Basing on the short-term change of long-term rates and the long-term change of short-term rates,a framework for the test of the expectations hypothesis of the term structure of interest rates in China is put forward and empirically studied.

Using the weekly data on the SSE(Shanghai Stock Exchange) bond market from 2001-09-01 to 2005-02-28,the expectations hypothesis of the term structure was tested and analyzed with the modern financial econometric methods of regressive analysis,unit root test and vector autoregressive.

With weekly data of repo term structures in the Shanghai Stock Exchange from January 4 1999 to November 8 2004,it is found that term structure of repo rates has obvious risk premium,and pure expectations hypothesis can t explain the term structure behavior.

In process of managing public money the government is required to make a choice among three budget hypothesis,which are present service budget,fixed maximum budget and unlimited budget.

The Critical Period Hypothesis and English Language Learning in China;

New Advances in Critical Period Hypothesis Research;

Based on research literature from China and abroad,the author discusses the the- ory of the Critical Period Hypothesis and analyses the various scientific experiments against the Critical Period Hypothesis in second language acquisition.