{"id":54297,"date":"2024-08-03T23:56:00","date_gmt":"2024-08-03T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=54297"},"modified":"2026-03-03T13:30:58","modified_gmt":"2026-03-03T05:30:58","slug":"%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/","title":{"rendered":"\u7f8e\u570b\u5df2\u89f8\u767c\u6e96\u78ba\u7387\u767e\u5206\u4e4b\u767e\u7684\u7d93\u6fdf\u8870\u9000\u6307\u6a19\u85a9\u59c6\u898f\u5247\uff08Sahm Rule\uff09"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 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\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E4%BD%95%E8%AC%82%E8%96%A9%E5%A7%86%E8%A6%8F%E5%89%87%EF%BC%9F\" >\u4f55\u8b02\u85a9\u59c6\u898f\u5247\uff1f<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E8%96%A9%E5%A7%86%E7%99%BC%E6%98%8E\" >\u85a9\u59c6\u767c\u660e<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E8%A6%8F%E5%89%87\" >\u898f\u5247<\/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\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E6%AD%B7%E5%8F%B2%E9%A9%97%E8%AD%89\" >\u6b77\u53f2\u9a57\u8b49<\/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\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E6%BA%96%E7%A2%BA%E7%8E%87%E7%99%BE%E5%88%86%E4%B9%8B%E7%99%BE\" >\u6e96\u78ba\u7387\u767e\u5206\u4e4b\u767e<\/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\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E7%95%B0%E5%B8%B8%E4%BA%8B%E4%BB%B6%E5%8F%AF%E8%83%BD%E6%9C%83%E9%80%A0%E6%88%90%E6%89%AD%E6%9B%B2\" >\u7570\u5e38\u4e8b\u4ef6\u53ef\u80fd\u6703\u9020\u6210\u626d\u66f2<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E6%9C%80%E6%96%B0%E7%9A%84%E6%A1%88%E4%BE%8B\" >\u6700\u65b0\u7684\u6848\u4f8b<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E8%81%AF%E6%BA%96%E6%9C%83%E5%B9%BE%E4%B9%8E%E7%A2%BA%E5%AE%9A%E9%96%8B%E5%A7%8B%E5%8D%87%E6%81%AF\" >\u806f\u6e96\u6703\u5e7e\u4e4e\u78ba\u5b9a\u958b\u59cb\u5347\u606f<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#8%E6%9C%88%E5%A4%B1%E6%A5%AD%E7%8E%87%E5%8D%87%E8%87%B3_43\" >8\u6708\u5931\u696d\u7387\u5347\u81f3 4.3%<\/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\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E4%BC%81%E6%A5%AD%E8%B2%A1%E5%A0%B1%E4%B8%8D%E4%BD%B3\" >\u4f01\u696d\u8ca1\u5831\u4e0d\u4f73<\/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\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#8%E6%9C%882%E6%97%A5%E7%BE%8E%E8%82%A1%E6%9A%B4%E8%B7%8C\" >8\u67082\u65e5\u7f8e\u80a1\u66b4\u8dcc<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E8%96%A9%E5%A7%86%E8%A6%8F%E5%89%87%E5%B7%B2%E5%A4%B1%E6%95%88\" >\u85a9\u59c6\u898f\u5247\u5df2\u5931\u6548<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E7%99%BC%E6%98%8E%E4%BA%BA%E7%9A%84%E8%A7%A3%E9%87%8B\" >\u767c\u660e\u4eba\u7684\u89e3\u91cb<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E9%A9%97%E8%AD%89%E5%AF%A6%E4%BE%8B\" >\u9a57\u8b49\u5be6\u4f8b<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E7%B5%90%E8%AB%96\" >\u7d50\u8ad6<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%e6%a5%b5%e5%85%b6%e6%ba%96%e7%a2%ba%e7%9a%84%e8%a1%b0%e9%80%80%e6%8c%87%e6%a8%99%e8%96%a9%e5%a7%86%e8%a6%8f%e5%89%87%ef%bc%88sahm-rule%ef%bc%89\/#%E7%9B%B8%E9%97%9C%E6%96%87%E7%AB%A0\" >\u76f8\u95dc\u6587\u7ae0<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%BD%95%E8%AC%82%E8%96%A9%E5%A7%86%E8%A6%8F%E5%89%87%EF%BC%9F\"><\/span>\u4f55\u8b02\u85a9\u59c6\u898f\u5247\uff1f<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%96%A9%E5%A7%86%E7%99%BC%E6%98%8E\"><\/span>\u85a9\u59c6\u767c\u660e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u56de\u9867\u7f8e\u570b\u6b77\u53f2\uff0c\u6bcf\u7576\u5931\u696d\u7387\u6500\u5347\uff0c\u5373\u4f7f\u5347\u5e45\u5f88\u2f29\uff0c\u5e7e\u4e4e\u7e3d\u662f\u9810\u544a\u7d93\u6fdf\u6b63\u4f4d\u65bc\u8870\u9000\u2014\u9019\u7a2e\u578b\u614b\u6700\u521d\u662f\u7531\u524d\u806f\u6e96\u6703\u7d93\u6fdf\u5b78\u5bb6\u85a9\u59c6\uff08Claudia Sahm\uff09\u57282019\u5e74\u767c\u8868\u7684\u8ad6\u6587\u4e2d\u63d0\u51fa\u3002\u5979\u7684\u5206\u6790\u5f8c\u4f86\u6210\u70ba<a href=\"https:\/\/en.wikipedia.org\/wiki\/Sahm_rule\" target=\"_blank\" rel=\"noreferrer noopener\">\u300c\u85a9\u59c6\u898f\u5247\u300d\uff08Sahm Rule\uff09<\/a>\u300d\uff0c\u88ab\u8996\u70ba\u2f00\u7a2e\u8870\u9000\u6307\u6a19\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%A6%8F%E5%89%87\"><\/span>\u898f\u5247<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u9019\u689d\u898f\u5247\u7531\u524d\u806f\u6e96\u6703\u7d93\u6fdf\u5b78\u5bb6\u3001\u5c08\u6b04\u4f5c\u5bb6ClaudiaSahm\u5236\u5b9a\uff0c\u5047\u8a2d\u7576\u5931\u696d\u7387\u7684\u4e09\u500b\u6708\u79fb\u52d5\u5747\u503c\u8f03\u524d12\u500b\u6708\u4f4e\u9ede\u4e0a\u6f320.5\u500b\u767e\u5206\u9ede\u6216\u66f4\u591a\u6642\uff0c\u7d93\u6fdf\u4fbf\u958b\u59cb\u9677\u5165\u8870\u9000\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%AD%B7%E5%8F%B2%E9%A9%97%E8%AD%89\"><\/span>\u6b77\u53f2\u9a57\u8b49<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><th>\u5931\u696d\u7387%<\/th><th>\u85a9\u59c6\u503c<\/th><th>Sahm &gt; 0.5 \u6642\u7684\u6642\u9593<\/th><th>\u7d93\u6fdf\u8870\u9000\u958b\u59cb&#8230;<\/th><\/tr><tr><td>3.50%<\/td><td>0.63<\/td><td>1953 \u5e74 11 \u6708<\/td><td>4 \u500b\u6708\u524d\uff081953 \u5e74 7 \u6708\uff09<\/td><\/tr><tr><td>4.50%<\/td><td>0.50<\/td><td>1957 \u5e74 10 \u6708<\/td><td>2 \u500b\u6708\u524d\uff081957 \u5e74 8 \u6708\uff09<\/td><\/tr><tr><td>5.80%<\/td><td>0.60<\/td><td>1959 \u5e74 11 \u6708<\/td><td>5\u500b\u6708<em>\u5f8c<\/em>\uff081960\u5e744\u6708\uff09<\/td><\/tr><tr><td>4.40%<\/td><td>0.77<\/td><td>1970 \u5e74 3 \u6708<\/td><td>3 \u500b\u6708\u524d\uff081969 \u5e74 12 \u6708\uff09<\/td><\/tr><tr><td>5.50%<\/td><td>0.60<\/td><td>1974\u5e747\u6708<\/td><td>8 \u500b\u6708\u524d\uff081973 \u5e74 11 \u6708\uff09<\/td><\/tr><tr><td>6.30%<\/td><td>0.53<\/td><td>1980\u5e742\u6708<\/td><td>1 \u500b\u6708\u524d\uff081980 \u5e74 1 \u6708\uff09<\/td><\/tr><tr><td>8.30%<\/td><td>0.60<\/td><td>1981\u5e7411\u6708<\/td><td>4 \u500b\u6708\u524d\uff081981 \u5e74 7 \u6708\uff09<\/td><\/tr><tr><td>5.90%<\/td><td>0.53<\/td><td>1990\u5e7410\u6708<\/td><td>3\u500b\u6708\u524d\uff081990\u5e747\u6708\uff09<\/td><\/tr><tr><td>4.50%<\/td><td>0.50<\/td><td>2001\u5e746\u6708<\/td><td>3 \u500b\u6708\u524d\uff082001 \u5e74 3 \u6708\uff09<\/td><\/tr><tr><td>4.90%<\/td><td>0.53<\/td><td>2008\u5e742\u6708<\/td><td>2 \u500b\u6708\u524d\uff082007 \u5e74 12 \u6708\uff09<\/td><\/tr><tr><td>14.80%<\/td><td>4.00<\/td><td>2020\u5e744\u6708<\/td><td>2 \u500b\u6708\u524d\uff082020 \u5e74 2 \u6708\uff09<\/td><\/tr><tr><td>4.30%<\/td><td>0.50<\/td><td>2024 \u5e74 8 \u6708<\/td><td>&#8211;<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\">\u8868\uff1a\u85a9\u59c6\u898f\u5247\u7684\u6b77\u53f2\u6e96\u78ba\u6027\uff1b\u8b66\u5831\u8207\u7d93\u6fdf\u8870\u9000\u540c\u6642\u767c\u751f\uff08\u8868\u683c\u4f86\u81eawiki\uff09<\/figcaption><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%BA%96%E7%A2%BA%E7%8E%87%E7%99%BE%E5%88%86%E4%B9%8B%E7%99%BE\"><\/span>\u6e96\u78ba\u7387\u767e\u5206\u4e4b\u767e<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>1950 \u5e74\u4ee5\u4f86\u5df2\u767c\u751f 11 \u6b21\u7d93\u6fdf\u8870\u9000\uff0c\u85a9\u59c6\u898f\u5247\u56de\u6e2c\u7684\u6e96\u78ba\u7387\u767e\u5206\u4e4b\u767e\uff0c\u662f\u4e00\u9805\u53ef\u9760\u7684\u7d93\u6fdf\u8870\u9000\u6307\u6a19\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%95%B0%E5%B8%B8%E4%BA%8B%E4%BB%B6%E5%8F%AF%E8%83%BD%E6%9C%83%E9%80%A0%E6%88%90%E6%89%AD%E6%9B%B2\"><\/span>\u7570\u5e38\u4e8b\u4ef6\u53ef\u80fd\u6703\u9020\u6210\u626d\u66f2<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u85a9\u59c6\u672c\u2f08\u5247\u8a9e\u5e36\u4fdd\u7559\u8aaa\uff0c\u5979\u2fb8\u5275\u7684\u9019\u9805\u898f\u5247\u4f9d\u64da\u7684\u662f\u6b77\u53f2\u578b\u614b\uff0c\u4f46\u7d93\u6fdf\u82e5\u53d7\u7570\u5e38\u4e0d\u53ef\u6e2c\u7684\u4e8b\u4ef6\uff08\u4f8b\u5982\u53d7\u65b0\u51a0\u80ba\u708e\u75ab\u60c5\u7684\u64fe\u4e82\uff09\u7684\u5f71\u97ff\u6642\u53ef\u80fd\u6703\u53d7\u5230\u626d\u66f2\uff0c\u300c\u85a9\u59c6\u898f\u5247\u300d\u5728\u9019\u7a2e\u7570\u5e38\u60c5\u6cc1\u4e0b\u672a\u5fc5\u9069\u2f64\u3002<\/p>\n\n\n\n<p>\u85a9\u59c6\u8868\u793a\uff1a \u85a9\u59c6\u898f\u5247\u662f\u4e00\u7a2e\u7d93\u9a57\u898f\u5f8b\uff0c\u5b83\u4e0d\u662f\u4e00\u500b\u547d\u984c\uff0c\u4e5f\u4e0d\u662f\u4e00\u500b\u81ea\u7136\u6cd5\u5247\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E6%9C%80%E6%96%B0%E7%9A%84%E6%A1%88%E4%BE%8B\"><\/span>\u6700\u65b0\u7684\u6848\u4f8b<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%81%AF%E6%BA%96%E6%9C%83%E5%B9%BE%E4%B9%8E%E7%A2%BA%E5%AE%9A%E9%96%8B%E5%A7%8B%E5%8D%87%E6%81%AF\"><\/span>\u806f\u6e96\u6703\u5e7e\u4e4e\u78ba\u5b9a\u958b\u59cb\u5347\u606f<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>7\u670831\u65e5\u806f\u6e96\u6703\u5ba3\u5e03\u7dad\u6301\u57fa\u6e96\u5229\u7387\u5728 5.25% \u5230 5.5% \u7684\u5340\u9593\uff0c\u4e3b\u5e2d\u9b91\u723e\u4e5f\u6697\u793a 9 \u6708\u964d\u606f\u7684\u53ef\u80fd\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8%E6%9C%88%E5%A4%B1%E6%A5%AD%E7%8E%87%E5%8D%87%E8%87%B3_43\"><\/span>8\u6708\u5931\u696d\u7387\u5347\u81f3 4.3%<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>8\u67082\u65e5\u665a\u9593\u516c\u4f48\u7684\u6700\u65b0\u6578\u64da\u986f\u793a\uff0c7\u6708\u975e\u8fb2\u5c31\u696d\u4eba\u6578\u50c5\u65b0\u589e 11.4 \u842c\u4eba\uff0c\u5275\u4e0b3\u5e74\u534a\u4ee5\u4f86\u7684\u65b0\u4f4e\u3002\u7f8e\u570b7\u6708\u5931\u696d\u7387\u8f03\u524d\u6708\u4e0a\u53470.2\u500b\u767e\u5206\u9ede\u81f34.3%\uff0c\u8d85\u904e\u5e02\u5834\u9810\u671f\u76844.1%\uff0c\u63a5\u8fd13\u5e74\u4f86\u65b0\u9ad8\u3002\u800c\u5148\u524d\u7d93\u6fdf\u5b78\u5bb6\u5df2\u6307\u51fa\uff0c7\u6708\u5931\u696d\u7387\u5373\u4f7f\u4e0a\u5347\u50c50.1\u500b\u767e\u5206\u9ede\uff0c\u5c31\u5c07\u89f8\u767c\u300c\u85a9\u59c6\u898f\u5247\u300d\u9019\u4e00\u7d93\u6fdf\u8870\u9000\u9810\u6e2c\u6e96\u78ba\u7387\u9ad8\u9054100%\u7684\u5148\u884c\u6307\u6a19\u3002<\/p>\n\n\n\n<p>\u6309\u7167\u6700\u65b0\u5931\u696d\u7387\u8a08\u7b97\uff0c\u7f8e\u570b\u5931\u696d\u7387\u5f9e\u4eca\u5e74\u4ee5\u4f86\u7684\u4f4e\u9ede\u98c6\u5347\u4e860.6%\uff0c\u5931\u696d\u7387\u9023\u7e8c\u8d85\u9810\u671f\u6fc0\u589e\u6578\u6708\u5f8c\uff0c\u7d42\u65bc\u89f8\u767c\u4e86\u57fa\u65bc\u5931\u696d\u7387\u9810\u6e2c\u8870\u9000\u7684\u85a9\u59c6\u898f\u5247\uff0c\u6216\u8a31\u610f\u5473\u8457\u7f8e\u570b\u7d93\u6fdf\u5df2\u7d93\u958b\u59cb\u6b65\u5165\u8870\u9000\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E4%BC%81%E6%A5%AD%E8%B2%A1%E5%A0%B1%E4%B8%8D%E4%BD%B3\"><\/span>\u4f01\u696d\u8ca1\u5831\u4e0d\u4f73<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u7f8e\u80a1\u4e3b\u8981\u4e0a\u5e02\u4f01\u696d\u7684\u7684\u7b2c\u4e8c\u5b63\u7684\u8ca1\u5831\u5927\u90e8\u4efd\u7686\u5df2\u7d93\u516c\u4f48\uff0c\u9664\u4e86\u5c11\u6578\u5e7e\u5bb6\u8868\u73fe\u4e0d\u932f\u5916\uff0c\u5927\u90e8\u4efd\u548c\u6295\u8cc7\u4eba\u7684\u671f\u671b\u843d\u5dee\u4e0d\u5c0f\u3002\u7f8e\u80a1\u5728\u904e\u53bb\u5169\u9031\u5df2\u51fa\u73fe\u66b4\u8d77\u66b4\u843d\u7684\u8d70\u52e2\uff0c\u548c\u4e0a\u534a\u5e74\u7684\u8868\u73fe\u4e0d\u53ef\u540c\u65e5\u800c\u8a9e\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"8%E6%9C%882%E6%97%A5%E7%BE%8E%E8%82%A1%E6%9A%B4%E8%B7%8C\"><\/span>8\u67082\u65e5\u7f8e\u80a1\u66b4\u8dcc<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u679c\u4e0d\u5176\u7136\uff0c\u89f8\u767c\u6e96\u78ba\u7387\u767e\u5206\u4e4b\u767e\u7684\u7d93\u6fdf\u8870\u9000\u6307\u6a19\u85a9\u59c6\u898f\u5247\u76848\u67082\u65e5\uff0c\u5f15\u767c\u7576\u65e5\u7f8e\u80a1\u5927\u8dcc\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u7f8e\u80a1\u9053\u74ca\u6307\u6578\u4e0b\u8dcc 494.82 \u9ede\uff0c\u6216 1.21%\uff0c\u6536 40,347.97 \u9ede\u3002<\/li>\n\n\n\n<li>\u90a3\u65af\u9054\u514b\u6307\u6578\u4e0b\u8dcc 405.26 \u9ede\uff0c\u6216 2.3%\uff0c\u6536 17,194.15 \u9ede\u3002<\/li>\n\n\n\n<li>S&amp;P 500 \u6307\u6578\u4e0b\u8dcc 75.62 \u9ede\uff0c\u6216 1.37%\uff0c\u6536 5,446.68 \u9ede\u3002<\/li>\n\n\n\n<li>\u8cbb\u57ce\u534a\u5c0e\u9ad4\u6307\u6578\u4e0b\u8dcc 373.60 \u9ede\uff0c\u6216 7.14%\uff0c\u6536 4,859.59 \u9ede\u3002<\/li>\n\n\n\n<li>\u6050\u614c\u6307\u6578VIX\u5927\u6f324.8\u9ede\uff0c\u66b4\u6f3225.82%\uff0c\u653623.82\u9ede\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E8%96%A9%E5%A7%86%E8%A6%8F%E5%89%87%E5%B7%B2%E5%A4%B1%E6%95%88\"><\/span>\u85a9\u59c6\u898f\u5247\u5df2\u5931\u6548<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%99%BC%E6%98%8E%E4%BA%BA%E7%9A%84%E8%A7%A3%E9%87%8B\"><\/span>\u767c\u660e\u4eba\u7684\u89e3\u91cb<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>\u300c \u85a9\u59c6\u898f\u5247\u300d \u63d0\u51fa\u8005Claudia Sahm\u8a8d\u70ba\uff0c \u76ee\u524d\u5931\u696d\u7387\u7684\u4e0a\u5347\u4e0d\u518d\u662f\u56e0\u70ba\u5e02\u5834\u5c0d\u52de\u5de5\u7684\u9700\u6c42\u6e1b\u5f31\uff0c \u800c\u662f\u7531\u65bc\u52de\u52d5\u4f9b\u7d66\u7684\u589e\u52a0\u3002 \u4f8b\u5982\u75ab\u60c5\u5f8c\u7f8e\u570b\u79fb\u6c11\u6fc0\u589e\u5c31\u4fc3\u9032\u5c31\u696d\u5e02\u5834\u6062\u5fa9\uff0c \u5931\u696d\u7387\u7531\u6b64\u4e0a\u5347\uff0c \u5df2\u4e0d\u80fd\u4f5c\u70ba\u300c \u8870\u9000\u6307\u6a19\u300d\u4f86\u53c3\u8003\u3002<\/p>\n\n\n\n<p>2024\u5e748\u67086\u65e5\uff0c \u300c\u85a9\u59c6\u898f\u5247\u300d \u63d0\u51fa\u8005\u3001 New Century Advisors\u9996\u5e2d\u7d93\u6fdf\u5b78\u5bb6Claudia Sahm\u53c3\u8207\u4e86\u8a2a\u8ac7\u7bc0\u76ee\uff0c \u5c0d\u85a9\u59c6\u898f\u5247\u53ca\u5176\u5f71\u97ff\u5c31\u696d\u5e02\u5834\u7684\u65b9\u5f0f\u9032\u884c\u4e86\u63a2\u8a0e\u3002Claudia Sahm\u8a8d\u70ba\uff0c \u8003\u616e\u5230\u5982\u4eca\u7f8e\u570b\u5c31\u696d\u5e02\u5834\u767c\u751f\u8b8a\u5316\uff0c \u85a9\u59c6\u898f\u5247\u6709\u6240\u5931\u6548\uff0c \u4e26\u4e0d\u80fd\u8b49\u660e\u7f8e\u570b\u7f8e\u570b\u7d93\u6fdf\u5df2\u7d93\u9677\u5165\u8870\u9000\u3002Sahm\u8a8d\u70ba\u76ee\u524d\u5931\u696d\u7387\u7684\u4e0a\u5347\u4e0d\u518d\u662f\u56e0\u70ba\u5e02\u5834\u5c0d\u52de\u5de5\u7684\u9700\u6c42\u6e1b\u5f31\uff0c \u800c\u662f\u56e0\u70ba\u52de\u52d5\u4f9b\u7d66\u7684\u589e\u52a0\u3002 \u4f8b\u5982\u75ab\u60c5\u5f8c\u7f8e\u570b\u79fb\u6c11\u6fc0\u589e\u5c31\u4fc3\u9032\u5c31\u696d\u5e02\u5834\u6062\u5fa9\uff0c \u5931\u696d\u7387\u7531\u6b64\u4e0a\u5347\uff0c \u5df2\u4e0d\u80fd\u4f5c\u70ba\u8870\u9000\u6307\u6a19\u4f86\u53c3\u8003\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E9%A9%97%E8%AD%89%E5%AF%A6%E4%BE%8B\"><\/span>\u9a57\u8b49\u5be6\u4f8b<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>2025\u5e741\u670810\u65e5\uff0c\u5206\u6790\u5e2bChris Anstey\u7a31\uff0c \u96a8\u8457\u5931\u696d\u7387\u56de\u52304%\u4ee5\u4e0b\uff0c \u6211\u5011\u73fe\u5728\u53ef\u4ee5\u80af\u5b9a\u5730\u8aaa\uff0c 7\u6708\u89f8\u767c\u7684\u300c\u85a9\u59c6\u898f\u5247\u300d \u662f\u4e00\u500b\u932f\u8aa4\u7684\u4fe1\u865f\u3002\u8a72\u898f\u5247\u7a31\uff0c\u7576\u4e09\u500b\u6708\u5e73\u5747\u5931\u696d\u7387\u5f9e\u904e\u53bb12\u500b\u6708\u7684\u4f4e\u9ede\u81f3\u5c11\u4e0a\u53470.5\u500b\u767e\u5206\u9ede\u6642\uff0c \u7d93\u6fdf\u5c31\u8655\u65bc\u8870\u9000\u7684\u958b\u59cb\u3002\u534a\u5e74\u904e\u53bb\u4e86\uff0c \u5931\u696d\u7387\u6b63\u5728\u4e0b\u964d\uff0c \u6c92\u6709\u7d93\u6fdf\u8870\u9000\u7684\u8de1\u8c61\u3002 \u4e8b\u5be6\u8b49\u660e\u9019\u4e0d\u662f\u4e00\u500b\u6e96\u78ba\u7684\u8a0a\u865f\u3002<br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"%E7%B5%90%E8%AB%96\"><\/span>\u7d50\u8ad6<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u9019\u4e00\u5207\u90fd\u6307\u5411\uff1a\u806f\u6e96\u6703\u5e7e\u4e4e\u78ba\u5b9a\u6703\u958b\u59cb\u964d\u606f\uff0c\u4e5f\u986f\u793a\u7f8e\u570b\u7d93\u6fdf\u60c5\u6cc1\u958b\u59cb\u6709\u53cd\u8f49\u7684\u73fe\u8c61\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"79\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2024\/08\/sam-Custom.jpg\" alt=\"\u85a9\u59c6\u898f\u5247\" class=\"wp-image-54329\"\/><figcaption class=\"wp-element-caption\">credit: wiki<\/figcaption><\/figure>\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\/2025\/09\/26\/%e5%b8%ad%e5%8b%92cape%e6%8c%87%e6%a8%99%e6%af%94%e5%b7%b4%e8%8f%b2%e7%89%b9%e6%8c%87%e6%a8%99%e6%9b%b4%e5%90%88%e7%90%86\/\">\u5e2d\u52d2CAPE\u6307\u6a19\u70ba\u4f55\u6bd4\u5df4\u83f2\u7279\u6307\u6a19\u66f4\u5408\u7406\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/09\/20\/%e4%b8%80%e4%ba%9b%e6%8c%87%e6%a8%99%e5%b0%8d%e7%be%8e%e5%9c%8b%e8%82%a1%e5%b8%82%e5%92%8c%e6%99%af%e6%b0%a3%e8%b5%b0%e5%90%91%e5%88%a4%e8%ae%80%e6%9c%83%e6%9c%89%e5%8a%a9%e7%9b%8a\/\">\u4e00\u4e9b\u6307\u6a19\u5c0d\u7f8e\u570b\u80a1\u5e02\u548c\u666f\u6c23\u8d70\u5411\u5224\u8b80\u6703\u6709\u52a9\u76ca<\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/20\/%e8%81%af%e9%82%a6%e5%bf%ab%e9%81%9e%e5%b0%8d%e7%b6%93%e6%bf%9f%e6%99%af%e6%b0%a3%e7%9b%b4%e6%8e%a5%e7%9b%b8%e9%97%9c%e7%9a%84%e6%8c%87%e6%a8%99%e8%82%a1\/\"> <\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/07\/20\/%e8%81%af%e9%82%a6%e5%bf%ab%e9%81%9e%e5%b0%8d%e7%b6%93%e6%bf%9f%e6%99%af%e6%b0%a3%e7%9b%b4%e6%8e%a5%e7%9b%b8%e9%97%9c%e7%9a%84%e6%8c%87%e6%a8%99%e8%82%a1\/\">\u806f\u90a6\u5feb\u905e\uff08Fedex\uff09\u5c0d\u7d93\u6fdf\u666f\u6c23\u76f4\u63a5\u76f8\u95dc\u7684\u6307\u6a19\u80a1\u5982\u4f55\u8cfa\u9322\uff1f\u70ba\u4f55\u6b63\u5728\u8d70\u4e0b\u5761\uff1f <\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/08\/11\/%e6%83%a0%e8%ad%bd%e4%b8%8b%e8%aa%bf%e7%be%8e%e5%9c%8b%e4%bf%a1%e7%94%a8%e8%a9%95%e7%b4%9a%e7%9a%84%e7%90%86%e7%94%b1%e5%92%8c%e5%bd%b1%e9%9f%bf\/\">\u60e0\u8b7d\u4e0b\u8abf\u7f8e\u570b\u4fe1\u7528\u8a55\u7d1a\u7684\u7406\u7531\u548c\u5f71\u97ff<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/03\/%E6%A5%B5%E5%85%B6%E6%BA%96%E7%A2%BA%E7%9A%84%E8%A1%B0%E9%80%80%E6%8C%87%E6%A8%99%E8%96%A9%E5%A7%86%E8%A6%8F%E5%89%87%EF%BC%88sahm-rule%EF%BC%89\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6e96\u78ba\u7387\u767e\u5206\u4e4b\u767e\u7684\u7d93\u6fdf\u8870\u9000\u6307\u6a19\u85a9\u59c6\u898f\u5247\uff08Sahm Rule\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/01\/11\/%e9%9d%9e%e7%90%86%e6%80%a7%e7%b9%81%e6%a6%ae%e6%8c%87%e6%a8%99\/\">\u975e\u7406\u6027\u7e41\u69ae\uff08Irrational Exuberance\uff09\u6307\u6a19<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/11\/04\/%e4%bc%81%e6%a5%ad%e5%b0%8e%e5%90%91%e5%85%ac%e5%8f%b8%e8%bc%83%e8%83%bd%e6%89%bf%e5%8f%97%e7%b6%93%e6%bf%9f%e8%a1%b0%e9%80%80\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u4f01\u696d\u5c0e\u5411\u516c\u53f8\u8f03\u80fd\u627f\u53d7\u7d93\u6fdf\u8870\u9000<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/01\/04\/%E5%85%A8%E7%90%83%E8%A1%B0%E9%80%80%E4%B8%AD%E7%BE%8E%E8%82%A1%E6%8A%95%E8%B3%87%E4%BA%BA%E7%9A%84%E8%8B%A6%E6%97%A5%E5%AD%90%E9%82%84%E5%9C%A8%E5%BE%8C%E9%A0%AD\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5168\u7403\u8870\u9000\u4e2d\uff0c\u7f8e\u80a1\u6295\u8cc7\u4eba\u7684\u82e6\u65e5\u5b50\u9084\u5728\u5f8c\u982d<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/08\/07\/%e7%be%8e%e8%82%a1%e7%ac%ac%e4%ba%8c%e5%ad%a3%e8%b2%a1%e5%a0%b1%e7%82%ba%e4%bd%95%e5%bc%95%e7%99%bc%e8%82%a1%e5%b8%82%e4%b8%8b%e8%b7%8c%ef%bc%9f\/\" target=\"_blank\" rel=\"noreferrer noopener\">2024\u7b2c\u4e8c\u5b63\u8ca1\u5831\u5f8c\u70ba\u4f55\u5f15\u767c\u7f8e\u80a1\u4e0b\u8dcc\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/06\/27\/%E5%B7%B4%E8%8F%B2%E7%89%B9%E6%8C%87%E6%A8%99\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u8861\u91cf\u80a1\u5e02\u662f\u5426\u904e\u71b1\u5177\u8aaa\u670d\u529b\u7684\u5df4\u83f2\u7279\u6307\u6a19\uff08Buffett indicator\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/09\/29\/%e6%8a%95%e8%b3%87%e4%ba%ba%e7%9a%84%e5%85%a9%e5%a4%a7%e6%ae%ba%e6%89%8b%e9%80%9a%e8%86%a8%e5%92%8c%e5%88%a9%e7%8e%87\/\">\u6295\u8cc7\u4eba\u7684\u4e09\u5927\u6bba\u624b\uff1a\u901a\u81a8\uff0c\u5229\u7387\uff0c\u548c\u7a05\u8ce6<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/07\/04\/%e5%a6%82%e4%bd%95%e7%9c%8b%e5%be%85%e7%b8%bd%e9%ab%94%e7%b6%93%e6%bf%9f%e8%b5%b0%e5%8b%a2%e5%92%8c%e9%a0%90%e6%b8%ac%ef%bc%9f\/\">\u6295\u8cc7\u4eba\u61c9\u5982\u4f55\u770b\u5f85\u7e3d\u9ad4\u7d93\u6fdf\u8d70\u52e2\u548c\u9810\u6e2c\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/11\/27\/%e6%8a%95%e8%b3%87%e7%be%8e%e8%82%a1%e9%9c%80%e8%a6%81%e6%b3%a8%e6%84%8f%e5%8c%af%e7%8e%87%e9%a2%a8%e9%9a%aa%e5%97%8e%ef%bc%9f\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6295\u8cc7\u7f8e\u80a1\u9700\u8981\u6ce8\u610f\u532f\u7387\u98a8\u96aa\u55ce\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/05\/%e5%96%ae%e5%88%a9%e5%92%8c%e8%a4%87%e5%88%a9%e8%a8%88%e7%ae%97%e5%99%a8\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u55ae\u5229\u548c\u8907\u5229\u8a08\u7b97\u5668<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/06\/26\/%e5%9c%8b%e5%85%a7%e7%94%9f%e7%94%a2%e7%b8%bd%e5%80%bc%ef%bc%88gdp%ef%bc%89%e5%92%8c%e8%82%a1%e5%83%b9%e7%9a%84%e9%97%9c%e4%bf%82\/\">\u570b\u5167\u751f\u7522\u7e3d\u503c\uff08GDP\uff09\u548c\u80a1\u50f9\u7684\u95dc\u4fc2<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/29\/%e7%be%8e%e5%9c%8b%e6%ad%b7%e5%b9%b4%e5%9c%8b%e5%85%a7%e7%94%9f%e7%94%a2%e7%b8%bd%e5%80%bcgdp%e6%9f%a5%e8%a9%a2%e5%99%a8\/\">\u7f8e\u570b\u6b77\u5e74\u570b\u5167\u751f\u7522\u7e3d\u503cGDP\u67e5\u8a62\u5668<\/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<em>\u53ca\u5176\u4ed6\u6cd5\u5f8b\u4e0a\u4e4b\u8cac\u4efb\u3002<\/em><\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>1950 \u5e74\u4ee5\u4f86\u5df2\u767c\u751f 11 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