¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý
֤ȯͶ×Ê»ù½ð¸üÐÂÕÐļ˵Ã÷Êé
(2021Äê06ÔÂ16ÈÕ¸üÐÂ)
»ù½ð¹ÜÀíÈË£º¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾
»ù½ðÍйÜÈË£ºÖйúÒøÐйɷÝÓÐÏÞ¹«Ë¾
ÖØÒªÌáʾ
¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð£¨ÒÔϼò³Æ¡°±¾»ù½ð¡±£©¸ù¾Ý
2013Äê2ÔÂ16ÈÕÖйú֤ȯ¼à¶½¹ÜÀíίԱ»á¡¶¹ØÓÚºË×¼¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·Åʽ
Ö¸Êý֤ȯͶ×Ê»ù½ð¼°ÆäÁª½Ó»ù½ðļ¼¯µÄÅú¸´¡·£¨Ö¤¼àÐí¿É×Ö[2013]153ºÅ£©µÄºË×¼¹«¿ª·¢ÊÛ¡£
±¾»ù½ð»ù½ðºÏͬÓÚ2013Äê5ÔÂ10ÈÕÕýʽÉúЧ£¬×Ô¸ÃÈÕÆð±¾»ù½ð¹ÜÀíÈËÕýʽ¿ªÊ¼¹ÜÀí±¾»ù
½ð¡£
±¾ÕÐļ˵Ã÷ÊéÊǶÔÔ¡¶¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ðÕÐļ˵Ã÷
Êé¡·µÄ¸üУ¬ÔÕÐļ˵Ã÷ÊéÓë±¾ÕÐļ˵Ã÷Êé²»Ò»Öµģ¬ÒÔ±¾ÕÐļ˵Ã÷ÊéΪ׼¡£»ù½ð¹ÜÀíÈ˱£
Ö¤±¾ÕÐļ˵Ã÷ÊéµÄÄÚÈÝÕæʵ¡¢×¼È·¡¢ÍêÕû¡£±¾ÕÐļ˵Ã÷Êé¾ÖйúÖ¤¼à»áºË×¼£¬µ«ÖйúÖ¤¼à
»á¶Ô±¾»ù½ðļ¼¯µÄºË×¼£¬²¢²»±íÃ÷Æä¶Ô±¾»ù½ðµÄ¼ÛÖµºÍÊÕÒæ×÷³öʵÖÊÐÔÅжϻò±£Ö¤£¬Ò²²»
±íÃ÷Ͷ×ÊÓÚ±¾»ù½ðûÓзçÏÕ¡£Í¶×ÊÕßÈϹº»òÉ깺»ù½ð·Ý¶îʱӦÈÏÕæÔĶÁ±¾ÕÐļ˵Ã÷Êé¡£
±¾»ù½ðͶ×ÊÓÚ֤ȯÊг¡£¬»ù½ð¾»Öµ»áÒòΪ֤ȯÊг¡²¨¶¯µÈÒòËزúÉú²¨¶¯£¬Í¶×ÊÕ߸ù¾Ý
Ëù³ÖÓеĻù½ð·Ý¶îÏíÊÜ»ù½ðÊÕÒ棬ͬʱ³Ðµ£ÏàÓ¦µÄͶ×Ê·çÏÕ¡£Í¶×ÊÕßÔÚͶ×ʱ¾»ù½ðÇ°£¬Ó¦
È«ÃæÁ˽Ȿ»ù½ðµÄ²úÆ·ÌØÐÔ£¬³ä·Ö¿¼ÂÇ×ÔÉíµÄ·çÏÕ³ÐÊÜÄÜÁ¦£¬ÀíÐÔÅжÏÊг¡£¬²¢³Ðµ£»ù½ð
Ͷ×ÊÖгöÏֵĸ÷Àà·çÏÕ£¬°üÀ¨£ºÒòÕþÖΡ¢¾¼Ã¡¢Éç»áµÈ»·¾³ÒòËضÔ֤ȯ¼Û¸ñ²úÉúÓ°Ïì¶øÐÎ
³ÉµÄϵͳÐÔ·çÏÕ¡¢¸ö±ð֤ȯÌØÓеķÇϵͳÐÔ·çÏÕ¡¢»ù½ð¹ÜÀíÈËÔÚ»ù½ð¹ÜÀíʵʩ¹ý³ÌÖвúÉú
µÄ»ù½ð¹ÜÀí·çÏÕ¡¢±¾»ù½ðµÄÌض¨·çÏյȵȡ£±¾»ù½ðÖ÷Òª²ÉÓôú±íÐÔ·Ö²ã³éÑù¸´ÖƲßÂÔ£¬±¾
»ù½ðͶ×Ê×éºÏÓë±êµÄÖ¸Êý¹¹³É¿ÉÄÜ´æÔÚ²îÒ죬ͬʱÓÉÓÚ±¾»ù½ð·ÑÓᢽ»Ò׳ɱ¾¡¢Ö¸Êý³É·Ý
ȯȡ¼Û¹æÔòºÍ»ù½ð¹ÀÖµ·½·¨Ö®¼äµÄ²îÒìµÈÒòËØ£¬¿ÉÄÜÔì³É±¾»ù½ðʵ¼ÊÊÕÒæÂÊÓëÖ¸ÊýÊÕÒæÂÊ
´æÔÚÆ«Àë¡£±¾»ù½ðΪծȯÐÍ»ù½ð£¬Æ䳤ÆÚƽ¾ù·çÏÕºÍÔ¤ÆÚÊÕÒæÂʵÍÓÚ¹ÉƱÐÍ»ù½ð¡¢»ìºÏÐÍ
»ù½ð£¬¸ßÓÚ»õ±ÒÊг¡»ù½ð£¬²¢¾ßÓÐÓë±êµÄÖ¸Êý¡¢ÒÔ¼°±êµÄÖ¸ÊýËù´ú±íµÄծȯÊг¡ÏàËƵķç
ÏÕÊÕÒæÌØÕ÷¡£
Ͷ×ÊÕßͶ×ÊÓÚ±¾»ù½ð¿ÉÄÜÃæÁÙ¸ú×ÙÎó²î¿ØÖÆδ´ïÔ¼¶¨Ä¿±ê¡¢Ö¸Êý±àÖÆ»ú¹¹Í£Ö¹·þÎñ¡¢
³É·ÝȯͣÅƵÈDZÔÚ·çÏÕ£¬Ïê¼û±¾»ù½ðÕÐļ˵Ã÷Êé¡°·çÏÕ½Òʾ¡±Õ½ڡ£
±¾»ù½ð±êµÄÖ¸ÊýΪÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®Ö¸Êý¡£
¸ÃÖ¸ÊýÑù±¾ÓÉÊ£ÓàÆÚÏÞ 4 ÄêÒÔÉÏ£¬7 ÄêÒÔÏÂÇÒÔÚ»¦Éî½»Ò×ËùºÍÒøÐмäÊг¡ÉÏÊн»Ò×µÄ
¹úÕ®×é³É¡£Ö¸Êý²ÉÓÃÊÐÖµ¼ÓȨ¼ÆË㣬ÒÔ·´Ó³È«Êг¡ÏàÓ¦ÆÚÏÞ¹úÕ®µÄ±íÏÖ¡£
ÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®Ö¸ÊýµÄÑù±¾ÓÉÂú×ãÒÔÏÂÌõ¼þµÄծȯ¹¹³É£º
1£©Õ®È¯ÖÖÀࣺÔÚ»¦Éî½»Ò×ËùºÍÒøÐмäÊг¡ÉÏÊеĹúÕ®£»
2£©Õ®È¯±ÒÖÖΪÈËÃñ±Ò£»
3£©Õ®È¯Ê£ÓàÆÚÏÞ£º4 ÄêÒÔÉÏ£¬7 ÄêÒÔÏ£»
4£©¸¶Ï¢·½Ê½£º¹Ì¶¨ÀûÂʸ¶Ï¢»òÒ»´Î»¹±¾¸¶Ï¢£»
ÓйرêµÄÖ¸Êý¾ßÌå±àÖÆ·½°¸¼°³É·ÝȯÐÅÏ¢Ïê¼ûÖÐÖ¤Ö¸ÊýÓÐÏÞ¹«Ë¾ÍøÕ¾£¬ÍøÖ·£º
www.csindex.com.cn¡£
Ͷ×ÊÕßÔÚͶ×ʱ¾»ù½ð֮ǰ£¬Çë×ÐϸÔĶÁ±¾»ù½ðµÄÕÐļ˵Ã÷Êé¡¢»ù½ðºÏͬºÍ»ù½ð²úÆ·×Ê
ÁϸÅÒª£¬È«ÃæÈÏʶ±¾»ù½ðµÄ·çÏÕÊÕÒæÌØÕ÷ºÍ²úÆ·ÌØÐÔ£¬²¢³ä·Ö¿¼ÂÇ×ÔÉíµÄ·çÏÕ³ÐÊÜÄÜÁ¦£¬
ÀíÐÔÅжÏÊг¡£¬½÷É÷×ö³öͶ×ʾö²ß¡£
»ù½ðµÄ¹ýÍùÒµ¼¨²¢²»Ô¤Ê¾ÆäδÀ´±íÏÖ¡£»ù½ð¹ÜÀíÈ˳ÐŵÒÔ㡾¡Ö°ÊØ¡¢³ÏʵÐÅÓᢽ÷É÷
ÇÚÃãµÄÔÔò¹ÜÀíºÍÔËÓûù½ð²Æ²ú£¬µ«²»±£Ö¤»ù½ðÒ»¶¨Ó¯Àû£¬Ò²²»ÏòͶ×ÊÕß±£Ö¤×îµÍÊÕÒæ
±¾ÕÐļ˵Ã÷ÊéÒѾ±¾»ù½ðÍйÜÈ˸´ºË¡£±¾ÕÐļ˵Ã÷ÊéËùÔØÄÚÈݽØÖ¹ÈÕΪ2021Äê5ÔÂ19
ÈÕ,ÓйزÆÎñÊý¾ÝºÍ¾»Öµ±íÏÖ½ØÖ¹ÈÕΪ2021Äê3ÔÂ31ÈÕ£¨Î´¾Éó¼Æ£©£¬ÌرðÊÂÏî×¢Ã÷³ýÍâ¡£
Ŀ¼
Ò»¡¢Ð÷ÑÔ........................................................................................................................................... 4
¶þ¡¢ÊÍÒå........................................................................................................................................... 5
Èý¡¢»ù½ð¹ÜÀíÈË ............................................................................................................................. 10
ËÄ¡¢»ù½ðÍйÜÈË ............................................................................................................................. 20
Îå¡¢Ïà¹Ø·þÎñ»ú¹¹ ......................................................................................................................... 22
Áù¡¢»ù½ðµÄļ¼¯ ............................................................................................................................. 27
Æß¡¢»ù½ðºÏͬµÄÉúЧ ..................................................................................................................... 32
°Ë¡¢»ù½ð·Ý¶îµÄ½»Ò× ..................................................................................................................... 33
¾Å¡¢»ù½ð·Ý¶îµÄÉ깺,Êê»Ø ............................................................................................................ 35
Ê®¡¢»ù½ðµÄ·Ç½»Ò×¹ý»§µÈÆäËûÒµÎñ ............................................................................................. 45
ʮһ¡¢»ù½ðµÄͶ×Ê ......................................................................................................................... 46
Ê®¶þ¡¢»ù½ðµÄÒµ¼¨ ......................................................................................................................... 55
Ê®Èý¡¢»ù½ðµÄÈÚ×Ê¡¢ÈÚȯ ............................................................................................................. 57
Ê®ËÄ¡¢»ù½ðµÄ²Æ²ú ......................................................................................................................... 57
Ê®Îå¡¢»ù½ð×ʲú¹ÀÖµ ..................................................................................................................... 58
Ê®Áù¡¢»ù½ðµÄÊÕÒæÓë·ÖÅä ............................................................................................................. 61
Ê®Æß¡¢»ù½ðµÄ·ÑÓÃÓëË°ÊÕ ............................................................................................................. 62
Ê®°Ë¡¢»ù½ðµÄ»á¼ÆÓëÉó¼Æ ............................................................................................................. 64
Ê®¾Å¡¢»ù½ðµÄÐÅÏ¢Åû¶ ................................................................................................................. 65
¶þÊ®¡¢·çÏÕ½Òʾ ............................................................................................................................. 69
¶þʮһ¡¢»ù½ðºÏͬµÄ±ä¸ü¡¢ÖÕÖ¹ºÍ»ù½ð²Æ²úµÄÇåËã ................................................................. 75
¶þÊ®¶þ¡¢»ù½ðºÏͬµÄÄÚÈÝÕªÒª ..................................................................................................... 77
¶þÊ®Èý¡¢»ù½ðÍйÜÐÒéµÄÄÚÈÝÕªÒª ............................................................................................. 88
¶þÊ®ËÄ¡¢¶Ô»ù½ð·Ý¶î³ÖÓÐÈË·þÎñ ................................................................................................. 98
¶þÊ®Îå¡¢ÆäËûÓ¦Åû¶ÊÂÏî ............................................................................................................. 99
¶þÊ®Áù¡¢ÕÐļ˵Ã÷Êé´æ·Å¼°²éÔÄ·½Ê½ ....................................................................................... 100
¶þÊ®Æß¡¢±¸²éÎļþ ....................................................................................................................... 101
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÷Êé
µÄÄÚÈÝÓë¸ñʽ£¾¡·µÈÓйط¨ÂÉ·¨¹æÒÔ¼°¡¶¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê
»ù½ð»ù½ðºÏͬ¡·±àд¡£
»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¶¨»ù½ð
µ±ÊÂÈËÖ®¼äȨÀû¡¢ÒåÎñµÄ·¨ÂÉÎļþ¡£Èç±¾ÕÐļ˵Ã÷ÊéÄÚÈÝÓë»ù½ðºÏͬÓгåÍ»»ò²»Ò»ÖÂÖ®´¦£¬
¾ùÒÔ»ù½ðºÏͬΪ׼¡£»ù½ðͶ×ÊÕß×ÔÒÀ»ù½ðºÏͬȡµÃ»ù½ð·Ý¶î,¼´³ÉΪ»ù½ð·Ý¶î³ÖÓÐÈ˺ͻù½ð
ºÏͬµÄµ±ÊÂÈË,Æä³ÖÓлù½ð·Ý¶îµÄÐÐΪ±¾Éí¼´±íÃ÷Æä¶Ô»ù½ðºÏͬµÄ³ÐÈϺͽÓÊÜ,²¢°´ÕÕ¡¶»ù½ð
·¨¡·¡¢»ù½ðºÏͬ¼°ÆäËûÓйع涨ÏíÓÐȨÀû¡¢³Ðµ£ÒåÎñ¡£»ù½ðͶ×ÊÕßÓûÁ˽â»ù½ð·Ý¶î³ÖÓÐÈ˵Ä
ȨÀûºÍÒåÎñ,Ó¦Ïêϸ²éÔÄ»ù½ðºÏͬ¡£
¶þ¡¢ÊÍÒå
±¾ÕÐļ˵Ã÷ÊéÖгý·ÇÎÄÒâÁíÓÐËùÖ¸,ÏÂÁдÊÓïÓÐÈçϺ¬Ò壺
»ù½ð»ò±¾»ù½ð Ö¸¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð£»
»ù½ðºÏͬ Ö¸¡¶¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð»ù½ðºÏͬ¡·¼°¶Ô»ù½ðºÏͬµÄÈκÎÓÐЧÐÞ¶©ºÍ²¹³ä£»
ÕÐļ˵Ã÷Êé»ò±¾ÕÐļ˵Ã÷Êé Ö¸¡¶¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ðÕÐļ˵Ã÷Êé¡·¼°Æä¸üУ»
»ù½ð·Ý¶î·¢ÊÛ¹«¸æ Ö¸¡¶¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð»ù½ð·Ý¶î·¢ÊÛ¹«¸æ¡·£»
ÍйÜÐÒé Ö¸¡¶¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ðÍйÜÐÒé¡·¼°ÆäÈκÎÓÐЧÐÞ¶©ºÍ²¹³ä£»
Öйú ÖлªÈËÃñ¹²ºÍ¹ú(½öΪ±¾ÕÐļ˵Ã÷ÊéÄ¿µÄ²»°üÀ¨Ïã¸ÛÌرðÐÐÕþÇø¡¢°ÄÃÅÌرðÐÐÕþÇø¼°Ì¨ÍåµØÇø)£»
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×Ô2004Äê6ÔÂ1ÈÕÆðʵʩµÄ¡¶ÖлªÈËÃñ¹²ºÍ¹ú֤ȯͶ×Ê»ù½ð·¨¡·¼°²»Ê±×ö³öµÄÐÞ¶©£»
¡¶ÏúÊÛ°ì·¨¡· Ö¸2011Äê6ÔÂ9ÈÕÓÉÖйúÖ¤¼à»á¹«²¼²¢ÓÚ2011Äê10ÔÂ1ÈÕÆðʵʩµÄ¡¶Ö¤È¯Í¶×Ê»ù½ðÏúÊÛ¹ÜÀí°ì·¨¡·¼°²»Ê±×ö³öµÄÐÞ¶©£»
¡¶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°°ä²¼»ú¹Ø¶ÔÆ䲻ʱ×ö³öµÄÐÞ¶©£»
Éî½»Ëù¡¶ÒµÎñϸÔò¡· Ö¸¡¶ÉîÛÚ֤ȯ½»Ò×Ëù½»Ò×ÐÍ¿ª·ÅʽָÊý»ù½ðÒµÎñʵʩϸÔò¡·¼°ÓÐȨ»ú¹Ø¶Ô¸ÃÎļþ²»Ê±ÐÞ¶©»ò¸üеİ汾£»
½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð Ö¸¡¶ÉîÛÚ֤ȯ½»Ò×Ëù½»Ò×ÐÍ¿ª·ÅʽָÊý»ù½ðÒµÎñʵʩϸÔò¡·¶¨ÒåµÄ¡°½»Ò×ÐÍ¿ª·ÅʽָÊý»ù½ð¡±£¬¼´ÊÇÖ¸¾ÒÀ·¨Ä¼¼¯µÄ£¬ÒÔ¸ú×ÙÌض¨Ö¤È¯Ö¸ÊýΪĿ±êµÄ¿ª·Åʽ»ù½ð£¬Æä»ù½ð·Ý¶îÓÃ×éºÏ֤ȯ¡¢ÏÖ½ðµÈ»ù½ðºÏͬԼ¶¨µÄ¶Ô¼Û½øÐÐÉ깺¡¢Êê»Ø£¬²¢ÔÚÉîÛÚ֤ȯ½»Ò×ËùÉÏÊн»Ò×£»
ETFÁª½Ó»ù½ð Ö¸½«¾ø´ó¶àÊý»ù½ð²Æ²úͶ×ÊÓÚ±¾»ù½ð£¬Óë±¾»ù½ðµÄͶ×ÊÄ¿±êÀàËÆ£¬½ôÃܸú×ÙÒµ¼¨±È½Ï»ù×¼£¬×·Çó¸ú×ÙÆ«Àë¶ÈºÍ¸ú×ÙÎó²î×îС»¯£¬²ÉÓÿª·ÅʽÔË×÷·½Ê½µÄ»ù½ð£»
Ôª Ö¸ÈËÃñ±ÒÔª£»
»ù½ð¹ÜÀíÈË Ö¸¼Îʵ»ù½ð¹ÜÀíÓÐÏÞ¹«Ë¾£»
»ù½ðÍйÜÈË Ö¸ÖйúÒøÐйɷÝÓÐÏÞ¹«Ë¾£»
µÇ¼Ç½áËãÒµÎñ Ö¸¡¶Öйú֤ȯµÇ¼Ç½áËãÓÐÏÞÔðÈι«Ë¾¹ØÓÚÉîÛÚ֤ȯ½»Ò×Ëù½»Ò×ÐÍ¿ª·Åʽ»ù½ðµÇ¼Ç½áËãÒµÎñʵʩϸÔò¡·£¨°üÀ¨¶Ô¸ÃÎļþ²»Ê±Ð޸Ļò¸üеİ汾£©¶¨ÒåµÄ»ù½ð·Ý¶îµÄµÇ¼Ç¡¢´æ¹Ü¡¢½áËã¼°Ïà¹ØÒµÎñ£»
µÇ¼Ç½áËã»ú¹¹ Ö¸°ìÀí±¾»ù½ðµÇ¼Ç½áËãÒµÎñµÄ»ú¹¹¡£±¾»ù½ðµÄµÇ¼Ç½áËã»ú¹¹ÎªÖйú֤ȯµÇ¼Ç½áËãÓÐÏÞÔðÈι«Ë¾£»
Ͷ×ÊÕß Ö¸¸öÈËͶ×ÊÕß¡¢»ú¹¹Í¶×ÊÕß¡¢ºÏ¸ñ¾³Íâ»ú¹¹Í¶×ÊÕߺͷ¨ÂÉ·¨¹æ»òÖйúÖ¤¼à»áÔÊÐí¹ºÂò֤ȯͶ×Ê»ù½ðµÄÆäËûͶ×ÊÕߣ»
¸öÈËͶ×ÊÕß Ö¸ÒÀ¾ÝÖйúÓйط¨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¸·ûºÏÏà¹Ø·¨ÂÉ·¨¹æ¹æ¶¨¿ÉÒÔͶ×ÊÓÚÔÚÖйú¾³ÄÚÒÀ·¨Ä¼¼¯µÄ֤ȯͶ×Ê»ù½ðµÄÖйú¾³ÍâµÄ»ú¹¹Í¶×ÊÕߣ»
»ù½ð·Ý¶î³ÖÓÐÈË´ó»á Ö¸°´ÕÕ»ù½ðºÏͬµÚÊ®²¿·ÖÖ®¹æ¶¨ÕÙ¼¯¡¢ÕÙ¿ª²¢ÓÉ»ù½ð·Ý¶î³ÖÓÐÈË»òÆäºÏ·¨µÄ´úÀíÈ˽øÐбí¾öµÄ»áÒ飻
»ù½ðļ¼¯ÆÚ Ö¸»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéÖÐÔØÃ÷£¬²¢¾ÖйúÖ¤¼à»áºË×¼µÄ»ù½ð·Ý¶îļ¼¯ÆÚÏÞ£¬×Ô»ù½ð·Ý¶î·¢ÊÛÖ®ÈÕÆð×²»³¬¹ý3¸öÔ£»
»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¸»ù½ðºÏͬÉúЧÖÁÖÕÖ¹Ö®¼äµÄ²»¶¨ÆÚÆÚÏÞ£»
¹¤×÷ÈÕ Ö¸ÉîÛÚ֤ȯ½»Ò×ËùµÄÕý³£½»Ò×ÈÕ£»
ÈϹº Ö¸ÔÚ»ù½ðļ¼¯ÆÚÄÚ£¬Í¶×ÊÕß°´ÕÕ»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéµÄ¹æ¶¨ÉêÇ빺Âò±¾»ù½ð»ù½ð·Ý¶îµÄÐÐΪ£»
É깺 Ö¸ÔÚ»ù½ðºÏͬÉúЧºóµÄ´æÐøÆڼ䣬Ͷ×ÊÕß°´ÕÕ»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéÉêÇ빺Âò±¾»ù½ð»ù½ð·Ý¶îµÄÐÐΪ£»
Êê»Ø Ö¸ÔÚ»ù½ðºÏͬÉúЧºóµÄ´æÐøÆڼ䣬»ù½ð·Ý¶î³ÖÓÐÈË°´»ù½ðºÏͬºÍÕÐļ˵Ã÷Êé¹æ¶¨µÄÌõ¼þÉêÇ뽫Æä³ÖÓеı¾»ù½ð»ù½ð·Ý¶î¶Ò»»Îª»ù½ðºÏͬԼ¶¨µÄ¶Ô¼Û×ʲúµÄÐÐΪ£»
É깺Êê»ØÇåµ¥ Ö¸ÓÉ»ù½ð¹ÜÀíÈ˱àÖƵÄÓÃÒÔ¹«¸æÉ깺¶Ô¼Û¡¢Êê»Ø¶Ô¼ÛµÈÐÅÏ¢µÄÎļþ£»
É깺¶Ô¼Û Ͷ×ÊÕßÉ깺»ù½ð·Ý¶îʱ£¬°´ÕÐļ˵Ã÷Êé¹æ¶¨Ó¦½»¸¶µÄ×éºÏ֤ȯ¡¢ÏÖ½ðÌæ´ú¡¢ÏÖ½ð²î¶î¼°ÆäËû¶Ô¼Û£»
Êê»Ø¶Ô¼Û »ù½ð·Ý¶î³ÖÓÐÈËÊê»Ø»ù½ð·Ý¶îʱ£¬»ù½ð¹ÜÀíÈË°´ÕÐļ˵Ã÷Êé¹æ¶¨Ó¦½»¸¶¸øÊê»ØÈ˵Ä×éºÏ֤ȯ¡¢ÏÖ½ðÌæ´ú¡¢ÏÖ½ð²î¶î¼°ÆäËû¶Ô¼Û£»
±êµÄÖ¸Êý ÖÐÖ¤Ö¸ÊýÓÐÏÞ¹«Ë¾±àÖƲ¢·¢²¼µÄÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®Ö¸Êý¼°ÆäδÀ´¿ÉÄÜ·¢ÉúµÄ±ä¸ü£»
×éºÏ֤ȯ Ö¸±¾»ù½ð±êµÄÖ¸ÊýËù°üº¬µÄÈ«²¿»ò²¿·Ö֤ȯ£»
×îСÉ깺Êê»Øµ¥Î» ±¾»ù½ðÉ깺·Ý¶î¡¢Êê»Ø·Ý¶îµÄ×îµÍÊýÁ¿£¬Í¶×ÊÕßÉ깺»òÊê»ØµÄ»ù½ð·Ý¶îӦΪ×îСÉ깺Êê»Øµ¥Î»µÄÕûÊý±¶£»
ÏÖ½ðÌæ´ú É깺»òÊê»Ø¹ý³ÌÖУ¬Í¶×ÊÕß°´»ù½ðºÏͬºÍÕÐļ˵Ã÷ÊéµÄ¹æ¶¨£¬ÓÃÓÚÌæ´ú×éºÏ֤ȯÖв¿·Ö֤ȯµÄÒ»¶¨ÊýÁ¿µÄÏÖ½ð£»
ÏÖ½ð²î¶î ×îСÉ깺Êê»Øµ¥Î»µÄ×ʲú¾»ÖµÓë°´µ±ÈÕ¹Àֵȫ¼Û¼ÆËãµÄ×îСÉ깺Êê»Øµ¥Î»ÖеÄ×éºÏ֤ȯÊÐÖµºÍÏÖ½ðÌæ´úÖ®²î£»Í¶×ÊÕßÉ깺»òÊê»ØʱӦ֧¸¶»òÓ¦»ñµÃµÄÏÖ½ð²î¶î¸ù¾Ý×îСÉ깺Êê»Øµ¥Î»¶ÔÓ¦µÄÏÖ½ð²î¶î¡¢É깺»òÊê»ØµÄ»ù½ð·Ý¶îÊý¼ÆË㣻
Ô¤¹ÀÏÖ½ð²¿·Ö ÓÉ»ù½ð¹ÜÀíÈ˼ÆËã²¢ÔÚTÈÕÉ깺Êê»ØÇåµ¥Öй«²¼µÄµ±ÈÕÏÖ½ð²î¶îÔ¤¹ÀÖµ£¬Ô¤¹ÀÏֽ𲿷ÖÓÉÉ깺Êê»Ø´úÀíȯÉÌÔ¤Ïȶ³½á£»
Ö¸Áî Ö¸»ù½ð¹ÜÀíÈËÔÚ¹ÜÀí»ù½ð×ʲúʱ£¬Ïò»ù½ðÍйÜÈË·¢³öµÄ×ʽ𻮲¦¼°ÊµÎïȯµ÷²¦µÈÖ¸Á
´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£¬°üÀ¨·¢ÊÛ´úÀí»ú¹¹ºÍÉ깺Êê»Ø´úÀíȯÉÌ£¨´ú°ì֤ȯ¹«Ë¾£©£»
ÏúÊÛ»ú¹¹ Ö¸»ù½ð¹ÜÀíÈ˼°±¾»ù½ð´úÏú»ú¹¹£»
»ù½ðÏúÊÛÍøµã Ö¸»ù½ð¹ÜÀíÈ˵ÄÖ±ÏúÖÐÐļ°»ù½ð´úÏú»ú¹¹µÄ´úÏúÍøµã£»
·¢ÊÛ´úÀí»ú¹¹ Ö¸·ûºÏ¡¶ÏúÊÛ°ì·¨¡·ºÍÖйúÖ¤¼à»á¹æ¶¨µÄÆäËûÌõ¼þ£¬ÓÉ»ù½ð¹ÜÀíÈËÖ¸¶¨µÄ´úÀí±¾»ù½ð·¢ÊÛÒµÎñµÄ»ú¹¹£»
É깺Êê»Ø´úÀíȯÉÌ ·ûºÏ¡¶ÏúÊÛ°ì·¨¡·ºÍÖйúÖ¤¼à»á¹æ¶¨µÄÆäËûÌõ¼þ£¬ÓÉ»ù½ð¹ÜÀíÈËÖ¸¶¨µÄ°ìÀí±¾»ù½ðÉ깺¡¢Êê»ØÒµÎñµÄ֤ȯ¹«Ë¾£¬ÓÖ³ÆΪ´ú°ì֤ȯ¹«Ë¾£»
Ö¸¶¨Ã½½é Ö¸ÖйúÖ¤¼à»áÖ¸¶¨µÄÓÃÒÔ½øÐÐÐÅÏ¢Åû¶µÄÈ«¹úÐÔ±¨¿¯¼°Ö¸¶¨»¥ÁªÍøÍøÕ¾£¨°üÀ¨»ù½ð¹ÜÀíÈËÍøÕ¾¡¢»ù½ðÍйÜÈËÍøÕ¾¡¢ÖйúÖ¤¼à»á»ù½ðµç×ÓÅû¶ÍøÕ¾£©µÈý½é£»
¿ª·ÅÈÕ Ö¸ÎªÍ¶×ÊÕß°ìÀí»ù½ðÉ깺¡¢Êê»ØµÈÒµÎñµÄ¹¤×÷ÈÕ£»
TÈÕ Ö¸Í¶×ÊÕßÏòÏúÊÛ»ú¹¹Ìá³öÉ깺¡¢Êê»Ø»òÆäËûÒµÎñÉêÇëµÄ¿ª·ÅÈÕ£»
T+nÈÕ Ö¸TÈպ󣨲»°üÀ¨TÈÕ£©µÚn¸ö¹¤×÷ÈÕ£¬nÖ¸×ÔÈ»Êý£»
ÊÕÒæÆÀ¼ÛÈÕ Ö¸»ù½ð¹ÜÀíÈ˼ÆËã±¾»ù½ð¾»ÖµÔö³¤ÂÊÓë±êµÄÖ¸ÊýÔö³¤Âʲî¶îÖ®ÈÕ£»
»ù½ð¾»ÖµÔö³¤ÂÊ ÊÕÒæÆÀ¼ÛÈÕ»ù½ð·Ý¶î¾»ÖµÓë»ù½ðÉÏÊÐÇ°Ò»ÈÕ»ù½ð·Ý¶î¾»ÖµÖ®±È¼õÈ¥1³ËÒÔ100%£¨ÆÚ¼äÈç·¢Éú»ù½ð·Ý¶îÕÛË㣬ÔòÒÔ»ù½ð·Ý¶îÕÛËãÈÕΪ³õʼÈÕÖØмÆË㣩£»
±êµÄÖ¸ÊýͬÆÚÔö³¤ÂÊ ÊÕÒæÆÀ¼ÛÈÕ±êµÄÖ¸ÊýÊÕÅÌÖµÓë»ù½ðÉÏÊÐÇ°Ò»ÈÕ±êµÄÖ¸ÊýÊÕÅÌÖµÖ®±È¼õÈ¥1³ËÒÔ100%£¨ÆÚ¼äÈç·¢Éú»ù½ð·Ý¶îÕÛË㣬ÔòÒÔ»ù½ð·Ý¶îÕÛËãÈÕΪ³õʼÈÕÖØмÆË㣩£»
»ù½ð×ʲú×ÜÖµ Ö¸»ù½ð³ÖÓеĸ÷ÀàÓмÛ֤ȯ¡¢ÒøÐдæ¿î±¾Ï¢¡¢Ó¦ÊÕ¿îÏîÒÔ¼°ÒÔÆäËû×ʲúµÈÐÎʽ´æÔڵĻù½ð×ʲúµÄ¼ÛÖµ×ܺͣ»
»ù½ð×ʲú¾»Öµ Ö¸»ù½ð×ʲú×ÜÖµ¼õÈ¥»ù½ð¸ºÕ®ºóµÄ¼ÛÖµ£»
»ù½ð·Ý¶î¾»Öµ Ö¸ÒÔ¼ÆËãÈÕ»ù½ð×ʲú¾»Öµ³ýÒÔ¼ÆËãÈÕ»ù½ð·Ý¶îÓà¶îËùµÃµÄµ¥Î»»ù½ð·Ý¶îµÄ¼ÛÖµ£»
»ù½ð×ʲú¹ÀÖµ Ö¸¼ÆËã¡¢ÆÀ¹À»ù½ð×ʲúºÍ¸ºÕ®µÄ¼ÛÖµ£¬ÒÔÈ·¶¨»ù½ð×ʲú¾»ÖµºÍ»ù½ð·Ý¶î¾»ÖµµÄ¹ý³Ì£»
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¬ÐÒéÔ¼¶¨ÓÐÌõ¼þÌáǰ֧ȡµÄÒøÐдæ¿î£©¡¢×ʲúÖ§³Ö֤ȯ¡¢Òò·¢ÐÐÈËÕ®ÎñÎ¥Ô¼ÎÞ·¨½øÐÐתÈûò½»Ò×µÄծȯµÈ
·¨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¡¢·¨Âɼ°Õþ²ß±ä»¯¡¢Í»·¢Í£µç¡¢µçÄÔϵͳ»òÊý¾Ý´«Êäϵͳ·ÇÕý³£Í£Ö¹ÒÔ¼°ÆäËûÍ»·¢Ê¼þ¡¢Ö¤È¯½»Ò׳¡Ëù·ÇÕý³£ÔÝÍ£»òÍ£Ö¹½»Ò׵ȣ»
»ù½ð²úÆ·×ÊÁϸÅÒª Ö¸¡¶¼ÎʵÖÐÖ¤½ð±ßÖÐÆÚ¹úÕ®½»Ò×ÐÍ¿ª·ÅʽָÊý֤ȯͶ×Ê»ù½ð»ù½ð²úÆ·×ÊÁϸÅÒª¡·¼°Æä¸üС£
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˶ÊÂ,¼àÊÂ,×ܾÀí¼°ÆäËû¹ÜÀíÈËÔ±»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
×ֽܾð·ÉÃñº½¾¼Ã·¢Õ¹ÖÐÐÄ×ܾÀíÖúÀí¼æ֤ȯҵÎñ²¿¾Àí£¬±±¾©³ÇÊÐÌú·¹É·ÝÓÐÏÞ¹«Ë¾×Ü
¾Àí£¬±±¾©ÊйìµÀ½»Í¨½¨Éè¹ÜÀíÓÐÏÞ¹«Ë¾¸±×ܾÀí£¬±±¾©Êб£ÕÏÐÔס·¿½¨ÉèͶ×ÊÖÐÐĸ±×Ü
¾Àí£¬ÖйúÈËÃñ²Æ²ú±£ÏչɷÝÓÐÏÞ¹«Ë¾´¬²°»õÔ˱£ÏÕ²¿×ܾÀí£¬»ªÏÄÒøÐи±Ðг¤£¨¹ÒÖ°£©£¬
ÖйúÈ˱£×ʲú¹ÜÀíÓÐÏÞ¹«Ë¾¸±×ܲᢵ³Î¯Î¯Ô±¡£ÖгÏÐÅÍÐÓÐÏÞÔðÈι«Ë¾¸±×ܲã¨ÄâÈΣ©¡¢µ³
ίίԱ¡£
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£