¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¸üÐÂÕÐ
ļ˵Ã÷Êé
(2021Äê06ÔÂ16ÈÕ¸üÐÂ)
»ù½ð¹ÜÀíÈË£º¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË£ºÖйúÒøÐйɷÝÓÐÏÞ¹«Ë¾
ÖØÒªÌáʾ
¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð£¨ÒÔϼò³Æ¡°±¾»ù½ð¡±£©ÒÀ¾ÝÖйú֤ȯ¼à¶½¹ÜÀíίԱ
»á2008Äê3ÔÂ26ÈÕ¡¶¹ØÓÚºË×¼¼ÎʵÑо¿¾«Ñ¡¹ÉƱÐÍ֤ȯͶ×Ê»ù½ðļ¼¯µÄÅú¸´¡·£¨Ö¤¼àÐí¿É
[2008]436ºÅ£©ºÍ2008Äê4ÔÂ10ÈÕ¡¶¹ØÓÚ¼ÎʵÑо¿¾«Ñ¡¹ÉƱÐÍ֤ȯͶ×Ê»ù½ðļ¼¯Ê±¼ä°²ÅÅ
µÄÈ·ÈϺ¯¡·£¨»ù½ð²¿º¯[2008]122ºÅ£©ºË×¼¹«¿ª·¢ÊÛ¡£±¾»ù½ð»ù½ðºÏͬÓÚ2008Äê5ÔÂ27ÈÕ
ÕýʽÉúЧ¡£
¸ù¾Ý2014Äê8ÔÂ8ÈÕÊ©Ðеġ¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÔË×÷¹ÜÀí°ì·¨¡·£¨Ö¤¼à»áÁîµÚ104
ºÅ£©µÚÈýÊ®ÌõµÚÒ»ÏîµÄ¹æ¶¨£¬¾ÓëÍйÜÈËÐÉÌÒ»Ö£¬ ¡°¼ÎʵÑо¿¾«Ñ¡¹ÉƱÐÍ֤ȯͶ×Ê»ù½ð¡±
ÓÚ2015Äê7ÔÂ16ÈÕ¸üÃûΪ¡°¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡±£¬²¢ÓÚ2015Äê8ÔÂ3ÈÕ
·¢²¼Ïà¹Ø¹«¸æ¡£
±¾»ù½ðÀàÐÍΪÆõÔ¼ÐÍ¿ª·Åʽ£¬¸ù¾Ý±¾»ù½ðµÄͶ×ÊÄ¿±êºÍͶ×Ê·¶Î§£¬±¾»ù½ðÊôÓÚ»ìºÏÐÍ
֤ȯͶ×Ê»ù½ð¡£
»ù½ð¹ÜÀíÈ˱£Ö¤±¾ÕÐļ˵Ã÷ÊéµÄÄÚÈÝÕæʵ¡¢×¼È·¡¢ÍêÕû¡£±¾ÕÐļ˵Ã÷Êé¾ÖйúÖ¤¼à»á
ºË×¼£¬µ«ÖйúÖ¤¼à»á¶Ô±¾»ù½ðļ¼¯µÄºË×¼£¬²¢²»±íÃ÷Æä¶Ô±¾»ù½ðµÄ¼ÛÖµºÍÊÕÒæ×÷³öʵÖÊÐÔ
Åжϻò±£Ö¤£¬Ò²²»±íÃ÷Ͷ×ÊÓÚ±¾»ù½ðûÓзçÏÕ¡£
±¾»ù½ðµÄͶ×Ê·¶Î§°üÀ¨´æÍÐƾ֤£¬³ýÓëÆäËû½öͶ×ÊÓÚ»¦ÉîÊг¡¹ÉƱµÄ»ù½ðËùÃæÁٵĹ²
ͬ·çÏÕÍ⣬±¾»ù½ð»¹½«ÃæÁÙÖйú´æÍÐƾ֤¼Û¸ñ´ó·ù²¨¶¯ÉõÖÁ³öÏֽϴó¿÷ËðµÄ·çÏÕ£¬ÒÔ¼°Óë
Öйú´æÍÐƾ֤·¢ÐлúÖÆÏà¹ØµÄ·çÏÕ¡£
»ù½ðµÄ¹ýÍùÒµ¼¨²¢²»Ô¤Ê¾ÆäδÀ´±íÏÖ¡£»ù½ð¹ÜÀíÈ˳ÐŵÒÀÕÕ㡾¡Ö°ÊØ¡¢³ÏʵÐÅÓᢽ÷
É÷ÇÚÃãµÄÔÔò¹ÜÀíºÍÔËÓñ¾»ù½ð²Æ²ú£¬µ«²»±£Ö¤±¾»ù½ðÒ»¶¨Ó¯Àû£¬Ò²²»±£Ö¤×îµÍÊÕÒæ¡£
±¾»ù½ðÒÔ»ù½ð·Ý¶î³õʼÃæÖµ1Ôª·¢ÊÛ²¢Í¶×ÊÓÚ֤ȯÊг¡£¬»ù½ð·Ý¶î¾»ÖµÒòΪ֤ȯÊг¡
²¨¶¯µÈÒòËزúÉú²¨¶¯£¬»ù½ð·Ý¶î¾»ÖµÓпÉÄܵÍÓÚ³õʼÃæÖµ¡£Í¶×ÊÕßÔÚͶ×ʱ¾»ù½ðÇ°,ӦȫÃæ
Á˽Ȿ»ù½ðµÄ²úÆ·ÌØÐÔ,³ä·Ö¿¼ÂÇ×ÔÉíµÄ·çÏÕ³ÐÊÜÄÜÁ¦,ÀíÐÔÅжÏÊг¡,²¢³Ðµ£»ù½ðͶ×ÊÖгö
Ïֵĸ÷Àà·çÏÕ,°üÀ¨Êг¡·çÏÕ£¨Õþ²ß·çÏÕ¡¢¾¼ÃÖÜÆÚ·çÏÕ¡¢ÀûÂÊ·çÏÕ¡¢¹ºÂòÁ¦·çÏÕ¡¢ÉÏÊй«
˾¾Óª·çÏÕ£©¡¢ÐÅÓ÷çÏÕ¡¢Á÷¶¯ÐÔ·çÏյȡ£
Ͷ×ÊÓзçÏÕ£¬Í¶×ÊÕßͶ×ÊÓÚ±¾»ù½ðÇ°Ó¦ÈÏÕæÔĶÁ±¾ÕÐļ˵Ã÷Êé¡¢»ù½ðºÏͬºÍ»ù½ð²úÆ·
×ÊÁϸÅÒª¡£
±¾ÕÐļ˵Ã÷ÊéÒѾ±¾»ù½ðÍйÜÈ˸´ºË¡£±¾ÕÐļ˵Ã÷ÊéËùÔØÄÚÈݽØÖ¹ÈÕΪ2021Äê5ÔÂ14
ÈÕ,ÓйزÆÎñÊý¾ÝºÍ¾»Öµ±íÏÖ½ØÖ¹ÈÕΪ2021Äê3ÔÂ31ÈÕ£¨Î´¾Éó¼Æ£©£¬ÌرðÊÂÏî×¢Ã÷³ýÍâ¡£
Ŀ¼
Ò»¡¢Ð÷ÑÔ........................................................................................................................................... 4
¶þ¡¢ÊÍÒå........................................................................................................................................... 5
Èý¡¢»ù½ð¹ÜÀíÈË ............................................................................................................................... 9
ËÄ¡¢»ù½ðÍйÜÈË ............................................................................................................................. 20
Îå¡¢Ïà¹Ø·þÎñ»ú¹¹ ......................................................................................................................... 22
Áù¡¢»ù½ðµÄļ¼¯ ............................................................................................................................. 59
Æß¡¢»ù½ðºÏͬµÄÉúЧ ..................................................................................................................... 61
°Ë¡¢»ù½ð·Ý¶îµÄÉ깺¡¢Êê»Ø ......................................................................................................... 62
¾Å¡¢»ù½ðת»» ................................................................................................................................. 71
Ê®¡¢»ù½ðµÄ·Ç½»Ò×¹ý»§¡¢×ªÍйܡ¢¶³½áÓëÖÊѺ ......................................................................... 77
ʮһ¡¢»ù½ðµÄͶ×Ê ......................................................................................................................... 79
Ê®¶þ¡¢»ù½ðµÄÒµ¼¨ ......................................................................................................................... 89
Ê®Èý¡¢»ù½ðµÄÈÚ×Ê¡¢ÈÚȯ ............................................................................................................. 91
Ê®ËÄ¡¢»ù½ðµÄ²Æ²ú ......................................................................................................................... 92
Ê®Îå¡¢»ù½ð×ʲú¹ÀÖµ ..................................................................................................................... 93
Ê®Áù¡¢»ù½ðÊÕÒæÓë·ÖÅä ................................................................................................................. 96
Ê®Æß¡¢»ù½ðµÄ·ÑÓÃÓëË°ÊÕ ............................................................................................................. 97
Ê®°Ë¡¢»ù½ðµÄ»á¼ÆÓëÉó¼Æ ............................................................................................................. 99
Ê®¾Å¡¢»ù½ðµÄÐÅÏ¢Åû¶ ............................................................................................................... 100
¶þÊ®¡¢·çÏÕ½Òʾ ........................................................................................................................... 105
¶þʮһ¡¢²î´í´¦Àí ....................................................................................................................... 108
¶þÊ®¶þ¡¢»ù½ðºÏͬµÄ±ä¸ü¡¢ÖÕÖ¹Óë»ù½ð×ʲúµÄÇåËã ............................................................... 110
¶þÊ®Èý¡¢»ù½ðºÏͬÄÚÈÝÕªÒª ....................................................................................................... 112
¶þÊ®ËÄ¡¢»ù½ðÍйÜÐÒéµÄÄÚÈÝÕªÒª ........................................................................................... 123
¶þÊ®Îå¡¢¶Ô»ù½ð·Ý¶î³ÖÓÐÈ˵ķþÎñ ........................................................................................... 132
¶þÊ®Áù¡¢ÆäËûÓ¦Åû¶ÊÂÏî ........................................................................................................... 134
¶þÊ®Æß¡¢ÕÐļ˵Ã÷Êé´æ·Å¼°²éÔÄ·½Ê½ ....................................................................................... 135
¶þÊ®°Ë¡¢±¸²éÎļþ ....................................................................................................................... 136
Ò»¡¢Ð÷ÑÔ
±¾ÕÐļ˵Ã÷ÊéÒÀ¾Ý¡¶ÖлªÈËÃñ¹²ºÍ¹ú֤ȯͶ×Ê»ù½ð·¨¡·£¨ÒÔϼò³Æ¡¶»ù½ð·¨¡·£©¡¢¡¶¹«
¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÔË×÷¹ÜÀí°ì·¨¡·£¨ÒÔϼò³Æ¡¶ÔË×÷°ì·¨¡·£©¡¢¡¶Ö¤È¯Í¶×Ê»ù½ðÏúÊÛ¹ÜÀí
°ì·¨¡·£¨ÒÔϼò³Æ¡¶ÏúÊÛ°ì·¨¡·£©¡¢¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÐÅÏ¢Åû¶¹ÜÀí°ì·¨¡·£¨ÒÔϼò
³Æ¡¶ÐÅÏ¢Åû¶°ì·¨¡·£©¡¢¡¶¹«¿ªÄ¼¼¯¿ª·Åʽ֤ȯͶ×Ê»ù½ðÁ÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡·(ÒÔϼò³Æ
¡°¡¶Á÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡·¡±)¡¢¡¶Ö¤È¯Í¶×Ê»ù½ðÐÅÏ¢Åû¶ÄÚÈÝÓë¸ñʽ׼ÔòµÚ5ºÅ£¼ÕÐļ˵Ã÷
ÊéµÄÄÚÈÝÓë¸ñʽ£¾¡·µÈÓйط¨ÂÉ·¨¹æÒÔ¼°¡¶¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð»ù½ðºÏͬ¡·±à
д¡£
»ù½ð¹ÜÀíÈ˳Ðŵ±¾ÕÐļ˵Ã÷Êé²»´æÔÚÈκÎÐé¼Ù¼ÇÔØ¡¢Îóµ¼ÐÔ³ÂÊö»òÕßÖØ´óÒÅ©,²¢¶ÔÆä
ÕæʵÐÔ¡¢×¼È·ÐÔ¡¢ÍêÕûÐԳе£·¨ÂÉÔðÈΡ£±¾»ù½ðÊǸù¾Ý±¾ÕÐļ˵Ã÷ÊéËùÔØÃ÷µÄ×ÊÁÏÉêÇëļ
¼¯µÄ¡£±¾»ù½ð¹ÜÀíÈËûÓÐίÍлòÊÚȨÈκÎÆäËûÈËÌṩδÔÚ±¾ÕÐļ˵Ã÷ÊéÖÐÔØÃ÷µÄÐÅÏ¢£¬»ò
¶Ô±¾ÕÐļ˵Ã÷Êé×÷ÈκνâÊÍ»òÕß˵Ã÷¡£
±¾ÕÐļ˵Ã÷Êé¸ù¾Ý±¾»ù½ðµÄ»ù½ðºÏͬ±àд£¬²¢¾ÖйúÖ¤¼à»áºË×¼¡£»ù½ðºÏͬÊÇÔ¼¶¨»ù
½ðµ±ÊÂÈËÖ®¼äȨÀû¡¢ÒåÎñµÄ·¨ÂÉÎļþ¡£»ù½ðͶ×ÊÕß×ÔÒÀ»ù½ðºÏͬȡµÃ»ù½ð·Ý¶î£¬¼´³ÉΪ»ù
½ð·Ý¶î³ÖÓÐÈ˺ͱ¾»ù½ðºÏͬµÄµ±ÊÂÈË£¬Æä³ÖÓлù½ð·Ý¶îµÄÐÐΪ±¾Éí¼´±íÃ÷Æä¶Ô»ù½ðºÏͬµÄ
³ÐÈϺͽÓÊÜ£¬²¢°´ÕÕ¡¶»ù½ð·¨¡·¡¢»ù½ðºÏͬ¼°ÆäËûÓйع涨ÏíÓÐȨÀû¡¢³Ðµ£ÒåÎñ¡£»ù½ðͶ×Ê
ÕßÓûÁ˽â»ù½ð·Ý¶î³ÖÓÐÈ˵ÄȨÀûºÍÒåÎñ£¬Ó¦Ïêϸ²éÔÄ»ù½ðºÏͬ¡£
¶þ¡¢ÊÍÒå
±¾¡¶ÕÐļ˵Ã÷Êé¡·Öгý·ÇÎÄÒâÁíÓÐËùÖ¸£¬ÏÂÁдÊÓïÓÐÈçϺ¬Ò壺
´ÊÓï»ò¼ò³Æ º¬Òå
»ù½ð»ò±¾»ù½ð Ö¸¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð
»ù½ðºÏͬ»ò±¾»ù½ðºÏͬ Ö¸¡¶¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð»ù½ðºÏͬ¡·¼°¶Ô±¾ºÏͬµÄÈκÎÓÐЧÐÞ¶©ºÍ²¹³ä
ÕÐļ˵Ã÷Êé Ö¸¡¶¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ðÕÐļ˵Ã÷Êé¡·¼°Æä¸üÐÂ
·¢ÊÛ¹«¸æ Ö¸¡¶¼ÎʵÑо¿¾«Ñ¡¹ÉƱÐÍ֤ȯͶ×Ê»ù½ð»ù½ð·Ý¶î·¢ÊÛ¹«¸æ¡·
ÍйÜÐÒé Ö¸¡¶¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ðÍйÜÐÒé¡·¼°ÆäÈκÎÓÐЧÐÞ¶©ºÍ²¹³ä
»ù½ð²úÆ·×ÊÁϸÅÒª Ö¸¡¶¼ÎʵÑо¿¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð»ù½ð²úÆ·×ÊÁϸÅÒª¡·¼°Æä¸üÐÂ
ÖйúÖ¤¼à»á Ö¸Öйú֤ȯ¼à¶½¹ÜÀíίԱ»á
ÖйúÒø¼à»á Ö¸ÖйúÒøÐб£Ïռල¹ÜÀíίԱ»á
¡¶»ù½ð·¨¡· Ö¸2003Äê10ÔÂ28ÈÕ¾µÚÊ®½ìÈ«¹úÈËÃñ´ú±í´ó»á³£ÎñίԱ»áµÚÎå´Î»áÒéͨ¹ýµÄ×Ô2004Äê6ÔÂ1ÈÕÆðÊ©Ðеġ¶ÖлªÈËÃñ¹²ºÍ¹ú֤ȯͶ×Ê»ù½ð·¨¡·¼°²»Ê±×÷³öµÄÐÞ¶©
¡¶ÏúÊÛ°ì·¨¡· Ö¸2004Äê6ÔÂ25ÈÕÓÉÖйúÖ¤¼à»á¹«²¼²¢ÓÚ2004Äê7ÔÂ1ÈÕÆðÊ©Ðеġ¶Ö¤È¯Í¶×Ê»ù½ðÏúÊÛ¹ÜÀí°ì·¨¡·¼°²»Ê±×÷³öµÄÐÞ¶©
¡¶ÔË×÷°ì·¨¡· Ö¸2004Äê6ÔÂ29ÈÕÓÉÖйúÖ¤¼à»á¹«²¼£¬ÓÚ2004Äê7ÔÂ1ÈÕÆðʵʩ²¢ÓÚ2014Äê7ÔÂ7ÈÕÐÞ¶©µÄ¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÔË×÷¹ÜÀí°ì·¨¡·¼°²»Ê±×ö³öµÄÐÞ¶©
¡¶Á÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡· Ö¸ÖйúÖ¤¼à»á2017Äê8ÔÂ31ÈÕ°ä²¼¡¢Í¬Äê10ÔÂ1ÈÕʵʩµÄ¡¶¹«¿ªÄ¼¼¯¿ª·Åʽ֤ȯͶ×Ê»ù½ðÁ÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡·¼°°ä²¼»ú¹Ø¶ÔÆ䲻ʱ×ö³öµÄÐÞ¶©
¡¶ÐÅÏ¢Åû¶°ì·¨¡· Ö¸ÖйúÖ¤¼à»á2019Äê7ÔÂ26ÈÕ°ä²¼¡¢Í¬Äê9ÔÂ1ÈÕʵʩµÄ¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÐÅÏ¢Åû¶¹ÜÀí°ì·¨¡·¼°²»Ê±×÷³öµÄÐÞ¶©
Ôª Ö¸ÈËÃñ±ÒÔª
»ù½ð¹ÜÀíÈË Ö¸¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË Ö¸ÖйúÒøÐйɷÝÓÐÏÞ¹«Ë¾
×¢²áµÇ¼ÇÒµÎñ Ö¸±¾»ù½ðµÇ¼Ç¡¢´æ¹Ü¡¢ÇåËãºÍ½»ÊÕÒµÎñ£¬¾ßÌåÄÚÈÝ°üÀ¨Í¶×ÊÕß»ù½ðÕË»§¹ÜÀí¡¢»ù½ð·Ý¶î×¢²áµÇ¼Ç¡¢ÇåËã¼°»ù½ð½»Ò×È·ÈÏ¡¢·¢·ÅºìÀû¡¢½¨Á¢²¢±£¹Ü»ù½ð·Ý¶î³ÖÓÐÈËÃû²áµÈ
×¢²áµÇ¼Ç»ú¹¹ Ö¸°ìÀí±¾»ù½ð×¢²áµÇ¼ÇÒµÎñµÄ»ú¹¹¡£±¾»ù½ðµÄ×¢²áµÇ¼Ç»ú¹¹Îª¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾»ò½ÓÊܼÎʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾Î¯ÍдúΪ°ìÀí±¾»ù½ð×¢²áµÇ¼ÇÒµÎñµÄ»ú¹¹
Ͷ×ÊÕß Ö¸¸öÈËͶ×ÊÕß¡¢»ú¹¹Í¶×ÊÕß¡¢ºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕߺͷ¨ÂÉ·¨¹æ»òÖйúÖ¤¼à»áÔÊÐí¹ºÂò֤ȯͶ×Ê»ù½ðµÄÆäËûͶ×ÊÕß
¸öÈËͶ×ÊÕß Ö¸ÒÀ¾ÝÖлªÈËÃñ¹²ºÍ¹úÓйط¨ÂÉ·¨¹æ¿ÉÒÔͶ×ÊÓÚ֤ȯͶ×Ê»ù½ðµÄ×ÔÈ»ÈË
»ú¹¹Í¶×ÊÕß Ö¸ÔÚÖйú¾³ÄںϷ¨×¢²áµÇ¼Ç»ò¾ÓÐȨÕþ¸®²¿ÃÅÅú×¼ÉèÁ¢ºÍÓÐЧ´æÐø²¢ÒÀ·¨¿ÉÒÔͶ×ÊÓÚ֤ȯͶ×Ê»ù½ðµÄÆóÒµ·¨ÈË¡¢ÊÂÒµ·¨ÈË¡¢Éç»áÍÅÌå»òÆäËû×éÖ¯
ºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕß Ö¸·ûºÏ¡¶ºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕß¾³ÄÚ֤ȯͶ×ʹÜÀí°ì·¨¡·¼°Ïà¹Ø·¨ÂÉ·¨¹æ¹æ¶¨¿ÉÒÔͶ×ÊÓÚÔÚÖйú¾³ÄںϷ¨ÉèÁ¢µÄ֤ȯͶ×Ê»ù½ðµÄÖйú¾³ÍâµÄ»ú¹¹Í¶×ÊÕß
»ù½ð·Ý¶î³ÖÓÐÈË´ó»á Ö¸°´ÕÕ±¾»ù½ðºÏͬµÚ¾Å²¿·ÖÖ®¹æ¶¨ÕÙ¼¯¡¢ÕÙ¿ª²¢ÓÉ»ù½ð·Ý¶î³ÖÓÐÈË»òÆäºÏ·¨µÄ´úÀíÈ˽øÐбí¾öµÄ»áÒé
»ù½ðļ¼¯ÆÚ Ö¸»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéÖÐÔØÃ÷£¬²¢¾ÖйúÖ¤¼à»áºË×¼µÄ»ù½ð·Ý¶îļ¼¯ÆÚÏÞ£¬×Ô»ù½ð·Ý¶î·¢ÊÛÖ®ÈÕÆð×²»³¬¹ýÈý¸öÔÂ
»ù½ðºÏͬÉúЧÈÕ Ö¸Ä¼¼¯½áÊø£¬»ù½ðļ¼¯µÄ»ù½ð·Ý¶î×ܶļ¼¯½ð¶îºÍ»ù½ð·Ý¶î³ÖÓÐÈËÈËÊý·ûºÏÏà¹Ø·¨ÂÉ·¨¹æºÍ»ù½ðºÏͬ¹æ¶¨µÄ£¬»ù½ð¹ÜÀíÈËÒÀ¾Ý¡¶»ù½ð·¨¡·ÏòÖйúÖ¤¼à»á°ìÀí±¸°¸ÊÖÐøºó£¬ÖйúÖ¤¼à»áµÄÊéÃæÈ·ÈÏÖ®ÈÕ
´æÐøÆÚ Ö¸±¾»ù½ðºÏͬÉúЧÖÁÖÕÖ¹Ö®¼äµÄ²»¶¨ÆÚÆÚÏÞ
¹¤×÷ÈÕ Ö¸ÉϺ£Ö¤È¯½»Ò×ËùºÍÉîÛÚ֤ȯ½»Ò×ËùµÄÕý³£½»Ò×ÈÕ
ÈϹº Ö¸ÔÚ»ù½ðļ¼¯ÆÚÄÚ£¬Í¶×ÊÕß°´ÕÕ±¾»ù½ðºÏͬµÄ¹æ¶¨ÉêÇ빺Âò±¾»ù½ð»ù½ð·Ý¶îµÄÐÐΪ
É깺 Ö¸ÔÚ±¾»ù½ðºÏͬÉúЧºóµÄ´æÐøÆڼ䣬Ͷ×ÊÕßÉêÇ빺Âò±¾»ù½ð»ù½ð·Ý¶îµÄÐÐΪ
Êê»Ø Ö¸ÔÚ±¾»ù½ðºÏͬÉúЧºóµÄ´æÐøÆڼ䣬»ù½ð·Ý¶î³ÖÓÐÈË°´»ù½ðºÏͬ¹æ¶¨µÄÌõ¼þÒªÇó»ù½ð¹ÜÀíÈ˹º»Ø±¾»ù½ð»ù½ð·Ý¶îµÄÐÐΪ
»ù½ðת»» Ö¸»ù½ð·Ý¶î³ÖÓÐÈË°´»ù½ð¹ÜÀíÈ˹涨µÄÌõ¼þ£¬ÉêÇ뽫Æä³ÖÓеĻù½ð¹ÜÀíÈ˹ÜÀíµÄijһ»ù½ðµÄ»ù½ð·Ý¶îת»»Îª»ù½ð¹ÜÀíÈ˹ÜÀíµÄÆäËû»ù½ðµÄ»ù½ð·Ý¶îµÄÐÐΪ
תÍÐ¹Ü Ö¸»ù½ð·Ý¶î³ÖÓÐÈ˽«Æä»ù½ðÕË»§ÄÚµÄijһ»ù½ðµÄ»ù½ð·Ý¶î´ÓÒ»¸öÏúÊÛ»ú¹¹Íйܵ½ÁíÒ»ÏúÊÛ»ú¹¹µÄÐÐΪ
Ͷ×ÊÖ¸Áî Ö¸»ù½ð¹ÜÀíÈËÔÚÔËÓûù½ð²Æ²ú½øÐÐͶ×Êʱ£¬Ïò»ù½ðÍйÜÈË·¢³öµÄ×ʽ𻮲¦¼°ÊµÎïȯµ÷²¦µÈÖ¸Áî
´úÏú»ú¹¹ Ö¸·ûºÏ¡¶ÏúÊÛ°ì·¨¡·ºÍÖйúÖ¤¼à»á¹æ¶¨µÄÆäËûÌõ¼þ£¬È¡µÃ»ù½ð´úÏúÒµÎñ×ʸñ²¢½ÓÊÜ»ù½ð¹ÜÀíÈËίÍУ¬´úΪ°ìÀí»ù½ðÈϹº¡¢É깺¡¢Êê»ØºÍÆäËû»ù½ðÒµÎñµÄ»ú¹¹
ÏúÊÛ»ú¹¹ Ö¸»ù½ð¹ÜÀíÈ˼°±¾»ù½ð´úÏú»ú¹¹
»ù½ðÏúÊÛÍøµã Ö¸»ù½ð¹ÜÀíÈ˵ÄÖ±ÏúÖÐÐļ°»ù½ð´úÏú»ú¹¹µÄ´úÏúÍøµã
Ö¸¶¨Ã½½é Ö¸ÖйúÖ¤¼à»áÖ¸¶¨µÄÓÃÒÔ½øÐÐÐÅÏ¢Åû¶µÄÈ«¹úÐÔ±¨¿¯¼°Ö¸¶¨»¥ÁªÍøÍøÕ¾£¨°üÀ¨»ù½ð¹ÜÀíÈËÍøÕ¾¡¢»ù½ðÍйÜÈËÍøÕ¾¡¢ÖйúÖ¤¼à»á»ù½ðµç×ÓÅû¶ÍøÕ¾£©µÈý½é
»ù½ðÕË»§ ָע²áµÇ¼Ç»ú¹¹Îª»ù½ðͶ×ÊÕß¿ªÁ¢µÄ¼Ç¼Æä³ÖÓеÄÓɸÃ×¢²áµÇ¼Ç»ú¹¹°ìÀí×¢²áµÇ¼ÇµÄ»ù½ð·Ý¶îÓà¶î¼°Æä±ä¶¯Çé¿öµÄÕË»§
½»Ò×ÕË»§ Ö¸ÏúÊÛ»ú¹¹ÎªÍ¶×ÊÕß¿ªÁ¢µÄ¼Ç¼Ͷ×ÊÕßͨ¹ý¸ÃÏúÊÛ»ú¹¹°ìÀíÈϹº¡¢É깺¡¢Êê»Ø¡¢×ª»»¼°×ªÍйܵÈÒµÎñ¶øÒýÆðµÄ»ù½ð·Ý¶îµÄ±ä¶¯¼°½áÓàÇé¿öµÄÕË»§
¿ª·ÅÈÕ Ö¸ÎªÍ¶×ÊÕß°ìÀí»ù½ðÉ깺¡¢Êê»ØµÈÒµÎñµÄ¹¤×÷ÈÕ
T ÈÕ Ö¸ÏúÊÛ»ú¹¹ÊÜÀíͶ×ÊÕßÉ깺¡¢Êê»Ø»òÆäËûÒµÎñÉêÇëµÄÈÕÆÚ
T+nÈÕ Ö¸TÈպ󣨲»°üÀ¨TÈÕ£©µÚn¸ö¹¤×÷ÈÕ£¬nÖ¸×ÔÈ»Êý
»ù½ðÊÕÒæ Ö¸»ù½ðͶ×ÊËùµÃºìÀû¡¢¹ÉÏ¢¡¢Õ®È¯ÀûÏ¢¡¢ÂòÂô֤ȯ¼Û²î¡¢ÒøÐдæ¿îÀûÏ¢¡¢ÆäËûºÏ·¨ÊÕÈë¼°ÒòÔËÓûù½ð²Æ²ú´øÀ´µÄ³É±¾ºÍ·ÑÓõĽÚÔ¼
»ù½ð×ʲú×ÜÖµ Ö¸»ù½ð³ÖÓеĸ÷ÀàÓмÛ֤ȯ¡¢ÒøÐдæ¿î±¾Ï¢¡¢Ó¦ÊÕÉ깺¿îÒÔ¼°ÒÔÆäËû×ʲúµÈÐÎʽ´æÔڵĻù½ð²Æ²úµÄ¼ÛÖµ×ܺÍ
»ù½ð×ʲú¾»Öµ Ö¸»ù½ð×ʲú×ÜÖµ¼õÈ¥»ù½ð¸ºÕ®ºóµÄ¼ÛÖµ
»ù½ð·Ý¶î¾»Öµ Ö¸ÒÔ¼ÆËãÈÕ»ù½ð×ʲú¾»Öµ³ýÒÔ¼ÆËãÈÕ»ù½ð·Ý¶îÓà¶îËùµÃµÄ»ù½ð·Ý¶îµÄ¼ÛÖµ
Á÷¶¯ÐÔÊÜÏÞ×ʲú Ö¸ÓÉÓÚ·¨ÂÉ·¨¹æ¡¢¼à¹Ü¡¢ºÏͬ»ò²Ù×÷ÕÏ°µÈÔÒòÎÞ·¨ÒÔºÏÀí¼Û¸ñÓèÒÔ±äÏÖµÄ×ʲú£¬°üÀ¨µ«²»ÏÞÓÚµ½ÆÚÈÕÔÚ10¸ö½»Ò×ÈÕÒÔÉϵÄÄæ»Ø¹ºÓëÒøÐж¨ÆÚ´æ¿î£¨º¬ÐÒé
Ô¼¶¨ÓÐÌõ¼þÌáǰ֧ȡµÄÒøÐдæ¿î£©¡¢Í£ÅƹÉƱ¡¢Á÷ͨÊÜÏÞµÄйɼ°·Ç¹«¿ª·¢ÐйÉƱ¡¢×ʲúÖ§³Ö֤ȯ¡¢Òò·¢ÐÐÈËÕ®ÎñÎ¥Ô¼ÎÞ·¨½øÐÐתÈûò½»Ò×µÄծȯµÈ
»ù½ð×ʲú¹ÀÖµ Ö¸¼ÆËã¡¢ÆÀ¹À»ù½ð×ʲúºÍ¸ºÕ®µÄ¼ÛÖµ£¬ÒÔÈ·¶¨»ù½ð×ʲú¾»ÖµºÍ»ù½ð·Ý¶î¾»ÖµµÄ¹ý³Ì
·¨ÂÉ·¨¹æ Ö¸ÖлªÈËÃñ¹²ºÍ¹úÏÖÐÐÓÐЧµÄ·¨ÂÉ¡¢ÐÐÕþ·¨¹æ¡¢Ë¾·¨½âÊÍ¡¢µØ·½·¨¹æ¡¢µØ·½¹æÕ¡¢²¿ÃŹæÕ¼°ÆäËû¹æ·¶ÐÔÎļþÒÔ¼°¶ÔÓڸõȷ¨ÂÉ·¨¹æµÄ²»Ê±Ð޸ĺͲ¹³ä
²»¿É¿¹Á¦ Ö¸ÈκÎÎÞ·¨Ô¤¼û¡¢ÎÞ·¨¿Ë·þ¡¢ÎÞ·¨±ÜÃâµÄʼþºÍÒòËØ£¬°üÀ¨µ«²»ÏÞÓÚºéË®¡¢µØÕð¼°ÆäËû×ÔÈ»ÔÖº¦¡¢Õ½Õù¡¢ÒßÇ顢ɧÂÒ¡¢»ðÔÖ¡¢Õþ¸®Õ÷Óá¢Ã»ÊÕ¡¢·¨Âɱ仯¡¢Í»·¢Í£µç»òÆäËûÍ»·¢Ê¼þ¡¢Ö¤È¯½»Ò׳¡Ëù·ÇÕý³£ÔÝÍ£»òÍ£Ö¹½»Ò×µÈ
»ù½ð·Ý¶î·ÖÀà ±¾»ù½ð¸ù¾Ý»ù½ðÏúÊ۵ؼ°É깺Êê»Ø·ÑÂʵIJ»Í¬£¬½«»ù½ð·Ý¶î·ÖΪ²»Í¬µÄÀà±ð¡£Á½Àà»ù½ð·Ý¶î·ÖÉ費ͬµÄ»ù½ð´úÂ룬²¢·Ö±ð¹«²¼»ù½ð·Ý¶î¾»Öµ£»
AÀà»ù½ð·Ý¶î ½öÔÚÖйú´ó½µØÇøÏúÊÛ£¬²¢ÊÕÈ¡É깺ºÍÊê»Ø·ÑÓõĻù½ð·Ý¶î£»
HÀà»ù½ð·Ý¶î ½öÔÚÖйúÏã¸ÛµØÇøÏúÊÛ£¬²¢ÊÕÈ¡É깺ºÍÊê»Ø·ÑÓõĻù½ð·Ý¶î£»
Èý¡¢»ù½ð¹ÜÀíÈË
£¨Ò»£© »ù½ð¹ÜÀíÈË»ù±¾Çé¿ö
1¡¢»ù±¾ÐÅÏ¢
Ãû³Æ ¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
×¢²áµØÖ· Öйú£¨ÉϺ££©×ÔÓÉóÒ×ÊÔÑéÇøÊÀ¼Í´óµÀ8ºÅÉϺ£¹ú½ðÖÐÐĶþÆÚ27Â¥09-14µ¥Ôª
°ì¹«µØÖ· ±±¾©Êг¯ÑôÇø½¨¹úÃÅÍâ´ó½Ö21ºÅ±±¾©¹ú¼Ê¾ãÀÖ²¿C×ùд×ÖÂ¥12A²ã
·¨¶¨´ú±íÈË ¾À×
³ÉÁ¢ÈÕÆÚ 1999Äê3ÔÂ25ÈÕ
×¢²á×ʱ¾ 1.5ÒÚÔª
¹ÉȨ½á¹¹ ÖгÏÐÅÍÐÓÐÏÞÔðÈι«Ë¾40%£¬DWS Investments Singapore Limited 30%£¬Á¢ÐÅͶ×ÊÓÐÏÞÔðÈι«Ë¾30%¡£
´æÐøÆÚ¼ä ³ÖÐø¾Óª
µç»° £¨010£©65215588
´«Õæ £¨010£©65185678
ÁªÏµÈË ºúÓÂÇÕ
¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾¾ÖйúÖ¤¼à»áÖ¤¼à»ù×Ö[1999]5ºÅÎÄÅú×¼£¬ÓÚ1999Äê3ÔÂ25ÈÕ
³ÉÁ¢£¬ÊÇÖйúµÚÒ»Åú»ù½ð¹ÜÀí¹«Ë¾Ö®Ò»£¬ÊÇÖÐÍâºÏ×Ê»ù½ð¹ÜÀí¹«Ë¾¡£¹«Ë¾×¢²áµØÉϺ££¬×ܲ¿
ÉèÔÚ±±¾©²¢Éè±±¾©¡¢ÉîÛÚ¡¢³É¶¼¡¢º¼ÖÝ¡¢Çൺ¡¢ÄϾ©¡¢¸£ÖÝ¡¢¹ãÖÝ¡¢±±¾©»³Èá¡¢Î人·Ö¹«Ë¾¡£
¹«Ë¾»ñµÃÊ×ÅúÈ«¹úÉç±£»ù½ð¡¢ÆóÒµÄê½ðͶ×ʹÜÀíÈË¡¢QDII×ʸñºÍÌض¨×ʲú¹ÜÀíÒµÎñ×ʸñ¡£
2¡¢¹ÜÀí»ù½ðÇé¿ö
½ØÖ¹2021Äê3ÔÂ31ÈÕ£¬»ù½ð¹ÜÀíÈ˹²¹ÜÀí217Ö»¿ª·Åʽ֤ȯͶ×Ê»ù½ð£¬¾ßÌå°üÀ¨¼Î
ʵ³É³¤ÊÕÒæ»ìºÏ¡¢¼ÎʵÔö³¤»ìºÏ¡¢¼ÎʵÎȽ¡»ìºÏ¡¢¼Îʵծȯ¡¢¼Îʵ·þÎñÔöÖµÐÐÒµ»ìºÏ¡¢¼Î
ʵÓÅÖÊÆóÒµ»ìºÏ¡¢¼Îʵ»õ±Ò¡¢¼Îʵ»¦Éî300ETFÁª½Ó£¨LOF£©¡¢¼Îʵ³¬¶Ìծծȯ¡¢¼ÎʵÖ÷Ìâ»ì
ºÏ¡¢¼Îʵ²ßÂÔ»ìºÏ¡¢¼Îʵº£ÍâÖйú¹ÉƱ»ìºÏ£¨QDII£©¡¢¼ÎʵÑо¿¾«Ñ¡»ìºÏ¡¢¼Îʵ¶àԪծȯ¡¢
¼ÎʵÁ¿»¯°¢¶û·¨»ìºÏ¡¢¼Îʵ»Ø±¨»ìºÏ¡¢¼Îʵ»ù±¾Ãæ50Ö¸Êý£¨LOF£©¡¢¼ÎʵÎȹÌÊÕÒæծȯ¡¢¼Î
ʵ¼ÛÖµÓÅÊÆ»ìºÏ¡¢¼ÎʵH¹ÉÖ¸Êý£¨QDII-LOF£©¡¢¼ÎʵÖ÷Ìâж¯Á¦»ìºÏ¡¢¼ÎʵÁìÏȳɳ¤»ìºÏ¡¢
¼ÎʵÉîÖ¤»ù±¾Ãæ120ETF¡¢¼ÎʵÉîÖ¤»ù±¾Ãæ120ETFÁª½Ó¡¢¼Îʵ»Æ½ð£¨QDII-FOF-LOF£©¡¢¼Îʵ
ÐÅÓÃծȯ¡¢¼ÎʵÖÜÆÚÓÅÑ¡»ìºÏ¡¢¼Îʵ°²ÐÄ»õ±Ò¡¢¼ÎʵÖд´400ETF¡¢¼ÎʵÖд´400ETFÁª½Ó¡¢
¼Îʵ»¦Éî300ETF¡¢¼ÎʵÓÅ»¯ºìÀû»ìºÏ¡¢¼ÎʵȫÇò·¿µØ²ú£¨QDII£©¡¢¼Îʵ´¿Õ®Õ®È¯¡¢¼ÎʵÖÐ
Ö¤500ETF¡¢¼ÎʵÔöÇ¿ÐÅÓö¨ÆÚծȯ¡¢¼ÎʵÖÐÖ¤500ETFÁª½Ó¡¢¼ÎʵÖÐÖ¤ÖÐÆÚ¹úÕ®ETF¡¢¼Îʵ
ÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®ETFÁª½Ó¡¢¼Îʵ·áÒæ´¿Õ®¶¨ÆÚծȯ¡¢¼ÎʵÑо¿°¢¶û·¨¹ÉƱ¡¢¼ÎʵÈçÒⱦ
¶¨ÆÚծȯ¡¢¼ÎʵÃÀ¹ú³É³¤¹ÉƱ£¨QDII£©¡¢¼Îʵ·áÒæ²ßÂÔ¶¨ÆÚծȯ¡¢¼ÎʵÐÂÐËÊг¡Õ®È¯¡¢¼Îʵ
¾ø¶ÔÊÕÒæ²ßÂÔ¶¨ÆÚ»ìºÏ¡¢¼Îʵ±¦A/B¡¢¼Îʵ»îÆÚ±¦»õ±Ò¡¢¼Îʵ»îÇ®°ü»õ±Ò¡¢¼Îʵ̩ºÍ»ìºÏ¡¢
¼Îʵн½ð±¦»õ±Ò¡¢¼Îʵ¶Ô³åÌ×Àû¶¨ÆÚ»ìºÏ¡¢¼ÎʵÖÐÖ¤Ö÷ÒªÏû·ÑETF¡¢¼ÎʵÖÐÖ¤Ò½Ò©ÎÀÉúETF¡¢
¼ÎʵÖÐÖ¤½ðÈڵزúETF¡¢¼Îʵ3¸öÔÂÀí²ÆծȯA/E¡¢¼ÎʵҽÁƱ£½¡¹ÉƱ¡¢¼ÎʵÐÂÐ˲úÒµ¹ÉƱ¡¢
¼ÎʵÐÂÊÕÒæ»ìºÏ¡¢¼Îʵ»¦Éî300Ö¸ÊýÑо¿ÔöÇ¿¡¢¼ÎʵÄæÏò²ßÂÔ¹ÉƱ¡¢¼ÎʵÆóÒµ±ä¸ï¹ÉƱ¡¢
¼ÎʵÐÂÏû·Ñ¹ÉƱ¡¢¼ÎʵȫÇò»¥ÁªÍø¹ÉƱ¡¢¼ÎʵÏȽøÖÆÔì¹ÉƱ¡¢¼ÎʵʼþÇý¶¯¹ÉƱ¡¢¼Îʵ¿ì
Ïß»õ±Ò¡¢¼ÎʵµÍ¼Û²ßÂÔ¹ÉƱ¡¢¼ÎʵÖÐÖ¤½ðÈڵزúETFÁª½Ó¡¢¼ÎʵÐÂÆðµã»ìºÏ¡¢¼ÎʵÌÚѶ×Ô
Ñ¡¹É´óÊý¾Ý²ßÂÔ¹ÉƱ¡¢¼Îʵ»·±£µÍ̼¹ÉƱ¡¢¼Îʵ´´Ð³ɳ¤»ìºÏ¡¢¼ÎʵÖÇÄÜÆû³µ¹ÉƱ¡¢¼Îʵ
ÐÂÆ𺽻ìºÏ¡¢¼ÎʵвƸ»»ìºÏ¡¢¼ÎʵÎÈÏ鴿ծծȯ¡¢¼ÎʵÎÈÈð´¿Õ®Õ®È¯¡¢¼ÎʵÐÂÓÅÑ¡»ìºÏ¡¢
¼ÎʵÐÂÇ÷ÊÆ»ìºÏ¡¢¼ÎʵÐÂ˼·»ìºÏ¡¢¼Îʵ»¦¸ÛÉѡ¹ÉƱ¡¢¼ÎʵÎÈʢծȯ¡¢¼ÎʵÎÈöδ¿Õ®
ծȯ¡¢¼Îʵ°²Òæ»ìºÏ¡¢¼ÎʵÎÄÌåÓéÀÖ¹ÉƱ¡¢¼ÎʵÎÈÔó´¿Õ®Õ®È¯¡¢¼Îʵ»ÝÔó»ìºÏ£¨LOF£©¡¢¼Î
ʵ³É³¤ÔöÇ¿»ìºÏ¡¢¼Îʵ²ßÂÔÓÅÑ¡»ìºÏ¡¢¼ÎʵÑо¿ÔöÇ¿»ìºÏ¡¢¼ÎʵÓÅÊƳɳ¤»ìºÏ¡¢¼ÎʵÎÈÈÙ
ծȯ¡¢¼Îʵũҵ²úÒµ¹ÉƱ¡¢¼ÎʵÏֽ𱦻õ±Ò¡¢¼ÎʵÔöÒ汦»õ±Ò¡¢¼ÎʵÎïÁ÷²úÒµ¹ÉƱ¡¢¼Îʵ
·á°²6¸öÔ¶¨ÆÚծȯ¡¢¼ÎʵÎÈÔª´¿Õ®Õ®È¯¡¢¼ÎʵÐÂÄÜԴвÄÁϹÉƱ¡¢¼ÎʵÎÈÎõ´¿Õ®Õ®È¯¡¢
¼Îʵ·áºÍÁé»îÅäÖûìºÏ¡¢¼ÎʵÐÂÌí»ª¶¨ÆÚ»ìºÏ¡¢¼ÎʵÏÖ½ðÌíÀû»õ±Ò¡¢¼Îʵ»¦¸ÛÉî»Ø±¨»ìºÏ¡¢
¼ÎʵÔÓÍ£¨QDII-LOF£©¡¢¼ÎʵǰÑؿƼ¼»¦¸ÛÉî¹ÉƱ¡¢¼ÎʵÎȺêծȯ¡¢¼ÎʵÖйشåA¹ÉETF¡¢
¼ÎʵÎÈ»ª´¿Õ®Õ®È¯¡¢¼Îʵ6¸öÔÂÀí²Æծȯ¡¢¼ÎʵÎÈâùծȯ¡¢¼Îʵ¸»Ê±ÖйúA50ETFÁª½Ó¡¢¼Î
ʵ¸»Ê±ÖйúA50ETF¡¢¼ÎʵÖÐСÆóÒµÁ¿»¯»îÁ¦Áé»îÅäÖûìºÏ¡¢¼Îʵ´´Òµ°åETF¡¢¼ÎʵÐÂÌíÔó
¶¨ÆÚ»ìºÏ¡¢¼ÎʵÐÂÌí·á¶¨ÆÚ»ìºÏ¡¢¼ÎʵÐÂÌí»Ô¶¨ÆÚ»ìºÏ¡¢¼ÎʵÁ캽×ʲúÅäÖûìºÏ£¨FOF£©¡¢
¼Îʵ¼ÛÖµ¾«Ñ¡¹ÉƱ¡¢¼Îʵҽҩ½¡¿µ¹ÉƱ¡¢¼ÎʵÈóÔóÁ¿»¯¶¨ÆÚ»ìºÏ¡¢¼ÎʵºËÐÄÓÅÊƹÉƱ¡¢¼Î
ʵÈóºÍÁ¿»¯¶¨ÆÚ»ìºÏ¡¢¼Îʵ½ðÈÚ¾«Ñ¡¹ÉƱ¡¢¼ÎʵÐÂÌíÈÙ¶¨ÆÚ»ìºÏ¡¢¼ÎʵÖÂÐ˶¨ÆÚ´¿Õ®Õ®È¯¡¢
¼ÎʵսÂÔÅäÊÛ»ìºÏ¡¢¼ÎʵÈðÏí¶¨ÆÚ»ìºÏ¡¢¼ÎʵÐÂÌí¿µ¶¨ÆÚ»ìºÏ¡¢¼Îʵ×ÊÔ´¾«Ñ¡¹ÉƱ¡¢¼Îʵ
ÖÂӯծȯ¡¢¼ÎʵºãÉú¸Û¹Éͨо¼ÃÖ¸Êý£¨LOF£©¡¢¼ÎʵÖжÌծծȯ¡¢¼ÎʵÖÂÏí´¿Õ®Õ®È¯¡¢¼Î
ʵ»¥Í¨¾«Ñ¡¹ÉƱ¡¢¼Îʵ»¥ÈÚ¾«Ñ¡¹ÉƱ¡¢¼ÎʵÑøÀÏ 2040»ìºÏ£¨FOF£©¡¢¼ÎʵÏû·Ñ¾«Ñ¡¹ÉƱ¡¢
¼ÎʵÐÂÌíÔª¶¨ÆÚ»ìºÏ¡¢¼ÎʵÖÐÕ®1-3Õþ½ðÕ®Ö¸Êý¡¢¼ÎʵÑøÀÏ2050»ìºÏ£¨FOF£©¡¢¼Îʵ³¤Çྺ
ÕùÓÅÊƹÉƱ¡¢¼Îʵ¿Æ¼¼´´Ð»ìºÏ¡¢¼Îʵ»ù±¾Ãæ50ETF¡¢¼ÎʵÎÈÁª´¿Õ®Õ®È¯¡¢¼Îʵ»ã´ïÖжÌ
ծծȯ¡¢¼ÎʵÑøÀÏ2030»ìºÏ£¨FOF£©¡¢¼ÎʵÖÂÔª42¸öÔ¶¨ÆÚծȯ¡¢¼Îʵ»¦Éî300ºìÀûµÍ²¨
¶¯ETF¡¢¼ÎʵÐÂÌíÒ涨ÆÚ»ìºÏ¡¢¼ÎʵÈÚÏí»õ±Ò¡¢¼ÎʵÈðºçÈýÄ궨ÆÚ»ìºÏ¡¢¼Îʵ¼ÛÖµ³É³¤»ì
ºÏ¡¢¼ÎʵÑëÆó´´ÐÂÇý¶¯ETF¡¢¼ÎʵÐÂÐ˿Ƽ¼100ETF¡¢¼ÎʵÖ°²3¸öÔ¶¨ÆÚծȯ¡¢¼Îʵ»ãöÎ
ÖжÌծծȯ¡¢¼ÎʵÐÂÐ˿Ƽ¼ 100ETF Áª½Ó¡¢¼ÎʵÖ»ª´¿Õ®Õ®È¯¡¢¼ÎʵÉÌÒµÒøÐо«Ñ¡Õ®È¯¡¢
¼ÎʵÑëÆó´´ÐÂÇý¶¯ETFÁª½Ó¡¢¼ÎʵÖ»3¸öÔ¶¨ÆÚ´¿Õ®Õ®È¯¡¢¼ÎʵÃñÆó¾«Ñ¡Ò»Ä궨ÆÚծȯ¡¢
¼ÎʵÏȽøÖÆÔì100 ETF¡¢¼Îʵ»¦Éî300ºìÀûµÍ²¨¶¯ETFÁª½Ó¡¢¼Îʵ°²Ôª39¸öÔ¶¨ÆÚ´¿Õ®Õ®
ȯ¡¢¼ÎʵÖÐÕ®3-5Äê¹ú¿ªÕ®Ö¸Êý¡¢¼ÎʵöκÍÒ»Äê³ÖÓÐÆÚ»ìºÏ¡¢¼ÎʵÖÂÈÚÒ»Ä궨ÆÚծȯ¡¢¼Î
ʵÈðÎõÈýÄê·â±ÕÔË×÷»ìºÏ¡¢¼ÎʵÖÐÖ¤500Ö¸ÊýÔöÇ¿¡¢¼Îʵ»Ø±¨¾«Ñ¡¹ÉƱ¡¢¼ÎʵÖÂÄþ3¸öÔÂ
¶¨¿ª´¿Õ®Õ®È¯¡¢¼ÎʵÖÐÖ¤500³É³¤¹ÀÖµETF¡¢¼ÎʵÈðºÍÁ½Äê³ÖÓÐÆÚ»ìºÏ¡¢¼Îʵ»ù´¡²úÒµÓÅÑ¡
¹ÉƱ¡¢¼ÎʵÖÐÖ¤Ö÷ÒªÏû·ÑETFÁª½ÓA/C¡¢¼Îʵҽҩ½¡¿µ100ETF¡¢¼ÎʵÎȸ£»ìºÏ¡¢¼ÎʵÈð³É
Á½Äê³ÖÓÐÆÚ»ìºÏ¡¢¼ÎʵÖÂÒ洿ծծȯ¡¢¼Îʵ¾«Ñ¡Æ½ºâ»ìºÏ¡¢¼ÎʵÖÂÐÅÒ»Ä궨ÆÚ´¿Õ®Õ®È¯¡¢
¼ÎʵÖ¼δ¿Õ®Õ®È¯¡¢¼Îʵ²úÒµÏÈ·æ»ìºÏ¡¢¼ÎʵԶ¼û¾«Ñ¡Á½Äê³ÖÓÐÆÚ»ìºÏ¡¢¼ÎʵÖÂÒµÒ»Ä궨
ÆÚ´¿Õ®Õ®È¯¡¢¼Îʵ°²ÔóÒ»Ä궨ÆÚ´¿Õ®Õ®È¯¡¢¼ÎʵǰÑØ´´Ð»ìºÏ¡¢¼ÎʵԶ¼ûÆóÒµ¾«Ñ¡Á½Äê³Ö
ÓÐÆÚ»ìºÏ¡¢¼Îʵ¼ÛÖµ·¢ÏÖÈý¸öÔ¶¨ÆÚ»ìºÏ¡¢¼ÎʵH¹É50ETF£¨QDII£©¡¢¼ÎʵÆÖ»Ý6¸öÔ³ÖÓÐ
ÆÚ»ìºÏ¡¢¼Îʵ´´ÐÂÏÈ·æ»ìºÏ¡¢¼ÎʵºËÐijɳ¤»ìºÏ¡¢¼ÎʵÅí²©¹ú¿ªÕ®1-5ÄêÖ¸Êý¡¢¼Îʵ¶¯Á¦
ÏÈ·æ»ìºÏ¡¢¼Îʵ¶àÀûÊÕÒæծȯ¡¢¼ÎʵÎÈ»Ý6¸öÔ³ÖÓÐÆÚ»ìºÏ¡¢¼ÎʵÓÅÖʾ«Ñ¡»ìºÏ¡¢¼ÎʵÎÈ
¿¥´¿Õ®»ù½ð¡¢¼Îʵ¼ÛÖµ³¤Çà»ìºÏ¡¢¼ÎʵÃñ°²ÌíËêÎȽ¡ÑøÀÏÒ»Äê³ÖÓÐÆÚ»ìºÏ£¨FOF£©¡¢¼Îʵ¸Û
¹ÉÓÅÊÆ»ìºÏ¡¢¼Îʵî£Ïí°²¾ÃË«Àû18¸öÔ³ÖÓÐÆÚծȯ¡¢¼ÎʵÖÐÖ¤»¦¸ÛÉÁªÍøETF¡¢¼ÎʵÖÐ
Ö¤Èí¼þ·þÎñETF¡¢¼ÎʵƷÖʻر¨»ìºÏ¡¢¼Îʵ´´Òµ°åÁ½Ä궨ÆÚ»ìºÏ¡¢¼Îʵ¾ºÕùÁ¦ÓÅÑ¡»ìºÏ¡¢
¼ÎʵÆÖÓ¯Ò»Äê³ÖÓÐÆÚ»ìºÏ¡¢¼ÎʵÖÐ֤ϡÍÁ²úÒµETF¡¢¼Îʵ°¢¶û·¨ÓÅÑ¡»ìºÏ¡¢¼ÎʵÖÐÖ¤´óÅ©
ÒµETF¡¢¼Îʵ½³ÐĻر¨»ìºÏ¡£ÆäÖмÎʵÔö³¤»ìºÏ¡¢¼ÎʵÎȽ¡»ìºÏºÍ¼ÎʵծȯÊôÓÚ¼ÎʵÀí²Æ
ͨϵÁлù½ð¡£Í¬Ê±£¬»ù½ð¹ÜÀíÈË»¹¹ÜÀí¶à¸öÈ«¹úÉç±£»ù½ð¡¢ÆóÒµÄê½ð¡¢Ìض¨¿Í»§×ʲúͶ×Ê
×éºÏ¡£
£¨¶þ£© Ö÷ÒªÈËÔ±Çé¿ö
1¡¢»ù½ð¹ÜÀíÈ˶Ê¡¢¼àÊ¡¢×ܾÀí¼°ÆäËû¸ß¼¶¹ÜÀíÈËÔ±»ù±¾Çé¿ö
Å£³ÉÁ¢ÏÈÉú£¬ÁªÏ¯¶Ê³¤£¬¾¼Ãѧ˶ʿ£¬Öй²µ³Ô±¡£ÔøÈÎÖйúÈËÃñÒøÐзÇÒøÐнðÈÚ»ú
¹¹¼à¹Ü˾¸±´¦³¤¡¢´¦³¤£»ÖйúÒøÐÐÏÃÃÅ·ÖÐе³Î¯Î¯Ô±¡¢¸±Ðг¤£¨¹ÒÖ°£©£»ÖйúÒøÐÐÒµ¼à¶½¹Ü
ÀíίԱ»á£¨Ï³ÆÒø¼à»á£©·ÇÒøÐнðÈÚ»ú¹¹¼à¹Ü²¿´¦³¤£»Òø¼à»áн®¼à¹Ü¾Öµ³Î¯Î¯Ô±¡¢¸±¾Ö³¤£»
Òø¼à»áÒøÐмà¹ÜËIJ¿¸±Ö÷ÈΣ»Òø¼à»áºÚÁú½¼à¹Ü¾Öµ³Î¯Êé¼Ç¡¢¾Ö³¤£»Òø¼à»áÈÚ×ÊÐÔµ£±£Òµ
Îñ¹¤×÷²¿£¨ÈÚ×ÊÐÔµ£±£ÒµÎñ¼à¹Ü²¿¼ÊÁªÏ¯»áÒé°ì¹«ÊÒ£©Ö÷ÈΣ»ÖгÏÐÅÍÐÓÐÏÞÔðÈι«Ë¾µ³Î¯Î¯
Ô±¡¢×ܲá£ÏÖÈÎÖгÏÐÅÍÐÓÐÏÞÔðÈι«Ë¾µ³Î¯Êé¼Ç¡¢¶Ê³¤£¬¼æÈÎÖйúÐÅÍÐÒµ±£ÕÏ»ù½ðÓÐÏÞ
ÔðÈι«Ë¾¶Ê¡£
ÕÔѧ¾üÏÈÉú£¬¶Ê³¤£¬µ³Î¯Êé¼Ç£¬¾¼Ãѧ²©Ê¿¡£Ôø¾ÍÖ°ÓÚÌì½òͨÐŹ㲥¹«Ë¾µçÊÓÉè¼Æ
Ëù¡¢Íâ¾Ã³²¿ÖйúÒÇÆ÷½ø³ö¿Ú×ܹ«Ë¾¡¢±±¾©ÉÌÆ·½»Ò×Ëù¡¢Ìì½ò·ÄÖ¯Ô²ÄÁϽ»Ò×Ëù¡¢É̶¦ÆÚ
»õ¾¼ÍÓÐÏÞ¹«Ë¾¡¢±±¾©Ö¤È¯ÓÐÏÞ¹«Ë¾¡¢´ó³É»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾¡£2000Äê10ÔÂÖÁ2017Äê12
ÔÂÈμÎʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾¶Ê¡¢×ܾÀí£¬2017Äê12ÔÂÆðÈι«Ë¾¶Ê³¤¡£
°²¹úÓÂÏÈÉú£¬¶Ê£¬²©Ê¿Ñо¿Éú£¬Öй²µ³Ô±¡£ÔøÈÎÖ°ÓÚÕÐÉÌÒøÐб±¾©·ÖÐУ¬ÖйúÃñº½×Ü
¾Ö½ð·ÉÃñº½¾¼Ã·¢Õ¹ÖÐÐÄ×ܾÀíÖúÀí¼æ֤ȯҵÎñ²¿¾Àí£¬±±¾©³ÇÊÐÌú·¹É·ÝÓÐÏÞ¹«Ë¾×ܾ
Àí£¬±±¾©ÊйìµÀ½»Í¨½¨Éè¹ÜÀíÓÐÏÞ¹«Ë¾¸±×ܾÀí£¬±±¾©Êб£ÕÏÐÔס·¿½¨ÉèͶ×ÊÖÐÐĸ±×ܾÀí£¬
ÖйúÈËÃñ²Æ²ú±£ÏչɷÝÓÐÏÞ¹«Ë¾´¬²°»õÔ˱£ÏÕ²¿×ܾÀí£¬»ªÏÄÒøÐи±Ðг¤£¨¹ÒÖ°£©£¬ÖйúÈË
±£×ʲú¹ÜÀíÓÐÏÞ¹«Ë¾¸±×ܲᢵ³Î¯Î¯Ô±¡£ÖгÏÐÅÍÐÓÐÏÞÔðÈι«Ë¾¸±×ܲã¨ÄâÈΣ©¡¢µ³Î¯Î¯Ô±¡£
Mark H.CullenÏÈÉú£¬¶Ê£¬°Ä´óÀûÑǼ®£¬°Ä´óÀûÑÇĪÄÉʲ´óѧ¾¼ÃÕþÖÎרҵѧʿ¡£Ôø
ÈδïÁé¶ÙÉÌÆ·(Darlington Commodities)ÉÌÆ·½»Ò×Ö÷¹Ü£¬±´¶÷(Bain&Company)ÆÚ»õÓëÉÌÆ·
²¿¸ºÔðÈË£¬µÂÒâÖ¾ÒøÐУ¨Å¦Ô¼£©È«Çò¹ÉƱͶ×ʲ¿Ê×ϯÔËÓª¹Ù¡¢MD£¬µÂÒâÖ¾×ʲú¹ÜÀí£¨Å¦Ô¼£©
È«ÇòÊ×ϯÔËÓª¹Ù¡¢MD£¬µÂÒâÖ¾ÒøÐУ¨Â׶أ©Ê×ϯÔËÓª¹Ù£¬µÂÒâÖ¾ÒøÐÐÈ«ÇòÉó¼ÆÖ÷¹Ü¡£ÏÖÈÎ
DWS Management GmbHÖ´ÐжÊ¡¢È«ÇòÊ×ϯÔËÓª¹Ù¡£
Holger Wilhelm NaumannÏÈÉú£¬¶Ê£¬µÂ¹ú¼®¡£ÔøÈÎDWS Investment GmbH×Ó¹«Ë¾¹Ü
Àí¡¢ÒµÎñ·¢Õ¹¡¢ÒµÎñÇøÓò¿ØÖÆÅ·ÖÞ¸ºÔðÈË£¬DWS×ʲú¹ÜÀí£¨µÂ¹ú£©¹Üί»á³ÉÔ±¡¢COO£¬DWS×Ê
²ú¹ÜÀí£¨Å·ÖÞ£©COO£¬RREEF Management GmbH RREEFµÂ¹ú¸ºÔðÈË£¬DWSÈ«Çò COO£¬µÂÒâÖ¾×Ê
²ú¹ÜÀíÈ«ÇòCOO£¬ DWS¹ÜÀíίԱ»á³ÉÔ±¡¢ÑÇÌ«Çø¸ºÔðÈË£¬ÏÖÈÎDWS Investments Hong Kong
Limited¶Ê»áÖ÷ϯ¡¢ÑÇÌ«Çø¸ºÔðÈË¡£
º«¼ÒÀÖÏÈÉú£¬¶Ê£¬1990Äê±ÏÒµÓÚÇ廪´óѧ¾¼Ã¹ÜÀíѧԺ£¬Ë¶Ê¿Ñо¿Éú¡£1990Äê2ÔÂ
ÖÁ2000Äê5ÔÂÈκ£ÎÊ֤ȯͶ×Ê×ÉѯÓÐÏÞ¹«Ë¾×ܾÀí£»1994ÄêÖÁ½ñ£¬Èα±¾©µÂºãÓÐÏÞÔðÈι«
˾×ܾÀí£»2001Äê11ÔÂÖÁ½ñ£¬ÈÎÁ¢ÐÅͶ×ÊÓÐÏÞÔðÈι«Ë¾¶Ê³¤¡£
ÍõΡÏÈÉú£¬¶ÀÁ¢¶Ê£¬ÃÀ¹ú¸£ÌØÄ·´óѧÎÄÀíѧԺ¹ú¼Ê½ðÈÚרҵ²©Ê¿¡£ÔøÈÎÖ°ÓÚÖйú½¨
ÉèÒøÐÐÁÉÄþ·ÖÐС£ÔøÈÎÖйúÒøÐÐ×ÜÐйú¼Ê½ðÈÚÑо¿ËùÖúÀíÑо¿Ô±£¬ÃÀ¹ú»¯Ñ§ÒøÐзÖÎöʦ£¬
ÃÀ¹úÊÀ½çÒøÐйËÎÊ£¬ÖйúÄÏ·½Ö¤È¯ÓÐÏÞ¹«Ë¾¸±×ܲã¬ÍòÃËͶ×ʹÜÀíÓÐÏÞ¹«Ë¾¶Ê³¤¡£2004
ÖÁ½ñÈÎÍòÃ˲¢¹º¼¯ÍŶʳ¤¡£
ÌÀÐÀÏÈÉú£¬¶ÀÁ¢¶Ê£¬Öй²µ³Ô±£¬·¨Ñ§²©Ê¿£¬Ç廪´óѧ·¨Ñ§Ôº½ÌÊÚ¡¢Ç廪´óѧÉÌ·¨ÑÐ
¾¿ÖÐÐĸ±Ö÷ÈΡ¢¡¶Ç廪·¨Ñ§¡·¸±Ö÷±à£¬ÌÀÄ·É·͸¼¯ÍÅ¡°ÖйúÉÌ·¨¡±´ÔÊé±à¼×ÉѯίԱ»á³É
Ô±¡£Ôø¼æÈÎÖйú֤ȯ¼à¶½¹ÜÀíίԱ»áµÚÒ»¡¢¶þ½ì²¢¹ºÖØ×éÉóºËίԱ»áίԱ£¬ÏÖ¼æÈÎÉϺ£Ö¤
ȯ½»Ò×ËùÉÏÊÐίԱ»áίԱ¡¢ÖйúÉÏÊй«Ë¾Ð»á¶ÀÁ¢¶ÊÂίԱ»áÊ×ÈÎÖ÷ÈΡ£
ÍõÈð»ªÏÈÉú£¬¶ÀÁ¢¶Ê£¬¹ÜÀíѧ²©Ê¿£¬»á¼Æѧ½ÌÊÚ£¬×¢²á»á¼Æʦ£¬Öй²µ³Ô±¡£ÔøÈÎÖÐ
Ñë²Æ¾´óѧ²ÆÎñ»á¼Æ½ÌÑÐÊÒÖ÷ÈΡ¢Ñо¿Éú²¿¸±Ö÷ÈΡ¢ÉÌѧԺԺ³¤¼æMBA½ÌÓýÖÐÐÄÖ÷ÈΡ£ÏÖ
ÈÎÖÐÑë²Æ¾´óѧÉÌѧԺ½ÌÊÚ¡£
¾À×ÏÈÉú£¬¶Ê¡¢×ܾÀí£¬½ðÈÚѧ¡¢»á¼Æѧרҵ±¾¿ÆѧÀú£¬¹¤É̹ÜÀíѧѧʿѧ룬ÌØÐí
½ðÈÚ·ÖÎöʦ£¨CFA£©¡£1998Äêµ½2008ÄêÔÚÃÀ¹ú¹ú¼Ê¼¯ÍÅ£¨AIG£©¹ú¼ÊͶ×ʹ«Ë¾ÃÀ¹úŦԼ×ܲ¿
µ£ÈÎÑо¿Í¶×ʹ¤×÷¡£2008Äêµ½2013ÄêÀúÈÎÓÑ°î±£ÏÕÖйúÇø×ʲú¹ÜÀíÖÐÐĸ±×ܼ࣬Ê×ϯͶ×Ê
×ܼ༰×ʲú¹ÜÀíÖÐÐĸºÔðÈË¡£2013Äê10ÔÂÖÁ½ñ¾ÍÖ°ÓÚ¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾£¬ÀúÈζÊÂ×Ü
¾Àí£¨MD£©¡¢»ú¹¹Í¶×ʺ͹̶¨ÊÕÒæÒµÎñÊ×ϯͶ×ʹ٣»2018Äê3ÔÂÆðÈι«Ë¾×ܾÀí¡£
Ô¬¹Ü»ªÏÈÉú£¬¼àʳ¤£¬²©Ê¿Ñо¿Éú£¬Öй²µ³Ô±¡£ÔøÈÎÖйúÈËÃñÒøÐÐÍâ×ʽðÈÚ»ú¹¹¹ÜÀí
˾¸±´¦³¤¡¢ÒøÐмà¹Üһ˾´¦³¤£»ÖйúÒø¼à»á²ÆÎñ»á¼Æ²¿´¦³¤£¬½Î÷¼à¹Ü¾Ö¸±¾Ö³¤¡¢µ³Î¯Î¯
Ô±£»ÖйúÒø¼à»á²ÆÎñ»á¼Æ²¿Õý¾Ö¼¶Ñ²ÊÓÔ±£»ÖгÏÐÅÍÐÓÐÏÞÔðÈι«Ë¾µÚËĽì¼àÊ»ḱ¼àʳ¤¡£
ÏÖÈÎÖгÏÐÅÍÐÓÐÏÞÔðÈι«Ë¾¸±¼àʳ¤¡£
ÄÂȺÏÈÉú£¬¼àÊ£¬¾¼Ãʦ£¬Ë¶Ê¿Ñо¿Éú¡£ÔøÈÎÎ÷°²µç×ӿƼ¼´óѧÖú½Ì£¬³¤°²ÐÅÏ¢²úÒµ
£¨¼¯ÍÅ£©¹É·ÝÓÐÏÞ¹«Ë¾¶Ê»áÃØÊ飬±±¾©µÂºãÓÐÏÞÔðÈι«Ë¾²ÆÎñÖ÷¹Ü¡£2001Äê11ÔÂÖÁ½ñÈÎ
Á¢ÐÅͶ×ÊÓÐÏÞ¹«Ë¾²ÆÎñ×ܼࡣ
ÔøÏ