急求的翻译～～～～？

From the perspective of state-owned shares
First of all, from the perspective of financing. China's stock market since the establishment of 15, nearly 1,400 listed companies in the stock market through the IPO and the issuance of配股financing amounted to more than 9,300 billion yuan. Among these, nearly 900 state-held shares and the financing of listed companies amounted to 650 billion, accounting for the total amount of the financing of 70%. These funds not only for the integration of the turnaround of state-owned enterprises is essential, but also to improve the governance structure of state-owned enterprises played a major role.
Second, maintaining and increasing the value of state-owned assets from the point of view. In nearly 900 state-held shares and listed companies, state-owned shares and state-owned legal person shares on the basis of relevant documents can not be less than 0.65 Zhegu rate (that is, by the Zhegu number of the ratio of net assets), the largest share of net assets Not more than 1.54 yuan, and in fact, the forecast, today nearly 900 state-owned listed company formed by 347.4 billion shares, invested in the establishment of the net assets amounted to 398.2 billion yuan, the average net assets per share at about 1.15 yuan.
Today, from this into a 398.2 billion yuan by the 347.4 billion shares represented by the value of state-owned capital is the number? » As of June 30, 2005, China's listed companies on average net assets per share to 2.84 yuan, while companies listed on the market average price of 4.95 yuan. If 2.84 yuan / share of the net asset value terms, nearly 900 state-owned companies listed on the book value of state-owned shares to 986.6 billion yuan, 2.48 times the value of assets. If 4.95 yuan / share of the market price, nearly 900 state-owned state-owned shares of listed companies to the market value of 1.72 trillion yuan, 4.32 times the value of assets.
Is important to note that China's state-owned capital in the stock market in the amazing value-added, on the one hand by the state-owned enterprises listed through the shareholding system reform and improve the financing of the management structure, improve its economic efficiency, but more important is access to state-owned enterprises listed in the IPO target Financing, the average circulation of shares is 6 yuan / share IPO price, which is state-owned assets 1.15 yuan / share as much as five times the investment, purchase of state-owned shares of listed companies, of which only 1 yuan for the performance of equity, and the other 5 yuan money into the capital while Provident Fund. As capital is the amount of provident fund in accordance with the shareholding ratio of shareholders entitled to a share in net assets and reflected, in fact, the flow of IPO shares at the high-priced purchase of capital generated by the Provident Fund premium, the state capital of 2.48 times has had a tremendous value-added more Big role. This is China's stock market over the past 15 years to preserve and increase the value of state assets and most convincing account of the assets.
Third, the state-owned shares from the dividend distribution of the proceeds of view. By the end of 2003, China's listed companies to its shareholders a dividend distribution to 184.4 billion yuan, of which state-owned shares of state-owned legal person shares and dividend income was 87.3 billion yuan, accounting for the total dividend distribution of 47.4 percent.
Fourth, from the revenue perspective. By the end of 2003, the stamp duty 196.5 billion yuan turned over to the stock market, shares in circulation-tax profits of about 12 billion yuan, two for a total of around 210 billion yuan.