In China the stock exchange is now in general a non-profit-making legal entity with membership system. It is market which provides places for organized trading in securities, manages spot trading of listed stocks and bonds, supplies the customers with the services of securities clearing, delivery, transfer and storage, and with the market information. The Exchange deals with other business activities or services permitted or entrusted by the People's Bank of China.		中国目前的股票交易所通常是会员制、非盈利性的法人组织。它是专门为办理股票交易、管理上市股票和债券的现货交易提供场所、为客户提供证券的清算、交割、过户和保管以及市场信息的市场。股票交易所还经办其他业务活动，或者经中国人民银行许可或委托的业务活动。
The securities listed in exchange include government bonds, corporation bonds, financial bonds and stocks publicly issued all over the country.		在交易所挂牌上市的有价证券包括在全国公开发行的政府债券、公司债券、金融债券和股票。
If you want to buy or sell securities in the market, you must entrust member company's broker to make the dealing, register for the roll and open a capital account and a securities account. Entrustment may include personal interview, contracts by telephone, telegraph, telex and letters. Entrustment price is divided into market price and limited price. The term of entrustment is divided into one-day and five-day validity.		如果有人想在市场上买卖证券，必须委托会员公司的经纪人才能进行交易，名册登记，开立资金账户和证券交易账户。委托手续包括私人会见，通过电话、电报、电传和信函订立合约。委任价格分为市场价格和限制价格；委托期限分为当日有效和五日有效。
In securities trading, only spot trading is allowed. The transaction includes the trading of one day, regular day and appointed day. The trading amount must be a set or its multiple. Brokers are organized to trade in stocks and bonds according to the principle of time priority and price priority. The delivery, settlement and ownership-transfer of the securities are carried out through the settlement department.		证券买卖只允许现货交易，交易类别分为当日交易、普通日交易和定日交易；交易金额为一个交易单位或其倍数。经纪人按照时间优先原则和价格优先原则，有组织地进行股票和债券的买卖；证券的交割、结算、过户则通过结算部门进行。

New Words stock n. exchange n. legal adj. entity n. membership n. organize vt. trade v.;n. securities n. manage vt. list vt. bond n. clear vi. delivery n. transfer n. storage n. deal n.;vi. permit v. entrust v. broker n. register vt. roll n. capital n. account n. entrustment n. interview n. contract n. validity n. set n. multiple n. transaction n. principle n. priority n. settlement n. ownership n.

单词 股票, 股份 交换, 交易 法律的, 法定的 实体 成员资格, 成员人数 组织 贸易, 交易, 生意 有价证券 管理, 控制 列于表上, 上市 公债, 债券 交换清账 正式交付 转帐, 过户, 转让 贮藏(量), 存储 交易, 买卖；处理, 应付, 做生意 许可, 准许 委托 掮客, 经纪人 记录, 登记, 注册 记录或目录，花名册 资本, 资金 账户 委托 接见, 会见 合同, 契约 有效，有效性 套，组，交易单位 倍数, 若干 办理, 处理, 交易 法则, 原则, 原理 优先, 优先权 解决, 结算 所有权

Phrases and Expressions non-profit-making legal entity membership system spot trading listed stocks and bonds securities clearing market information government bonds corporation bonds financial bonds a capital account a securities account entrustment price market price limited price term of entrustment one-day and five-day validity regular day appointed day trading amount time priority price priority ownership-transfer settlement department

短语与词组 非盈利性的法人组织 会员制 现货交易 上市股票和债券 证券清算 市场信息 政府债券 公司债券 金融债券 资金账户 证券账户 委托价格 市场价格 限制价格 委托期间 当日有效和五日有效 普通日交易 定日交易 交易金额 时间优先 价格优先 过户 结算部

Notes 1.It is market which provides places for organized trading in securities, manages spot trading of listed stocks and bonds, supplies the customers with the services of securities clearing, delivery, transfer and storage, and with the market information.　(1)此句为主从复合句，which引导定语从句。　(2)在定语从句中，which后面有三个谓语，分别是provides…for…，manages…，supplies…with…,and with…。　(3)spot trading现货交易，即期交易　spot a.①made, paid, or delivered immediately立即制定、支付或发送　例：a spot sale.　即时结清的买卖　　②Of, relating to, or being a market in which payment or delivery is immediate现场交易的：货到时付的或现付的，交易等当时支付现金的与市场相关的或市场的，在此种市场中现金支付和交割即时进行　例：the spot market in oil.　石油的现场交易市场　(4)listed stocks and bonds上市股票和债券　(5)securities clearing, delivery, transfer and storage证券的清算、交割、过户和保管　clear vt.①to settle (a debt)清偿（债务）　　②to pass (a bill of exchange, such as a check) through a clearing-house交换清帐：通过票据交换所传递（交换票据，如支票）　delivery n.[Law] a formal act of transferring ownership of property to another【法律】 正式交付：把财产的所有权正式交付给他人的行为　例：delivery of a deed　契约的正式交付　transfer vt.[Law] to make over the possession or legal title of; convey【法律】 转让：将财产或法律权利转让；让与2.If you want to buy or sell securities in the market, you must entrust member company's broker to make the dealing, register for the roll and open a capital account and a securities account.　(1)此句是主从复合句，if引导条件状语从句。　(2)broker n.①one that acts as an agent for others, as in negotiating contracts, purchases, or sales in return for a fee or commission经纪人：他人的代理，如在谈判签约、购买或为收佣金而出售时的代理人　②a stockbroker股票经纪人　(3)register vi.to have one's name officially placed on a list of eligible voters登记在：使自己的名字正式列入合法投票人的名单中　(4)a capital account资金账户　(5)a securities account证券交易账户3.The securities listed in exchange include government bonds, corporation bonds, financial bonds and stocks publicly issued all over the country.　(1)(the securities) listed in (stock) exchange是后置定语，修饰前面的securities。　(2)(government bonds, corporation bonds, financial bonds and stocks) publicly issued all over the country是后置定语，修饰前面的bonds and stocks。　(3)bond n.a certificate of debt issued by a government or corporation guaranteeing payment of the original investment plus interest by a specified future date债券：由政府或公司发行的，保证到一将来明确的日期归还本金和利息的债务凭证　(4)stock n.①the capital or fund that a corporation raises through the sale of shares entitling the stockholder to dividends and to other rights of ownership, such as voting rights股本：商业团体通过出卖股票而积聚的资金或基金，保证给予股票持有者分红或其他权利，如选举权　 ②the number of shares that each stockholder possesses股份：股票持有者拥有的股票份额　 ③a certificate of rights to shares issued by a corporation股票：股份公司发行、表示股份份额的凭证