»ù½ð¹ÜÀíÈË£ºÐųϻù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË£ºÖйú½¨ÉèÒøÐйɷÝÓÐÏÞ¹«Ë¾
ËͳöÈÕÆÚ£º2017 Äê 8 Ô 29 ÈÕ
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
2
¡ì1 ÖØÒªÌáʾ¼°Ä¿Â¼
1.1 ÖØÒªÌáʾ
»ù½ð¹ÜÀíÈ˵ĶÊ»ἰ¶Ê±£Ö¤±¾±¨¸æËùÔØ×ÊÁϲ»´æÔÚÐé¼Ù¼ÇÔØ¡¢Îóµ¼ÐÔ³ÂÊö»òÖØ´óÒÅ©,²¢¶ÔÆä
ÄÚÈݵÄÕæʵÐÔ¡¢×¼È·ÐÔºÍÍêÕûÐԳе£¸ö±ð¼°Á¬´øÔðÈΡ£
»ù½ðÍйÜÈËÖйú½¨ÉèÒøÐйɷÝÓÐÏÞ¹«Ë¾¸ù¾Ý±¾»ù½ðºÏͬ¹æ¶¨,ÓÚ 2017Äê 8Ô 28ÈÕ¸´ºËÁ˱¾±¨¸æ
ÖеIJÆÎñÖ¸±ê¡¢¾»Öµ±íÏÖºÍͶ×Ê×éºÏ±¨¸æµÈÄÚÈÝ,±£Ö¤¸´ºËÄÚÈݲ»´æÔÚÐé¼Ù¼ÇÔØ¡¢Îóµ¼ÐÔ³ÂÊö»òÕßÖØ´ó
ÒÅ©¡£
»ù½ð¹ÜÀíÈ˳ÐŵÒÔ³ÏʵÐÅÓá¢ÇÚÃ㾡ÔðµÄÔÔò¹ÜÀíºÍÔËÓûù½ð×ʲú,µ«²»±£Ö¤»ù½ðÒ»¶¨Ó¯Àû¡£
»ù½ðµÄ¹ýÍùÒµ¼¨²¢²»´ú±íÆäδÀ´±íÏÖ¡£Í¶×ÊÓзçÏÕ,Ͷ×ÊÕßÔÚ×÷³öͶ×ʾö²ßÇ°Ó¦×ÐϸÔĶÁ±¾»ù½ðµÄ
ÕÐļ˵Ã÷Êé¡£
±¾±¨¸æÖвÆÎñ×ÊÁÏδ¾Éó¼Æ¡£
±¾±¨¸æÆÚ×Ô 2017Äê 1 Ô 1ÈÕÆðÖÁ 6Ô 30ÈÕÖ¹¡£
1.2 Ŀ¼
¡ì1 ÖØÒªÌáʾ¼°Ä¿Â¼ .......................................................................................................................................... 2
1.1 ÖØÒªÌáʾ .............................................................................................................................................. 2
1.2 Ŀ¼ ...................................................................................................................................................... 2
¡ì2 »ù½ð¼ò½é ...................................................................................................................................................... 4
2.1 »ù½ð»ù±¾Çé¿ö ...................................................................................................................................... 4
2.2 »ù½ð²úƷ˵Ã÷ ...................................................................................................................................... 4
2.3 »ù½ð¹ÜÀíÈ˺ͻù½ðÍйÜÈË .................................................................................................................. 4
2.4 ÐÅÏ¢Åû¶·½Ê½ ...................................................................................................................................... 5
2.5 ÆäËûÏà¹Ø×ÊÁÏ ...................................................................................................................................... 5
¡ì3 Ö÷Òª²ÆÎñÖ¸±êºÍ»ù½ð¾»Öµ±íÏÖ .................................................................................................................. 5
3.1 Ö÷Òª»á¼ÆÊý¾ÝºÍ²ÆÎñÖ¸±ê .................................................................................................................. 5
3.2 »ù½ð¾»Öµ±íÏÖ ...................................................................................................................................... 5
3.3 ÆäËûÖ¸±ê .............................................................................................................................................. 6
¡ì4 ¹ÜÀíÈ˱¨¸æ .................................................................................................................................................. 6
4.1 »ù½ð¹ÜÀíÈ˼°»ù½ð¾ÀíÇé¿ö .............................................................................................................. 6
4.2 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ±¾»ù½ðÔË×÷×ñ¹æÊØÐÅÇé¿öµÄ˵Ã÷ ....................................................................... 8
4.3 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ¹«Æ½½»Ò×Çé¿öµÄרÏî˵Ã÷................................................................................... 8
4.4 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ðµÄͶ×ʲßÂÔºÍÒµ¼¨±íÏÖµÄ˵Ã÷ ................................................................... 8
4.5 ¹ÜÀíÈ˶Ժê¹Û¾¼Ã¡¢Ö¤È¯Êг¡¼°ÐÐÒµ×ßÊƵļòÒªÕ¹Íû ................................................................... 8
4.6 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ð¹ÀÖµ³ÌÐòµÈÊÂÏîµÄ˵Ã÷............................................................................... 8
4.7 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ðÀûÈó·ÖÅäÇé¿öµÄ˵Ã÷................................................................................... 9
4.8 ±¨¸æÆÚÄÚ¹ÜÀíÈ˶Ա¾»ù½ð³ÖÓÐÈËÊý»ò»ù½ð×ʲú¾»ÖµÔ¤¾¯ÇéÐεÄ˵Ã÷ ........................................... 9
¡ì5 ÍйÜÈ˱¨¸æ ................................................................................................................................................ 10
5.1 ±¨¸æÆÚÄÚ±¾»ù½ðÍйÜÈË×ñ¹æÊØÐÅÇé¿öÉùÃ÷ .................................................................................... 10
5.2 ÍйÜÈ˶Ա¨¸æÆÚÄÚ±¾»ù½ðͶ×ÊÔË×÷×ñ¹æÊØÐÅ¡¢¾»Öµ¼ÆËã¡¢ÀûÈó·ÖÅäµÈÇé¿öµÄ˵Ã÷ ................. 10
5.3 ÍйÜÈ˶Ա¾°ëÄê¶È±¨¸æÖвÆÎñÐÅÏ¢µÈÄÚÈݵÄÕæʵ¡¢×¼È·ºÍÍêÕû·¢±íÒâ¼û ................................. 10
¡ì6 °ëÄê¶È²ÆÎñ»á¼Æ±¨¸æ£¨Î´¾Éó¼Æ£© ........................................................................................................ 10
6.1 ×ʲú¸ºÕ®±í ........................................................................................................................................ 10
6.2 ÀûÈó±í ................................................................................................................................................ 11
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
3
6.3 ËùÓÐÕßȨÒ棨»ù½ð¾»Öµ£©±ä¶¯±í .................................................................................................... 12
6.4 ±¨±í¸½×¢ ............................................................................................................................................ 13
¡ì7 Ͷ×Ê×éºÏ±¨¸æ ............................................................................................................................................ 27
7.1 ÆÚÄ©»ù½ð×ʲú×éºÏÇé¿ö .................................................................................................................... 27
7.2 ÆÚÄ©°´ÐÐÒµ·ÖÀàµÄ¹ÉƱͶ×Ê×éºÏ .................................................................................................... 27
7.3 ÆÚÄ©°´¹«ÔʼÛÖµÕ¼»ù½ð×ʲú¾»Öµ±ÈÀý´óСÅÅÐòµÄËùÓйÉƱͶ×ÊÃ÷ϸ ......................................... 28
7.4 ±¨¸æÆÚÄÚ¹ÉƱͶ×Ê×éºÏµÄÖØ´ó±ä¶¯ ................................................................................................ 29
7.5 ÆÚÄ©°´Õ®È¯Æ·ÖÖ·ÖÀàµÄծȯͶ×Ê×éºÏ ............................................................................................ 31
7.6 ÆÚÄ©°´¹«ÔʼÛÖµÕ¼»ù½ð×ʲú¾»Öµ±ÈÀý´óСÅÅÐòµÄÇ°ÎåÃûծȯͶ×ÊÃ÷ϸ ..................................... 32
7.7 ÆÚÄ©°´¹«ÔʼÛÖµÕ¼»ù½ð×ʲú¾»Öµ±ÈÀý´óСÅÅÐòµÄËùÓÐ×ʲúÖ§³Ö֤ȯͶ×ÊÃ÷ϸ ......................... 32
7.8 ÆÚÄ©°´¹«ÔʼÛÖµÕ¼»ù½ð×ʲú¾»Öµ±ÈÀý´óСÅÅÐòµÄÇ°ÎåÃû¹ó½ðÊôͶ×ÊÃ÷ϸ ................................. 32
7.9 ÆÚÄ©°´¹«ÔʼÛÖµÕ¼»ù½ð×ʲú¾»Öµ±ÈÀý´óСÅÅÐòµÄÇ°ÎåÃûȨ֤Ͷ×ÊÃ÷ϸ ..................................... 32
7.10 ±¨¸æÆÚÄ©±¾»ù½ðͶ×ʵĹÉÖ¸ÆÚ»õ½»Ò×Çé¿ö˵Ã÷............................................................................. 32
7.11 ±¨¸æÆÚÄ©±¾»ù½ðͶ×ʵĹúÕ®ÆÚ»õ½»Ò×Çé¿ö˵Ã÷............................................................................. 32
7.12 Ͷ×Ê×éºÏ±¨¸æ¸½×¢ ............................................................................................................................ 33
¡ì8 »ù½ð·Ý¶î³ÖÓÐÈËÐÅÏ¢ ................................................................................................................................ 34
8.1 ÆÚÄ©»ù½ð·Ý¶î³ÖÓÐÈË»§Êý¼°³ÖÓÐÈ˽ṹ ........................................................................................ 34
8.2 ÆÚÄ©ÉÏÊлù½ðÇ°Ê®Ãû³ÖÓÐÈË ............................................................................................................ 34
8.3 ÆÚÄ©»ù½ð¹ÜÀíÈ˵ĴÓÒµÈËÔ±³ÖÓб¾»ù½ðµÄÇé¿ö............................................................................. 34
8.4 ÆÚÄ©»ù½ð¹ÜÀíÈ˵ĴÓÒµÈËÔ±³ÖÓб¾¿ª·Åʽ»ù½ð·Ý¶î×ÜÁ¿Çø¼äµÄÇé¿ö ......................................... 35
8.5 ·¢Æðʽ»ù½ð·¢Æð×ʽð³ÖÓзݶîÇé¿ö ................................................................................................ 35
¡ì9 ¿ª·Åʽ»ù½ð·Ý¶î±ä¶¯ ................................................................................................................................ 35
¡ì10 ÖØ´óʼþ½Òʾ ............................................................................................................................................ 35
10.1 »ù½ð·Ý¶î³ÖÓÐÈË´ó»á¾öÒé ................................................................................................................ 35
10.2 »ù½ð¹ÜÀíÈË¡¢»ù½ðÍйÜÈ˵ÄרÃÅ»ù½ðÍйܲ¿ÃŵÄÖØ´óÈËʱ䶯 ................................................. 35
10.3 Éæ¼°»ù½ð¹ÜÀíÈË¡¢»ù½ð²Æ²ú¡¢»ù½ðÍйÜÒµÎñµÄËßËÏ ..................................................................... 35
10.4 »ù½ðͶ×ʲßÂԵĸıä ........................................................................................................................ 35
10.5 Ϊ»ù½ð½øÐÐÉó¼ÆµÄ»á¼ÆʦÊÂÎñËùÇé¿ö ............................................................................................ 36
10.6 ¹ÜÀíÈË¡¢ÍйÜÈ˼°Æä¸ß¼¶¹ÜÀíÈËÔ±ÊÜ»ü²é»ò´¦·£µÈÇé¿ö ............................................................. 36
10.7 »ù½ð×âÓÃ֤ȯ¹«Ë¾½»Ò×µ¥ÔªµÄÓйØÇé¿ö ........................................................................................ 36
10.8 ÆäËûÖØ´óʼþ .................................................................................................................................... 38
¡ì11 Ó°ÏìͶ×ÊÕß¾ö²ßµÄÆäËûÖØÒªÐÅÏ¢ ............................................................................................................ 39
¡ì12 ±¸²éÎļþĿ¼ ............................................................................................................................................ 40
12.1 ±¸²éÎļþÃû³Æ .................................................................................................................................... 40
12.2 ±¸²éÎļþ´æ·ÅµØµã ............................................................................................................................ 40
12.3 ±¸²éÎļþ²éÔÄ·½Ê½ ............................................................................................................................ 40
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
4
¡ì2 »ù½ð¼ò½é
2.1 »ù½ð»ù±¾Çé¿ö
»ù½ðÃû³Æ ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)
»ù½ð¼ò³Æ ÐųÏÉî¶È¼ÛÖµ»ìºÏ(LOF)
³¡ÄÚ¼ò³Æ ÐųÏÉî¶È
»ù½ðÖ÷´úÂë 165508
»ù½ðÔË×÷·½Ê½ ÆõÔ¼ÐÍ¡¢ÉÏÊпª·Åʽ
»ù½ðºÏͬÉúЧÈÕ 2010Äê 7Ô 30ÈÕ
»ù½ð¹ÜÀíÈË Ðųϻù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË Öйú½¨ÉèÒøÐйɷÝÓÐÏÞ¹«Ë¾
±¨¸æÆÚÄ©»ù½ð·Ý¶î×ܶî 41,424,300.20·Ý
»ù½ðºÏͬ´æÐøÆÚ ²»¶¨ÆÚ
»ù½ð·Ý¶îÉÏÊеÄ֤ȯ½»Ò×Ëù(ÈôÓÐ) ÉîÛÚ֤ȯ½»Ò×Ëù
ÉÏÊÐÈÕÆÚ(ÈôÓÐ) 2010Äê 9ÔÂ 20ÈÕ
2.2 »ù½ð²úƷ˵Ã÷
Ͷ×ÊÄ¿±ê
ͨ¹ý¶Ô¹«Ë¾»ù±¾ÃæµÄÑо¿,ÉîÈëÆÊÎö¹ÉƱ¼ÛÖµ±»µÍ¹ÀµÄÔÒò,
´Ó¶øÍÚ¾ò¾ßÓÐÉî¶È¼ÛÖµµÄ¹ÉƱ,ÒÔÁ¦Õù»ñÈ¡×ʱ¾µÄ³¤ÆÚÔöÖµ¡£
Ͷ×ʲßÂÔ
±¾»ù½ð¶¨Î»Îª»ìºÏÐÍ»ù½ð,ÆäÕ½ÂÔÐÔ×ʲúÅäÖÃÒÔ¹ÉƱΪÖ÷,²¢
²»ÒòÊг¡µÄÖжÌÆڱ仯¶ø¸Ä±ä¡£±¾»ù½ðµÄºËÐÄÀíÄîÊǼÛֵͶ
×Ê,¼´Í¶×ÊÓÚÊг¡¼Û¸ñµÍÓÚÆäÄÚÔÚ¼ÛÖµµÄ¹ÉƱ¡£±¾»ù½ðµÄ¸ö¹É
Ñ¡ÔñÒÔ¡°×Ô϶øÉÏ¡±ÎªÖ÷,µ«Í¬Ê±Ò²½«½áºÏÐÐÒµÑо¿·ÖÎö¸¨
ÒÔ¡°×ÔÉ϶øÏ¡±µÄÐÐÒµÅäÖá£ÔÚ²»Í¬µÄÊг¡Ìõ¼þÏÂ,±¾»ù½ðÔÊ
ÐíÔÚÒ»¶¨µÄ·¶Î§ÄÚ×÷Õ½ÊõÐÔ×ʲúÅäÖõ÷Õû,ÒÔ¹æ±ÜÊг¡·çÏÕ¡£
Òµ¼¨±È½Ï»ù×¼ ÉÏÖ¤ 180Ö¸ÊýÊÕÒæÂÊ*80%+ÖÐÖ¤×ÛºÏÕ®Ö¸ÊýÊÕÒæÂÊ*20%
·çÏÕÊÕÒæÌØÕ÷
±¾»ù½ðΪÖ÷¶¯Í¶×ʵĻìºÏÐÍ»ù½ð,Ô¤ÆÚ·çÏÕÓëÊÕÒæ¸ßÓÚծȯ
ÐÍ»ù½ðÓë»õ±ÒÊг¡»ù½ð,µÍÓÚ¹ÉƱÐÍ»ù½ð,ÊôÓÚ֤ȯͶ×Ê»ù½ð
ÖеĽϸ߷çÏÕ¡¢½Ï¸ßÊÕÒæÆ·ÖÖ¡£
2.3 »ù½ð¹ÜÀíÈ˺ͻù½ðÍйÜÈË
ÏîÄ¿ »ù½ð¹ÜÀíÈË »ù½ðÍйÜÈË
Ãû³Æ Ðųϻù½ð¹ÜÀíÓÐÏÞ¹«Ë¾ Öйú½¨ÉèÒøÐйɷÝÓÐÏÞ¹«Ë¾
ÐÅÏ¢Åû¶¸ºÔð
ÈË
ÐÕÃû ÖÜºÆ ÌïÇà
ÁªÏµµç»° 021-68649788 010-67595096
µç×ÓÓÊÏä hao.zhou@xcfunds.com tianqing1.zh@ccb.com
¿Í»§·þÎñµç»° 400-666-0066 010-67595096
´«Õæ 021-50120888 010-66275853
×¢²áµØÖ·
Öйú£¨ÉϺ££©×ÔÓÉóÒ×ÊÔÑéÇøÊÀ
¼Í´óµÀ 8 ºÅÉϺ£¹ú½ðÖÐÐÄ»ã·áÒø
ÐдóÂ¥ 9²ã
±±¾©ÊÐÎ÷³ÇÇø½ðÈÚ´ó½Ö 25ºÅ
°ì¹«µØÖ·
Öйú£¨ÉϺ££©×ÔÓÉóÒ×ÊÔÑéÇøÊÀ
¼Í´óµÀ 8 ºÅÉϺ£¹ú½ðÖÐÐÄ»ã·áÒø
±±¾©ÊÐÎ÷³ÇÇøÄÖÊпڴó½Ö 1 ºÅÔº
1ºÅÂ¥
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
5
ÐдóÂ¥ 9²ã
ÓÊÕþ±àÂë 200120 100033
·¨¶¨´ú±íÈË ÕÅÏèÑà ÍõºéÕÂ
2.4 ÐÅÏ¢Åû¶·½Ê½
±¾»ù½ðÑ¡¶¨µÄÐÅÏ¢Åû¶±¨Ö½Ãû³Æ ÉϺ£Ö¤È¯±¨¡¢Öйú֤ȯ±¨¡¢Ö¤È¯Ê±±¨
µÇÔØ»ù½ð°ëÄê¶È±¨¸æÕýÎĵĹÜÀíÈË»¥ÁªÍøÍøÖ· www.xcfunds.com
»ù½ð°ëÄê¶È±¨¸æ±¸Öõص㠻ù½ð¹ÜÀíÈ˼°»ù½ðÍйÜÈËסËù
2.5 ÆäËûÏà¹Ø×ÊÁÏ
ÏîÄ¿ Ãû³Æ °ì¹«µØÖ·
×¢²áµÇ¼Ç»ú¹¹ Öйú֤ȯµÇ¼Ç½áËãÓÐÏÞÔðÈι«
˾
±±¾©ÊÐÎ÷³ÇÇø̫ƽÇÅ´ó½Ö 17ºÅ
ÏîÄ¿ Ãû³Æ °ì¹«µØÖ·
»á¼ÆʦÊÂÎñËù
±ÏÂíÍþ»ªÕñ»á¼ÆʦÊÂÎñËù(ÌØÊâ
ÆÕͨºÏ»ï)
±±¾©Êж«³¤°²½Ö 1 ºÅ¶«·½¹ã³¡¶«
¶þ°ì¹«Â¥°Ë²ã
¡ì3 Ö÷Òª²ÆÎñÖ¸±êºÍ»ù½ð¾»Öµ±íÏÖ
3.1 Ö÷Òª»á¼ÆÊý¾ÝºÍ²ÆÎñÖ¸±ê
½ð¶îµ¥Î»£ºÈËÃñ±ÒÔª
3.1.1 ÆÚ¼äÊý¾ÝºÍÖ¸±ê ±¨¸æÆÚ(2017Äê 1Ô 1ÈÕÖÁ 2017Äê 6Ô 30ÈÕ)
±¾ÆÚÒÑʵÏÖÊÕÒæ -1,544,329.02
±¾ÆÚÀûÈó 2,320,428.81
¼ÓȨƽ¾ù»ù½ð·Ý¶î±¾ÆÚÀûÈó 0.0540
±¾ÆÚ¼ÓȨƽ¾ù¾»ÖµÀûÈóÂÊ 3.10%
±¾ÆÚ»ù½ð·Ý¶î¾»ÖµÔö³¤ÂÊ 3.14%
3.1.2 ÆÚÄ©Êý¾ÝºÍÖ¸±ê ±¨¸æÆÚÄ©(2017Äê 6Ô 30ÈÕ)
ÆÚÄ©¿É¹©·ÖÅäÀûÈó 31,975,722.26
ÆÚÄ©¿É¹©·ÖÅä»ù½ð·Ý¶îÀûÈó 0.7719
ÆÚÄ©»ù½ð×ʲú¾»Öµ 73,400,022.46
ÆÚÄ©»ù½ð·Ý¶î¾»Öµ 1.772
3.1.3 ÀÛ¼ÆÆÚÄ©Ö¸±ê ±¨¸æÆÚÄ©(2017Äê 6Ô 30ÈÕ)
»ù½ð·Ý¶îÀۼƾ»ÖµÔö³¤ÂÊ 77.20%
×¢£º1¡¢ÉÏÊö»ù½ðÒµ¼¨Ö¸±ê²»°üÀ¨³ÖÓÐÈËÈϹº»ò½»Ò×»ù½ðµÄ¸÷Ïî·ÑÓÃ,¼ÆÈë·ÑÓúóʵ¼ÊÊÕÒæˮƽҪµÍ
ÓÚËùÁÐÊý×Ö¡£
2¡¢±¾ÆÚÒÑʵÏÖÊÕÒæÖ¸»ù½ð±¾ÆÚÀûÏ¢ÊÕÈ롢Ͷ×ÊÊÕÒæ¡¢ÆäËûÊÕÈë(²»º¬¹«ÔʼÛÖµ±ä¶¯ÊÕÒæ)¿Û³ýÏà¹Ø·Ñ
ÓúóµÄÓà¶î,±¾ÆÚÀûÈóΪ±¾ÆÚÒÑʵÏÖÊÕÒæ¼ÓÉϱ¾ÆÚ¹«ÔʼÛÖµ±ä¶¯ÊÕÒæ¡£
3¡¢ÆÚÄ©¿É¹©·ÖÅäÀûÈó,²ÉÓÃÆÚÄ©×ʲú¸ºÕ®±íÖÐδ·ÖÅäÀûÈóÓëδ·ÖÅäÀûÈóÖÐÒÑʵÏÖ²¿·ÖµÄÊëµÍÊý¡£
3.2 »ù½ð¾»Öµ±íÏÖ
3.2.1 »ù½ð·Ý¶î¾»ÖµÔö³¤Âʼ°ÆäÓëͬÆÚÒµ¼¨±È½Ï»ù×¼ÊÕÒæÂʵıȽÏ
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
6
½×¶Î
·Ý¶î¾»Öµ
Ôö³¤ÂÊ¢Ù
·Ý¶î¾»ÖµÔö³¤
Âʱê×¼²î¢Ú
Òµ¼¨±È½Ï»ù
×¼ÊÕÒæÂÊ¢Û
Òµ¼¨±È½Ï»ù
×¼ÊÕÒæÂʱê
×¼²î¢Ü
¢Ù£¢Û ¢Ú£¢Ü
¹ýÈ¥Ò»¸öÔ 4.36% 0.71% 2.89% 0.51% 1.47% 0.20%
¹ýÈ¥Èý¸öÔ 0.62% 0.68% 4.41% 0.48% -3.79% 0.20%
¹ýÈ¥Áù¸öÔ 3.14% 0.62% 7.47% 0.44% -4.33% 0.18%
¹ýÈ¥Ò»Äê 4.98% 0.74% 13.84% 0.52% -8.86% 0.22%
¹ýÈ¥ÈýÄê 62.87% 2.28% 57.69% 1.41% 5.18% 0.87%
×Ô»ù½ðºÏͬ
ÉúЧÆðÖÁ½ñ
77.20% 1.78% 31.85% 1.23% 45.35% 0.55%
3.2.2 ×Ô»ù½ðºÏͬÉúЧÒÔÀ´»ù½ð·Ý¶îÀۼƾ»ÖµÔö³¤Âʱ䶯¼°ÆäÓëͬÆÚÒµ¼¨±È½Ï»ù×¼ÊÕÒæÂʱ䶯µÄ±È½Ï
×¢: 1¡¢±¾»ù½ð½¨²ÖÆÚ×Ô 2010Äê 7Ô 30ÈÕÖÁ 2011Äê 1Ô 29ÈÕ,½¨²ÖÆÚ½áÊøʱ×ʲúÅäÖñÈÀý·ûºÏ±¾
»ù½ð»ù½ðºÏͬ¹æ¶¨¡£
2¡¢×Ô 2015Äê 10Ô 1ÈÕÆð,±¾»ù½ðµÄÒµ¼¨±È½Ï»ù×¼ÓÉ¡°ÉÏÖ¤ 180Ö¸ÊýÊÕÒæÂÊ*80%+ÖÐÐűêÆÕÈ«Õ®
Ö¸ÊýÊÕÒæÂÊ*20%¡±±ä¸üΪ¡°ÉÏÖ¤ 180Ö¸ÊýÊÕÒæÂÊ*80%+ÖÐÖ¤×ÛºÏÕ®Ö¸ÊýÊÕÒæÂÊ*20%¡±¡£
3.3 ÆäËûÖ¸±ê
¡ì4 ¹ÜÀíÈ˱¨¸æ
4.1 »ù½ð¹ÜÀíÈ˼°»ù½ð¾ÀíÇé¿ö
4.1.1 »ù½ð¹ÜÀíÈ˼°Æä¹ÜÀí»ù½ðµÄ¾Ñé
±¾»ù½ð¹ÜÀíÈËÐųϻù½ð¹ÜÀíÓÐÏÞ¹«Ë¾¾ÖйúÖ¤¼à»áÅú×¼,ÓÚ 2005Äê 9Ô 30ÈÕÕýʽ³ÉÁ¢,×¢²á×ʱ¾ 2
ÒÚÔª,×¢²áµØΪÉϺ£¡£¹«Ë¾¹É¶«ÎªÖÐÐÅÐÅÍÐÓÐÏÞÔðÈι«Ë¾¡¢Ó¢¹ú±£³Ï¼¯ÍŹɷÝÓÐÏÞ¹«Ë¾ºÍÖÐÐÂËÕÖݹ¤Òµ
Ô°Çø´´ÒµÍ¶×ÊÓÐÏÞ¹«Ë¾,¸÷¹É¶«³ö×ʱÈÀý·Ö±ðΪ 49%¡¢49%¡¢2%¡£½ØÖÁ 2017 Äê 6 Ô 30 ÈÕ,±¾»ù½ð¹ÜÀíÈË
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
7
¹²¹ÜÀí 70 Ö»»ù½ð, ·Ö±ðΪÐųÏËļ¾ºì»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųϾ«Ýͳɳ¤»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏ
Ê¢ÊÀÀ¶³ï»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÈýµÃÒæծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųϾµäÓÅծծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢
ÐųÏÓÅʤ¾«Ñ¡»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÐСÅÌ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù
½ð(LOF)¡¢ÐųÏÔöÇ¿ÊÕÒæծȯÐÍ֤ȯͶ×Ê»ù½ð(LOF)¡¢ÐųϽðשËĹú»ý¼«ÅäÖÃ֤ȯͶ×Ê»ù½ð(LOF)¡¢ÐųÏ
ÖÐÖ¤ 500Ö¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢Ðųϻõ±ÒÊг¡Ö¤È¯Í¶×Ê»ù½ð¡¢ÐųÏлúÓö»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)¡¢
ÐųÏÈ«ÇòÉÌÆ·Ö÷Ìâ֤ȯͶ×Ê»ù½ð(LOF)¡¢Ðųϻ¦Éî 300 Ö¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢ÐųÏ˫ӯծȯÐÍ֤ȯͶ
×Ê»ù½ð(LOF)¡¢ÐųÏÖÜÆÚÂÖ¶¯»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)¡¢ÐųÏÀí²Æ 7ÈÕӯծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÌí
½ð·Ö¼¶Õ®È¯ÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÓÅÖÊ´¿Õ®Õ®È¯ÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÐÂË«Ó¯·Ö¼¶Õ®È¯ÐÍ֤ȯͶ×Ê»ù½ð¡¢
ÐųÏÐÂÐ˲úÒµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÐÖ¤ 800Ò½Ò©Ö¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢ÐųÏÖÐÖ¤ 800ÓÐÉ«Ö¸Êý
·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢Ðųϼ¾¼¾¶¨ÆÚÖ§¸¶Õ®È¯ÐÔ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÄêÄêÓÐÓඨÆÚ¿ª·ÅծȯÐÍ֤ȯͶ×Ê»ù
½ð¡¢ÐųÏÖÐÖ¤ 800½ðÈÚÖ¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢ÐųÏÔÂÔ¶¨ÆÚÖ§¸¶Õ®È¯ÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÐÒ¸£Ïû·Ñ
»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏн½ð±¦»õ±ÒÊг¡»ù½ð¡¢ÐųÏÖÐÖ¤ TMT²úÒµÖ÷ÌâÖ¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢ÐųÏ
ÐÂÑ¡»Ø±¨Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÐÂÈñ»Ø±¨Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÐÂöλر¨Áé
»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÐÂÍú»Ø±¨Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)¡¢ÐųÏÖÐÖ¤ÐÅÏ¢°²È«Ö¸
Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢ÐųÏÖÐÖ¤ÖÇÄܼҾÓÖ¸Êý·Ö¼¶Ö¤È¯Í¶×Ê»ù½ð¡¢¡¢ÐųÏÖÐÖ¤»ù½¨¹¤³ÌÖ¸ÊýÐÍ֤ȯͶ×Ê
»ù½ð(LOF)¡¢Ðųϻݱ¨Õ®È¯ÐÍ֤ȯͶ×Ê»ù½ð¡¢Ðų϶¦Àû¶¨ÔöÁé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎÈÀûÕ®
ȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųϻÝӯծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎȽ¡Õ®È¯ÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁÀûÁé»îÅäÖÃ
»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁÒæÁé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųϻÝÔóծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎÈ
ÈðծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎÈÒæծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁÓÅÁé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏ
ÖÁÔ£Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁöÎÁé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁÈðÁé»îÅäÖûìºÏÐÍ
֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁÑ¡Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųϾ°ÈðծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÐÂÔûر¨
Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖ÷ÌâÂÖ¶¯Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎÈ·áծȯÐÍ֤ȯͶ×Ê
»ù½ð¡¢ÐųÏÓÀÒæÒ»Ä궨ÆÚ¿ª·Å»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎÈÔÃծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎÈ̩ծȯÐÍÖ¤
ȯͶ×Ê»ù½ð¡¢ÐųÏÓÀöÎÒ»Ä궨ÆÚ¿ª·Å»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÓÀÀûÒ»Ä궨ÆÚ¿ª·Å»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢
ÐųÏÓÀ·áÒ»Ä궨ÆÚ¿ª·Å»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÎÈöÎծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁ³ÏÁé»îÅäÖûìºÏÐÍ
֤ȯͶ×Ê»ù½ð¡¢ÐųÏÀí²Æ 28 ÈÕӯծȯÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁÌ©Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏ
¶à²ßÂÔÁé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÐÂÔó»Ø±¨Áé»îÅäÖûìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢ÐųÏÖÁÐÅÁé»îÅäÖÃ
»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡£
4.1.2 »ù½ð¾Àí£¨»ò»ù½ð¾ÀíС×飩¼°»ù½ð¾ÀíÖúÀí¼ò½é
ÐÕÃû Ö°Îñ
Èα¾»ù½ðµÄ»ù½ð¾Àí£¨ÖúÀí£©ÆÚÏÞ Ö¤È¯´Ó
ÒµÄêÏÞ
˵Ã÷
ÈÎÖ°ÈÕÆÚ ÀëÈÎÈÕÆÚ
֣ΰ
±¾»ù½ð»ù½ð
¾Àí ,ÐųÏ
ÐÂÐ˲úÒµ»ì
ºÏ»ù½ð¡¢ÐÅ
³ÏÖÐСÅÌ»ì
ºÏ»ù½ð»ù½ð
¾Àí
2015Äê 5ÔÂ 29ÈÕ - 11
¾¼Ãѧ˶ʿ¡£ÔøÈÎÖ°
ÓÚ»ªÌ©×ʲú¹ÜÀíÓÐÏÞ
¹«Ë¾£¬µ£ÈÎÑо¿Ô±¡£
2009Äê 8Ô¼ÓÈëÐųÏ
»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾£¬
ÀúÈÎÑо¿Ô±¡¢×¨»§Í¶
×ʾÀí¡£ÏÖÈÎÐųÏÉî
¶È ¼Û Öµ »ì ºÏ »ù ½ð
(LOF)¡¢ÐųÏÐÂÐ˲úÒµ
»ìºÏ»ù½ðºÍÐųÏÖÐС
ÅÌ»ìºÏ»ù½ð»ù½ð¾
Àí¡£
×¢:1.ÉÏÊöÈÎÖ°ÈÕÆÚ¡¢ÀëÈÎÈÕÆÚ¸ù¾Ý±¾»ù½ð¹ÜÀíÈ˶ÔÍâÅû¶µÄÈÎÃâÈÕÆÚÌîд¡£
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
8
2.֤ȯ´ÓÒµµÄº¬Òå×ñ´ÓÐÐҵлᡶ֤ȯҵ´ÓÒµÈËÔ±×ʸñ¹ÜÀí°ì·¨¡·µÄÏà¹Ø¹æ¶¨¡£
4.2 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ±¾»ù½ðÔË×÷×ñ¹æÊØÐÅÇé¿öµÄ˵Ã÷
ÔÚ±¾±¨¸æÆÚÄÚ,±¾»ù½ð¹ÜÀíÈËÑϸñ°´ÕÕ¡¶Ö¤È¯Í¶×Ê»ù½ð·¨¡·ºÍÆäËûÏà¹Ø·¨ÂÉ·¨¹æµÄ¹æ¶¨ÒÔ¼°¡¶ÐųÏ
Éî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)»ù½ðºÏͬ¡·¡¢¡¶ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)ÕÐļ˵Ã÷Êé¡·
µÄÔ¼¶¨,±¾×ųÏʵÐÅÓá¢ÇÚÃ㾡ְµÄÔÔò¹ÜÀíºÍÔËÓûù½ð²Æ²ú¡£±¾»ù½ð¹ÜÀíÈËͨ¹ý²»¶ÏÍêÉÆ·¨ÈËÖÎÀí½á
¹¹ºÍÄÚ²¿¿ØÖÆÖƶÈ,¼ÓÇ¿ÄÚ²¿¹ÜÀí,¹æ·¶»ù½ðÔË×÷¡£±¾±¨¸æÆÚÄÚ,»ù½ðÔË×÷ºÏ·¨ºÏ¹æ,ûÓз¢ÉúË𺦻ù½ð·Ý
¶î³ÖÓÐÈËÀûÒæµÄÐÐΪ¡£
4.3 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ¹«Æ½½»Ò×Çé¿öµÄרÏî˵Ã÷
4.3.1 ¹«Æ½½»Ò×ÖƶȵÄÖ´ÐÐÇé¿ö
¸ù¾ÝÖйúÖ¤¼à»á°ä²¼µÄ¡¶Ö¤È¯Í¶×Ê»ù½ð¹ÜÀí¹«Ë¾¹«Æ½½»Ò×ÖƶÈÖ¸µ¼Òâ¼û¡·,ÒÔ¼°¹«Ë¾ÄⶨµÄ¡¶ÐųÏ
»ù½ð¹«Æ½½»Ò×¹ÜÀíÖƶȡ·,¹«Ë¾²ÉÈ¡ÁËһϵÁеÄÐж¯Êµ¼ÊÂäʵ¹«Æ½½»Ò×¹ÜÀíµÄ¸÷ÏîÒªÇ󡣸÷²¿ÃÅÔÚ¹«Æ½
½»Ò×Ö´ÐÐÖи÷˾ÆäÖ°,Ͷ×ÊÑо¿Ç°¶Ë²»¶ÏÍêÉÆÑо¿·½·¨ºÍͶ×ʾö²ßÁ÷³Ì,È·±£¸÷Ͷ×Ê×éºÏÏíÓй«Æ½µÄͶ
×ʾö²ß»ú»á,½¨Á¢¹«Æ½½»Ò×µÄÖƶȻ·¾³;½»Ò×»·½Ú¼ÓÇ¿½»Ò×Ö´ÐеÄÄÚ²¿¿ØÖÆ,ÀûÓúãÉú½»Ò×ϵͳ¹«Æ½½»Ò×
Ïà¹Ø³ÌÐò,¼°ÆäËüµÄÁ÷³Ì¿ØÖÆ,È·±£²»Í¬»ù½ðÔÚÒ»¡¢¶þ¼¶Êг¡¶Ôͬһ֤ȯ½»Ò×ʱµÄ¹«Æ½;¹«Ë¾Í¬Ê±²»¶ÏÍê
Éƺ͸Ľø¹«Æ½½»Ò×·ÖÎöϵͳ,ÔÚʺó¼ÓÒÔÁËÑϸñµÄÐÐΪ¼à¿Ø,·ÖÎöÆÀ¹ÀÒÔ¼°±¨¸æÓëÐÅÏ¢Åû¶¡£µ±ÆÚ¹«Ë¾Õû
Ì幫ƽ½»Ò×ÖƶÈÖ´ÐÐÇé¿öÁ¼ºÃ,δ·¢ÏÖÓÐÎ¥±³¹«Æ½½»Ò×µÄÏà¹ØÇé¿ö¡£
4.3.2 Òì³£½»Ò×ÐÐΪµÄרÏî˵Ã÷
±¾±¨¸æÆÚÄÚ,δ·¢ÏÖ±¾»ù½ðÓëÆäËüͶ×Ê×éºÏÖ®¼äÓпÉÄܵ¼Ö²»¹«Æ½½»Ò׺ÍÀûÒæÊäË͵ÄÒì³£½»Òס£±¨
¸æÆÚÄÚ,δ³öÏÖ²ÎÓë½»Ò×Ëù¹«¿ª¾º¼ÛͬÈÕ·´Ïò½»Ò׳ɽ»½ÏÉٵĵ¥±ß½»Ò×Á¿³¬¹ý¸Ã֤ȯµ±Èճɽ»Á¿ 5%µÄ
½»Ò×(ÍêÈ«¸´ÖƵÄÖ¸Êý»ù½ð³ýÍâ)¡£
4.4 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ðµÄͶ×ʲßÂÔºÍÒµ¼¨±íÏÖµÄ˵Ã÷
4.4.1 ±¨¸æÆÚÄÚ»ù½ðͶ×ʲßÂÔºÍÔË×÷·ÖÎö
2017ÄêÉÏ°ëÄê×ʱ¾Êг¡ÆðÆð·ü·ü¡¢²¨¶¯ºÜ´ó,ÉÏÖ¤Ö¸Êý»ù±¾³Öƽ,ÖÐС°åÖ¸ÂÔ΢ÉÏÕÇ,´´Òµ°åÖ¸ÊýÏÂ
µø½Ï¶à¡£Äê³õÊг¡³ÊÏÖÉÏÕÇ,4 ÔÂÖÐÑ®Êг¡¿ìËÙϵø,5 ÔÂÖÐÑ®½áÊøµ÷Õû»ØÉý¡£Äê³õÒÔÀ´¾¼ÃÔö³¤³¬³öÔ¤
ÆÚ,¸÷Ïî¾¼ÃÖ¸±êÈ«ÃæÏòºÃ,¾¼Ã»·¾³Ïà¶ÔÓÐÀû¡£½ðÈÚ¼à¹ÜºÍ½ðÈÚÈ¥¸Ü¸Ë´øÀ´ÁËÒ»¶¨µÄÔ¤ÆÚ²»Îȶ¨,Ôì³É
ÁËͶ×ÊÕß·çÏÕÆ«ºÃϽµ¡£¶ø½ðÈÚ¹¤×÷»áÒéµÄ¶¨µ÷,ÓÐÀûÓÚе÷½ðÈÚ¼à¹Ü¡¢Îȶ¨Êг¡Ô¤ÆÚ¡£
Äê³õÎÒÃÇ»ùÓÚ¿´ºÃ¹ú¸ÄºÍ¾¼ÃµÄ½Ç¶È,ÅäÖÃÁË»úе¡¢¾ü¹¤µÈÐÐÒµ,µ«ºóÐøÊг¡±íÏÖ²»¼Ñ,¶Ô»ù½ð¾»Öµ´ø
À´ÁËһЩËðʧ¡£ËæºóÎÒÃǵ÷ÕûÁË×éºÏ,»ý¼«ÅäÖôóÏû·Ñ¡¢ÐÂÄÜÔ´µÈÐÐÒµ¡£
4.4.2 ±¨¸æÆÚÄÚ»ù½ðÒµ¼¨±íÏÖ
±¾±¨¸æÆÚÄÚ,±¾»ù½ð·Ý¶î¾»ÖµÔö³¤ÂÊΪ 3.14%,ͬÆÚÒµ¼¨±È½Ï»ù×¼ÊÕÒæÂÊΪ 7.47%,»ù½ðÂäºóÒµ¼¨±È
½Ï»ù×¼ 4.33%¡£
4.5 ¹ÜÀíÈ˶Ժê¹Û¾¼Ã¡¢Ö¤È¯Êг¡¼°ÐÐÒµ×ßÊƵļòÒªÕ¹Íû
Ï°ëÄêÀ´¿´,¾¼ÃÏòºÃµÄÇ÷ÊƲ»¸Ä,Èý¼¾¶È½øÈëͶ×ÊÍú¼¾,Ͷ×ÊÆ·ÐèÇóÇ¿ÊƵĸñ¾ÖÈÔ½«³ÖÐø¡£ÈËÃñ±Ò
³ÖÐøÉýÖµ±£³ÖÎȶ¨,È«Çò¾¼Ã¸´ËÕÃ÷ÏÔ¡£»õ±ÒÕþ²ßÇ÷ÓÚÎȶ¨Ô¤ÆÚ,Á÷¶¯ÐÔ»·¾³½ÏºÃ¡£´Ó¹úÄÚ¹úÍâµÄ»·¾³À´
¿´,×ÜÌåÉ϶Ô×ʱ¾Êг¡ÓÐÀûµÄÒòËؽ϶ࡣÎÒÃǶÔÊг¡±£³Ö½÷É÷ÀÖ¹ÛµÄ̬¶È¡£
ÎÒÃǽ«»ý¼«µ÷Õû×éºÏ,Ñ°ÕÒÕæÕý³É³¤ÐÔµÄÐÐÒµºÍÓÅÖʹ«Ë¾,»ý¼«Ñ°ÕÒ´óÏû·Ñ¡¢ÐÂÄÜÔ´¡¢TMT¡¢¸ß¶Ë×°±¸
µÈÐÐÒµµÄÓÅÖʹ«Ë¾,´Ó¹«Ë¾Òµ¼¨Ôö³¤ºÍ¹ÀֵƥÅä³ö·¢,ÅäÖÃÓÅÖʹ«Ë¾,Á¦ÕùΪ³ÖÓÐÈË´´ÔìÊÕÒæ¡£
4.6 ¹ÜÀíÈ˶Ա¨¸æÆÚÄÚ»ù½ð¹ÀÖµ³ÌÐòµÈÊÂÏîµÄ˵Ã÷
1.»ù½ð¹ÀÖµ³ÌÐò
ΪÁËÏò»ù½ðͶ×ÊÈËÌṩ¸üºÃµÄ֤ȯͶ×ʹÜÀí·þÎñ,±¾»ù½ð¹ÜÀíÈ˶ԹÀÖµºÍ¶¨¼Û¹ý³Ì½øÐÐÁË×îÑϸñµÄ¿Ø
ÖÆ¡£±¾»ù½ð¹ÜÀíÈËͨ¹ý¹ÀÖµ¾ö²ßίԱ»áÀ´¸üÓÐЧµÄÍêÉƹÀÖµ·þÎñ¡£¹ÀÖµ¾ö²ßίԱ»á°üÀ¨ÏÂÁгÉÔ±: ·Ö¹Ü
»ù½ðÔËÓªÒµÎñµÄÁìµ¼(ίԱ»áÖ÷ϯ)¡¢·çÏÕ¹ÜÀí²¿¸ºÔðÈË¡¢¹ÉƱͶ×ʸºÔðÈË¡¢Õ®È¯Í¶×ʸºÔðÈË¡¢½»Òײ¿¸º
ÔðÈË¡¢ÔËÓª²¿¸ºÔðÈË¡¢»ù½ð»á¼ÆÖ÷¹Ü(ίԱ»áÃØÊé)¡£±¾»ù½ð¹ÜÀíÈËÔÚ³ä·ÖºâÁ¿Êг¡·çÏÕ¡¢ÐÅÓ÷çÏÕ¡¢Á÷
¶¯ÐÔ·çÏÕ¡¢»õ±Ò·çÏÕ¡¢ÑÜÉú¹¤¾ßºÍ½á¹¹ÐÔ²úÆ·µÈÓ°Ïì¹ÀÖµºÍ¶¨¼ÛÒòËصĻù´¡ÉÏ,×ÛºÏÔËÓª²¿¡¢»üºË²¿¡¢
ÐųÏÉî¶È¼ÛÖµ»ìºÏÐÍ֤ȯͶ×Ê»ù½ð(LOF)2017 Äê°ëÄê¶È±¨¸æ
9
Ͷ×ʲ¿¡¢·ç¿Ø²¿ºÍÆäËüÏà¹Ø²¿ÃŵÄÒâ¼û,È·¶¨±¾»ù½ð¹ÜÀíÈ˲ÉÓõĹÀÖµÕþ²ß¡£
¹ÀÖµÕþ²ßºÍ³ÌÐòµÄÈ·Á¢ºÍÐÞ¶©Ðë¾±¾»ù½ð¹ÜÀíÈË×ܾÀíÅú×¼ºó·½¿ÉʵÐС£»ù½ðÔÚ²ÉÓÃÐÂͶ×ʲßÂÔ»òͶ×Ê
ÐÂÆ·ÖÖʱ,Ó¦ÆÀ¼ÛÏÖÓйÀÖµÕþ²ßºÍ³ÌÐòµÄÊÊÓÃÐÔ,²¢ÔÚ²»ÊÊÓõÄÇé¿öÏÂ,¼°Ê±ÕÙ¿ª¹ÀÖµ¾ö²ßίԱ»á¡£
ÔÚÿ¸ö¹ÀÖµÈÕ,±¾»ù½ð¹ÜÀíÈ˵ÄÔËÓª²¿Ê¹ÓùÀÖµÕþ²ßÈ·¶¨µÄ¹ÀÖµ·½·¨,È·¶¨Ö¤È¯Í¶×Ê»ù½ðµÄ·Ý¶î¾»Öµ¡£
»ù½ð¹ÜÀíÈ˶Իù½ð×ʲú½øÐйÀÖµºó,½«»ù½ð·Ý¶î¾»Öµ½á¹û·¢ËÍ»ù½ðÍ