Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð
¸üÐÂÕÐļ˵Ã÷Êé
£¨2020ÄêµÚ4ºÅ£©
»ù½ð¹ÜÀíÈË£ºÒø»ª»ù½ð¹ÜÀí¹É·ÝÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË£ºÖйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾
ÖØÒªÌáʾ
±¾»ù½ð¾Öйú֤ȯ¼à¶½¹ÜÀíίԱ»á£¨ÒÔϼò³Æ¡°ÖйúÖ¤¼à»á¡±£©ÓÚ2018Äê
8ÔÂ1ÈÕÖ¤¼àÐí¿É¡¾2018¡¿1209ºÅÎÄ×¼Óèļ¼¯×¢²á¡£
±¾»ù½ðºÏͬÉúЧÈÕΪ2019Äê3ÔÂ19ÈÕ¡£
»ù½ð¹ÜÀíÈ˱£Ö¤±¾ÕÐļ˵Ã÷ÊéµÄÄÚÈÝÕæʵ¡¢×¼È·¡¢ÍêÕû¡£±¾ÕÐļ˵Ã÷Êé¾ÖÐ
¹úÖ¤¼à»á×¢²á£¬µ«ÖйúÖ¤¼à»á¶Ô±¾»ù½ðļ¼¯µÄ×¢²á£¬²¢²»±íÃ÷Æä¶Ô±¾»ù½ðµÄ·çÏÕ
ºÍÊÕÒæ×÷³öʵÖÊÐÔÅжϻò±£Ö¤£¬Ò²²»±íÃ÷Ͷ×ÊÓÚ±¾»ù½ðûÓзçÏÕ¡£ÖйúÖ¤¼à»á²»
¶Ô»ù½ðµÄͶ×ʼÛÖµ¼°Êг¡Ç°¾°µÈ×÷³öʵÖÊÐÔÅжϻòÕß±£Ö¤¡£
֤ȯͶ×Ê»ù½ð£¨ÒÔϼò³Æ¡°»ù½ð¡±£©ÊÇÒ»ÖÖ³¤ÆÚͶ×ʹ¤¾ß£¬ÆäÖ÷Òª¹¦ÄÜÊÇ·Ö
ɢͶ×Ê£¬½µµÍͶ×ʵ¥Ò»Ö¤È¯Ëù´øÀ´µÄ¸ö±ð·çÏÕ¡£»ù½ð²»Í¬ÓÚÒøÐд¢ÐîºÍծȯµÈÄÜ
¹»Ìṩ¹Ì¶¨ÊÕÒæÔ¤ÆڵĽðÈÚ¹¤¾ß£¬Í¶×ÊÈ˹ºÂò»ù½ð£¬¼È¿ÉÄÜ°´Æä³ÖÓзݶî·ÖÏí»ù
½ðͶ×ÊËù²úÉúµÄÊÕÒ棬Ҳ¿ÉÄܳе£»ù½ðͶ×ÊËù´øÀ´µÄËðʧ¡£
»ù½ð·ÖΪ¹ÉƱÐÍ֤ȯͶ×Ê»ù½ð¡¢»ìºÏÐÍ֤ȯͶ×Ê»ù½ð¡¢Õ®È¯ÐÍ֤ȯͶ×Ê»ù½ð¡¢
»õ±ÒÊг¡»ù½ðµÈ²»Í¬ÀàÐÍ£¬Í¶×ÊÈËͶ×ʲ»Í¬ÀàÐ͵Ļù½ð½«»ñµÃ²»Í¬µÄÊÕÒæÔ¤ÆÚ£¬
Ò²½«³Ðµ£²»Í¬³Ì¶ÈµÄ·çÏÕ¡£Ò»°ãÀ´Ëµ£¬»ù½ðµÄÊÕÒæÔ¤ÆÚÔ½¸ß£¬Í¶×ÊÈ˳е£µÄÊÕÒæ
·çÏÕÒ²Ô½´ó¡£±¾»ù½ðÊô¹ÉƱÐÍ»ù½ð£¬Ô¤ÆÚ·çÏÕÓëÔ¤ÆÚÊÕÒæˮƽ¸ßÓÚծȯÐÍ»ù½ðÓë
»õ±ÒÊг¡»ù½ð¡£±¾»ù½ðΪָÊýÐÍ»ù½ð£¬Ö÷Òª²ÉÓÃÍêÈ«¸´ÖÆ·¨¸ú×Ù±êµÄÖ¸ÊýµÄ±íÏÖ£¬
¾ßÓÐÓë±êµÄÖ¸ÊýÏàËƵķçÏÕÊÕÒæÌØÕ÷¡£
±¾»ù½ð°´ÕÕ»ù½ð·Ý¶î·¢ÊÛÃæÖµ1.00Ôª·¢ÊÛ£¬ÔÚÊг¡²¨¶¯µÈÒòËصÄÓ°ÏìÏ£¬
»ù½ð·Ý¶î¾»Öµ¿ÉÄܵÍÓÚ»ù½ð·Ý¶î·¢ÊÛÃæÖµ¡£
±¾»ù½ðͶ×ÊÓÚ֤ȯÊг¡£¬»ù½ð¾»Öµ»áÒòΪ֤ȯÊг¡²¨¶¯µÈÒòËزúÉú²¨¶¯£¬Í¶
×ÊÈËÔÚͶ×ʱ¾»ù½ðÇ°£¬Ðè³ä·ÖÁ˽Ȿ»ù½ðµÄ²úÆ·ÌØÐÔ£¬³ä·Ö¿¼ÂÇ×ÔÉíµÄ·çÏÕ³ÐÊÜ
ÄÜÁ¦£¬ÀíÐÔÅжÏÊг¡£¬¶ÔͶ×ʱ¾»ù½ðµÄÒâÔ¸¡¢Ê±»ú¡¢ÊýÁ¿µÈͶ×ÊÐÐΪ×÷³ö¶ÀÁ¢¾ö
²ß£¬²¢³Ðµ£»ù½ðͶ×ÊÖгöÏֵĸ÷Àà·çÏÕ£¬°üÀ¨Êг¡·çÏÕ¡¢¹ÜÀí·çÏÕ¡¢¼¼Êõ·çÏÕ¡¢
ETFÌØÓзçÏÕ¼°ÆäËû·çÏյȡ£ETFÌØÓзçÏÕ°üÀ¨£ºÖ¸Êý»¯Í¶×ʵķçÏÕ¡¢±êµÄÖ¸ÊýµÄ
·çÏÕ¡¢¸ú×ÙÆ«Àë¶ÈºÍ¸ú×ÙÎó²îµÄ·çÏÕ¡¢»ù½ð½»Ò×¼Û¸ñÓë·Ý¶î¾»Öµ·¢ÉúÆ«ÀëµÄ·çÏÕ¡¢
²Î¿¼IOPV¾ö²ßºÍIOPV¼ÆËã´íÎóµÄ·çÏÕ¡¢Í¶×ÊÈËÉ깺ʧ°ÜµÄ·çÏÕ¡¢Í¶×ÊÈËÊê»Øʧ°Ü
µÄ·çÏÕ¡¢»ù½ð·Ý¶îÊê»Ø¶Ô¼ÛµÄ±äÏÖ·çÏÕ¡¢Ì×Àû·çÏÕ¡¢É깺Êê»ØÇåµ¥²î´í·çÏÕ¡¢¶þ
¼¶Êг¡Á÷¶¯ÐÔ·çÏÕ¡¢ÍËÊзçÏÕ¡¢µÚÈý·½»ú¹¹·þÎñµÄ·çÏյȡ£
±¾»ù½ð¿É¸ù¾ÝͶ×ʲßÂÔÐèÒª»òÊг¡»·¾³µÄ±ä»¯£¬Ñ¡Ôñ½«²¿·Ö»ù½ð×ʲúͶ×ÊÓÚ
¿Æ´´°å¹ÉƱ»òÑ¡Ôñ²»½«»ù½ð×ʲúͶ×ÊÓÚ¿Æ´´°å¹ÉƱ£¬»ù½ð×ʲú²¢·Ç±ØȻͶ×ÊÓÚ¿Æ
´´°å¹ÉƱ¡£»ù½ð×ʲúͶ×ÊÓÚ¿Æ´´°å¹ÉƱ£¬»áÃæÁÙ¿Æ´´°å»úÖÆÏÂÒòͶ×ʱêµÄ¡¢Êг¡
ÖƶÈÒÔ¼°½»Ò×¹æÔòµÈ²îÒì´øÀ´µÄÌØÓзçÏÕ£¬°üÀ¨µ«²»ÏÞÓÚÊг¡·çÏÕ¡¢Á÷¶¯ÐÔ·çÏÕ¡¢
ÐÅÓ÷çÏÕ¡¢¼¯ÖжȷçÏÕ¡¢ÏµÍ³ÐÔ·çÏÕ¡¢Õþ²ß·çÏյȡ£¾ßÌå·çÏÕ·³Çë²éÔı¾ÕÐļ˵
Ã÷ÊéµÄ¡°·çÏÕ½Òʾ¡±Õ½ڵÄÏà¹ØÄÚÈÝ¡£
Ͷ×ÊÓзçÏÕ£¬Í¶×ÊÈËÔÚ½øÐÐͶ×ʾö²ßÇ°£¬Çë×ÐϸÔĶÁ±¾ÕÐļ˵Ã÷Êé¡¢»ù½ðºÏ
ͬ¡¢»ù½ð²úÆ·×ÊÁϸÅÒªµÈÐÅÏ¢Åû¶Îļþ£¬Á˽Ȿ»ù½ðµÄ·çÏÕÊÕÒæÌØÕ÷£¬²¢¸ù¾Ý×Ô
ÉíµÄͶ×ÊÄ¿µÄ¡¢Í¶×ÊÆÚÏÞ¡¢Í¶×ʾÑé¡¢×ʲú×´¿öµÈÅжϻù½ðÊÇ·ñºÍͶ×ÊÈ˵ķçÏÕ
³ÐÊÜÄÜÁ¦ÏàÊÊÓ¦¡£
»ù½ð¹ÜÀíÈ˳ÐŵÒÔ㡾¡Ö°ÊØ¡¢³ÏʵÐÅÓᢽ÷É÷ÇÚÃãµÄÔÔò¹ÜÀíºÍÔËÓûù½ð×Ê
²ú£¬µ«²»±£Ö¤±¾»ù½ðÒ»¶¨Ó¯Àû£¬Ò²²»±£Ö¤×îµÍÊÕÒæ¡£µ±Í¶×ÊÈËÊê»Øʱ£¬ËùµÃ¿ÉÄÜ
»á¸ßÓÚ»òµÍÓÚͶ×ÊÈËÏÈÇ°ËùÖ§¸¶µÄ½ð¶î¡£Í¶×ÊÈËÓ¦µ±ÈÏÕæÔĶÁ»ù½ðºÏͬ¡¢»ù½ðÕÐ
ļ˵Ã÷Êé¡¢»ù½ð²úÆ·×ÊÁϸÅÒªµÈÐÅÏ¢Åû¶Îļþ£¬×ÔÖ÷Åжϻù½ðµÄͶ×ʼÛÖµ£¬×ÔÖ÷
×ö³öͶ×ʾö²ß£¬×ÔÐге£Í¶×Ê·çÏÕ¡£±¾»ù½ðµÄ¹ýÍùÒµ¼¨¼°Æä¾»Öµ¸ßµÍ²¢²»Ô¤Ê¾Æä
δÀ´Òµ¼¨±íÏÖ¡£»ù½ð¹ÜÀíÈËËù¹ÜÀíµÄÆäËû»ù½ðµÄÒµ¼¨²¢²»¹¹³É¶Ô±¾»ù½ðÒµ¼¨±íÏÖ
µÄ±£Ö¤¡£»ù½ð¹ÜÀíÈËÌáÐÑͶ×ÊÈË»ù½ðͶ×ʵġ°ÂòÕß×Ô¸º¡±ÔÔò£¬ÔÚ×ö³öͶ×ʾö²ß
ºó£¬»ù½ðÔËӪ״¿öÓë»ù½ð¾»Öµ±ä»¯ÒýÖµÄͶ×Ê·çÏÕ£¬ÓÉͶ×ÊÈË×ÔÐиºµ£¡£
Ͷ×ÊÈËÓ¦µ±Í¨¹ý»ù½ð¹ÜÀíÈË»ò¾ßÓлù½ðÏúÊÛÒµÎñ×ʸñµÄÆäËû»ú¹¹ÈϹº¡¢É깺
ºÍÊê»Ø»ù½ð·Ý¶î£¬»ù½ðÏúÊÛ»ú¹¹Ãûµ¥Ïê¼û±¾ÕÐļ˵Ã÷Êé¡¢±¾»ù½ðµÄ»ù½ð·Ý¶î·¢ÊÛ
¹«¸æÒÔ¼°Ïà¹ØÅû¶¡£
±¾ÕÐļ˵Ã÷ÊéÔ¼¶¨µÄ»ù½ð²úÆ·×ÊÁϸÅÒª±àÖÆ¡¢Åû¶Óë¸üÐÂÒªÇó£¬×Ô¡¶ÐÅÏ¢Åû
¶°ì·¨¡·ÊµÊ©Ö®ÈÕÆðÒ»Äêºó¿ªÊ¼Ö´ÐС£
±¾ÕÐļ˵Ã÷Ê飨¸üУ©ËùÔØÄÚÈݽØÖ¹ÈÕΪ2020Äê10ÔÂ16ÈÕ£¬ÓйزÆÎñÊý
¾ÝºÍ¾»Öµ±íÏÖ½ØÖ¹ÈÕΪ2019Äê9ÔÂ30ÈÕ£¬ËùÅû¶µÄͶ×Ê×éºÏΪ2019ÄêµÚ3¼¾
¶ÈµÄÊý¾Ý£¨²ÆÎñÊý¾Ýδ¾Éó¼Æ£©¡£
Ŀ ¼
Ò»¡¢Ð÷ÑÔ .......................................................................................................................................... 4
¶þ¡¢ÊÍÒå .......................................................................................................................................... 5
Èý¡¢»ù½ð¹ÜÀíÈË ............................................................................................................................ 10
ËÄ¡¢»ù½ðÍйÜÈË ............................................................................................................................ 25
Îå¡¢Ïà¹Ø·þÎñ»ú¹¹ ........................................................................................................................ 30
Áù¡¢»ù½ðµÄļ¼¯ ............................................................................................................................ 34
Æß¡¢»ù½ðºÏͬµÄÉúЧ .................................................................................................................... 35
°Ë¡¢»ù½ð·Ý¶îµÄÉÏÊн»Ò×............................................................................................................. 36
¾Å¡¢»ù½ð·Ý¶îµÄÉ깺ÓëÊê»Ø......................................................................................................... 38
Ê®¡¢»ù½ð·Ý¶îÕÛËãÓë±ä¸üµÇ¼Ç..................................................................................................... 52
ʮһ¡¢»ù½ðµÄͶ×Ê ........................................................................................................................ 53
Ê®¶þ¡¢»ù½ðµÄÒµ¼¨ ........................................................................................................................ 63
Ê®Èý¡¢»ù½ðµÄ²Æ²ú ........................................................................................................................ 64
Ê®ËÄ¡¢»ù½ð×ʲú¹ÀÖµ .................................................................................................................... 65
Ê®Îå¡¢»ù½ðµÄÊÕÒæÓë·ÖÅä............................................................................................................. 71
Ê®Áù¡¢»ù½ðµÄ·ÑÓÃÓëË°ÊÕ............................................................................................................. 73
Ê®Æß¡¢»ù½ðµÄ»á¼ÆºÍÉó¼Æ............................................................................................................. 76
Ê®°Ë¡¢»ù½ðµÄÐÅÏ¢Åû¶................................................................................................................. 77
Ê®¾Å¡¢·çÏÕ½Òʾ ............................................................................................................................ 84
¶þÊ®¡¢»ù½ðºÏͬµÄ±ä¸ü¡¢ÖÕÖ¹Óë»ù½ð²Æ²úµÄÇåËã ..................................................................... 91
¶þʮһ¡¢»ù½ðºÏͬµÄÄÚÈÝÕªÒª..................................................................................................... 94
¶þÊ®¶þ¡¢»ù½ðÍйÜÐÒéµÄÄÚÈÝÕªÒª ........................................................................................... 112
¶þÊ®Èý¡¢¶Ô»ù½ð·Ý¶î³ÖÓÐÈ˵ķþÎñ ........................................................................................... 126
¶þÊ®ËÄ¡¢ÆäËûÓ¦Åû¶ÊÂÏî........................................................................................................... 127
¶þÊ®Îå¡¢ÕÐļ˵Ã÷ÊéµÄ´æ·Å¼°²éÔÄ·½Ê½ ................................................................................... 128
¶þÊ®Áù¡¢±¸²éÎļþ ...................................................................................................................... 129
Ò»¡¢Ð÷ÑÔ
¡¶Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ðÕÐļ˵Ã÷Êé¡·£¨ÒÔÏÂ
¼ò³Æ¡°ÕÐļ˵Ã÷Ê顱»ò¡°±¾ÕÐļ˵Ã÷Ê顱£©ÒÀ¾Ý¡¶ÖлªÈËÃñ¹²ºÍ¹ú֤ȯͶ×Ê»ù½ð
·¨¡·£¨ÒÔϼò³Æ¡°¡¶»ù½ð·¨¡·¡±£©¡¢¡¶Ö¤È¯Í¶×Ê»ù½ðÏúÊÛ¹ÜÀí°ì·¨¡·£¨ÒÔϼò³Æ
¡°¡¶ÏúÊÛ°ì·¨¡·¡±£©¡¢¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÔË×÷¹ÜÀí°ì·¨¡·£¨ÒÔϼò³Æ¡°¡¶ÔË
×÷°ì·¨¡·¡±£©¡¢¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÐÅÏ¢Åû¶¹ÜÀí°ì·¨¡·£¨ÒÔϼò³Æ¡°¡¶ÐÅ
Ï¢Åû¶°ì·¨¡·¡±£©¡¢¡¶¹«¿ªÄ¼¼¯¿ª·Åʽ֤ȯͶ×Ê»ù½ðÁ÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡·£¨ÒÔ
ϼò³Æ¡°¡¶Á÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡·¡±£©¡¢¡¶Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·Åʽָ
Êý֤ȯͶ×Ê»ù½ð»ù½ðºÏͬ¡·£¨ÒÔϼò³Æ¡°»ù½ðºÏͬ¡±£©¼°ÆäËûÓйط¨ÂÉ·¨¹æ±àд¡£
±¾ÕÐļ˵Ã÷Êé²ûÊöÁËÒø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ðµÄ
Ͷ×ÊÄ¿±ê¡¢²ßÂÔ¡¢·çÏÕ¡¢·ÑÂʵÈÓëͶ×ÊÈËͶ×ʾö²ßÓйصÄÈ«²¿±ØÒªÊÂÏͶ×ÊÈË
ÔÚ×÷³öͶ×ʾö²ßÇ°Ó¦×ÐϸÔĶÁ±¾ÕÐļ˵Ã÷Êé¡£
»ù½ð¹ÜÀíÈ˳Ðŵ±¾ÕÐļ˵Ã÷Êé²»´æÔÚÈκÎÐé¼Ù¼ÇÔØ¡¢Îóµ¼ÐÔ³ÂÊö»òÕßÖØ´óÒÅ
©£¬²¢¶ÔÆäÕæʵÐÔ¡¢×¼È·ÐÔ¡¢ÍêÕûÐԳе£·¨ÂÉÔðÈΡ£
±¾»ù½ðÊǸù¾Ý±¾ÕÐļ˵Ã÷ÊéËùÔØÃ÷µÄ×ÊÁÏÉêÇëļ¼¯µÄ¡£±¾ÕÐļ˵Ã÷ÊéÓÉÒø»ª
»ù½ð¹ÜÀí¹É·ÝÓÐÏÞ¹«Ë¾½âÊÍ¡£±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»á×¢²á¡£»ù½ðºÏͬ
ÊÇÔ¼¶¨»ù½ðºÏͬµ±ÊÂÈËÖ®¼äȨÀû¡¢ÒåÎñµÄ·¨ÂÉÎļþ¡£»ù½ðͶ×ÊÈË×ÔÒÀ»ù½ðºÏͬȡ
µÃ»ù½ð·Ý¶î£¬¼´³ÉΪ»ù½ð·Ý¶î³ÖÓÐÈ˺ͻù½ðºÏͬµÄµ±ÊÂÈË£¬Æä³ÖÓб¾»ù½ð»ù½ð·Ý
¶îµÄÐÐΪ±¾Éí¼´±íÃ÷Æä¶Ô»ù½ðºÏͬµÄ³ÐÈϺͽÓÊÜ¡£»ù½ð·Ý¶î³ÖÓÐÈË×÷Ϊ»ù½ðºÏͬ
µ±ÊÂÈ˲¢²»ÒÔÔÚ»ù½ðºÏͬÉÏÊéÃæÇ©Õ»òÇ©×ÖΪ±ØÒªÌõ¼þ¡£»ù½ðºÏͬµ±ÊÂÈËÓ¦°´ÕÕ
¡¶»ù½ð·¨¡·¡¢»ù½ðºÏͬ¼°ÆäËûÓйع涨ÏíÓÐȨÀû¡¢³Ðµ£ÒåÎñ¡£»ù½ðͶ×ÊÈËÓûÁ˽â
»ù½ð·Ý¶î³ÖÓÐÈ˵ÄȨÀûºÍÒåÎñ£¬Ó¦Ïêϸ²éÔÄ»ù½ðºÏͬ¡£
¶þ¡¢ÊÍÒå
ÔÚ±¾ÕÐļ˵Ã÷ÊéÖУ¬³ý·ÇÎÄÒâÁíÓÐËùÖ¸£¬ÏÂÁдÊÓï»ò¼ò³Æ¾ßÓÐÈçϺ¬Ò壺
1¡¢»ù½ð»ò±¾»ù½ð£ºÖ¸Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð
2¡¢»ù½ð¹ÜÀíÈË£ºÖ¸Òø»ª»ù½ð¹ÜÀí¹É·ÝÓÐÏÞ¹«Ë¾
3¡¢»ù½ðÍйÜÈË£ºÖ¸Öйú¹¤ÉÌÒøÐйɷÝÓÐÏÞ¹«Ë¾
4¡¢»ù½ðºÏͬ£ºÖ¸¡¶Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð»ù½ð
ºÏͬ¡·¼°¶Ô»ù½ðºÏͬµÄÈκÎÓÐЧÐÞ¶©ºÍ²¹³ä
5¡¢ÍйÜÐÒ飺ָ»ù½ð¹ÜÀíÈËÓë»ù½ðÍйÜÈ˾ͱ¾»ù½ðÇ©¶©Ö®¡¶Òø»ªMSCIÖйú
A¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ðÍйÜÐÒé¡·¼°¶Ô¸ÃÍйÜÐÒéµÄÈκÎÓÐЧÐÞ¶©
ºÍ²¹³ä
6¡¢ÕÐļ˵Ã÷Êé»ò±¾ÕÐļ˵Ã÷Ê飺ָ¡¶Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý
֤ȯͶ×Ê»ù½ðÕÐļ˵Ã÷Êé¡·¼°Æä¸üÐÂ
7¡¢»ù½ð·Ý¶î·¢ÊÛ¹«¸æ£ºÖ¸¡¶Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê
»ù½ð»ù½ð·Ý¶î·¢ÊÛ¹«¸æ¡·
8¡¢»ù½ð²úÆ·×ÊÁϸÅÒª£ºÖ¸¡¶Òø»ªMSCIÖйúA¹É½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê
»ù½ð»ù½ð²úÆ·×ÊÁϸÅÒª¡·¼°Æä¸üÐÂ
9¡¢·¨ÂÉ·¨¹æ£ºÖ¸ÖйúÏÖÐÐÓÐЧ²¢¹«²¼ÊµÊ©µÄ·¨ÂÉ¡¢ÐÐÕþ·¨¹æ¡¢¹æ·¶ÐÔÎļþ¡¢
²¿ÃŹæÕ¡¢µØ·½ÐÔ·¨¹æ¡¢µØ·½Õþ¸®¹æÕºÍÆäÖƶ¨»ú¹¹²»Ê±×ö³öµÄÐ޸ġ¢²¹³äºÍÓÐ
Ȩ½âÊÍ
10¡¢¡¶»ù½ð·¨¡·£ºÖ¸2003Äê10ÔÂ28ÈÕ¾µÚÊ®½ìÈ«¹úÈËÃñ´ú±í´ó»á³£Îñί
Ô±»áµÚÎå´Î»áÒéͨ¹ý£¬2012Äê12ÔÂ28ÈÕµÚʮһ½ìÈ«¹úÈËÃñ´ú±í´ó»á³£ÎñίԱ
»áµÚÈýÊ®´Î»áÒéÐÞ¶©¡¢×Ô2013Äê6ÔÂ1ÈÕÆðʵʩ£¬²¢¾2015Äê4ÔÂ24ÈÕµÚÊ®
¶þ½ìÈ«¹úÈËÃñ´ú±í´ó»á³£ÎñίԱ»áµÚÊ®ËĴλáÒ顶ȫ¹úÈËÃñ´ú±í´ó»á³£ÎñίԱ»á
¹ØÓÚÐ޸ģ¼ÖлªÈËÃñ¹²ºÍ¹ú¸Û¿Ú·¨£¾µÈÆß²¿·¨Âɵľö¶¨¡·Ð޸ĵġ¶ÖлªÈËÃñ¹²ºÍ¹ú
֤ȯͶ×Ê»ù½ð·¨¡·¼°°ä²¼»ú¹Ø¶ÔÆ䲻ʱ×ö³öµÄÐÞ¶©
11¡¢¡¶ÏúÊÛ°ì·¨¡·£ºÖ¸ÖйúÖ¤¼à»á2013Äê3ÔÂ15ÈÕ°ä²¼¡¢Í¬Äê6ÔÂ1ÈÕʵ
Ê©µÄ¡¶Ö¤È¯Í¶×Ê»ù½ðÏúÊÛ¹ÜÀí°ì·¨¡·¼°°ä²¼»ú¹Ø¶ÔÆ䲻ʱ×ö³öµÄÐÞ¶©
12¡¢¡¶ÐÅÏ¢Åû¶°ì·¨¡·£ºÖ¸ÖйúÖ¤¼à»á2019Äê7ÔÂ26ÈÕ°ä²¼¡¢Í¬Äê9ÔÂ1
ÈÕʵʩµÄ¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÐÅÏ¢Åû¶¹ÜÀí°ì·¨¡·¼°°ä²¼»ú¹Ø¶ÔÆ䲻ʱ×ö³ö
µÄÐÞ¶©
13¡¢¡¶ÔË×÷°ì·¨¡·£ºÖ¸ÖйúÖ¤¼à»á2014Äê7ÔÂ7ÈÕ°ä²¼£¬Í¬Äê8ÔÂ8ÈÕʵ
Ê©µÄ¡¶¹«¿ªÄ¼¼¯Ö¤È¯Í¶×Ê»ù½ðÔË×÷¹ÜÀí°ì·¨¡·¼°°ä²¼»ú¹Ø¶ÔÆ䲻ʱ×ö³öµÄÐÞ¶©
14¡¢¡¶Á÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡·£ºÖ¸ÖйúÖ¤¼à»á2017Äê8ÔÂ31ÈÕ°ä²¼¡¢Í¬Äê
10ÔÂ1ÈÕʵʩµÄ¡¶¹«¿ªÄ¼¼¯¿ª·Åʽ֤ȯͶ×Ê»ù½ðÁ÷¶¯ÐÔ·çÏÕ¹ÜÀí¹æ¶¨¡·¼°°ä²¼
»ú¹Ø¶ÔÆ䲻ʱ×ö³öµÄÐÞ¶©
15¡¢½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð£ºÖ¸¡¶ÉϺ£Ö¤È¯½»Ò×Ëù½»Ò×ÐÍ¿ª·Åʽָ
Êý»ù½ðÒµÎñʵʩϸÔò¡·¶¨ÒåµÄ¡°½»Ò×ÐÍ¿ª·ÅʽָÊý»ù½ð¡±£¬¼ò³Æ¡°ETF¡±£¨Exchange
Traded Fund£©
16¡¢ETFÁª½Ó»ù½ð£ºÊÇÖ¸½«Æä¾ø´ó²¿·Ö»ù½ð²Æ²úͶ×ÊÓÚ¸ú×Ùͬһ±êµÄÖ¸ÊýµÄ
ETF£¨ÒÔϼò³Æ¡°Ä¿±êETF¡±£©£¬½ôÃܸú×Ù±êµÄÖ¸Êý±íÏÖ£¬×·Çó¸ú×ÙÆ«Àë¶ÈºÍ¸ú
×ÙÎó²î×îС»¯£¬²ÉÓÿª·ÅʽÔË×÷·½Ê½µÄ»ù½ð£¬¼ò³ÆÁª½Ó»ù½ð
17¡¢ÖйúÖ¤¼à»á£ºÖ¸Öйú֤ȯ¼à¶½¹ÜÀíίԱ»á
18¡¢ÒøÐÐÒµ¼à¶½¹ÜÀí»ú¹¹£ºÖ¸ÖйúÈËÃñÒøÐкÍ/»òÖйúÒøÐб£Ïռල¹ÜÀíί
Ô±»á»òÆäËû¾¹úÎñÔºÊÚȨµÄ»ú¹¹
19¡¢»ù½ðºÏͬµ±ÊÂÈË£ºÖ¸ÊÜ»ù½ðºÏͬԼÊø£¬¸ù¾Ý»ù½ðºÏͬÏíÓÐȨÀû²¢³Ðµ£Òå
ÎñµÄ·¨ÂÉÖ÷Ì壬°üÀ¨»ù½ð¹ÜÀíÈË¡¢»ù½ðÍйÜÈ˺ͻù½ð·Ý¶î³ÖÓÐÈË
20¡¢¸öÈËͶ×ÊÕߣºÖ¸ÒÀ¾ÝÓйط¨ÂÉ·¨¹æ¹æ¶¨¿ÉͶ×ÊÓÚ֤ȯͶ×Ê»ù½ðµÄ×ÔÈ»ÈË
21¡¢»ú¹¹Í¶×ÊÕߣºÖ¸ÒÀ·¨¿ÉÒÔͶ×Ê֤ȯͶ×Ê»ù½ðµÄ¡¢ÔÚÖлªÈËÃñ¹²ºÍ¹ú¾³ÄÚ
ºÏ·¨µÇ¼Ç²¢´æÐø»ò¾ÓйØÕþ¸®²¿ÃÅÅú×¼ÉèÁ¢²¢´æÐøµÄÆóÒµ·¨ÈË¡¢ÊÂÒµ·¨ÈË¡¢Éç»á
ÍÅÌå»òÆäËû×éÖ¯
22¡¢ºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕߣºÖ¸·ûºÏ¡¶ºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕß¾³ÄÚ֤ȯͶ×ʹÜÀí
°ì·¨¡·¼°Ïà¹Ø·¨ÂÉ·¨¹æ¹æ¶¨£¨°üÀ¨Æ䲻ʱÐÞ¶©£©¹æ¶¨µÄÌõ¼þ£¬¾ÖйúÖ¤¼à»áÅú×¼£¬
¿ÉÒÔͶ×ÊÓÚÖйú¾³ÄÚ֤ȯÊг¡£¬²¢È¡µÃ¹ú¼ÒÍâ»ã¹ÜÀí¾Ö¶î¶ÈÅú×¼µÄ¡¢¿ÉÒÔͶ×ÊÓÚ
ÔÚÖйú¾³ÄÚÒÀ·¨Ä¼¼¯µÄ֤ȯͶ×Ê»ù½ðµÄ¡¢Öйú¾³ÍâµÄ»ú¹¹Í¶×ÊÕß
23¡¢ÈËÃñ±ÒºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕߣºÖ¸°´ÕÕ¡¶ÈËÃñ±ÒºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕß¾³ÄÚ
֤ȯͶ×ÊÊÔµã°ì·¨¡·£¨°üÀ¨Æ䲻ʱÐÞ¶©£©¼°Ïà¹Ø·¨ÂÉ·¨¹æ¹æ¶¨£¬ÔËÓÃÀ´×Ô¾³ÍâµÄ
ÈËÃñ±Ò×ʽð½øÐо³ÄÚ֤ȯͶ×ʵľ³Íâ·¨ÈË
24¡¢Í¶×ÊÈË£ºÖ¸¸öÈËͶ×ÊÕß¡¢»ú¹¹Í¶×ÊÕß¡¢ºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕß¡¢ÈËÃñ±ÒºÏ
¸ñ¾³Íâ»ú¹¹Í¶×ÊÕßÒÔ¼°·¨ÂÉ·¨¹æ»òÖйúÖ¤¼à»áÔÊÐí¹ºÂò֤ȯͶ×Ê»ù½ðµÄÆäËûͶ
×ÊÈ˵ĺϳÆ
25¡¢»ù½ð·Ý¶î³ÖÓÐÈË£ºÖ¸ÒÀ»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéµÈÏà¹ØÎļþºÏ·¨È¡µÃ±¾»ù
½ð»ù½ð·Ý¶îµÄͶ×ÊÈË
26¡¢»ù½ðÏúÊÛÒµÎñ£ºÖ¸»ù½ð¹ÜÀíÈË»òÏúÊÛ»ú¹¹Ðû´«Íƽé»ù½ð£¬·¢ÊÛ»ù½ð·Ý¶î£¬
°ìÀí»ù½ð·Ý¶îµÄÉ깺¡¢Êê»ØµÈÒµÎñ
27¡¢ÏúÊÛ»ú¹¹£ºÖ¸Ö±Ïú»ú¹¹¡¢·¢ÊÛ´úÀí»ú¹¹¼°É깺Êê»Ø´úÀíȯÉÌ
28¡¢»ù½ðÏúÊÛÍøµã£ºÖ¸ÏúÊÛ»ú¹¹µÄÏúÊÛÍøµã
29¡¢·¢ÊÛ´úÀí»ú¹¹£ºÖ¸»ù½ð¹ÜÀíÈËÖ¸¶¨µÄ´úÀí±¾»ù½ð·¢ÊÛÒµÎñµÄ»ú¹¹
30¡¢É깺Êê»Ø´úÀíȯÉÌ£ºÖ¸»ù½ð¹ÜÀíÈËÖ¸¶¨µÄ°ìÀí±¾»ù½ðÉ깺¡¢Êê»ØÒµÎñµÄ
֤ȯ¹«Ë¾£¬ÓÖ³ÆΪ´ú°ì֤ȯ¹«Ë¾
31¡¢µÇ¼ÇÒµÎñ£ºÖ¸¡¶Öйú֤ȯµÇ¼Ç½áËãÓÐÏÞÔðÈι«Ë¾¹ØÓÚ½»Ò×Ëù½»Ò×ÐÍ¿ª·Å
ʽ֤ȯͶ×Ê»ù½ðµÇ¼Ç½áËãÒµÎñʵʩϸÔò¡·¶¨ÒåµÄ»ù½ð·Ý¶îµÄµÇ¼Ç¡¢´æ¹Ü¡¢½áËã¼°
Ïà¹ØÒµÎñ
32¡¢µÇ¼Ç»ú¹¹£ºÖ¸°ìÀíµÇ¼ÇÒµÎñµÄ»ú¹¹¡£»ù½ðµÄµÇ¼Ç»ú¹¹ÎªÖйú֤ȯµÇ¼Ç½á
ËãÓÐÏÞÔðÈι«Ë¾
33¡¢»ù½ðºÏͬÉúЧÈÕ£ºÖ¸»ù½ðļ¼¯´ïµ½·¨ÂÉ·¨¹æ¹æ¶¨¼°»ù½ðºÏͬ¹æ¶¨µÄÌõ¼þ£¬
»ù½ð¹ÜÀíÈËƸÇë·¨¶¨»ú¹¹Ñé×ʲ¢ÏòÖйúÖ¤¼à»á°ìÀí»ù½ð±¸°¸ÊÖÐøÍê±Ï£¬²¢»ñµÃÖÐ
¹úÖ¤¼à»áÊéÃæÈ·ÈÏÖ®ÈÕ
34¡¢»ù½ðºÏͬÖÕÖ¹ÈÕ£ºÖ¸»ù½ðºÏͬ¹æ¶¨µÄ»ù½ðºÏͬÖÕÖ¹ÊÂÓɳöÏֺ󣬻ù½ð²Æ
²úÇåËãÍê±Ï£¬ÇåË㱨¸æ±¨ÖйúÖ¤¼à»á±¸°¸²¢ÓèÒÔ¹«¸æÖ®ÈÕ
35¡¢»ù½ðļ¼¯ÆÚ£ºÖ¸×Ô»ù½ð·Ý¶î·¢ÊÛÖ®ÈÕÆðÖÁ·¢ÊÛ½áÊøÖ®ÈÕÖ¹µÄÆڼ䣬×
²»µÃ³¬¹ý3¸öÔÂ
36¡¢´æÐøÆÚ£ºÖ¸»ù½ðºÏͬÉúЧºóºÏ·¨´æÐøµÄ²»¶¨ÆÚÆÚ¼ä
37¡¢¹¤×÷ÈÕ£ºÖ¸ÉϺ£Ö¤È¯½»Ò×Ëù¡¢ÉîÛÚ֤ȯ½»Ò×ËùµÄÕý³£½»Ò×ÈÕ
38¡¢TÈÕ£ºÖ¸ÏúÊÛ»ú¹¹Ôڹ涨ʱ¼äÊÜÀíͶ×ÊÈËÉ깺¡¢Êê»Ø»òÆäËûÒµÎñÉêÇëµÄ
¹¤×÷ÈÕ
39¡¢T+nÈÕ£ºÖ¸×ÔTÈÕÆðµÚn¸ö¹¤×÷ÈÕ£¨²»°üº¬TÈÕ£©£¬n=1£¬2£¬3£¬4£¬5¡¡
40¡¢¿ª·ÅÈÕ£ºÖ¸ÎªÍ¶×ÊÈË°ìÀí»ù½ð·Ý¶îÉ깺¡¢Êê»Ø»òÆäËûÒµÎñµÄ¹¤×÷ÈÕ
41¡¢¿ª·Åʱ¼ä£ºÖ¸¿ª·ÅÈÕ»ù½ð½ÓÊÜÉ깺¡¢Êê»Ø»òÆäËû½»Ò×µÄʱ¼ä¶Î
42¡¢¡¶ÒµÎñ¹æÔò¡·£ºÖ¸Òø»ª»ù½ð¹ÜÀí¹É·ÝÓÐÏÞ¹«Ë¾¡¢ÉϺ£Ö¤È¯½»Ò×ËùºÍÖйú
֤ȯµÇ¼Ç½áËãÓÐÏÞÔðÈι«Ë¾µÄÏà¹ØÒµÎñ¹æÔò¼°ºóÐøÐÞ¶©µÄÒµÎñ¹æÔò
43¡¢ÈϹº£ºÖ¸ÔÚ»ù½ðļ¼¯ÆÚÄÚ£¬Í¶×ÊÈËÉêÇ빺Âò»ù½ð·Ý¶îµÄÐÐΪ
44¡¢É깺£ºÖ¸»ù½ðºÏͬÉúЧºó£¬Í¶×ÊÈ˸ù¾Ý»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéµÄ¹æ¶¨£¬
ÒÔÉ깺Êê»ØÇåµ¥¹æ¶¨µÄÉ깺¶Ô¼ÛÏò»ù½ð¹ÜÀíÈ˹ºÂò»ù½ð·Ý¶îµÄÐÐΪ
45¡¢Êê»Ø£ºÖ¸»ù½ðºÏͬÉúЧºó£¬»ù½ð·Ý¶î³ÖÓÐÈË°´»ù½ðºÏͬ¹æ¶¨µÄÌõ¼þ£¬Ïò
»ù½ð¹ÜÀíÈËÂô³ö»ù½ð·Ý¶îÒÔÈ¡µÃÉ깺Êê»ØÇåµ¥Ëù¹æ¶¨µÄÊê»Ø¶Ô¼ÛµÄÐÐΪ
46¡¢É깺Êê»ØÇåµ¥£ºÖ¸ÓÉ»ù½ð¹ÜÀíÈ˱àÖƵÄÓÃÒÔ¹«¸æÉ깺¶Ô¼Û¡¢Êê»Ø¶Ô¼ÛµÈ
ÐÅÏ¢µÄÎļþ
47¡¢É깺¶Ô¼Û£ºÖ¸Í¶×ÊÈËÉ깺»ù½ð·Ý¶îʱ£¬°´»ù½ðºÏͬºÍÕÐļ˵Ã÷Êé¹æ¶¨Ó¦
½»¸¶µÄ×éºÏ֤ȯ¡¢ÏÖ½ðÌæ´ú¡¢ÏÖ½ð²î¶î¼°ÆäËû¶Ô¼Û
48¡¢Êê»Ø¶Ô¼Û£ºÖ¸»ù½ð·Ý¶î³ÖÓÐÈËÊê»Ø»ù½ð·Ý¶îʱ£¬»ù½ð¹ÜÀíÈË°´»ù½ðºÏͬ
ºÍÕÐļ˵Ã÷Êé¹æ¶¨Ó¦½»¸¶¸øÊê»ØÈ˵Ä×éºÏ֤ȯ¡¢ÏÖ½ðÌæ´ú¡¢ÏÖ½ð²î¶î¼°ÆäËû¶Ô¼Û
49¡¢±êµÄÖ¸Êý£ºÖ¸MSCI¹«Ë¾±àÖƲ¢·¢²¼µÄMSCIÖйúA¹ÉÈËÃñ±ÒÖ¸Êý¼°Æäδ
À´¿ÉÄÜ·¢ÉúµÄ±ä¸ü
50¡¢×éºÏ֤ȯ£ºÖ¸±¾»ù½ð±êµÄÖ¸ÊýËù°üº¬µÄÈ«²¿»ò²¿·Ö֤ȯ
51¡¢Á÷¶¯ÐÔÊÜÏÞ×ʲú£ºÖ¸ÓÉÓÚ·¨ÂÉ·¨¹æ¡¢¼à¹Ü¡¢ºÏͬ»ò²Ù×÷ÕÏ°µÈÔÒòÎÞ·¨
ÒÔºÏÀí¼Û¸ñÓèÒÔ±äÏÖµÄ×ʲú£¬°üÀ¨µ«²»ÏÞÓÚµ½ÆÚÈÕÔÚ10¸ö½»Ò×ÈÕÒÔÉϵÄÄæ»Ø¹º
ÓëÒøÐж¨ÆÚ´æ¿î£¨º¬ÐÒéÔ¼¶¨ÓÐÌõ¼þÌáǰ֧ȡµÄÒøÐдæ¿î£©¡¢Í£ÅƹÉƱ¡¢Á÷ͨÊÜ
ÏÞµÄйɼ°·Ç¹«¿ª·¢ÐйÉƱ¡¢×ʲúÖ§³Ö֤ȯ¡¢Òò·¢ÐÐÈËÕ®ÎñÎ¥Ô¼ÎÞ·¨½øÐÐתÈûò
½»Ò×µÄծȯµÈ
52¡¢×îСÉ깺Êê»Øµ¥Î»£ºÖ¸±¾»ù½ðÉ깺·Ý¶î¡¢Êê»Ø·Ý¶îµÄ×îµÍÊýÁ¿£¬Í¶×ÊÈË
É깺»òÊê»ØµÄ»ù½ð·Ý¶îÊýӦΪ×îСÉ깺Êê»Øµ¥Î»µÄÕûÊý±¶
53¡¢ÏÖ½ðÌæ´ú£ºÖ¸É깺»òÊê»Ø¹ý³ÌÖУ¬Í¶×ÊÈË°´»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéµÄ¹æ
¶¨£¬ÓÃÓÚÌæ´ú×éºÏ֤ȯÖв¿·Ö֤ȯµÄÒ»¶¨ÊýÁ¿µÄÏÖ½ð
54¡¢ÏÖ½ð²î¶î£ºÖ¸×îСÉ깺Êê»Øµ¥Î»µÄ×ʲú¾»ÖµÓë°´µ±ÈÕÊÕÅ̼ۼÆËãµÄ×îС
É깺Êê»Øµ¥Î»ÖеÄ×éºÏ֤ȯÊÐÖµºÍÏÖ½ðÌæ´úÖ®²î£»Í¶×ÊÈËÉ깺»òÊê»ØʱӦ֧¸¶»ò
Ó¦»ñµÃµÄÏÖ½ð²î¶î¸ù¾Ý×îСÉ깺Êê»Øµ¥Î»¶ÔÓ¦µÄÏÖ½ð²î¶î¡¢É깺»òÊê»ØµÄ»ù½ð·Ý
¶îÊý¼ÆËã
55¡¢Ôª£ºÖ¸ÈËÃñ±ÒÔª
56¡¢»ù½ðÀûÈó£ºÖ¸»ù½ðÀûÏ¢ÊÕÈ롢Ͷ×ÊÊÕÒæ¡¢¹«ÔʼÛÖµ±ä¶¯ÊÕÒæºÍÆäËûÊÕÈë
¿Û³ýÏà¹Ø·ÑÓúóµÄÓà¶î
57¡¢»ù½ð×ʲú×ÜÖµ£ºÖ¸»ù½ðÓµÓеĸ÷ÀàÓмÛ֤ȯ¡¢ÒøÐдæ¿î±¾Ï¢¡¢»ù½ðÓ¦ÊÕ
É깺¿î¼°ÆäËû×ʲúµÄ¼ÛÖµ×ܺÍ
58¡¢»ù½ð×ʲú¾»Öµ£ºÖ¸»ù½ð×ʲú×ÜÖµ¼õÈ¥»ù½ð¸ºÕ®ºóµÄ¼ÛÖµ
59¡¢»ù½ð·Ý¶î¾»Öµ£ºÖ¸¼ÆËãÈÕ»ù½ð×ʲú¾»Öµ³ýÒÔ¼ÆËãÈÕ»ù½ð·Ý¶î×ÜÊýËùµÃ¼Û
Öµ
60¡¢»ù½ð×ʲú¹ÀÖµ£ºÖ¸¼ÆËãÆÀ¹À»ù½ð×ʲúºÍ¸ºÕ®µÄ¼ÛÖµ£¬ÒÔÈ·¶¨»ù½ð×ʲú¾»
ÖµºÍ»ù½ð·Ý¶î¾»ÖµµÄ¹ý³Ì
61¡¢Ö¸¶¨Ã½½é£ºÖ¸ÖйúÖ¤¼à»áÖ¸¶¨µÄÓÃÒÔ½øÐÐÐÅÏ¢Åû¶µÄÈ«¹úÐÔ±¨¿¯¼°Ö¸¶¨
»¥ÁªÍøÍøÕ¾£¨°üÀ¨»ù½ð¹ÜÀíÈËÍøÕ¾¡¢»ù½ðÍйÜÈËÍøÕ¾¡¢ÖйúÖ¤¼à»á»ù½ðµç×ÓÅû¶
ÍøÕ¾£©µÈý½é
62¡¢²»¿É¿¹Á¦£ºÖ¸»ù½ðºÏͬµ±ÊÂÈ˲»ÄÜÔ¤¼û¡¢²»ÄܱÜÃâÇÒ²»ÄÜ¿Ë·þµÄ¿Í¹ÛÊÂ
¼þ¡£
63¡¢Öйú£ºÖ¸ÖлªÈËÃñ¹²ºÍ¹ú¡£¾Í»ù½ðºÏͬ¶øÑÔ£¬²»°üÀ¨Ïã¸ÛÌرðÐÐÕþÇø¡¢
°ÄÃÅÌرðÐÐÕþÇøºĮ́ÍåµØÇø
64¡¢×ªÈÚ֤ͨȯ³ö½èÒµÎñ£ºÖ¸±¾»ù½ðÒÔÒ»¶¨·ÑÂÊ£¬Í¨¹ý֤ȯ½»Ò×Ëù×ÛºÏÒµÎñ
ƽ̨ÏòÖйú֤ȯ½ðÈڹɷÝÓÐÏÞ¹«Ë¾³ö½è֤ȯ£¬Öйú֤ȯ½ðÈڹɷÝÓÐÏÞ¹«Ë¾µ½ÆÚ¹é
»¹Ëù½è֤ȯ¼°ÏàӦȨÒæ²¹³¥²¢Ö§¸¶·ÑÓõÄÒµÎñ
Èý¡¢»ù½ð¹ÜÀíÈË
£¨Ò»£©»ù½ð¹ÜÀíÈ˸ſö
Ãû³Æ Òø»ª»ù½ð¹ÜÀí¹É·ÝÓÐÏÞ¹«Ë¾
×¢²áµØÖ· ¹ã¶«Ê¡ÉîÛÚÊÐÉîÄÏ´óµÀ6008ºÅÌØÇø±¨Òµ´óÏÃ19²ã
°ì¹«µØÖ· ±±¾©Êж«³ÇÇø¶«³¤°²½Ö1ºÅ¶«·½¹ã³¡¶«·½¾Ã³³ÇC2°ì¹«Â¥15²ã
·¨¶¨´ú±íÈË ÍõÖéÁÖ ÉèÁ¢ÈÕÆÚ 2001Äê5ÔÂ28ÈÕ
Åú×¼ÉèÁ¢»ú¹Ø ÖйúÖ¤¼à»á Åú×¼ÉèÁ¢ÎĺŠÖйúÖ¤¼à»áÖ¤¼à»ù½ð×Ö[2001]7ºÅ
×éÖ¯ÐÎʽ ¹É·ÝÓÐÏÞ¹«Ë¾ ×¢²á×ʱ¾ 2.222ÒÚÔªÈËÃñ±Ò
´æÐøÆÚ¼ä ³ÖÐø¾Óª ÁªÏµÈË ·ë¾§
µç»° 010-58163000 ´«Õæ 010-58163090
Òø»ª»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾³ÉÁ¢ÓÚ2001Äê5ÔÂ28ÈÕ£¬ÊǾÖйúÖ¤¼à»áÅú×¼£¨Ö¤
¼à»ù½ð×Ö[2001]7ºÅÎÄ£©ÉèÁ¢µÄÈ«¹úÐÔ×ʲú¹ÜÀí¹«Ë¾¡£¹«Ë¾×¢²á×ʱ¾Îª2.222ÒÚ
ÔªÈËÃñ±Ò£¬¹«Ë¾µÄ¹ÉȨ½á¹¹ÎªÎ÷ÄÏ֤ȯ¹É·ÝÓÐÏÞ¹«Ë¾£¨³ö×ʱÈÀý44.10%£©¡¢µÚ
Ò»´´ÒµÖ¤È¯¹É·ÝÓÐÏÞ¹«Ë¾£¨³ö×ʱÈÀý26.10%£©¡¢¶«±±Ö¤È¯¹É·ÝÓÐÏÞ¹«Ë¾£¨³ö×Ê
±ÈÀý18.90%£©¡¢É½Î÷º£öÎʵҵ¹É·ÝÓÐÏÞ¹«Ë¾£¨³ö×ʱÈÀý0.90%£©¡¢Ö麣Òø»ª¾ÛÒå
Ͷ×ʺϻïÆóÒµ£¨ÓÐÏ޺ϻ£¨³ö×ʱÈÀý3.57%£©¡¢Ö麣Òø»ªÖÂÐÅͶ×ʺϻïÆóÒµ£¨ÓÐ
Ï޺ϻ£¨³ö×ʱÈÀý3.20%£©¼°Ö麣Òø»ª»ã«hͶ×ʺϻïÆóÒµ£¨ÓÐÏ޺ϻ£¨³ö×Ê
±ÈÀý3.22%£©¡£¹«Ë¾µÄÖ÷ÒªÒµÎñÊÇ»ù½ðļ¼¯¡¢»ù½ðÏúÊÛ¡¢×ʲú¹ÜÀí¼°ÖйúÖ¤¼à»á
Ðí¿ÉµÄÆäËûÒµÎñ¡£¹«Ë¾×¢²áµØΪ¹ã¶«Ê¡ÉîÛÚÊС£Òø»ª»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾µÄ·¨¶¨Ãû
³ÆÒÑÓÚ2016Äê8ÔÂ9ÈÕÆð±ä¸üΪ¡°Òø»ª»ù½ð¹ÜÀí¹É·ÝÓÐÏÞ¹«Ë¾¡±¡£
¹«Ë¾ÖÎÀí½á¹¹ÍêÉÆ£¬¾ÓªÔË×÷¹æ·¶£¬Äܹ»ÇÐʵά»¤»ù½ðͶ×ÊÈ˵ÄÀûÒæ¡£¹«Ë¾
¶Ê»áÏÂÉè¡°Õ½ÂÔίԱ»á¡±¡¢¡°·çÏÕ¿ØÖÆίԱ»á¡±¡¢¡°Ð½³êÓëÌáÃûίԱ»á¡±¡¢¡°Éó
¼ÆίԱ»á¡±ËĸöרҵίԱ»á£¬ÓÐÕë¶ÔÐÔµØÑо¿¹«Ë¾ÔÚ¾Óª¹ÜÀíºÍ»ù½ðÔË×÷ÖеÄÏà
¹ØÇé¿ö£¬Öƶ¨ÏàÓ¦µÄÕþ²ß£¬²¢³ä·Ö·¢»Ó¶ÀÁ¢¶ÊµÄÖ°ÄÜ£¬ÇÐʵ¼ÓÇ¿¶Ô¹«Ë¾ÔË×÷µÄ
¼à¶½¡£
¹«Ë¾¼àÊ»áÓÉ4λ¼àÊÂ×é³É£¬Ö÷Òª¸ºÔð¼ì²é¹«Ë¾µÄ²ÆÎñÒÔ¼°¶Ô¹«Ë¾¶Ê¡¢¸ß
¼¶¹ÜÀíÈËÔ±µÄÐÐΪ½øÐмල¡£
¹«Ë¾¾ßÌå¾Óª¹ÜÀíÓÉ×ܾÀí¸ºÔ𣬹«Ë¾¸ù¾Ý¾ÓªÔË×÷ÐèÒªÉèÖÃͶ×ʹÜÀíÒ»
²¿¡¢Í¶×ʹÜÀí¶þ²¿¡¢Í¶×ʹÜÀíÈý²¿¡¢Á¿»¯Í¶×ʲ¿¡¢¾³ÍâͶ×ʲ¿¡¢FOFͶ×ʹÜÀí²¿¡¢
Ñо¿²¿¡¢Êг¡ÓªÏú²¿¡¢»ú¹¹ÒµÎñ²¿¡¢ÑøÀϽðÒµÎñ²¿¡¢½»Ò×¹ÜÀí²¿¡¢·çÏÕ¹ÜÀí²¿¡¢
²úÆ·¿ª·¢²¿¡¢ÔË×÷±£Õϲ¿¡¢ÐÅÏ¢¼¼Êõ²¿¡¢»¥ÁªÍø½ðÈÚ²¿¡¢Õ½ÂÔ·¢Õ¹²¿¡¢Í¶×ÊÒøÐÐ
²¿¡¢¼à²ì»üºË²¿¡¢ÄÚ²¿Éó¼Æ²¿¡¢ÈËÁ¦×ÊÔ´²¿¡¢¹«Ë¾°ì¹«ÊÒ¡¢²ÆÎñÐÐÕþ²¿¡¢ÉîÛÚ¹Ü
Àí²¿µÈ24¸öÖ°Äܲ¿ÃÅ£¬²¢ÉèÓб±¾©·Ö¹«Ë¾¡¢Çൺ·Ö¹«Ë¾ºÍÉϺ£·Ö¹«Ë¾¡£´ËÍ⣬
¹«Ë¾ÉèÁ¢Í¶×ʾö²ßίԱ»á×÷Ϊ¹«Ë¾Í¶×ÊÒµÎñµÄ×î¸ß¾ö²ß»ú¹¹£¬Í¬Ê±ÏÂÉè¡°Ö÷¶¯ÐÍ
A¹ÉͶ×ʾö²ß¡¢¹Ì¶¨ÊÕÒæͶ×ʾö²ß¡¢Á¿»¯ºÍ¾³ÍâͶ×ʾö²ß¡¢ÑøÀϽðͶ×ʾö²ß¼°»ù
½ðÖлù½ðͶ×ʾö²ß¡±Îå¸öרÃÅίԱ»á¡£¹«Ë¾Í¶×ʾö²ßίԱ»á¸ºÔðÈ·¶¨¹«Ë¾Í¶×ÊÒµ
ÎñÀíÄͶ×ÊÕþ²ß¼°Í¶×ʾö²ßÁ÷³ÌºÍ·çÏÕ¹ÜÀí¡£
£¨¶þ£©Ö÷ÒªÈËÔ±Çé¿ö
1.»ù½ð¹ÜÀíÈ˶Ê¡¢¼àÊ¡¢¾Àí¼°ÆäËû¸ß¼¶¹ÜÀíÈËÔ±
ÍõÖéÁÖÏÈÉú£º¶Ê³¤£¬¾¼Ãѧ²©Ê¿¡£ÔøÈθÊËàÊ¡Ö°¹¤²Æ¾Ñ§Ôº²Æ»áϵ½²Ê¦£¬
¸ÊËàʡ֤ȯ¹«Ë¾·¢Ðв¿¾Àí£¬ÖйúÀ¶ÐÇ»¯Ñ§¹¤Òµ×ܹ«Ë¾´¦³¤£¬À¶ÐÇÇåÏ´¹É·ÝÓÐÏÞ
¹«Ë¾¶Ê¡¢¸±×ܾÀí¡¢¶Ê»áÃØÊ飬Î÷ÄÏ֤ȯ¸±×ܲã¬ÖйúÒøºÓ֤ȯ¸±×ܲã¬Î÷
ÄÏ֤ȯ¶Ê¡¢×ܲã»»¹ÔøÏȺóµ£ÈÎÖйúÖ¤¼à»á·¢ÐÐÉóºËίԱ»áίԱ¡¢ÖйúÖ¤¼à»á
ÉÏÊй«Ë¾²¢¹ºÖØ×éÉóºËίԱ»áίԱ¡¢Öйú֤ȯҵлáͶ×ÊÒøÐÐҵίԱ»áίԱ¡¢ÖØ
ÇìÊÐ֤ȯÆÚ»õҵлá»á³¤¡£ÏÖÈι«Ë¾¶Ê³¤£¬¼æÈÎÖйúÉÏÊй«Ë¾Ð»á²¢¹ºÈÚ×Êί
Ô±»áÖ´ÐÐÖ÷ÈΡ¢Öйú֤ȯҵлáÂÌɫ֤ȯרҵίԱ»á¸±Ö÷ÈÎίԱ¡¢ÖйúÍËÒÛÊ¿±ø
¾ÍÒµ´´Òµ·þÎñ´Ù½ø»á¸±Àíʳ¤¡¢ÖÐÖ¤»ú¹¹¼ä±¨¼Ûϵͳ¹É·ÝÓÐÏÞ¹«Ë¾¶Ê¡¢Öйúº½
·¢¶¯Á¦¹É·ÝÓÐÏÞ¹«Ë¾¶ÀÁ¢¶Ê¡¢±±Æû¸£ÌïÆû³µ¹É·ÝÓÐÏÞ¹«Ë¾¶ÀÁ¢¶Ê¡¢²ÆÕþ²¿×Ê
²úÆÀ¹À×¼ÔòίԱ»áίԱ¡£
Íõ·¼Å®Ê¿£º¶Ê£¬·¨Ñ§Ë¶Ê¿¡¢Ç廪ÎåµÀ¿Ú½ðÈÚEMBA¡£ÔøÈδóÅô֤ȯÓÐÏÞÔð
Èι«Ë¾·¨ÂÉÖ§³Ö²¿¾Àí£¬µÚÒ»´´ÒµÖ¤È¯ÓÐÏÞÔðÈι«Ë¾Ê×ϯÂÉʦ¡¢·¨ÂɺϹ沿×ܾ
Àí¡¢ºÏ¹æ×ܼࡢ¸±×ܲ㬵ÚÒ»´´ÒµÖ¤È¯¹É·ÝÓÐÏÞ¹«Ë¾³£Îñ¸±×ܲᢺϹæ×ܼࡣÏÖ
ÈεÚÒ»´´ÒµÖ¤È¯¹É·ÝÓÐÏÞ¹«Ë¾¶Ê¡¢×ܲ㬵ÚÒ»´´ÒµÖ¤È¯³ÐÏú±£¼öÓÐÏÞÔðÈι«Ë¾
Ö´ÐжÊ¡£
À´ºÏÈÉú£º¶Ê£¬Öй²µ³Ô±£¬Ë¶Ê¿Ñо¿Éú£¬¸ß¼¶¹¤³Ìʦ¡£ÔøÈÎÒ»Æû¼¯ÍŹ«
˾·¢Õ¹²¿²¿³¤£»¼ªÁÖÊ¡¾¼ÃóÒ×ίԱ»á¸±Ö÷ÈΣ»¼ªÁÖÊ¡·¢Õ¹ºÍ¸Ä¸ïίԱ»á¸±Ö÷ÈΣ»
³¤´ºÊи±Êг¤£»¼ªÁÖÊ¡·¢Õ¹ºÍ¸Ä¸ïίԱ»áÖ÷ÈΣ»¼ªÁÖÊ¡Õþ¸®µ³×é³ÉÔ±¡¢ÃØÊ鳤¡£
ÏÖÈζ«±±Ö¤È¯¹É·ÝÓÐÏÞ¹«Ë¾¶Ê³¤¡¢µ³Î¯Êé¼Ç£¬¶«Ö¤ÈÚ»ã֤ȯ×ʲú¹ÜÀíÓÐÏÞ¹«Ë¾
¶Ê³¤£¬ÖÐÖ¤»ú¹¹¼ä±¨¼Ûϵͳ¹É·ÝÓÐÏÞ¹«Ë¾¼àÊ£¬ÉîÛÚ֤ȯ½»Ò×ËùµÚËĽìÀíÊ»á
Õ½ÂÔ·¢Õ¹Î¯Ô±»áίԱ£¬ÉϺ£Ö¤È¯½»Ò×ËùµÚËĽìÀíÊ»áÕþ²ß×ÉѯίԱ»áίԱ¡£
Îâ¼áÏÈÉú£º¶Ê£¬Öй²µ³Ô±¡£ÔøÈÎÖØÇìÊо¼ÃÌåÖƸĸïίԱ»áÖ÷ÈοÆÔ±£¬ÖØ
ÇìÊÐ֤ȯ¼à¹Ü°ì¹«ÊÒ¸±´¦³¤£¬ÖØÇìÖ¤¼à¾ÖÉÏÊд¦´¦³¤£¬ÖØÇìÓ帻×ʲú¾Óª¹ÜÀí¼¯
ÍÅÓÐÏÞ¹«Ë¾µ³Î¯Î¯Ô±¡¢¸±×ܾÀí£¬ÖØÇ춫Դ²úҵͶ×ʹɷÝÓÐÏÞ¹«Ë¾¶Ê³¤£¬ÖØÇì
»úµç¹É·ÝÓÐÏÞ¹«Ë¾¶Ê£¬ÖØÇìÉÏÊй«Ë¾¶Ê³¤Ð»áÃØÊ鳤£¬Î÷ÄÏ֤ȯÓÐÏÞÔðÈι«
˾¶Ê£¬°²³Ï²Æ²ú±£ÏչɷÝÓÐÏÞ¹«Ë¾¸±¶Ê³¤£¬ÖØÇìÒøº£ÈÚ×Ê×âÁÞÓÐÏÞ¹«Ë¾¶ÊÂ
³¤£¬ÖØÇìÖ±Éý»ú²úҵͶ×ÊÓÐÏÞ¹«Ë¾¸±¶Ê³¤£¬»ªÈÚÓ帻¹ÉȨͶ×Ê»ù½ð¹ÜÀíÓÐÏÞ¹«
˾¸±¶Ê³¤£¬Î÷ÄÏÒ©Òµ¹É·ÝÓÐÏÞ¹«Ë¾¶ÀÁ¢¶Ê£¬Î÷ÄÏ֤ȯ¹É·ÝÓÐÏÞ¹«Ë¾¶Ê£¬Î÷
ÄÏ֤ȯ¹É·ÝÓÐÏÞ¹«Ë¾¸±×ܲá£ÏÖÈÎÎ÷ÄÏ֤ȯ¹É·ÝÓÐÏÞ¹«Ë¾¶Ê¡¢×ܲᢵ³Î¯¸±Êé
¼Ç£¬ÖØÇì¹É·ÝתÈÃÖÐÐÄÓÐÏÞÔðÈι«Ë¾¶Ê³¤£¬Î÷Ö¤¹ú¼ÊͶ×ÊÓÐÏÞ¹«Ë¾¶Ê³¤£¬Î÷
Ö¤¹ú¼Ê֤ȯ¹É·ÝÓÐÏÞ¹«Ë¾¶Ê»áÖ÷ϯ£¬ÖØÇìÖÙ²ÃίÖÙ²ÃÔ±£¬ÖØÇìÊÐ֤ȯÆÚ»õÒµÐ
»á»á³¤¡£
ÍõÁ¢ÐÂÏÈÉú£º¶Ê£¬×ܾÀí£¬¾¼Ãѧ²©Ê¿¡£Öйú֤ȯͶ×Ê»ù½ðÐÐÒµ×îÔçµÄ´Ó
ÒµÕßÖ®Ò»£¬´ÓÒµ¾Ñ鳬¹ý20Äê¡£Ëû²ÎÓ봴ʼµÄÄÏ·½»ù½ðºÍÄ¿Ç°Áìµ¼µÄÒø»ª»ù½ð
ÊÇÖйúÓÅÐãµÄ»ù½ð¹ÜÀí¹«Ë¾¡£Ôø¾Í¶ÁÓÚ±±¾©´óѧÕÜѧϵ¡¢ÖÐÑ뵳УÑо¿Éú²¿¡¢ÖÐ
¹úÉç»á¿ÆѧԺÑо¿Éú²¿¡¢³¤½ÉÌѧԺEMBA¡£ÏȺó¾ÍÖ°ÓÚÖйú¹¤ÉÌÒøÐÐ×ÜÐС¢ÖÐ
¹úÅ©´å·¢Õ¹ÐÅÍÐͶ×ʹ«Ë¾¡¢ÄÏ·½Ö¤È¯¹É·ÝÓÐÏÞ¹«Ë¾»ù½ð²¿£»²ÎÓë³ï½¨ÄÏ·½»ù½ð¹Ü
ÀíÓÐÏÞ¹«Ë¾£¬²¢ÀúÈÎÄÏ·½»ù½ðÑо¿¿ª·¢²¿¡¢Êг¡ÍØÕ¹²¿×ܼࡣÏÖÈÎÒø»ª»ù½ð¹ÜÀí
¹É·ÝÓÐÏÞ¹«Ë¾×ܾÀí¡¢Òø»ª×ʱ¾¹ÜÀí£¨Ö麣ºáÇÙ£©ÓÐÏÞ¹«Ë¾¶Ê³¤¡¢Òø»ª»ù½ðͶ
×ʾö²ßίԱ»áÖ÷ϯ¡£´ËÍ⣬¼æÈÎÖйú»ù½ðҵлáÀíÊ¡¢Ïãɽ²Æ¸»ÂÛ̳·¢ÆðÀíÊ¡¢
ÃØÊ鳤¡¢Ïãɽ²Æ¸»¹ÜÀíÑо¿ÔºÔº³¤¡¢¡¶Öйú֤ȯͶ×Ê»ù½ðÄê¼ø¡·¸±Ö÷±à¡¢¡¶Ö¤È¯
ʱ±¨¡·µÚÈý½ìר¼ÒίԱ»áίԱ¡¢±±¾©´óѧУÓÑ»áÀíÊ¡¢±±¾©´óѧÆóÒµ¼Ò¾ãÀÖ²¿Àí
Ê¡¢±±¾©´óѧÕÜѧϵϵÓÑ»áÃØÊ鳤¡¢±±¾©´óѧ½ðÈÚУÓÑÁªºÏ»á¸±»á³¤¡£
Ö£±üÎÄÏÈÉú£º¶ÀÁ¢¶Ê£¬¾¼Ãѧ²©Ê¿£¬½ÌÊÚ£¬²©Ê¿Éúµ¼Ê¦£¬ÔøÈÎÖйúÉç»á¿Æ
ѧԺÑо¿ÉúÔº¸±Ôº³¤£¬Å·ÖÞËù¸±Ëù³¤£¬ÀÃÀËùËù³¤ºÍÃÀ¹úËùËù³¤¡£ÏÖÈεÚÊ®Èý½ì
È«¹úÕþÐίԱ£¬ÖйúÉç¿ÆÔºÊÀ½çÉç±£Ñо¿ÖÐÐÄÖ÷ÈΣ¬Ñо¿ÉúÔº½ÌÊÚ¡¢²©Ê