High-tech Industry Flourish in Heze

Heze is a time-honored city in southwestern Shandong province.
Heze is the largest center in China for the cultivation of the ＂national flower＂ peony, after which the Mudan District was named. Over 30 percent of its national income comes from the sale of peony.     

Yunnan,South of the Clouds

Yunnan Province is the most southwest region of China bordering the countries of Vietnam,Laos,and Burma.Yunnan encompasses 394,000 square kilometers （152,084 square miles） and has a population of more than 42 million people.     

China 2008 Ready? Go!

2008 will undoubtedly witness a series of new developments in China's economy, some will be unpredictable,and some will meet the turning corner, while others will fulfill expectations. An analysis of the reasons, developing trends and relevant policies behind these hot issues will help to outline China's economic development in 2008.     

评《中国农产品流通发展研究》

近年来,我国农产品"卖难"问题尤为突出,出现了"柑桔挂在枝头,蔬菜烂在田里,生猪存在栏里"的现象,农民增产难以增收.可以说,农产品面临的已不是产量问题,而是如何将其销售的问题.因此,对农产品流通进行研究显得迫在眉睫.农业是中国举足轻重的经济板块.要在本世纪前20年实现全面小康社会的宏伟目标,对农村人口约占80%的中国和重庆来讲得首先解决三农的问题,而搞好农产品流通是解决三农问题的核心.     

Alarms Remain,Efforts Continue

China must come to terms with the fact that it has quality problems in at least 1% of its products. Though there is no country in the world that can completely avoid problems,given the responsible role China plays on the international stage,China should stop to take a look at itself and find ways to improve.China must examine herself carefully,when looking at the production chain;we have to keep aware that some alarms still remain.     

Foreign Diplomats Cooking Chinese Dishes

The 2nd Chinese Cuisine Contest for Foreign Dip- lomats(Shanghai),a large-scale activity as part of the 1st Shanghai Shopping Festival,was held at 15:30 on Septmeber 22 in Shanghai with the theme of"The Passionate Shanghai". The Contest was organized by the China Interna- tional Foreign Public Relations Association(CIFPRA) and the Shanghai Cuisine Association with Shanghai Taifeng Packaging Co.,Ltd.as its co-organizer.The undertakers included Beijing Oulunduo International Public Relationship Company,Shanghai Xinchao In- ternational Trading Company and Shanghai Shengen Advertisement Company.     

过犹不及:管理层净语调对融资约束的影响研究

文本信息是企业信息披露的重要组成部分,以2010—2020年召开业绩说明会的中国A股上市公司为研究对象,利用文本分析方法进行文本信息提取,实证检验业绩说明会管理层净语调对融资约束的影响及作用机制。研究发现,管理层净语调能显著影响企业融资约束且两者之间呈现U型关系,意味着随着管理层净语调的增加,起初对缓解融资约束具有积极作用,超过拐点(0.591)后具有消极作用,存在“过犹不及”现象。机制研究发现,管理层净语调通过影响分析师关注进而影响企业融资约束,且明星分析师与非明星分析师的作用机制有所不同。此外,文本信息披露质量会对管理层净语调与融资约束之间关系产生异质性影响。研究结论拓展了文本语调对融资约束影响的研究,可以为信息使用者特别是中小投资者合理使用信息提供经验证据、为上市公司和监管部门改善信息披露质量提供决策参考。