018\u5e742\u6708\uff0c\u4e2d\u56fd\u7684\u9996\u5e2d\u8c08\u5224\u4ee3\u8868\u8eab\u5904\u534e\u76db\u987f\u8bd5\u56fe\u907f\u514d\u8d38\u6613\u6218\u3002\u5728\u4f1a\u6664\u7f8e\u56fd\u8c08\u5224\u4ee3\u8868\u524d\uff0c\u4ed6\u5148\u4f1a\u89c1\u4e86\u4e00\u7fa4\u7f8e\u56fd\u5546\u754c\u9886\u8896\u2014\u2014\u591a\u6570\u6765\u81ea\u534e\u5c14\u8857\u3002<\/p>\n
\u636e\u77e5\u60c5\u4eba\u58eb\u79f0\uff0c\u5728\u767d\u5bab\u9644\u8fd1\u7684\u4e00\u5bb6\u9152\u5e97\u91cc\uff0c\u4e2d\u56fd\u526f\u603b\u7406\u5218\u9e64\u5bf9\u805a\u96c6\u800c\u6765\u7684\u5ba2\u4eba\u8868\u793a\uff1a\u6211\u4eec\u9700\u8981\u4f60\u4eec\u7684\u5e2e\u52a9\u3002\u8fd9\u4e9b\u5ba2\u4eba\u5305\u62ec\u8d1d\u83b1\u5fb7(BlackRock Inc., BLK)\u9996\u5e2d\u6267\u884c\u5b98\u82ac\u514b(Larry Fink)\u3001\u9ad8\u76db\u96c6\u56e2(Goldman Sachs Group Inc., GS)\u5f53\u65f6\u7684\u4e8c\u628a\u624b\u82cf\u5fb7\u5dcd(David Solomon)\uff0c\u4ee5\u53ca\u5f53\u65f6\u8eab\u4e3a\u6e38\u8bf4\u7ec4\u7ec7\u7f8e\u56fd\u5546\u4e1a\u5706\u684c\u4f1a\u8bae(Business Roundtable)\u4e3b\u5e2d\u7684\u6469\u6839\u5927\u901a\u516c\u53f8(JPMorgan Chase & Co., JPM)\u7684\u6770\u7c73\u00b7\u6234\u8499(Jamie Dimon)\u3002<\/p>\n
\u5728\u4e0e\u7279\u6717\u666e\u653f\u5e9c\u7684\u8d38\u6613\u8c08\u5224\u4e2d\u5bfb\u627e\u76df\u53cb\u7684\u8fc7\u7a0b\u4e2d\uff0c\u4e2d\u56fd\u7684\u9996\u5e2d\u8c08\u5224\u4ee3\u8868\u63d0\u4f9b\u4e86\u4e00\u4e2a\u597d\u5904\u3002\u77e5\u60c5\u4eba\u58eb\u79f0\uff0c\u5317\u4eac\u65b9\u9762\u63d0\u51fa\u7ed9\u4e88\u7f8e\u56fd\u91d1\u878d\u516c\u53f8\u5728\u4e2d\u56fd\u6269\u5927\u4e1a\u52a1\u7684\u65b0\u673a\u4f1a\u3002<\/p>\n
\u5728\u6b64\u6b21\u805a\u4f1a\u4e0d\u4e45\u540e\uff0c\u4e2d\u65b9\u5411\u7f8e\u56fd\u65b9\u9762\u63d0\u51fa\u4e86\u4e2d\u56fd\u7684\u7acb\u573a\uff0c\u5176\u4e2d\u5305\u62ec\u5f00\u653e\u91d1\u878d\u4e1a\u3002\u7f8e\u56fd\u5176\u4ed6\u591a\u6570\u884c\u4e1a\u90fd\u5bf9\u4e2d\u56fd\u7684\u63d0\u8bae\u611f\u5230\u5931\u671b\u3002\u7279\u6717\u666e\u653f\u5e9c\u62d2\u7edd\u4e86\u4e2d\u56fd\u7684\u63d0\u8bae\uff0c\u8ba4\u4e3a\u8be5\u63d0\u8bae\u592a\u8fc7\u72ed\u7a84\uff0c\u5e76\u8ba9\u4e2d\u65b9\u4ee3\u8868\u6253\u5305\u8d70\u4eba\u3002<\/p>\n
\u4f46\u4e2d\u65b9\u6ca1\u6709\u7a7a\u624b\u800c\u5f52\u3002\u8fd9\u573a\u805a\u4f1a\u5e2e\u52a9\u534e\u5c14\u8857\u6210\u4e3a\u8fbe\u6210\u534f\u8bae\u7684\u6700\u5927\u652f\u6301\u8005\u4e4b\u4e00\u3002\u4e2d\u7f8e\u6700\u7ec8\u57281\u6708\u4efd\u7b7e\u7f72\u4e86\u8d38\u6613\u534f\u8bae\uff0c\u5728\u8be5\u534f\u8bae\u4e2d\uff0c\u4e2d\u56fd\u4e00\u4e2a\u7a81\u51fa\u7684\u8ba9\u6b65\u5c31\u662f\u5f00\u653e\u91d1\u878d\u4e1a\u3002<\/p>\n
\u957f\u671f\u4ee5\u6765\u7f8e\u56fd\u7684\u91d1\u878d\u5bb6\u5728\u4e2d\u56fd\u7684\u6743\u529b\u4e2d\u5fc3\u5360\u6709\u7279\u522b\u7684\u5730\u4f4d\uff0c\u4f46\u5230\u76ee\u524d\u4e3a\u6b62\uff0c\u8fd9\u4e9b\u5927\u4f6c\u6240\u5728\u7684\u516c\u53f8\u51e0\u4e4e\u6ca1\u6709\u4ec0\u4e48\u8868\u73b0\u53ef\u8bc1\u660e\u8fd9\u4e00\u70b9\u3002\u7279\u6717\u666e\u653f\u5e9c\u8bd5\u56fe\u8ba9\u7f8e\u4e2d\u4e24\u4e2a\u7ecf\u6d4e\u4f53\u5728\u90e8\u5206\u9886\u57df\u201c\u8131\u94a9\u201d\uff0c\u800c\u5373\u5c06\u4e0a\u53f0\u7684\u62dc\u767b\u653f\u5e9c\u5f88\u96be\u9006\u8f6c\u8fd9\u4e00\u65b9\u5411\uff0c\u53ef\u80fd\u4f1a\u4e88\u4ee5\u63a5\u53d7\u3002\u800c\u66f4\u5e7f\u6cdb\u7684\u7f8e\u56fd\u5546\u754c\u4e5f\u5bf9\u4e0e\u4e2d\u56fd\u7684\u4ea4\u5f80\u611f\u5230\u5931\u671b\u3002<\/p>\n
\u7136\u800c\u534e\u5c14\u8857\u5728\u8fd9\u65b9\u9762\u53ef\u8c13\u5168\u529b\u4ee5\u8d74\u3002\u7f8e\u4e2d1\u6708\u8d38\u6613\u534f\u8bae\u7b7e\u7f72\u4e4b\u540e\uff0c\u6469\u6839\u5927\u901a(JPMorgan)\u83b7\u6279\u5b8c\u5168\u63a7\u80a1\u4e00\u5bb6\u671f\u8d27\u516c\u53f8\uff0c\u4e4b\u524d\u5176\u4ec5\u6301\u6709\u8be5\u671f\u8d27\u516c\u53f8\u7684\u5c11\u6570\u80a1\u6743\u3002\u9ad8\u76db(Goldman Sachs)\u548c\u6469\u6839\u58eb\u4e39\u5229(Morgan Stanley)\u83b7\u5f97\u5176\u4e2d\u56fd\u5408\u8d44\u8bc1\u5238\u516c\u53f8\u7684\u63a7\u80a1\u6743\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u82b1\u65d7\u96c6\u56e2(Citigroup Inc.)\u5728\u4e2d\u56fd\u83b7\u6279\u8bc1\u5238\u6295\u8d44\u57fa\u91d1\u6258\u7ba1\u4e1a\u52a1\u8d44\u683c\u3002<\/p>\n
<\/p>\n
8\u6708\u4efd\u8d1d\u83b1\u5fb7\u6210\u4e3a\u9996\u5bb6\u521d\u6b65\u83b7\u6279\u53ef\u5728\u534e\u5f00\u8bbe\u5168\u8d44\u516c\u52df\u57fa\u91d1\u4e1a\u52a1\u7684\u5916\u8d44\u4f01\u4e1a\uff0c\u8fd9\u5f20\u6f5c\u5728\u95e8\u7968\u6709\u671b\u64ac\u5f00\u4e00\u4e2a\u4ee5\u6563\u6237\u4e3a\u4e3b\u3001\u8574\u542b\u5de8\u5927\u6f5c\u529b\u7684\u5e9e\u5927\u5e02\u573a\u3002<\/p>\n
–\u6f2b\u6f2b\u957f\u8def<\/p>\n
\u5c3d\u7ba1\u52a8\u4f5c\u9891\u9891\uff0c\u4f46\u6301\u6000\u7591\u6001\u5ea6\u7684\u4eba\u8d28\u7591\uff0c\u9664\u4e86\u5728\u4e2d\u56fd\u5e02\u573a\u7acb\u8db3\u4ee5\u5916\uff0c\u5317\u4eac\u65b9\u9762\u662f\u5426\u4f1a\u8ba9\u534e\u5c14\u8857\u6709\u66f4\u591a\u6536\u83b7\u3002<\/p>\n
\u5a01\u51ef\u5e73\u548c\u800c\u5fb7\u5f8b\u5e08\u4e8b\u52a1\u6240(WilmerHale)\u9a7b\u5317\u4eac\u7684\u5f8b\u5e08Lester Ross\u4e3a\u7f8e\u56fd\u4f01\u4e1a\u5728\u4e2d\u56fd\u8fd0\u8425\u63d0\u4f9b\u54a8\u8be2\u670d\u52a1\uff0c\u4ed6\u8bf4\uff0c\u5373\u4f7f\u4e2d\u56fd\u5141\u8bb8\u66f4\u591a\u7684\u5916\u56fd\u516c\u53f8\u8fdb\u5165\uff0c\u4f46\u4e5f\u65e0\u610f\u8ba9\u5916\u56fd\u7ade\u4e89\u8005\u5360\u636e\u4e3b\u5bfc\u5730\u4f4d\u3002<\/p>\n
\u9274\u4e8e\u8fdb\u5165\u65f6\u95f4\u8f83\u665a\uff0c\u800c\u4e14\u73b0\u5728\u673a\u4f1a\u6709\u9650\uff0c\u5916\u56fd\u91d1\u878d\u516c\u53f8\u4e50\u4e8e\u83b7\u5f97\u4efb\u4f55\u4ed6\u4eec\u80fd\u62ff\u5230\u7684\u4efd\u989d\u3002\u5c31\u91d1\u878d\u670d\u52a1\u4e1a\u800c\u8a00\uff0c\u4e2d\u56fd\u76ee\u524d\u4ecd\u7136\u662f\u5168\u7403\u589e\u957f\u6700\u5feb\u7684\u5e02\u573a\uff0c\u800c\u4e0e\u6b64\u540c\u65f6\uff0c\u5916\u56fd\u91d1\u878d\u516c\u53f8\u81ea\u8eab\u7684\u5229\u6da6\u7387\u6b63\u5728\u5176\u672c\u571f\u5e02\u573a\u53d7\u5230\u6324\u538b\u3002<\/p>\n
\u5916\u56fd\u91d1\u878d\u516c\u53f8\u7684\u957f\u671f\u6e38\u8bf4\u52aa\u529b\uff0c\u5305\u62ec\u5728\u4e2d\u56fd\u4e0e\u897f\u65b9\u7684\u4e00\u4e9b\u6fc0\u70c8\u4e89\u7aef\u4e2d\u7ad9\u5728\u4e2d\u56fd\u4e00\u8fb9\uff0c\u90fd\u53cd\u6620\u51fa\u5b83\u4eec\u8feb\u5207\u60f3\u6253\u5165\u4e2d\u56fd\u8fd9\u4e2a\u5e02\u573a\u3002<\/p>\n
\u4eca\u5e747\u6708\uff0c\u4ee3\u8868\u519c\u4e1a\u3001\u533b\u836f\u548c\u822a\u7a7a\u516c\u53f8\u7b49\u884c\u4e1a\u768440\u591a\u4e2a\u7f8e\u56fd\u884c\u4e1a\u56e2\u4f53\u5171\u540c\u7b7e\u7f72\u4e86\u4e00\u5c01\u4fe1\uff0c\u6566\u4fc3\u4e2d\u56fd\u653f\u5e9c\u91c7\u53d6\u66f4\u591a\u63aa\u65bd\u6765\u843d\u5b9e\u4e2d\u7f8e\u4e4b\u95f4\u8fbe\u6210\u7684\u8d38\u6613\u534f\u8bae\uff0c\u8be5\u534f\u8bae\u4e2d\u8fd8\u5305\u62ec\u4e2d\u56fd\u5bf9\u7f8e\u56fd\u98de\u673a\u3001\u519c\u4ea7\u54c1\u3001\u77f3\u6cb9\u7b49\u5546\u54c1\u7684\u91c7\u8d2d\u627f\u8bfa\uff0c\u4f46\u4e2d\u56fd\u5c1a\u672a\u5b8c\u5168\u5151\u73b0\u8fd9\u4e9b\u627f\u8bfa\u3002<\/p>\n
\u636e\u4e86\u89e3\u91d1\u878d\u4e1a\u7684\u4eba\u58eb\u900f\u9732\uff0c\u4e0e\u5176\u4ed6\u5546\u4e1a\u56e2\u4f53\u4e0d\u540c\uff0c\u534e\u5c14\u8857\u5bf9\u4e2d\u56fd\u5c65\u884c1\u6708\u4efd\u6240\u8fbe\u6210\u534f\u8bae\u7684\u60c5\u51b5\u611f\u5230\u6ee1\u610f\u3002\u5728\u4e0a\u8ff0\u4fe1\u51fd\u7684\u7b7e\u7f72\u8005\u4e2d\uff0c\u6ca1\u6709\u4ee3\u8868\u94f6\u884c\u548c\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u7684\u56e2\u4f53\u3002\u5176\u4e2d\u4e00\u4f4d\u77e5\u60c5\u4eba\u58eb\u79f0\uff0c\u91d1\u878d\u670d\u52a1\u516c\u53f8\u5927\u4f53\u5bf9\u8fdb\u5c55\u611f\u5230\u6ee1\u610f\u3002<\/p>\n
–\u534e\u5c14\u8857\u4f38\u51fa\u63f4\u624b<\/p>\n
\u5728\u56f0\u96be\u65f6\u671f\uff0c\u4e2d\u56fd\u66fe\u591a\u6b21\u5411\u534e\u5c14\u8857\u6c42\u52a9\u300220\u4e16\u7eaa90\u5e74\u4ee3\u672b\uff0c\u4e2d\u56fd\u5927\u578b\u94f6\u884c\u5e94\u5bf9\u574f\u8d26\u4e4b\u9645\uff0c\u65f6\u4efb\u56fd\u52a1\u9662\u603b\u7406\u6731\u9555\u57fa\u8bf7\u7f8e\u56fd\u6295\u8d44\u94f6\u884c\u5bb6\u5e2e\u52a9\u89e3\u51b3\u8fd9\u4e2a\u56f0\u5883\uff0c\u5176\u4e2d\u5305\u62ec\u7f8e\u56fd\u524d\u8d22\u653f\u90e8\u957f\u4fdd\u5c14\u68ee(Hank Paulson)\uff0c \u4fdd\u5c14\u68ee\u5f53\u65f6\u662f\u9ad8\u76db\u7684\u540e\u8d77\u4e4b\u79c0\u3002<\/p>\n
\u6731\u9555\u57fa\u652f\u6301\u4e86\u8fd9\u4e9b\u7f8e\u56fd\u6295\u8d44\u94f6\u884c\u5bb6\u7ed9\u51fa\u7684\u65b9\u6848\u2014\u2014\u628a\u4e2d\u56fd\u6700\u5927\u7684\u56db\u5bb6\u56fd\u6709\u94f6\u884c\u7684\u90e8\u5206\u80a1\u6743\u5356\u7ed9\u7f8e\u56fd\u516c\u53f8\u3002\u4ed6\u5f53\u65f6\u8bf4\uff0c\u8fd9\u56db\u5927\u94f6\u884c\u7684\u603b\u8d44\u4ea7\u6216\u8bb8\u90fd\u6bd4\u4e0d\u4e0a\u82b1\u65d7\u8fd9\u4e00\u5bb6\u7f8e\u56fd\u94f6\u884c\u7684\u8d44\u4ea7\u89c4\u6a21\u3002<\/p>\n
\u4e2d\u56fd\u4e8e2001\u5e74\u52a0\u5165\u4e86\u4e16\u754c\u8d38\u6613\u7ec4\u7ec7(World Trade Organization, \u7b80\u79f0WTO)\uff0c\u5728\u5165\u4e16\u8c08\u5224\u8fc7\u7a0b\u4e2d\uff0c\u6731\u9555\u57fa\u505a\u51fa\u7684\u8ba9\u6b65\u4e4b\u4e00\u662f\uff0c\u5317\u4eac\u65b9\u9762\u540c\u610f\u5f00\u653e\u4e2d\u56fd\u7684\u91d1\u878d\u4e1a\u3002\u4f46\u7f8e\u56fd\u7684\u94f6\u884c\u3001\u7ecf\u7eaa\u5546\u548c\u5176\u4ed6\u516c\u53f8\u4e0d\u5f97\u4e0d\u9762\u5bf9\u5728\u8fd9\u4e2a\u5feb\u901f\u589e\u957f\u7684\u5e02\u573a\u4e0a\u8dd1\u9f99\u5957\u7684\u5c40\u9762\u3002\u7814\u7a76\u673a\u6784Cerulli Associates\u7684\u4fe1\u606f\u663e\u793a\uff0c2020\u5e74\u7b2c\u4e00\u5b63\u5ea6\uff0c\u5916\u8d44\u673a\u6784\u5728\u4e2d\u56fd\u94f6\u884c\u4e1a\u4e2d\u7684\u5360\u6bd4\u4ec5\u4e3a1%\u5de6\u53f3\u3002<\/p>\n
\u4e2d\u7f8e\u8d38\u6613\u6218\u7ed9\u534e\u5c14\u8857\u5e26\u6765\u4e00\u4e2a\u65b0\u673a\u9047\u3002\u5728\u6574\u4e2a\u8d38\u6613\u6218\u8fc7\u7a0b\u4e2d\uff0c\u4e2d\u56fd\u65f6\u5e38\u4f9d\u8d56\u79c1\u52df\u80a1\u6743\u6295\u8d44\u516c\u53f8\u9ed1\u77f3\u96c6\u56e2(Blackstone Group Inc., BX)\u7684\u8054\u5408\u521b\u59cb\u4eba\u3001\u4ebf\u4e07\u5bcc\u7fc1\u82cf\u4e16\u6c11(Stephen Schwarzman)\u3001\u4fdd\u5c14\u68ee\u548c\u53e6\u4e00\u4f4d\u524d\u9ad8\u76db\u9ad8\u7ba1\u6851\u987f(John Thornton)\u4f5c\u4e3a\u4e2d\u56fd\u4e0e\u7279\u6717\u666e\u653f\u5e9c\u4e4b\u95f4\u8c08\u5224\u7684\u4e2d\u95f4\u4eba\u3002<\/p>\n
\u57282018\u5e742\u6708\u7684\u4f1a\u8c08\u4e4b\u540e\uff0c\u4e2d\u65b9\u66fe\u5411\u82ac\u514b\u548c\u9ed1\u77f3\u5f81\u8be2\u6709\u5173\u5982\u4f55\u91cd\u5851\u4e2d\u56fd\u517b\u8001\u91d1\u4f53\u7cfb\u7684\u610f\u89c1\uff0c\u56e0\u4e3a\u4eba\u53e3\u7684\u5feb\u901f\u8001\u9f84\u5316\u4ee4\u4e2d\u56fd\u672a\u6765\u9762\u4e34\u5f88\u5927\u7684\u517b\u8001\u91d1\u7f3a\u53e3\u3002<\/p>\n
\u82ac\u514b\u5e76\u6ca1\u6709\u5176\u4ed6\u4e00\u4e9b\u534e\u5c14\u8857\u4eba\u58eb\u5728\u4e2d\u56fd\u62e5\u6709\u7684\u6839\u57fa\uff0c\u4f46\u4ed6\u4e0d\u65ad\u63a8\u5e7f\u50cf\u9ed1\u77f3\u8fd9\u6837\u7684\u516c\u53f8\u53ef\u5728\u4e2d\u56fd\u53d1\u6325\u6709\u76ca\u4f5c\u7528\u7684\u7406\u5ff5\u3002<\/p>\n
2018\u5e7411\u6708\uff0c\u5728\u7ebd\u7ea6\u541b\u60a6\u9152\u5e97(Grand Hyatt New York)\u63a5\u53d7\u7f8e\u4e2d\u5173\u7cfb\u5168\u56fd\u59d4\u5458\u4f1a(National Committee on United States-China Relations)\u9881\u53d1\u7684\u4e00\u4e2a\u5956\u9879\u65f6\uff0c\u82ac\u514b\u8868\u793a\u4e24\u56fd\u7684\u547d\u8fd0\u662f\u5f7c\u6b64\u4ea4\u7ec7\u7684\u3002\u5f53\u9ad8\u7ba1\u4eec\u4e0e\u524d\u7f8e\u56fd\u56fd\u52a1\u537f\u57fa\u8f9b\u683c(Henry Kissinger)\u548c\u4e2d\u56fd\u9a7b\u7f8e\u5927\u4f7f\u5d14\u5929\u51ef\u4e00\u8d77\u4eab\u7528\u83f2\u529b\u725b\u6392\u65f6\uff0c\u82ac\u514b\u5bf9\u4e2d\u56fd\u5e2e\u52a9\u5f88\u591a\u6c11\u4f17\u6446\u8131\u8d2b\u56f0\u8868\u793a\u4e86\u8d5e\u8d4f\u3002<\/p>\n
\u4ed6\u4f20\u9012\u7684\u4fe1\u606f\u662f\uff1a\u8d1d\u83b1\u5fb7\u5c24\u5176\u53ef\u4ee5\u5e2e\u52a9\u4e2d\u56fd\u5bb6\u5ead\u5efa\u7acb\u4e00\u4e2a\u6295\u8d44\u5b89\u5168\u7f51\u3002<\/p>\n
2019\u5e7411\u6708\u5728\u5317\u4eac\u65f6\uff0c\u4ed6\u66fe\u5411\u4e2d\u56fd\u6700\u9ad8\u91d1\u878d\u76d1\u7ba1\u673a\u6784\u548c\u9ad8\u7ba1\u63a8\u4ecb\u4ed6\u7684\u5e9e\u5927\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u3002\u636e\u77e5\u60c5\u4eba\u58eb\u900f\u9732\uff0c\u4ed6\u544a\u8bc9\u4ed6\u4eec\uff0c\u8d1d\u83b1\u5fb7\u5728\u4e2d\u56fd\u5e94\u8be5\u662f\u4e00\u5bb6\u4e2d\u56fd\u516c\u53f8\u3002<\/p>\n
\u5373\u4f7f\u8fd9\u662f\u82ac\u514b\u7684\u4e00\u8d2f\u8bf4\u6cd5\uff0c\u6bd4\u5982\uff0c\u4ed6\u5728\u51fa\u8bbf\u5404\u56fd\u65f6\u4f1a\u5bf9\u542c\u4f17\u8bf4\uff0c\u8d1d\u83b1\u5fb7\u5728\u5fb7\u56fd\u5e94\u8be5\u662f\u4e00\u5bb6\u5fb7\u56fd\u516c\u53f8\uff0c\u5728\u58a8\u897f\u54e5\u5e94\u8be5\u662f\u4e00\u5bb6\u58a8\u897f\u54e5\u516c\u53f8\uff0c\u8bf8\u5982\u6b64\u7c7b\uff0c\u4f46\u4e0e\u6765\u81ea\u534e\u76db\u987f\u7684\u654c\u610f\u76f8\u6bd4\uff0c\u4ed6\u7684\u8fd9\u79cd\u8a00\u8bba\u5728\u4e2d\u56fd\u90a3\u91cc\u9887\u53d7\u6b22\u8fce\u3002<\/p>\n
\u4e0a\u6d77\u57fa\u91d1\u54a8\u8be2\u516c\u53f8Z-Ben Advisors Ltd.\u8463\u4e8b\u603b\u7ecf\u7406Peter Alexander\u79f0\uff1a\u201c\u82ac\u514b\u62d3\u5c55\u4e2d\u56fd\u5e02\u573a\u7684\u96c4\u5fc3\u4e00\u76ee\u4e86\u7136\u3002\u201d\u201c\u4e2d\u56fd\u4eba\u77e5\u9053\u8fd9\u4e00\u70b9\u3002\u201d<\/p>\n
\u50cf\u8bb8\u591a\u5176\u4ed6\u5927\u578b\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u4e00\u6837\uff0c\u8d1d\u83b1\u5fb7\u627f\u53d7\u4e0d\u8d77\u5ffd\u89c6\u4e2d\u56fd\u5e02\u573a\u7684\u4ee3\u4ef7\u3002\u5728\u7f8e\u56fd\u56fd\u5185\uff0c\u5e02\u573a\u5df2\u7ecf\u9971\u548c\uff0c\u800c\u4ef7\u683c\u6218\u6b63\u5728\u4fb5\u8680\u5229\u6da6\u3002\u968f\u7740\u8d1d\u83b1\u5fb7\u6307\u6570\u578b\u57fa\u91d1\u5c06\u66f4\u591a\u6295\u8d44\u8005\u7684\u56de\u62a5\u4ee5\u53ca\u8be5\u516c\u53f8\u7684\u547d\u8fd0\u4e0e\u4e2d\u56fd\u66f4\u7d27\u5bc6\u5730\u8054\u7cfb\u5728\u4e00\u8d77\uff0c\u8fd9\u4e9b\u57fa\u91d1\u5df2\u6210\u4e3a\u4e2d\u56fd\u8fdb\u4e00\u6b65\u878d\u5165\u5168\u7403\u5e02\u573a\u7684\u6e20\u9053\u3002<\/p>\n
\u82ac\u514b\u57283\u6708\u4efd\u5199\u7ed9\u80a1\u4e1c\u7684\u4fe1\u4e2d\u8868\u793a\uff1a\u201c\u6211\u4ecd\u7136\u575a\u5b9a\u5730\u8ba4\u4e3a\uff0c\u4ece\u957f\u8fdc\u6765\u770b\uff0c\u4e2d\u56fd\u5c06\u662f\u8d1d\u83b1\u5fb7\u6700\u5927\u7684\u673a\u4f1a\u4e4b\u4e00\uff0c\u5bf9\u8d44\u4ea7\u7ba1\u7406\u4eba\u5458\u548c\u6295\u8d44\u8005\u6765\u8bf4\u90fd\u662f\u5982\u6b64\u3002\u201d\u201c\u5c3d\u7ba1\u773c\u4e0b\u6211\u4eec\u770b\u5230\u5168\u7403\u4f53\u7cfb\u5b58\u5728\u4e0d\u786e\u5b9a\u6027\u548c\u8131\u94a9\u60c5\u51b5\u3002\u201d<\/p>\n
\u8d1d\u83b1\u5fb7\u5728\u4e00\u4efd\u58f0\u660e\u4e2d\u8868\u793a\uff1a\u201c\u7f8e\u56fd\u91d1\u878d\u673a\u6784\u5728\u4e2d\u56fd\u7684\u6269\u5f20\u7b26\u5408\u7f8e\u56fd\u653f\u5e9c\u7684\u653f\u7b56\u76ee\u6807\u3002\u201d\u8be5\u58f0\u660e\u8bf4\uff1a\u201c\u5728\u5168\u7403\u7b2c\u4e8c\u5927\u7ecf\u6d4e\u4f53\u5f00\u5c55\u672c\u5730\u4e1a\u52a1\u5c06\u6709\u52a9\u4e8e\u6211\u4eec\u66f4\u597d\u5730\u4e3a\u7f8e\u56fd\u548c\u4e16\u754c\u5404\u5730\u7684\u5ba2\u6237\u63d0\u4f9b\u670d\u52a1\uff0c\u8fd9\u4e9b\u5ba2\u6237\u662f\u4e3a\u9000\u4f11\u7b49\u957f\u671f\u76ee\u6807\u5b58\u94b1\u3002\u201d<\/p>\n
\u4eca\u5e7468\u5c81\u7684\u82ac\u514b\u57282006\u5e74\u9996\u6b21\u9886\u7565\u5230\u4e2d\u56fd\u7684\u6f5c\u529b\uff0c\u5f53\u65f6\u8d1d\u83b1\u5fb7\u6536\u8d2d\u4e86\u7f8e\u6797(Merrill Lynch)\u7684\u8d44\u4ea7\u7ba1\u7406\u4e1a\u52a1\uff0c\u8fdb\u800c\u5728\u4e0e\u4e2d\u56fd\u94f6\u884c\u80a1\u4efd\u6709\u9650\u516c\u53f8(Bank Of China Ltd., 601988.SH, 3988.HK, \u7b80\u79f0\ufe55\u4e2d\u56fd\u94f6\u884c)\u7ec4\u5efa\u7684\u4e00\u5bb6\u5408\u8d44\u516c\u53f8\u4e2d\u83b7\u5f9716.5%\u7684\u80a1\u6743\u3002\u6cfd\u5954\u5546\u52a1\u54a8\u8be2\u7684Alexander\u4f30\u8ba1\uff0c\u8fd9\u4e9b\u80a1\u4efd\u7684\u4ef7\u503c\u5df2\u7ecf\u4ece400\u4e07\u7f8e\u5143\u589e\u81f3\u7ea64\u4ebf\u7f8e\u5143\uff0c\u5e74\u56de\u62a5\u7387\u7ea638%\u3002\u5728\u4e4b\u540e\u7684\u591a\u5e74\u4e2d\uff0c\u82ac\u514b\u66fe\u5bf9\u8d1d\u83b1\u5fb7\u672a\u80fd\u63d0\u9ad8\u8be5\u516c\u53f8\u7684\u6301\u80a1\u6bd4\u4f8b\u611f\u5230\u4e0d\u6ee1\u3002<\/p>\n
2010\u5e74\u4ee3\u521d\uff0c\u5728\u82ac\u514b\u7684\u6566\u4fc3\u4e0b\uff0c\u8d1d\u83b1\u5fb7\u7684\u5185\u90e8\u5de5\u4f5c\u5c0f\u7ec4\u5c06\u76ee\u6807\u575a\u5b9a\u5730\u5bf9\u51c6\u4e86\u4e2d\u56fd\u5e02\u573a\u3002\u4e00\u4f4d\u4e0e\u8be5\u516c\u53f8\u5173\u7cfb\u5bc6\u5207\u7684\u4eba\u58eb\u8868\u793a\uff1a\u201c\u5f53\u65f6\u7684\u60f3\u6cd5\u662f\uff0c\u8bb8\u591a\u5ba2\u6237\u6765\u8d1d\u83b1\u5fb7\u662f\u56e0\u4e3a\u4ed6\u4eec\u5e0c\u671b\u6295\u8d44\u5168\u7403\u7684\u8d44\u4ea7\u3002\u6211\u4eec\u9700\u8981\u4e5f\u5e94\u8be5\u5728\u4e2d\u56fd\u5f00\u5c55\u4e1a\u52a1\u3002\u201d<\/p>\n
\u5728\u63a5\u4e0b\u6765\u7684\u51e0\u5e74\u91cc\uff0c\u8d1d\u83b1\u5fb7\u5728\u4e2d\u56fd\u9886\u5bfc\u5c42\u652f\u6301\u7684\u4e00\u4e9b\u6709\u4e89\u8bae\u7684\u4e3e\u63aa\u4e2d\u53d1\u6325\u4e86\u5f71\u54cd\u529b\u3002<\/p>\n
\u5f53\u6307\u6570\u63d0\u4f9b\u5546MSCI\u660e\u665f(MSCI Inc., MSCI)\u9996\u6b21\u8003\u8651\u5c06\u5728\u4e2d\u56fd\u5185\u5730\u4ea4\u6613\u7684\u4e2d\u56fdA\u80a1\u7eb3\u5165\u5176\u65b0\u5174\u5e02\u573a\u6307\u6570\u65f6\uff0c\u7531\u4e8e\u7f3a\u4e4f\u5bf9\u4e2d\u56fd\u516c\u53f8\u7684\u4e86\u89e3\u4ee5\u53ca\u4e2d\u56fd\u5bf9\u8d44\u672c\u6d41\u52a8\u7684\u9650\u5236\uff0c\u673a\u6784\u6295\u8d44\u8005\u611f\u5230\u62c5\u5fe7\u3002MSCI\u65b0\u5174\u5e02\u573a\u6307\u6570\u662f\u8bb8\u591a\u5927\u578b\u673a\u6784\u8fdb\u884c\u6295\u8d44\u7684\u57fa\u7840\u3002<\/p>\n
\u4e2d\u56fd\u5927\u529b\u6e38\u8bf4\u63a8\u52a8A\u80a1\u7eb3\u5165MSCI\u660e\u665f\u6307\u6570\u3002\u636e\u53c2\u4e0e\u8ba8\u8bba\u7684\u4eba\u58eb\u79f0\uff0c\u8d1d\u83b1\u5fb7\u4e5f\u5728\u8fd9\u4e00\u8c03\u6574\u8fc7\u7a0b\u4e2d\u53d1\u6325\u4e86\u5f88\u5927\u5f71\u54cd\u529b\u3002\u8be5\u516c\u53f8\u5f00\u59cb\u6301\u53cd\u5bf9\u6001\u5ea6\uff0c\u4f46\u540e\u6765\u5728\u4e2d\u56fd\u653e\u5bbd\u5916\u56fd\u6295\u8d44\u8005\u4ea4\u6613\u4e2d\u56fd\u80a1\u7968\u7684\u9650\u5236\u4e4b\u540e\uff0c\u8be5\u516c\u53f8\u53c8\u8f6c\u4e3a\u652f\u6301\u65b9\u3002<\/p>\n
\u5728MSCI\u660e\u665f\u4e8e2017\u5e746\u6708\u5ba3\u5e03\u5176\u51b3\u5b9a\u540e\u4e0d\u4e45\uff0c\u8d1d\u83b1\u5fb7\u4e4b\u524d\u63d0\u4ea4\u7684\u5728\u4e2d\u56fd\u8bbe\u7acb\u4e00\u9879\u9488\u5bf9\u7279\u5b9a\u6295\u8d44\u8005\u7684\u79c1\u52df\u57fa\u91d1\u4e1a\u52a1\u7533\u8bf7\u83b7\u5f97\u6279\u51c6\u3002\u4e2d\u56fd\u76d1\u7ba1\u673a\u6784\u4e00\u540d\u5b98\u5458\u56de\u5fc6\u8bf4\uff0c\u8d1d\u83b1\u5fb7\u5bf9MSCI\u660e\u665f\u7eb3\u5165A\u80a1\u51b3\u5b9a\u7684\u652f\u6301\u80af\u5b9a\u8d77\u5230\u4e86\u4f5c\u7528\u3002<\/p>\n
\u53bb\u5e74MSCI\u660e\u665f\u8c03\u6574\u5168\u9762\u751f\u6548\u65f6\uff0c\u4e2d\u56fd\u5728\u5176\u4e3b\u8981\u65b0\u5174\u5e02\u573a\u6307\u6570\u4e2d\u7684\u5360\u6bd4\u4ece\u7eb3\u5165\u524d\u768428%\u5de6\u53f3\u4e0a\u5347\u523033%\u5de6\u53f3\u3002\u5206\u6790\u5e08\u4f30\u8ba1\uff0c\u6b64\u4e3e\u63a8\u52a8\u6570\u767e\u4ebf\u7f8e\u5143\u8d44\u91d1\u8fdb\u5165\u4e86\u4e2d\u56fd\u80a1\u5e02\u3002\u6b64\u540e\uff0c\u4e2d\u56fd\u80a1\u7968\u6743\u91cd\u8fdb\u4e00\u6b65\u4e0a\u5347\uff0c\u8fbe\u523040%\u5de6\u53f3\u3002<\/p>\n
\u82ac\u514b\u5728\u4eca\u5e74\u5199\u7ed9\u5176\u4ed6CEO\u7684\u4e00\u5c01\u4fe1\u4e2d\uff0c\u547c\u5401\u52a0\u5f3a\u4f01\u4e1a\u4fe1\u606f\u62ab\u9732\uff0c\u5c06\u4e4b\u4f5c\u4e3a\u201c\u5b9e\u73b0\u66f4\u53ef\u6301\u7eed\u548c\u66f4\u5177\u5305\u5bb9\u6027\u7684\u8d44\u672c\u4e3b\u4e49\u7684\u65b9\u5f0f\u201d\u3002<\/p>\n
\u5373\u5c06\u79bb\u4efb\u7684\u5171\u548c\u515a\u53c2\u8bae\u5458Martha McSally\u548c\u53e6\u4e00\u4f4d\u5171\u548c\u515a\u53c2\u8bae\u5458Kevin Cramer\u66fe\u57286\u6708\u7684\u4e00\u5c01\u4fe1\u4e2d\u6307\u51fa\uff0c\u82ac\u514b\u7684\u505a\u6cd5\u662f\u53cc\u91cd\u6807\u51c6\uff0c\u6566\u4fc3\u8fdb\u884c\u66f4\u8be6\u7ec6\u7684\u8c03\u67e5\u3002<\/p>\n
\u5728\u82ac\u514b\u770b\u6765\uff0c\u4ed6\u5411\u7f8e\u56fd\u548c\u4e2d\u56fd\u4f20\u9012\u51fa\u7684\u4fe1\u606f\u5e76\u6ca1\u6709\u77db\u76fe\u3002\u8d1d\u83b1\u5fb7\u8868\u793a\uff0c\u5176\u76ee\u6807\u662f\u5e2e\u52a9\u6539\u5584\u5168\u7403\u8303\u56f4\u5185\u7684\u516c\u53f8\u6cbb\u7406\uff0c\u5e76\u63d0\u5021\u62ab\u9732\u80a1\u4e1c\u4fe1\u606f\uff0c\u8d1d\u83b1\u5fb7\u8ba4\u4e3a\u4e2d\u56fd\u5e02\u573a\u9700\u8981\u8fd9\u6837\u505a\u6765\u5438\u5f15\u5168\u7403\u8d44\u91d1\u3002<\/p>\n
\u82ac\u514b\u57289\u670825\u65e5\u5411\u4e0a\u6d77\u7684\u4e00\u4e2a\u8bba\u575b\u4f1a\u53d1\u8868\u4e86\u4e00\u6b21\u89c6\u9891\u6f14\u8bb2\uff0c\u4ed6\u5728\u8bb2\u8bdd\u4e2d\u547c\u5401\u4e2d\u56fd\u8ffd\u6c42\u201c\u66f4\u5927\u7684\u900f\u660e\u5ea6\u5e76\u6539\u8fdb\u4f1a\u8ba1\u51c6\u5219\uff0c\u4ece\u800c\u63d0\u632f\u6295\u8d44\u8005\u7684\u4fe1\u5fc3\u201d\u3002<\/p>\n
2017\u5e74\uff0c\u4e2d\u56fd\u5de5\u5546\u94f6\u884c\u80a1\u4efd\u6709\u9650\u516c\u53f8(Industrial & Commercial Bank of China Ltd., 1398.HK, \u7b80\u79f0\ufe55\u5de5\u5546\u94f6\u884c)\u548c\u6cb9\u6c14\u5de8\u5934\u4e2d\u56fd\u77f3\u6cb9\u5316\u5de5\u80a1\u4efd\u6709\u9650\u516c\u53f8(China Petroleum & Chemical Co., 0386.HK, \u7b80\u79f0\ufe55\u4e2d\u56fd\u77f3\u6cb9\u5316\u5de5\u80a1\u4efd)\u7b49\u5728\u9999\u6e2f\u4e0a\u5e02\u7684\u4e2d\u56fd\u516c\u53f8\u63d0\u51fa\u4fee\u6539\u516c\u53f8\u7ae0\u7a0b\uff0c\u8981\u6c42\u516c\u53f8\u8463\u4e8b\u4f1a\u5c31\u91cd\u5927\u51b3\u7b56\u5f81\u6c42\u516c\u53f8\u515a\u59d4\u7684\u610f\u89c1\uff0c\u5f53\u65f6\u8d1d\u83b1\u5fb7\u57fa\u91d1\u6295\u4e86\u8d5e\u540c\u7968\uff0c\u5176\u4ed6\u8bb8\u591a\u7f8e\u56fd\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u4e5f\u4e00\u6837\u3002<\/p>\n
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\u5373\u4f7f1\u6708\u4efd\u7684\u8d38\u6613\u534f\u8bae\u7ed9\u534e\u5c14\u8857\u5e26\u6765\u4e86\u4e00\u76f4\u60f3\u8981\u7684\u4e1c\u897f\uff0c\u4e2d\u56fd\u7684\u91d1\u878d\u5e02\u573a\u4ecd\u7136\u53d7\u5230\u9ad8\u5ea6\u76d1\u7ba1\uff0c\u5317\u4eac\u65b9\u9762\u4ecd\u7136\u53ef\u4ee5\u51b3\u5b9a\u8c01\u80fd\u8fdb\u5165\u3002\u5373\u5c06\u4e0a\u53f0\u7684\u62dc\u767b\u653f\u5e9c\u662f\u5426\u4f1a\u6709\u6240\u5e2e\u52a9\u662f\u4e2a\u672a\u77e5\u6570\u3002\u62dc\u767b\u7684\u9ad8\u7ea7\u987e\u95ee\u8868\u793a\uff0c\u4ed6\u4eec\u5e0c\u671b\u5728\u8d38\u6613\u8c08\u5224\u4e2d\u5f31\u5316\u4e2d\u56fd\u91d1\u878d\u5e02\u573a\u51c6\u5165\u95ee\u9898\u7684\u91cd\u8981\u6027\u3002\u5df2\u88ab\u63d0\u540d\u4e3a\u56fd\u5bb6\u5b89\u5168\u987e\u95ee\u7684Jake Sullivan\u5728\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\u4e0e\u4eba\u5408\u5199\u7684\u4e00\u7bc7\u6587\u7ae0\u4e2d\u8bf4\uff1a\u201c\u6bd4\u5982\uff0c\u4e3a\u4ec0\u4e48\u8981\u628a\u5411\u9ad8\u76db\u5f00\u653e\u4e2d\u56fd\u91d1\u878d\u5e02\u573a\u4f5c\u4e3a\u7f8e\u56fd\u7684\u8c08\u5224\u91cd\u70b9\u5462\uff1f\u201d<\/p>\n
\u6c11\u4e3b\u515a\u4eba\u58eb\u666e\u904d\u6301\u6709\u8fd9\u79cd\u89c2\u70b9\uff0c\u5176\u4e2d\u5305\u62ec\u524d\u514b\u6797\u987f\u653f\u5e9c\u8d22\u653f\u90e8\u957f\u8428\u9ed8\u65af(Larry Summers)\uff0c\u4ed6\u5728\u62c5\u4efb\u8d22\u957f\u671f\u95f4\u66fe\u63a8\u52a8\u4e86\u4e2d\u56fd\u91d1\u878d\u81ea\u7531\u5316\u3002\u4ed6\u6700\u8fd1\u53d1\u8868\u4e86\u4e00\u4efd\u653f\u7b56\u6587\u7ae0\uff0c\u5efa\u8bae\u62dc\u767b\u201c\u4e00\u5f00\u59cb\u5c31\u8981\u660e\u786e\uff0c\u4e0d\u8981\u628a\u7a00\u7f3a\u7684\u653f\u6cbb\u8d44\u672c\u6216\u7f8e\u56fd\u7684\u653f\u6cbb\u8d44\u672c\u82b1\u5728\u62e5\u6709\u6d77\u5916\u4e1a\u52a1\u7684\u7f8e\u56fd\u91d1\u878d\u516c\u53f8\u7684\u5546\u4e1a\u8bae\u7a0b\u4e0a\uff0c\u8fd9\u4e9b\u516c\u53f8\u5728\u6d77\u5916\u7684\u6210\u529f\u4e0e\u5728\u7f8e\u56fd\u521b\u9020\u5c31\u4e1a\u51e0\u4e4e\u6ca1\u6709\u5173\u7cfb\u201d\u3002<\/p>\n
<\/p>\n
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