and that tax policy should focus on structural tax cuts on consumption to promote the transition of demand structure toward consumption-driven.
文摘A new sound alloy, abbreviated to S, has been developed by the General Research Institutefor Non-ferrous Metals, Beijing. The alloy is very suitable for making trumpets, trombones, tenorhorns, saxaphones and other kinds of wind instruments. Beijing Wind Instrument Factory, which is the largest one in China, has used Salloy formanufacturing 5200 type trompets, the sound performance of which has been examined with fre-quency analysis and experimented by famous musical experts. The results show that the 5200 typetrumpets made of Salloy have excellent quality, accurate intonation and ease of response at
文摘PART TWOThe Research on Chinese Huai TangNine Acupuncture Needles TherapyI The theoretical basis of ChineseHuai Tang Nine Needles Therapy.1) The kernel of the theoretical basis ofChinese Huai Tang Nine Needles Therapy.Chinese Huai Tang Nine Needles Therapyis to give full play to the treatment action of thespecifity and entirety of each needle. The speci-fity means that each needle has its own
文摘We describe the first two conventional, laparoscopic renal operations with a new multi-degree of freedom articulated single-use laparoscopic instrument (ArtiSential<sup>TM</sup>). The two patients underwent different laparoscopic interventions at Ukrb University (Neuruppin, Germany): nephrectomy and Anderson-Hynes-pyeloplasty. All procedures were completed, with no need for conversion or placement of additional ports. No intraoperative complications or technical failure of the instrument was recorded. The mean operative time was 180 min median length of stay was 11.5 d. The instrument could be opened out of the sterile packaging and used at once when it was needed, because it is a single-use instrument. There was real haptical feedback and the costs are minimal compared to robot surgery. The use was straightforward and rapid processes after an intensive training of 4 h in a dry lap. Awaiting future investigations in larger series, this study proves the safety and feasibility of renal surgery with ArtiSential<sup>TM</sup> and provides relevant data that may help early adopters of this surgical instrument.
