{"id":16269,"date":"2022-05-19T23:56:00","date_gmt":"2022-05-19T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=16269"},"modified":"2024-07-30T10:01:43","modified_gmt":"2024-07-30T02:01:43","slug":"%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/","title":{"rendered":"\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u6709\u4f55\u5049\u5927\u4e4b\u8655\uff1f"},"content":{"rendered":"\n<p>\u5927\u90e8\u4efd\u6709\u6295\u8cc7\u7d93\u9a57\u7684\u4eba\u61c9\u8a72\u90fd\u807d\u904e<a href=\"https:\/\/www.nbim.no\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1<\/a>\uff0c\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u975e\u5e38\u91cd\u8981\uff0c\u5b83\u662f\u5168\u7403\u6700\u91cd\u8981\u7684\u4e3b\u6b0a\u57fa\u91d1\uff0c\u60f3\u77e5\u9053\u4f55\u8b02\u4e3b\u6b0a\u57fa\u91d1\u7684\u670b\u53cb\uff0c\u53ef\u4ee5\u53c3\u898b\u6211\u4e4b\u524d\u5beb\u904e\u7684\u9019\u7bc7\u6587\u7ae0\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/29\/%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91%ef%bc%88sovereign-wealth-fund%ef%bc%9aswf%ef%bc%89\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e3b\u6b0a\u57fa\u91d1\uff08Sovereign Wealth Fund\uff1aSWF\uff09<\/a>\u300b\u3002<\/p>\n\n\n\n<p>\u53e6\u4e00\u500b\u8209\u4e16\u805e\u540d\u7684\u5247\u662f\u8afe\u8c9d\u723e\u57fa\u91d1\uff0c\u60a8\u53ef\u4ee5\u53c3\u898b\u6211\u53e6\u6587\u4ecb\u7d39\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/11\/25\/%e8%ab%be%e8%b2%9d%e7%88%be%e5%9f%ba%e9%87%91%e6%9c%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%ad%96%e7%95%a5\/\">\u8afe\u8c9d\u723e\u57fa\u91d1\u6703\u7684\u6295\u8cc7\u7b56\u7565 <\/a>\u300b\u3002<\/p>\n\n\n\n<p>\u5b83\u6709\u8a31\u591a\u503c\u5f97\u6211\u5011\u7814\u7a76\u4e4b\u8655\u3002\u6211\u6703\u5beb\u5169\u7bc7\u95dc\u65bc\u5b83\u7684\u6587\u7ae0\uff0c\u4eca\u5929\u5148\u520a\u51fa\u7b2c\u4e00\u90e8\u4efd\u3002\u7b2c\u4e8c\u90e8\u4efd\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/22\/%e6%8c%aa%e5%a8%81%e9%a4%8a%e8%80%81%e9%80%80%e4%bc%91%e5%9f%ba%e9%87%91%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e4%b9%8b%e8%99%95\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u503c\u5f97\u6295\u8cc7\u4eba\u5b78\u7fd2\u4e4b\u8655<\/a>\u300b\u904e\u5e7e\u5929\u6703\u520a\u51fa\u3002<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"\u986f\u793a\/\u96b1\u85cf\u5167\u5bb9\u76ee\u9304\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E6%8C%AA%E5%A8%81%E4%B8%BB%E6%AC%8A%E5%9F%BA%E9%87%91%E7%B0%A1%E4%BB%8B\" >\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u7c21\u4ecb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#2020%E5%B9%B4%E5%BA%95%E7%82%BA%E6%AD%A2%E5%9F%BA%E9%87%91%E7%9A%84%E4%B8%BB%E8%A6%81%E6%88%90%E5%B0%B1\" >2020\u5e74\u5e95\u70ba\u6b62\u57fa\u91d1\u7684\u4e3b\u8981\u6210\u5c31<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E5%9F%BA%E9%87%91%E6%B7%A8%E5%80%BC\" >\u57fa\u91d1\u6de8\u503c<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E6%AD%B7%E5%B9%B4%E5%B9%B4%E5%A0%B1%E9%85%AC%E7%8E%87\" >\u6b77\u5e74\u5e74\u5831\u916c\u7387<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E5%B9%B4%E5%8C%96%E5%A0%B1%E9%85%AC%E7%8E%87\" >\u5e74\u5316\u5831\u916c\u7387<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E6%8A%95%E8%B3%87%E9%A0%98%E5%9F%9F\" 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href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E8%82%A1%E6%AC%8A%E6%8A%95%E8%B3%87\" >\u80a1\u6b0a\u6295\u8cc7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E5%9B%BA%E5%AE%9A%E6%94%B6%E7%9B%8A%E6%8A%95%E8%B3%87\" >\u56fa\u5b9a\u6536\u76ca\u6295\u8cc7<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/#%E6%88%BF%E5%9C%B0%E7%94%A2%E6%8A%95%E8%B3%87\" 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class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>1990\u5e74\u632a\u5a01\u767c\u73fe\u4f86\u81ea\u5317\u6d77\u77f3\u6cb9\u7684\u6536\u5165\u5728\u672a\u4f8610\u5e74\u7684\u5229\u6f64\u5c07\u6703\u9010\u6f38\u4e0b\u964d\uff0c\u70ba\u4e86\u964d\u4f4e\u6cb9\u50f9\u7684\u6ce2\u52d5\u5c0d\u7d93\u6fdf\u9020\u6210\u7684\u5f71\u97ff\uff0c\u77f3\u6cb9\u7684\u4e0d\u53ef\u518d\u751f\u6027\uff0c\u548c\u4eba\u53e3\u8001\u9f61\u5316\u884d\u751f\u7684\u990a\u8001\u9000\u4f11\u554f\u984c\uff0c\u800c\u5efa\u7acb\u4e86\u77f3\u6cb9\u57fa\u91d1\u3002\u4e3b\u8981\u662f\u6301\u6709\u5168\u7403\u4e0a\u5e02\u4f01\u696d\u7684\u80a1\u7968\u4ee5\u53ca\u6b50\u7f8e\u591a\u5730\u7684\u50b5\u5238\u548c\u623f\u5730\u7522\uff0c\u9019\u4f7f\u5f97\u632a\u5a01\u4e0d\u5fc5\u50cf\u5176\u4ed6\u570b\u5bb6\u90a3\u6a23\u98fd\u53d7\u50b5\u52d9\u7684\u56f0\u64fe\u30022006\u632a\u5a01\u77f3\u6cb9\u57fa\u91d1\u8207\u570b\u5bb6\u4fdd\u96aa\u8a08\u756b\u57fa\u91d1\u5408\u4f75\u6539\u7d44\u70ba\u653f\u5e9c\u990a\u8001\u57fa\u91d1\uff0c\u4e5f\u5c31\u662f\u73fe\u5728\u773e\u6240\u5468\u77e5\u7684\u632a\u5a01\u653f\u5e9c\u990a\u8001\u57fa\u91d1\uff08Government Pension Fund\uff1aGPF\uff09\uff0c\u662f\u76ee\u524d\u5168\u7403\u6700\u5927\u7684\u570b\u5bb6\u4e3b\u6b0a\u57fa\u91d1\u3002\u7531\u65bc\u5b83\u7684\u9577\u671f\u6295\u8cc7\u7e3e\u6548\u986f\u773c\uff0c\u53ef\u4ee5\u8aaa\u662f\u5168\u7403\u6240\u6709\u4e3b\u6b0a\u57fa\u91d1\u548c\u990a\u8001\u57fa\u91d1\u7684\u6a21\u7bc4\u751f\uff1b\u5b83\u7684\u6295\u8cc7\u7d44\u5408\u7684\u7ba1\u7406\u3001\u539f\u5247\u3001\u7b56\u7565\u3001\u914d\u7f6e\u3001\u76e3\u7ba1\u3001\u900f\u660e\u5ea6\u65b9\u9762\u90fd\u5f88\u503c\u5f97\u6295\u8cc7\u4eba\u6548\u6cd5\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"2020%E5%B9%B4%E5%BA%95%E7%82%BA%E6%AD%A2%E5%9F%BA%E9%87%91%E7%9A%84%E4%B8%BB%E8%A6%81%E6%88%90%E5%B0%B1\"><\/span><strong>2020\u5e74\u5e95\u70ba\u6b62\u57fa\u91d1\u7684\u4e3b\u8981\u6210\u5c31<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%9F%BA%E9%87%91%E6%B7%A8%E5%80%BC\"><\/span>\u57fa\u91d1\u6de8\u503c<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5982\u4e0b\u57161\u75311999\u5e74\u52302020\u5e74\u5e95\u70ba\u6b62\uff0c\u57fa\u91d1\u6de8\u503c\u7f8e\u91d1 1.275\u5146\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/1.jpg\" alt=\"\" class=\"wp-image-17110\" width=\"554\" height=\"185\" srcset=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/1.jpg 554w, https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/1-300x100.jpg 300w\" sizes=\"auto, (max-width: 554px) 85vw, 554px\" \/><\/figure>\n\n\n\n<p>\u57161\uff1a\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u75311999\u5e74\u52302020\u5e74\u5e95\u7684\u57fa\u91d1\u6de8\u503c\u8b8a\u5316\u5716<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%AD%B7%E5%B9%B4%E5%B9%B4%E5%A0%B1%E9%85%AC%E7%8E%87\"><\/span>\u6b77\u5e74\u5e74\u5831\u916c\u7387<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-gallery has-nested-images columns-default is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\">\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"416\" height=\"175\" data-id=\"16740\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/f2-1600x1200-4.jpg\" alt=\"\" class=\"wp-image-16740\" srcset=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/f2-1600x1200-4.jpg 416w, https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/f2-1600x1200-4-300x126.jpg 300w\" sizes=\"auto, (max-width: 416px) 85vw, 416px\" \/><\/figure>\n<\/figure>\n\n\n\n<p>\u57162\uff1a\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u75311999\u5e74\u52302020\u5e74\u7684\u6b77\u5e74\u5e74\u5831\u916c\u7387\uff08\u55ae\u4f4d\u70ba\u767e\u5206\u6bd4\uff09<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%B9%B4%E5%8C%96%E5%A0%B1%E9%85%AC%E7%8E%87\"><\/span>\u5e74\u5316\u5831\u916c\u7387<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u5f9e1998\u81f32020\u5e74\u5e95\u70ba\u6b62\uff0c\u57fa\u91d1\u7684\u5e74\u5316\u5831\u916c\u70ba6.3%\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E9%A0%98%E5%9F%9F\"><\/span>\u6295\u8cc7\u9818\u57df<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u57fa\u91d1\u4e3b\u8981\u6295\u8cc7\u65bc\u4e09\u5927\u9818\u57df\u3002\u88681\uff1a\u57fa\u91d1\u4e3b\u8981\u6295\u8cc7\u9818\u57df\u548c\u6240\u4f54\u6bd4\u4f8b\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\u8cc7\u91d1\u767e\u5206\u6bd4<\/td><td>\u6295\u8cc7\u9818\u57df<\/td><\/tr><tr><td>72.8%<\/td><td>69\u500b\u570b\u5bb6\u76849,123\u5bb6\u4f01\u696d\u7684\u6301\u80a1<\/td><\/tr><tr><td>24.7%<\/td><td>70%\u6295\u8cc7\u65bc\u653f\u5e9c\u50b5\u5238\uff0c30%\u4f01\u696d\u50b5\u5238\uff1b\u5305\u62ec45\u500b\u570b\u5bb6\u76841,245\u7a2e\u4e0d\u540c\u7684\u50b5\u5238<\/td><\/tr><tr><td>2.5%<\/td><td>14\u500b\u767c\u9054\u570b\u5bb6867\u7b46\u7684\u623f\u5730\u7522<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%8A%95%E8%B3%87%E9%A0%98%E5%9F%9F%E7%9A%84%E8%AE%8A%E5%8C%96\"><\/span>\u6295\u8cc7\u9818\u57df\u7684\u8b8a\u5316<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u4ee5\u4e0b\u5247\u70ba\u4e09\u5927\u9818\u57df\u6295\u8cc7\u7684\u8b8a\u5316\u8da8\u52e2\u5716\uff1a<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"554\" height=\"241\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/f3.jpg\" alt=\"\" class=\"wp-image-16282\" srcset=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/f3.jpg 554w, https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/05\/f3-300x131.jpg 300w\" sizes=\"auto, (max-width: 554px) 85vw, 554px\" \/><\/figure>\n\n\n\n<p>\u57163\uff1a\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u75311999\u5e74\u52302020\u5e74\u5e95\u7684\u57fa\u91d1\u6295\u8cc7\u65bc\u4e09\u5927\u9818\u57df\u8b8a\u5316\u5716<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%B8%89%E5%A4%A7%E9%A1%9E%E5%9E%8B%E7%9A%84%E8%B3%87%E7%94%A2%E6%8A%95%E8%B3%87\"><\/span>\u4e09\u5927\u985e\u578b\u7684\u8cc7\u7522\u6295\u8cc7<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%82%A1%E6%AC%8A%E6%8A%95%E8%B3%87\"><\/span><strong>\u80a1\u6b0a\u6295\u8cc7<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u6839\u64da\u57fa\u6e96\u6307\u6578\u7684\u80a1\u7968\u90e8\u5206\uff0c\u8a08\u5165\u51fa\u552e\u80a1\u7968\u4ee5\u8cc7\u52a9\u623f\u5730\u7522\u7684\u6295\u8cc7\uff0c\u9032\u884c\u9069\u7576\u7684\u8abf\u6574\u3002\u5c312020\u5e74\u800c\u8a00\uff0c\u91d1\u878d\u3001\u79d1\u6280\u3001\u91ab\u7642\u4fdd\u5065\u696d\u80a1\u6b0a\u7684\u6295\u8cc7\u8ca2\u737b\u7522\u751f\u4e86\u6700\u5927\u7684\u76f8\u5c0d\u56de\u5831\uff0c\u800c\u6d88\u8cbb\u670d\u52d9\u696d\u5247\u662f\u7522\u751f\u7a0d\u5fae\u7684\u8ca0\u9762\u8ca2\u737b\u3002\u5c31\u6295\u8cc7\u76ee\u7684\u570b\u800c\u8a00\uff0c\u4e2d\u3001\u7f8e\u3001\u82f1\u80a1\u6b0a\u7684\u6295\u8cc7\u6f32\u5e45\u662f\u524d\u4e09\u5927\u8ca2\u737b\u570b\u3002\u57fa\u91d1\u7684\u80a1\u6b0a\u6295\u8cc7\u4f54\u5168\u7403\u6240\u6709\u4e0a\u5e02\u4f01\u696d\u80a1\u6b0a\u9ad8\u90541.4%\u3002<\/p>\n\n\n\n<p>\u88682\uff1a\u5c31\u662f\u8a72\u57fa\u91d1\u7684\u524d12\u5927\u6301\u80a1\u540d\u55ae\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\u516c\u53f8\u540d\u7a31<\/td><td>\u570b\u5225<\/td><td>\u50f9\u503c\uff08\u55ae\u4f4d\u70ba\u767e\u842c\u632a\u5a01\u514b\u90de\uff09<\/td><\/tr><tr><td>\u860b\u679c<\/td><td>\u7f8e\u570b<\/td><td>185,339<\/td><\/tr><tr><td>\u5fae\u8edf<\/td><td>\u7f8e\u570b<\/td><td>147,893<\/td><\/tr><tr><td>\u4e9e\u99ac\u905c<\/td><td>\u7f8e\u570b<\/td><td>124,334<\/td><\/tr><tr><td>\u5b57\u6bcd<\/td><td>\u7f8e\u570b<\/td><td>97,343<\/td><\/tr><tr><td>\u96c0\u5de2<\/td><td>\u745e\u58eb<\/td><td>77,028<\/td><\/tr><tr><td>\u81c9\u66f8<\/td><td>\u7f8e\u570b<\/td><td>67,424<\/td><\/tr><tr><td>\u53f0\u7a4d\u96fb<\/td><td>\u53f0\u7063<\/td><td>66,089<\/td><\/tr><tr><td>\u7f85\u6c0f\u5927\u85e5\u5ee0<\/td><td>\u745e\u58eb<\/td><td>59,125<\/td><\/tr><tr><td>\u4e09\u661f\u96fb\u5b50<\/td><td>\u5357\u97d3<\/td><td>56,598<\/td><\/tr><tr><td>\u963f\u91cc\u5df4\u5df4<\/td><td>\u4e2d\u570b<\/td><td>55,559<\/td><\/tr><tr><td>\u9a30\u8a0a<\/td><td>\u4e2d\u570b<\/td><td>49,657<\/td><\/tr><tr><td>\u7279\u65af\u62c9<\/td><td>\u7f8e\u570b<\/td><td>45,802<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E5%9B%BA%E5%AE%9A%E6%94%B6%E7%9B%8A%E6%8A%95%E8%B3%87\"><\/span><strong>\u56fa\u5b9a\u6536\u76ca\u6295\u8cc7<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u56fa\u5b9a\u6536\u76ca\u7ba1\u7406\u7684\u7e3e\u6548\u6703\u62ff\u4f86\u548c\u8207\u57fa\u6e96\u6307\u6578\u7684\u50b5\u5238\u90e8\u5206\u9032\u884c\u6bd4\u8f03\uff0c\u6839\u64da\u50b5\u5238\u92b7\u552e\u9032\u884c\u8abf\u6574\uff0c\u4e26\u70ba\u623f\u5730\u7522\u6295\u8cc7\u63d0\u4f9b\u8cc7\u91d1\u3002<\/p>\n\n\n\n<p>\u88683\uff1a\u5c31\u662f\u57fa\u91d1\u7684\u6240\u6301\u6709\u7684\u50b5\u5238\u7684\u7b49\u7d1a\u5206\u4f48\u767e\u5206\u6bd4\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>&nbsp;<\/td><td>AAA<\/td><td>AA<\/td><td>A<\/td><td>BBB<\/td><td>\u975e\u6295\u8cc7\u7d1a<\/td><td>\u7e3d\u8a08<\/td><\/tr><tr><td>\u653f\u5e9c\u50b5\u5238<\/td><td>29.8%<\/td><td>6.6%<\/td><td>12.8%<\/td><td>3.2%<\/td><td>0.8%<\/td><td>53.2%<\/td><\/tr><tr><td>\u653f\u5e9c\u7b49\u7d1a\u50b5\u5238<\/td><td>4.4%<\/td><td>4.6%<\/td><td>1.5%<\/td><td>0.4%<\/td><td>0%<\/td><td>10.9%<\/td><\/tr><tr><td>\u9023\u7d50\u901a\u81a8\u7684\u50b5\u5238<\/td><td>4%<\/td><td>1.2%<\/td><td>0.3%<\/td><td>0.4%<\/td><td>0%<\/td><td>5.9%<\/td><\/tr><tr><td>\u516c\u53f8\u50b5<\/td><td>0.2%<\/td><td>1.7%<\/td><td>10%<\/td><td>12.2%<\/td><td>0.3%<\/td><td>24.5%<\/td><\/tr><tr><td>\u8b49\u5238\u5316\u50b5\u5238<\/td><td>4.6%<\/td><td>0.8%<\/td><td>0%<\/td><td>0%<\/td><td>0%<\/td><td>5.4%<\/td><\/tr><tr><td>\u7e3d\u8a08<\/td><td>43.1%<\/td><td>14.9%<\/td><td>24.7%<\/td><td>16.1%<\/td><td>1.2%<\/td><td>100%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"223\" height=\"175\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/07\/n-2.jpg\" alt=\"\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\" class=\"wp-image-22187\"\/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%88%BF%E5%9C%B0%E7%94%A2%E6%8A%95%E8%B3%87\"><\/span><strong>\u623f\u5730\u7522\u6295\u8cc7<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u88684\uff1a\u70ba\u57fa\u91d1\u7684\u6240\u6301\u6709\u7684\u50b5\u5238\u7684\u623f\u5730\u7522\u985e\u5225\u4f54\u6bd4\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>\u623f\u5730\u7522\u985e\u5225<\/td><td>\u50f9\u503c\uff08\u55ae\u4f4d\u70ba\u767e\u842c\u632a\u5a01\u514b\u90de\uff09<\/td><\/tr><tr><td>\u975e\u4e0a\u5e02\u623f\u5730\u7522<\/td><td>273,109<\/td><\/tr><tr><td>\u4e0a\u5e02\u623f\u5730\u7522<\/td><td>146,677<\/td><\/tr><tr><td>\u7e3d\u8a08<\/td><td>419,786<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><em>\u672c\u4eba\u70ba\u539f\u6587\u4f5c\u8005\uff0c\u672c\u6587\u7cbe\u7c21\u7248\u539f\u520a\u767b\u5728Smart\u667a\u5bcc\u6708\u520b<\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\"><\/span>\u76f8\u95dc\u6587\u7ae0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/22\/%e6%8c%aa%e5%a8%81%e9%a4%8a%e8%80%81%e9%80%80%e4%bc%91%e5%9f%ba%e9%87%91%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e4%b9%8b%e8%99%95\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u503c\u5f97\u6295\u8cc7\u4eba\u5b78\u7fd2\u4e4b\u8655<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/05\/19\/%e5%80%bc%e5%be%97%e6%8a%95%e8%b3%87%e4%ba%ba%e5%ad%b8%e7%bf%92%e7%9a%84%e6%8c%aa%e5%a8%81%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u6709\u4f55\u5049\u5927\u4e4b\u8655\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/29\/%e4%b8%bb%e6%ac%8a%e5%9f%ba%e9%87%91%ef%bc%88sovereign-wealth-fund%ef%bc%9aswf%ef%bc%89\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4e3b\u6b0a\u57fa\u91d1\uff08Sovereign Wealth Fund\uff1aSWF\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/11\/25\/%e8%ab%be%e8%b2%9d%e7%88%be%e5%9f%ba%e9%87%91%e6%9c%83%e7%9a%84%e6%8a%95%e8%b3%87%e7%ad%96%e7%95%a5\/\">\u8afe\u8c9d\u723e\u57fa\u91d1\u6703\u7684\u6295\u8cc7\u7b56\u7565 <\/a>\u300b<\/li>\n<\/ul>\n\n\n\n<p><em><strong>\u91cd\u8981\u8072\u660e<\/strong><\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>\u672c\u7ad9\u5167\u5bb9\u70ba\u4f5c\u8005\u500b\u4eba\u610f\u898b\uff0c\u50c5\u4f9b\u53c3\u8003\uff0c\u672c\u4eba\u4e0d\u5c0d\u6587\u7ae0\u5167\u5bb9\u3001\u8cc7\u6599\u4e4b\u6b63\u78ba\u6027\u3001\u770b\u6cd5\u3001\u8207\u5373\u6642\u6027\u8ca0\u4efb\u4f55\u8cac\u4efb\uff0c\u8b80\u8005\u8acb\u52d9\u5fc5\u81ea\u884c\u5224\u65b7\u3002<\/em><\/li>\n\n\n\n<li><em>\u5c0d\u65bc\u8b80\u8005\u76f4\u63a5\u6216\u9593\u63a5\u4f9d\u8cf4\u4e26\u53c3\u8003\u672c\u7ad9\u8cc7\u8a0a\u5f8c\uff0c\u63a1\u53d6\u4efb\u4f55\u6295\u8cc7\u884c\u70ba\u6240\u5c0e\u81f4\u4e4b\u76f4\u63a5\u6216\u9593\u63a5\u640d\u5931\uff0c\u6216\u56e0\u6b64\u7522\u751f\u4e4b\u4e00\u5207\u8cac\u4efb\uff0c\u672c\u4eba\u5747\u4e0d\u8ca0\u4efb\u4f55\u640d\u5bb3\u8ce0\u511f\u53ca\u5176\u4ed6\u6cd5\u5f8b\u4e0a\u4e4b\u8cac\u4efb\u3002<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>\u5927\u90e8\u4efd\u6709\u6295\u8cc7\u7d93\u9a57\u7684\u4eba\u61c9\u8a72\u90fd\u807d\u904e\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\uff0c\u632a\u5a01\u4e3b\u6b0a\u57fa\u91d1\u975e\u5e38\u91cd\u8981\uff0c\u5b83\u662f\u5168\u7403\u6700\u91cd\u8981\u7684\u4e3b\u6b0a\u57fa\u91d1 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