1. Vigorous Development of the Securities Sector
　　The financial markets can be classified in the following six
　　types:
　　l Capital markets, which consist of:
　　capital market
　　亦称“长期金融市场”、“长期资金市场”。期限在一年以上各种资金借贷和证券交易的场所。因为在长期金融活动中，涉及资金期限长、风险大，具有长期较稳定收入，类似于资本投入，故称之为资本市场。
　　Stock market, which provides financing through the issuance of
　　shares, and enable the subsequent trading thereof. Shares are
　　certificates or book entries representing ownership in a
　　corporation or similar entity.
　　(1)股票市场是已经发行的股票按时价进行转让、买卖和流通的市场，包括交易市场和流通市场两部分。
　　(2)thereof ad.在其中, 关于...
　　(3)（certificates or book entries）representing ownership in a
　　corporation or similar
　　entity由动名词representing引导的动名词短语，做后置定语，修饰前面的certificates or book
　　entries。
　　(4)certificate n.A document certifying ownership.凭证：证明所有权的文件
　　Bond market, which provides financing through the issuance of
　　bonds, and enable the subsequent trading thereof. Bonds are
　　written evidences of debts.
　　(1)债券市场是发行和买卖债券的场所。
　　(2)evidence n.A thing or things helpful in forming a
　　conclusion or judgment:证明，证据：有助于得出结论或做出判断的东西或事物
　　l Commodity market, which facilitates the trading of
　　commodities.
　　(1)commodity market商品市场
　　l Money market, which provides short term debt
　　financing and investment.
　　(1)货币市场是短期资金市场，是指融资期限在一年以下的金融市场。货币市场就其结构而言，包括同业拆借市场、票据贴现市场、短期政府债券市场、证券回购市场等。
　　(1)debt financing债务融资
　　l Derivatives market, which provides instruments for
　　the management of financial risk.
　　(1)derivatives market衍生品市场
　　Futures market, where standardized futures contracts and
　　options contracts on a whole range of underlying products are
　　traded.
　　(1)futures market期货市场
　　(2)futures contracts期货合约
　　(3)options contracts期权合约
　　Options are the right to buy or sell a financial instrument at
　　an agreed price at some future time.
　　(1)option n.A right to buy or sell specific securities or
　　commodities at a stated price within a specified
　　time.期权：在规定时间内的以固定价格买卖特定的债券或商品的权力
　　l Insurance market, which facilitates the
　　redistribution of various risks.
　　insurance market保险市场
　　l Foreign exchange market, which facilitates the
　　trading of foreign exchange.
　　（1）Forex
　　market外汇交易市场——银行同业市场，建立于1971年，当时国际贸易从固定汇率转向浮动汇率。从此，一种货币相对于另一种货币的汇率通常以显式的方式来表示——双方都同意的交换关系。
　　The capital market consists of primary and secondary markets.
　　The primary market is that part of the capital market that
　　deals with the issuance of new securities. The secondary
　　market is the financial market for trading of securities that
　　have already been issued in an initial private or public
　　offering.
　　(1)资本市场可以分一级市场和二级市场
　　(2)
　　一级市场又称为初级市场或是发行市场，顾名思义就是企业首次发行股票以进行筹资的市场，为股市交易活动的发源处。公司在发售债券和股票时有两种类型：公开发行和私下募集。
　　(3)二级市场——指证券交易市场。是证券经过发行市场后,投资者不断对证券进行买卖交易,所产生的证券流通市场。二级市场又称为流通市场，为投资人交易已发行证券的场所。不同于一级市场的“一次性发行”，在二级市场上流通的股票可以被反覆地买进与卖出，一般市场常在说的“股市”即为二级市场。