Abstract:In this paper a new approach about boundary study is developed by which the evolution of a kind of so called sensitive and reactive system can be dealt with. The new approach involves that the interactive relationship between a system and its environment leads to complexity. So a lot of important characteristics about system evolution collect to the boundary. The competition between the captive force and the repellent force in a system brings up a “bend boundary” which involves varied gradations. The factors on the“bend boundary”promote the system to restructure itself in a sensitive and reactive way．As a result the system can realize its emergence or coflapse and then complete one evolution．

Abstract:The evaluation methodology, which is actually a system of thinking, can organize various evaluation methods into a system by means of one kind of systemic view. It helps people to understand so as to select suitable evaluation methods according to different evaluation objects as well as different contexts, and to carry our evaluation work effectively. This paper introduces developing processes and main ideas of oriental and western evaluation methodologies, respectively. Wu li Shi li Ren li evaluation methodology．which is developed under oriental surroundings，is elaborated here．Nowadays,the focus of both western and oriental evaluation methodologies is how to coordinate the relationships among all groups involved in evaluation．In other words，Ren—li is a very important factor in the process of evaluation．Appropriate Ren—li analysis helps to make sure the results of evaluation Call be adopted and utilized finally．Therefore．acording to our investigation and study，CATWOE analysis in Soft System Method ology (SSM ) and Strategic Assumption Surfacing and Testing (SAST)approach would be used here in order to deal with subjective effects of human beings in evaluation work effectively．The cases of applying Wu—li Shi li Ren—li evaluation method ology alm mveal the practical value of this method ology and the importance of Ren—li analysis．

Abstract:The paper presents the quality is constrained by the delay time τ. We derive an upper bound for this maximum delay time. Numerical calculating results on several model chaotic time series support the theoretical argument. According to the theory the concrete paradigram, as well as the selected method of calculating length of the economic time series were proposed. The proposed method in this paper was proved by calculating examples to be effective.

Abstract:Volume is generated directly from trading activities. More and more academic studies in finance begin to focus on it to explore various characters of investors' behaviors and to model financial markets. This paper shows that K+1 fund separation theorem implies an approximate linear K factor structure for trading volume. The linear K factor model is empirically tested using principal components analysis on turnover data of all securities in Shanghai and Shenzhen stock market over a 168 week sample period (from Jan．3rd，1 995 to May 1 5，1 998)．Further analyses on first two principal components were conducted 1o investigate implications of trading volume in Chinese stock market．

Abstract:This paper discussed the problem of supervising the price and risk control of mutual fund. Based on the theory of fuzzy stochastic system, the risk measure of mutual fund price was proposed. The behaviors of investing under the condition of transact cost were studied. Market supervision and risk control of mutual fund was discussed in the paper. Possibility simulation of efficient transaction time, in which price going up and down to the barrier controlled was completed, the simulation results show that the approach is effective．Some further researches on this problem are presented as a conclusion

Abstract:Since the later half of 1997, negative has continuously been the price index change rate of China for more than twenty months. The unusual phenomenon of declining price since the foundation of PRC has caused a heated debate on deflation, among which the viewpoint that China has been in deflation takes the dominant place. This paper thinks that due to the integration of the global economy, the obscuring of the economic boundaries among countries and the enlargement of the economic systems, there emerge lots of different qualities and characteristics in the economic system.The essential changes lead to the high degree correlation among the country economies, som uch as the policy changes. Therefore the deflation theory based on “single country theory ”have many limitations. Based on the global economic in tegration and a basket of currencies, by selecting different monetary benchmark, th is paper considers the exchange rate of RMB in relation to U S dollar and several other important factors, such as the exchange rate of J apanese Yen, the price of the in ternational crude oil and copper, and the Southeast Asia f inancial crisis. The essential reasons of the price changes in China in recent years are quant ificationally analyzed. Thereby we demon strate that the decline of the price in 1998 and 1999 basically is a normal falling back of price and the fiscal and monetary policies implemented recently to stimulate price do have already taken great effect. Finally, this paper points out the new change of the global economy from the reverse of the trend of several important economic indexes. Finally this paper points out that the newest changes happening to the global economic situation th rough the observation of several critical economic indices’changes. With the aid of the principle of the lag lead of the world economy and our economy, this paper proposes that the in ternational circumstances should be observed carefully and analyzed in depth, and the policy to stimulate the price should be implemented discreetly in the future so as to look for a set of suitable and safe policies.

Abstract:Based on the characteristic of China's exchange rate regime and the foreign exchange management system, this paper constructs an exchange rate model of renminbi (RMB) under current account convertibility. This paper gives economic analysis in detail on changes in supply and demand in the national foreign exchange market, probes the foreign trade behavior, and gives export and import and trade balance equations as well. Econometric results provide evidence that the model can explain the variations of RMB against U．S．dollar exchan gerate quite wel1．

Abstract:This paper studies adaptive modeling on genetic algorithms. The modeling problem can be regarded as an optimizing problem with a simple conversion. Based on the research of genetic algorithms in automatic programming, this paper discusses adaptive modeling method on genetic algorithms, and puts forward the improved algorithms of adaptive modeling. Finally, a concrete case using adaptive modeling on genetic algorithms is presented.

Abstract:In this paper we apply, the theory of value engineering to put forward the concepts of enterprise flexibility function, flexibility cost and flexibility value. The relations between these concepts are analysed. We point out that the enterprise should attach importance to the correspanding flexibility cost while paying attention to the flexibility function, and strive to raise the flexibility value.We also discuss the ways to raise the enterprise flexibility value.

Abstract:As a new branch of economics, chaos economics was born at the first of 1980s. It has been rapidly developed since then. R.H. Day, Stutzer, Benhabib, Shafer, Woof, Woodford, Deneekerre, Poliman and others have done a lot of research work in the field of chaos economics. Even so, there are still many open questions about basic theory of chaotic economics. For example, how to find the border point of chaos in the economic data? How to describe the complex degree of chaotic economic systems? And etc. In this paper，we apply the theory of Chaos Economi cs to Shenzhen and Shanghai slcxzk markers．Firstly，the situation of researching the stek market is reviewed．Secondly，the concept of cha os degree and its computational method are set up．Thirdly，as the application oft the chaos degree methods．the chaos degrees of both the Shenzhen and Shanghai stek markets during 1992 to 1997 an calculated and compared．Finally，the methods to control the chaos degre down are put forward

Abstract:The holding company is a firm, which possesses others' Shares with right to vote to a great degree as to have right to control or manage others. A pure industrial holding company is a firm, which possesses subsidiary company's Shares with right to vote by a large majority and controls his subsidiary company through the subsidiary company's Board and Shareholder meeting. A pure industrial holding company does not engage in production and/or marketing activities like an operating holding company. The state—owned pure industrial holding company is a result Of the reforms Of our enterprises system．In this paper．we examine the nature 0f state-owned pure industria1 holding company and propose that its functions should be engaging in property rights，industrial coordination，ma nagement and supervision，strategic management and social function s，

Abstract:The development of our society will generate new requirements for management, as well as management sciences. What is the new social economic environment of 21st century? What are the characteristics of the management activities of this century and what kind of new requirements for management and management sciences will be generated? Faced with these new requirements, what are the opportunity and strategy for Chinese management scientists? These questions will be analyzed and discussed in this paper.

Abstract:This paper uses a vector autoregression (VAR) approach to identify the causes of the recent deflation in China. The main finding is that the recent deflation was precipitated primarily by shocks to private investment and deepened mainly by the sharp decline of consumption. Monetary factors can explain the most part of the initial shock to private investment, while the decline of consumption was mainly caused by expectational factors. The results of impulse response analysis show that the consumption shocks have a long lasting impact on GDP and this can explain the relatively long duration of the recovery．

Abstract:Based on the modern securities market theory, this paper analyze the development of the IPO market of China. We do some analysis of the influence of the correlation variables of the securities market on the IPO market's return by using VARMA model. Based on the analysis, we found that there exist under pricing appearance in the past three years in China IPO market. At last, we give some explanatory for the under pricing of the IPO market and several policy suggestions.