{"id":8921,"date":"2023-02-18T23:56:00","date_gmt":"2023-02-18T15:56:00","guid":{"rendered":"https:\/\/www.granitefirm.com\/blog\/?p=8921"},"modified":"2025-10-09T10:48:24","modified_gmt":"2025-10-09T02:48:24","slug":"%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87","status":"publish","type":"post","link":"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/02\/18\/%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87\/","title":{"rendered":"\u9280\u884c\u80a1\u7684\u6295\u8cc7\u548c\u5176\u5b83\u7522\u696d\u6709\u4f55\u4e0d\u540c\uff1f"},"content":{"rendered":"\n<p>\u6211\u5728\u300a<a href=\"https:\/\/www.books.com.tw\/products\/0010935641?sloc=main\" target=\"_blank\" rel=\"noreferrer noopener\">10\u500d\u80a1\u6cd5\u5247<\/a>\u300b\u4e00\u66f8\u8a0e\u8ad6\u5230\u9280\u884c\u696d\u7684\u5167\u5bb9\u5982\u4e0b\uff0c\u7279\u5225\u662f3-8\u5c0f\u7bc0\u5c0d\u9280\u884c\u696d\u7684\u6295\u8cc7\u6709\u8f03\u6df1\u5165\u7684\u5c08\u9580\u5c0f\u7bc0\u7684\u8a0e\u8ad6\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>3-2 \u91d1\u878d\u79d1\u6280<\/li>\n\n\n\n<li>3-8 \u91d1\u878d\u670d\u52d9\uff0c174\u9801\u5230176\u9801<\/li>\n<\/ul>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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\/2023\/02\/18\/%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87\/#%E9%8A%80%E8%A1%8C%E6%A5%AD%E7%9A%84%E7%89%B9%E6%80%A7\" >\u9280\u884c\u696d\u7684\u7279\u6027<\/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\/2023\/02\/18\/%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87\/#%E4%B8%80%E8%88%AC%E4%BA%BA%E6%8A%95%E8%B3%87%E9%8A%80%E8%A1%8C%E8%82%A1%E5%BE%88%E9%9B%A3%E8%B3%BA%E5%88%B0%E5%A4%A7%E9%8C%A2\" >\u4e00\u822c\u4eba\u6295\u8cc7\u9280\u884c\u80a1\u5f88\u96e3\u8cfa\u5230\u5927\u9322<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/02\/18\/%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87\/#%E5%8F%B0%E7%81%A3%E7%9A%84%E9%8A%80%E8%A1%8C%E8%82%A1\" >\u53f0\u7063\u7684\u9280\u884c\u80a1<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/02\/18\/%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87\/#%E8%91%97%E5%90%8D%E6%8A%95%E8%B3%87%E4%BA%BA%E7%9A%84%E9%8A%80%E8%A1%8C%E8%82%A1%E6%8A%95%E8%B3%87%E6%A1%88%E4%BE%8B\" >\u8457\u540d\u6295\u8cc7\u4eba\u7684\u9280\u884c\u80a1\u6295\u8cc7\u6848\u4f8b<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/02\/18\/%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87\/#%E6%88%91%E5%80%91%E5%AD%B8%E5%88%B0%E7%9A%84%E6%95%99%E8%A8%93\" >\u6211\u5011\u5b78\u5230\u7684\u6559\u8a13<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/02\/18\/%e9%8a%80%e8%a1%8c%e8%82%a1%e7%9a%84%e6%8a%95%e8%b3%87\/#%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 has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E9%8A%80%E8%A1%8C%E6%A5%AD%E7%9A%84%E7%89%B9%E6%80%A7\"><\/span><strong>\u9280\u884c\u696d\u7684\u7279\u6027<\/strong> <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u7f8e\u570b\u6709\u7d044,500\u5bb6\u4ee5\u4e0a\u7684\u9280\u884c\uff0c\u800c\u4e14\u7f8e\u570b\u7684\u9280\u884c\u5206\u7d1a\u8907\u96dc\uff0c\u898f\u6a21\u548c\u696d\u52d9\u5dee\u7570\u5f88\u5927\uff0c\u4e0d\u50cf\u53f0\u7063\u53ea\u670938\u5bb6\u672c\u571f\u52a0\u4e0a\u5916\u5546\u9280\u884c\u3002\u9280\u884c\u80a1\u975e\u5e38\u7279\u5225\uff0c\u6709\u4ee5\u4e0b\u7684\u7279\u6027\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u9700\u8981\u57f7\u7167\u624d\u80fd\u7d93\u71df\uff0c\u662f\u6240\u6709\u884c\u696d\u4e2d\u53d7\u6cd5\u898f\u5f71\u97ff\u7684\u524d\u5169\u5927\u884c\u696d\uff0c\u7b2c\u4e00\u5927\u61c9\u8a72\u662f\u91ab\u7642\u751f\u6280\u7522\u696d\u3002\u9019\u5169\u5927\u7522\u696d\uff0c\u4ee5\u5ee3\u7fa9\u7684\u6db5\u84cb\u800c\u8a00\uff0c\u91ab\u7642\u91d1\u878d\u5404\u4f54\u7f8e\u570bGDP\u76848%\u5de6\u53f3\uff0c\u91ab\u7642\u751f\u6280\u7522\u696d\u6bd48%\u9ad8\u4e00\u9ede\uff0c\u800c\u4e14\u91ab\u7642\u751f\u6280\u7522\u696d\u4ecd\u6301\u7e8c\u5728\u6210\u9577\uff0c\u4f46\u5ee3\u7fa9\u7684\u91d1\u878d\u884c\u696d\u6210\u9577\u5e45\u5ea6\u8f03\u5c0f\u3002<\/li>\n\n\n\n<li>\u548c\u7d93\u6fdf\u666f\u6c23\u5b8c\u5168\u9023\u52d5\uff0c\u5c24\u5176\u662f\u5229\u7387\u53ea\u8981\u8abf\u9ad8\uff0c\u6240\u6709\u9280\u884c\u80a1\u4e00\u5b9a\u5927\u6f32\uff1b\u56e0\u70ba\u9280\u884c\u4e3b\u8981\u662f\u9760\u5229\u5dee\u76c8\u5229\uff0c\u767e\u5e74\u4f86\u6c92\u8b8a\u3002<\/li>\n\n\n\n<li>\u9280\u884c\u672c\u8eab\u662f\u5c6c\u65bc\u4eb3\u7121\u751f\u7522\u529b\uff0c\u9664\u4e86\u8cfa\u53d6\u5229\u5dee\u548c\u624b\u7e8c\u8cbb\u5916\uff08\u56e0\u70ba\u7279\u8a31\u57f7\u7167\u6388\u4e88\u5b83\u9019\u9805\u6b0a\u5229\uff09\uff0c\u9280\u884c\u6c92\u6709\u5225\u7684\u672c\u4e8b\uff0c\u662f\u7121\u6cd5\u7522\u51fa\u7522\u54c1\u7684\u884c\u696d\u3002<\/li>\n\n\n\n<li>\u5927\u90e8\u4efd\u80a1\u5e02\u7684\u4f30\u503c\u65b9\u5f0f\u5c0d\u9280\u884c\u80a1\u90fd\u4e0d\u9069\u7528\uff1b\u63db\u500b\u65b9\u5f0f\u4f86\u8aaa\uff0c\u9280\u884c\u80a1\u7684\u4f30\u503c\u5728\u80a1\u5e02\u88e1\u9762\u662f\u7368\u6a39\u4e00\u683c\u7684\u4e00\u7fa4\u3002\u60a8\u5982\u679c\u4e0b\u5b9a\u6c7a\u5fc3\u8981\u6295\u5165\u9280\u884c\u80a1\uff0c\u53ef\u5f97\u62b1\u5b9a\u5fc5\u9808\u4e1f\u6389\u60a8\u4e4b\u524d\u7684\u8a31\u591a\u4f30\u503c\u65b9\u5f0f\u3002\u7279\u5225\u8981\u63d0\u51fa\u7684\u662f\u9280\u884c\u80a1\u7279\u5225\u6ce8\u91cd\u8cc7\u7522\u8ca0\u50b5\u8868\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E4%B8%80%E8%88%AC%E4%BA%BA%E6%8A%95%E8%B3%87%E9%8A%80%E8%A1%8C%E8%82%A1%E5%BE%88%E9%9B%A3%E8%B3%BA%E5%88%B0%E5%A4%A7%E9%8C%A2\"><\/span><strong>\u4e00\u822c\u4eba\u6295\u8cc7\u9280\u884c\u80a1\u5f88\u96e3\u8cfa\u5230\u5927\u9322<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u9996\u5148\uff0c\u57fa\u672c\u4e0a\u6c92\u6709\u4eba\u6703\u671f\u671b\u9280\u884c\u80a1\u6703\u5927\u6f32\u3002\u5728\u5927\u90e8\u4efd\u7684\u6642\u9593\u88e1\uff0c\u9280\u884c\u80a1\u7684\u8868\u73fe\u90fd\u6703\u8dd1\u8f38\u5927\u76e4\uff0c\u7406\u7531\u5f88\u7c21\u55ae\uff0c\u5404\u4f4d\u53ef\u4ee5\u53c3\u8003\u4e0a\u9762\u4e00\u5c0f\u7bc0\u6240\u5217\u9280\u884c\u7522\u696d\u7684\u7279\u6027\u5c31\u80fd\u66b8\u89e3\u70ba\u4ec0\u9ebc\u4e86\u3002<\/p>\n\n\n\n<p>\u9280\u884c\u80a1\u53ea\u6709\u5169\u7a2e\u4eba\u6703\u53bb\u8cb7\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u7b2c\u4e00\u662f\u80fd\u529b\u5708\u5728\u9019\u500b\u9280\u884c\u8005\uff0c\u4f8b\u5982\u5df4\u83f2\u7279\uff0c\u5f8c\u9762\u6703\u5728\u8a73\u8ac7\u3002<\/li>\n\n\n\n<li>\u7b2c\u4e8c\u7a2e\u5c31\u662f\u5e0c\u671b\u53ef\u4ee5\u6709\u914d\u80a1\u5229\u800c\u4e14\u500b\u6027\u7121\u6cd5\u627f\u53d7\u80a1\u50f9\u6ce2\u52d5\u8005\u3002\u6211\u9019\u88e1\u6307\u7684\u662f\u4e0b\u8dcc\uff0c\u56e0\u70ba\u6c92\u6709\u4eba\u6703\u6307\u671b\u9280\u884c\u80a1\u7684\u80a1\u50f9\u6f32\u8dcc\u53ef\u4ee5\u8d85\u8d8a\u5927\u76e4\uff0c\u4e2d\u5916\u7686\u7136\uff0c\u6c92\u6709\u4efb\u4f55\u4e00\u570b\u7684\u9280\u884c\u80a1\u6703\u4f8b\u5916\u3002<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E5%8F%B0%E7%81%A3%E7%9A%84%E9%8A%80%E8%A1%8C%E8%82%A1\"><\/span><strong>\u53f0\u7063\u7684\u9280\u884c\u80a1<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-normal-font-size\">\u53f0\u7063\u7684\u9280\u884c\u80a1\u6295\u8cc7\u5f88\u7578\u5f62\uff0c\u5bb9\u6211\u6162\u6162\u8aaa\u660e<strong>\u3002<\/strong>\u53f0\u80a1\u6295\u8cc7\u4eba\u5c0d\u6295\u8cc7\u9280\u884c\u80a1\uff0c\u6050\u6015\u662f\u6211\u6240\u7684\u5404\u570b\u80a1\u5e02\u4e2d\uff0c\u6700\u7a4d\u6975\u71b1\u8877\u8005\u3002\u9019\u500b\u73fe\u8c61\u5728\u53f0\u80a1\u5f88\u666e\u904d\uff0c\u800c\u4e14\u5e7e\u4e4e\u8fd120\u5e74\u4f86\u8b8a\u6210\u8a31\u591a\u80a1\u6c11\u90fd\u300c\u63a5\u53d7\u4e14\u8a8d\u53ef\u7684\u975e\u6210\u6587\u5b9a\u5f8b\u300d\u3002\u6211\u8a8d\u70ba\u6709\u4ee5\u4e0b\u5e7e\u500b\u56e0\u7d20\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u53f0\u7063\u8fd120\u5e74\u4f86\u5927\u90e8\u4efd\u4eba\uff08\u9664\u53bb\u79d1\u6280\u696d\u548c\u5916\u5546\uff09\uff0c\u85aa\u6c34\u5e7e\u4e4e\u6c92\u6709\u5927\u5e45\u5730\u589e\u9577\u3002<\/li>\n\n\n\n<li>\u53f0\u7063\u7684\u5229\u738720\u5e74\u4f86\u8d70\u7684\u662f\u9577\u671f\u4f4e\u5229\u653f\u7b56\uff0c\u5e02\u5834\u8cc7\u91d1\u7121\u8655\u53bb\u3002<\/li>\n\n\n\n<li>\u6c92\u6709\u5b9a\u671f\u914d\u606f\u7684\u4efb\u4f55\u91d1\u878d\u7522\u54c1\uff0c\u5728\u53f0\u7063\u5e7e\u4e4e\u8ce3\u4e0d\u52d5\uff0c\u9019\u4e5f\u662f\u70ba\u4f55\u53f0\u7063\u5132\u84c4\u4fdd\u55ae\u6c3e\u6feb\u7684\u539f\u56e0\uff0c\u9019\u7a2e\u4fdd\u55ae\u7684\u8a2d\u8a08\u5176\u5be6\u5df2\u7d93\u5931\u53bb\u4fdd\u96aa\u7684\u610f\u7fa9\u3002\u53f0\u7063\u5132\u84c4\u4fdd\u55ae\u4ee5\u570b\u5916\u4f86\u770b\uff0c\u5176\u5be6\u662f\u5e74\u91d1\u7684\u6982\u5ff5\u3002<\/li>\n\n\n\n<li>\u56b4\u683c\u4f86\u8aaa\uff0c\u9664\u4e86\u53f0\u7a4d\u96fb\uff0c\u53f0\u7063\u5f88\u96e3\u627e\u5230\u9069\u5408\u9577\u671f\u6295\u8cc7\u7684\u5b8c\u7f8e\u6a19\u7684\u3002\u8acb\u6ce8\u610f\uff0c\u6211\u662f\u6307\u5982\u679c\u53ea\u8003\u616e\u53f0\u7063\uff0c\u7f8e\u80a1\u5c31\u5b8c\u5168\u4e0d\u662f\u9019\u9ebc\u56de\u4e8b\u4e86\uff0c\u56e0\u70ba\u5728\u7f8e\u80a1\u6bd4\u53f0\u7a4d\u96fb\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aTSM\uff09\u597d\u7684\u9078\u64c7\u8d77\u78bc\u6709\u5e7e\u767e\u5bb6\u3002\u8209\u4f8b\u800c\u8a00\uff0c\u5c31\u6210\u9577\u80a1\u548c\u5831\u916c\u7387\u800c\u8a00\uff0c\u53f0\u7a4d\u96fb\u82e5\u653e\u5728\u7f8e\u80a1\uff0c\u4e26\u4e0d\u662f\u7b97\u5f88\u512a\u826f\u7684\u6a19\u7684\u3002<\/li>\n\n\n\n<li>\u8fd130\u5e74\u4f86\uff0c\u53f0\u7063\u6c92\u6709\u65b0\u7684\u7522\u696d\u51fa\u73fe\uff0c\u6c92\u6709\u65b0\u7522\u696d\uff0c\u80a1\u5e02\u5c31\u6c92\u6709\u5927\u91cf\u65b0\u751f\u7684\u52d5\u529b\uff0c\u4e5f\u5c31\u6c92\u6709\u6bd4\u8f03\u3002<\/li>\n\n\n\n<li>\u9019\u4e9b\u539f\u56e0\uff0c\u9020\u6210\u53f0\u7063\u6295\u8cc7\u4eba\u6e67\u5411\u5b58\u80a1\uff0c\u628a\u5b58\u80a1\u7576\u6210\u8cb7\u5132\u84c4\u4fdd\u96aa\uff0c\u56e0\u70ba\u9280\u884c\u80a1\u90fd\u6703\u914d\u80a1\u5229\u3002\u9280\u884c\u80a1\u80a1\u50f9\u901a\u5e38\u4e0d\u600e\u9ebc\u6f32\uff0c\u4e0d\u914d\u80a1\u5229\uff0c\u5c31\u6c92\u5438\u5f15\u529b\u4e86\u3002\u76f8\u8f03\u4e0b\uff0c\u80a1\u50f9\u6f32\u4e0d\u52d5\uff0c\u6c11\u773e\u5c31\u4e0d\u662f\u90a3\u6a23\u5728\u610f\uff0c\u56e0\u70ba\u6c92\u6709\u6bd4\u8f03\u5c31\u6c92\u6709\u50b7\u5bb3\uff0c\u66f4\u770b\u4e0d\u51fa\u5dee\u5225\u3002<\/li>\n\n\n\n<li>\u7e3d\u4e4b\uff0c\u5728\u4e00\u6f6d\u6b7b\u6c34\u7684\u74b0\u5883\uff0c\u5982\u679c\u540c\u5115\u90fd\u53ea\u6709\u5fae\u5229\u7684\u5831\u916c\uff0c\u4e45\u4e86\u4e4b\u5f8c\uff0c\u5927\u90e8\u4efd\u7684\u4eba\u6703\u8a8d\u70ba\u9019\u6a23\u7684\u6295\u8cc7\u65b9\u5f0f\u662f\u7406\u6240\u7576\u7136\u7684\u3002\u5982\u679c\u53bb\u8cb7\u7f8e\u570b\u6703\u914d\u80a1\u5229\u7684\u516c\u53f8\uff0c\u5c31\u5b8c\u5168\u4e0d\u662f\u9019\u56de\u4e8b\u4e86\u3002\u7f8e\u570b\u4e0a\u5e02\u516c\u53f8\u91cd\u8996\u7684\u662f\u6210\u9577\u6027\uff0c\u5373\u4f7f\u914d\u767c\u80a1\u5229\u7684\u516c\u53f8\uff0c\u80a1\u50f9\u5927\u90e8\u4efd\u90fd\u9084\u662f\u6703\u4e0a\u6f32\uff1b\u53ea\u662f\u53ef\u80fd\u6c92\u50cf\u79d1\u6280\u80a1\u90a3\u6a23\u7684\u5927\u5e45\u6ce2\u52d5\u800c\u5df2\uff0c\u4f46\u4e0d\u6703\u50cf\u53f0\u80a1\u6240\u6709\u7684\u4eba\u90fd\u64e0\u5411\u9280\u884c\u80a1\u53bb\u5b58\u80a1\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u9019\u53c8\u518d\u6b21\u5370\u8b49\u4e86\u6211\u5e38\u639b\u5728\u53e3\u4e2d\u7684\u8a71\u2500\u2500\u2500\u2500\u773e\u4eba\u7684\u770b\u6cd5\u4e0d\u4e00\u5b9a\u662f\u5c0d\uff0c\u5c24\u5176\u5728\u80a1\u5e02\u6295\u8cc7\u4e0a\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u8b80\u8005\u6709\u8208\u8da3\u7684\u8a71\uff0c\u53ef\u53c3\u8003\u6211\u7684\u53e6\u4e00\u7bc7\u90e8\u843d\u683c\u7684\u6587\u7ae0\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/06\/17\/%e6%88%91%e7%82%ba%e4%bd%95%e9%9d%92%e7%9d%9e%e6%88%90%e9%95%b7%e8%82%a1%e8%80%8c%e9%9d%9e%e5%83%b9%e5%80%bc%e8%82%a1%ef%bc%9f\/\">\u6211\u70ba\u4f55\u9752\u775e\u6210\u9577\u80a1\u800c\u975e\u50f9\u503c\u80a1\uff1f<\/a>\u300b<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E8%91%97%E5%90%8D%E6%8A%95%E8%B3%87%E4%BA%BA%E7%9A%84%E9%8A%80%E8%A1%8C%E8%82%A1%E6%8A%95%E8%B3%87%E6%A1%88%E4%BE%8B\"><\/span><strong>\u8457\u540d\u6295\u8cc7\u4eba\u7684\u9280\u884c\u80a1\u6295\u8cc7\u6848\u4f8b<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u60a8\u80fd\u60f3\u82b1\u65d7\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aC\uff09\u5728\u91d1\u878d\u6d77\u562f\u5f8c\u90a3\u5e7e\u5e74\u4e00\u8def\u8dcc\u7834\u4e00\u5143\uff0c \u7f8e\u570b\u9280\u884c\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aBAC\uff09 \u4e5f\u57282011\u5e74\u8dcc\u52302.53\u5143\u55ce\uff1f<\/p>\n\n\n\n<p>\u6bb5\u6c38\u5e73\u66fe\u900f\u9732\u57282008\u5e74\u91d1\u878d\u6d77\u562f\u5f8c\uff0c\u9280\u884c\u80a1\u5be6\u5728\u8dcc\u5f97\u4e0d\u50cf\u6a23\uff0c\u5728\u505a\u4e86\u5f88\u591a\u7684\u529f\u8ab2\u548c\u7814\u7a76\uff0c\u4e5f\u8acb\u6559\u4e86\u4ed6\u7684\u8a31\u591a\u670b\u53cb\u2500\u2500\u2500\u2500\u96d6\u7136\u4ed6\u77e5\u9053\u7576\u6642\u8cb7\u5165\uff0c\u5f80\u5f8c\u4e00\u5b9a\u53ef\u4ee5\u7372\u5229\uff0c\u4f46\u6700\u5f8c\u4ed6\u5fcd\u75db\u653e\u68c4\u4e86\uff0c\u56e0\u70ba\u4ed6\u8a8d\u70ba\u4ed6\u5c0d\u9280\u884c\u696d\u5be6\u5728\u4e0d\u61c2\uff0c\u4e0d\u5728\u4ed6\u7684\u80fd\u529b\u5708\u7bc4\u570d\u5167\u3002\u6211\u500b\u4eba\u8a8d\u70ba\u4ed6\u7684\u6c7a\u5b9a\u662f\u5c0d\u7684\uff0c\u9019\u4e5f\u662f\u4ed6\u7684\u6295\u8cc7\u80fd\u6210\u529f\u7684\u4e3b\u8981\u539f\u56e0\u4e4b\u4e00\u3002<\/p>\n\n\n\n<p>\u7f8e\u570b\u9280\u884c\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aBAC\uff09\u56e0\u5728\u91d1\u878d\u6d77\u562f\u524d\u6253\u5305\u51fa\u552e\u52a3\u8cea\u4e0d\u52d5\u7522\u62b5\u62bc\u50b5\uff08Mortgage Backed Security\uff1aMBS\uff09\uff0c\u906d\u7f8e\u53f8\u6cd5\u90e8\u91cd\u7f70166.5\u5104\u7f8e\u5143\uff0c\u5176\u4e2d96.5\u5104\u7f8e\u5143\u9084\u5fc5\u9808\u7acb\u5373\u7528\u73fe\u91d1\u652f\u4ed8\u3002\u5df4\u83f2\u7279\u8d81\u6a5f\u9032\u5834\u4f54\u4e86\u7f8e\u9280\u7684\u4fbf\u5b9c\uff0c\u53c3\u52a050\u5104\u7f8e\u5143\u7684\u8cfc\u80a1\u8a08\u756b\uff0c\u5305\u62ec\u4ee5\u6bcf\u80a17.14\u7f8e\u5143\u8cb7\u90327\u5104\u80a1\u7f8e\u9280\u666e\u901a\u80a1\u7684\u8a8d\u80a1\u6b0a\u3002\u9019\u4e5f\u662f\u70ba\u4f55\u7f8e\u9280\u662f\u73fe\u5728\u6ce2\u514b\u590f\u7b2c\u4e8c\u5927\u6301\u80a1\u7684\u4e3b\u8981\u539f\u56e0\u4e4b\u4e00\uff08432\u5104\u7f8e\u91d1\uff0c\u50c5\u6b21\u65bc\u860b\u679c\u76841,156\u5104\u7f8e\u91d1\uff09\u3002<\/p>\n\n\n\n<p>\u5df4\u83f2\u7279\u66f4\u5728\u91d1\u878d\u6d77\u562f\u6700\u56b4\u91cd\u7684\u6642\u5019\uff0c\u8d81\u9ad8\u76db\uff08\u7f8e\u80a1\u4ee3\u78bc\uff1aGS\uff09\u4e4b\u5371\uff0c\u786c\u662f\u8981\u9ad8\u76db\u4ee5\u6975\u9ad8\u7684\u5229\u606f\u4ee3\u50f9\uff0c\u8b93\u5df4\u83f2\u7279\u51fa\u624b\u76f8\u6551\uff0c\u4ee5\u6bcf\u80a1115\u7f8e\u5143\u7684\u50f9\u683c\u8cb7\u5165\u9ad8\u76db\u7684\u8cfc\u5165\u512a\u5148\u80a1\uff0c\u53d6\u5f97\u9ad8\u76db50\u5104\u7f8e\u5143\u7684\u8a8d\u80a1\u6b0a\u8b49\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><span class=\"ez-toc-section\" id=\"%E6%88%91%E5%80%91%E5%AD%B8%E5%88%B0%E7%9A%84%E6%95%99%E8%A8%93\"><\/span><strong>\u6211\u5011\u5b78\u5230\u7684\u6559\u8a13<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>\u9019\u5169\u500b\u5f88\u6975\u7aef\u7684\u4f8b\u5b50\u544a\u8a34\u6211\u5011\uff0c\u53ea\u8981\u662f\u60a8\u7684\u80fd\u529b\u5708\u5728\u9280\u884c\u696d\u8005\uff0c\u4ecd\u7136\u53ef\u4ee5\u6295\u8cc7\u9280\u884c\u80a1\uff0c\u4e26\u5927\u8cfa\u5176\u9322\u3002 \u4f46\u6642\u6a5f\u5f88\u91cd\u8981\uff0c\u5e73\u5e38\u9280\u884c\u80a1\u4e0d\u53ef\u80fd\u6709\u66b4\u6f32\u7684\u53ef\u80fd\u7684\uff0c\u9019\u9ede\u6295\u8cc7\u4eba\u5fc5\u9808\u5148\u641e\u6e05\u695a\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"182\" height=\"127\" src=\"https:\/\/www.granitefirm.com\/blog\/wp-content\/uploads\/2022\/10\/bank.jpg\" alt=\"\u9280\u884c\" class=\"wp-image-26634\"\/><figcaption class=\"wp-element-caption\">credit: freepik<\/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\/08\/14\/%e3%80%8a%e5%a4%a7%e5%88%b0%e4%b8%8d%e8%83%bd%e5%80%92%e3%80%8b\/\">\u300a\u5927\u5230\u4e0d\u80fd\u5012\uff08Too Big To Fall\uff09\u300b-2008\u5e74\u91d1\u878d\u98a8\u66b4\u6700\u4f73\u5165\u9580<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/08\/20\/%e6%88%bf%e5%88%a9%e7%be%8e%e5%92%8c%e6%88%bf%e5%9c%b0%e7%be%8e%e6%b1%ba%e5%ae%9a%e9%87%8d%e6%96%b0%e4%b8%8a%e5%b8%82\/\">\u623f\u5229\u7f8e\u548c\u623f\u5730\u7f8e\uff08Fannie Mae\uff0cFreddie Mac\uff09\u5f88\u53ef\u80fd\u6703\u91cd\u65b0\u4e0a\u5e02<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2023\/06\/02\/%E7%9F%BD%E2%BE%95%E9%8A%80%E2%BE%8F%E6%98%AF%E5%A6%82%E4%BD%95%E7%A0%B4%E7%94%A2%E7%9A%84%EF%BC%9F%E5%BD%B1%E9%9F%BF%E7%82%BA%E4%BD%95%EF%BC%9F\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u77fd\u2f95\u9280\u2f8f\u662f\u5982\u4f55\u7834\u7522\u7684\uff1f\u5f71\u97ff\u70ba\u4f55\uff1f<\/a>\u300b<\/li>\n\n\n\n<li><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/06\/22\/%e3%80%8a%e9%bb%91%e9%87%91%e9%a2%a8%e6%9a%b4inside-job%e3%80%8b\/\">\u300a\u9ed1\u91d1\u98a8\u66b4(Inside Job)\u300b<\/a><\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2025\/10\/08\/%e6%8a%95%e8%b3%87%e9%8a%80%e8%a1%8c%e4%b9%8b%e7%8e%8b%e6%91%a9%e6%a0%b9%e5%a3%ab%e4%b8%b9%e5%88%a9\/\">\u6295\u8cc7\u9280\u884c\u4e4b\u738b\u6469\u6839\u58eb\u4e39\u5229\uff08Morgan Stanley\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/12\/%E5%85%A8%E7%90%83%E6%9C%80%E5%A4%A7%E9%8A%80%E8%A1%8C%E6%91%A9%E6%A0%B9%E5%A4%A7%E9%80%9A\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5168\u7403\u6700\u5927\u9280\u884c\u6469\u6839\u5927\u901a\uff08JPMorgan Chase\uff09\u662f\u5982\u4f55\u8cfa\u9322\u7684\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/07\/18\/%E5%A4%A7%E5%88%B0%E4%B8%8D%E8%83%BD%E5%80%92%E7%9A%84%E7%BE%8E%E5%9C%8B%E9%8A%80%E8%A1%8C\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u5927\u5230\u4e0d\u80fd\u5012\u7684\u7f8e\u570b\u9280\u884c\uff08Bank of America\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/07\/27\/%E7%9B%B8%E4%BF%A1%E6%88%90%E5%8A%9F%E6%8A%95%E8%B3%87%E4%BA%BA%E6%98%AF%E5%80%96%E5%AD%98%E8%80%85%E5%81%8F%E8%AA%A4%E7%9A%84%E4%BA%BA%E4%B8%8D%E5%8F%AF%E8%83%BD%E6%88%90%E5%8A%9F\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/06\/17\/%E6%9B%BE%E7%B6%93%E5%B7%B4%E8%8F%B2%E7%89%B9%E5%92%8C%E8%92%99%E6%A0%BC%E9%83%BD%E8%AE%9A%E8%AD%BD%E6%9C%89%E4%BD%B3%E7%9A%84%E9%87%8D%E8%A6%81%E6%8C%81%E8%82%A1%E5%AF%8C%E5%9C%8B%E9%8A%80%E8%A1%8C\/\">\u5bcc\u570b\u9280\u884c\u5982\u4f55\u8cfa\u9322\uff1f\u66fe\u7d93\u5df4\u83f2\u7279\u548c\u8499\u683c\u90fd\u8b9a\u8b7d\u6709\u52a0\u7684\u91cd\u8981\u6301\u80a1<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/04\/30\/%E4%BB%80%E9%BA%BC%E5%9B%A0%E7%B4%A0%E9%80%A0%E6%88%90%E8%8A%B1%E6%97%97%E6%94%BE%E6%A3%8413%E5%9C%8B%E7%9A%84%E9%9B%B6%E5%94%AE%E9%8A%80%E8%A1%8C%E6%A5%AD%E5%8B%99\/\">\u4ec0\u9ebc\u56e0\u7d20\u9020\u6210\u82b1\u65d7\uff08Citigroup\uff09\u653e\u68c413\u570b\u7684\u96f6\u552e\u9280\u884c\u696d\u52d9<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2022\/09\/09\/%E8%8A%B1%E6%97%97%E9%9B%86%E5%9C%98\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u8d70\u4e0b\u5761\u4f01\u696d\u7684\u4ee3\u8868\u82b1\u65d7\u96c6\u5718\uff08Citigroup\uff09<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/05\/08\/%e5%a6%82%e4%bd%95%e6%8a%95%e8%b3%87%e7%be%8e%e8%82%a1%e8%a4%87%e5%a7%94%e8%a8%97%e7%b6%b2%e8%b7%af%e5%88%b8%e5%95%86%e5%92%8c%e9%87%91%e8%9e%8d%e7%a7%91%e6%8a%80%e5%95%86\/\">\u5982\u4f55\u6295\u8cc7\u7f8e\u80a1\uff1f\u8907\u59d4\u8a17\uff0c\u7db2\u8def\u5238\u5546\uff0c\u548c\u91d1\u878d\u79d1\u6280\u5546<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2021\/06\/17\/%e6%88%91%e7%82%ba%e4%bd%95%e9%9d%92%e7%9d%9e%e6%88%90%e9%95%b7%e8%82%a1%e8%80%8c%e9%9d%9e%e5%83%b9%e5%80%bc%e8%82%a1%ef%bc%9f\/\">\u6211\u70ba\u4f55\u9752\u775e\u6210\u9577\u80a1\u800c\u975e\u50f9\u503c\u80a1\uff1f<\/a>\u300b<\/li>\n\n\n\n<li>\u300a<a href=\"https:\/\/www.granitefirm.com\/blog\/blog\/2024\/01\/15\/%E6%AE%B5%E6%B0%B8%E5%B9%B3%E7%9A%84%E6%8A%95%E8%B3%87%E5%B8%9D%E5%9C%8B%EF%BC%8C%E4%BB%A5%E5%8F%8A%E4%BB%96%E7%9A%84%E6%AD%A5%E6%AD%A5%E9%AB%98%E9%9B%86%E5%9C%98\/\" target=\"_blank\" rel=\"noreferrer noopener\">\u6bb5\u6c38\u5e73\u7684\u6295\u8cc7\u5e1d\u570b\uff0c\u4ee5\u53ca\u4ed6\u7684\u6b65\u6b65\u9ad8\u96c6\u5718<\/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>\u57fa\u672c\u4e0a\u6c92\u6709\u4eba\u6703\u671f\u671b\u9280\u884c\u80a1\u6703\u5927\u6f32\u3002\u5728\u5927\u90e8\u4efd\u7684\u6642\u9593\u88e1\uff0c\u9280\u884c\u80a1\u7684\u8868\u73fe\u90fd\u6703\u8dd1\u8f38\u5927\u76e4\uff0c\u7406\u7531\u5f88\u7c21\u55ae\uff0c\u9280\u884c\u80a1\u53ea\u6709\u5169\u7a2e\u4eba\u6703\u53bb\u8cb7<\/p>\n","protected":false},"author":1,"featured_media":26634,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[565,495,136,98,32,424,390,101,486],"tags":[392,420,421,114,257,209],"class_list":["post-8921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bank","category-interest-rate","category-taiwan-stock","category-buffett","category-growth-investing","category-duan","category-regulation","category-dividend","category-circle-of-competence","tag-bac","tag-brk-a","tag-brk-b","tag-c","tag-gs","tag-tsm"],"_links":{"self":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/8921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/comments?post=8921"}],"version-history":[{"count":4,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/8921\/revisions"}],"predecessor-version":[{"id":73960,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/posts\/8921\/revisions\/73960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media\/26634"}],"wp:attachment":[{"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/media?parent=8921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/categories?post=8921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.granitefirm.com\/blog\/wp-json\/wp\/v2\/tags?post=8921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}