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9 Contents & A bstracts sustainable usage, app rop riate allocation and p rotection of water resources1 The key p roblem of the sustainable usage of water resources lies in a conflict between the course and current arrangement of adm inistrative setup, and the solution lies in the enhancement of executive ability through a reform on the government s adm inistrative setup, which is also a key to the imp lement of scientifie development view1 Keywords: W ater resource; Sustainable development; W ater right theory; Adm inistrative reform M arketing Coord ina ting M echan ism in Ba sin Env ironm en ta l Protection :Cho ice and Eva lua tion W ang Yong( 33) Abstract: The marketing mechanism between basin governments highlights the competition system and p roperty right system1 The strategic choices are as follows: running water rights transition, building basin2ecological2compensation, putting pollution charge and em ission trading into p ractice, starting p rivatization in wastewater treatment establishment1 In general, these strategic choices of marketing mechanism are useful to regulate the functions of basin government and resist the local p rotection1 So it can enhance the cooperation among basin governments and the cooperative governing of negative externality1 Keywords: Basin; Governing the Negative Externality; Marketing Mechanism; W ater R ights Transition; Ecological Compensation An Ana lysis on the Prospects of M ak ing M oscow be an In terna tiona l F inanc ia l Cen ter Tang Zhuchang( 41) Abstract: In May 2008, the p roject to makemoscow be an international financial center by 2025 was officially p roposed as a strategic goal in Russia1 It incurred several controversies on whether this goal can be achieved as p lanned1 This paper holds that Russia has advantages on building an international financial center in some aspects1 However, the construction of an international financial center depends on the combined forces, and currently, there exist negative factors adversely affecting this p rocess1 A lthough this goal is just a daydream, the crucial p rerequisite for Moscow to be an international financial center as scheduled is whether Russia can make full use of its environment inpost2financial crisisto transform the traditionalcatching2up strategyand the stereotyped pattern of development which emphasizes growth while ignores structure, to imp rove the infrastructure of its financial market by reform ing the monopoly industries and enhancing the econom ic structure1 Then it may cultivate the atmosphere of develop ing an international financial center1 Keywords: Russia; Construction of the international financial center; Condition analysis; Transformation of competitive advantages and disadvantages RM B Exchange Ra te M ovem en t and L ibera liza tion Reform in the Post2cr isis Per iod L u Q ian jin( 49) Abstract: RMB exchange rate is always the focus of the government and the market1 This paper mainly studies the movement of RMB exchange rate and the reform of exchange rate liberalization, including the movement of RMB exchange rate against US Dollar and against non2us Dollar, and the reform of RMB exchange rate liberalization1 The paper compares the effects of RMB app reciate, dep reciation against US Dollar and RMB stability, and indicates that RMB exchange rate against US Dollar should keep stable during the international financial crisis1 Meanwhile the paper analyzes the relationship of RMB exchange rate against US Dollar and non2us Dollar from the view of the triangular arbitrage1 It makes a deep study on the existing p roblem s of RMB exchange rate form ing mechanism and the liberalization reform of RMB exchange rate1 Keywords: RMB exchange rate; US dollar; Non2US Dollar; Exchange rate liberalization Con tem porary In stitution Research: On the In stitutiona l Fram ework of the M odern Soc ieties 188

2001,. www. asc. net. cn China Academic Journal Electronic Publishing House. All rights reserved.

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