{"id":3725,"date":"2018-12-07T15:09:02","date_gmt":"2018-12-07T07:09:02","guid":{"rendered":"http:\/\/cn.dailyeconomic.com\/finance\/?p=3725"},"modified":"2018-12-07T15:09:02","modified_gmt":"2018-12-07T07:09:02","slug":"%e4%b8%96%e7%95%8c%e4%b8%bb%e6%9d%83%e5%9f%ba%e9%87%91%e5%92%8c%e5%a4%ae%e8%a1%8c2018%e5%b9%b4%e5%af%b9%e4%b8%ad%e5%9b%bd%e8%82%a1%e7%a5%a8%e5%b8%82%e5%9c%ba%e6%8a%95%e8%b5%84%e5%8a%a0%e5%a4%a7","status":"publish","type":"post","link":"https:\/\/cn.dailyeconomic.com\/finance\/2018\/12\/07\/3725.html","title":{"rendered":"\u4e16\u754c\u4e3b\u6743\u57fa\u91d1\u548c\u592e\u884c2018\u5e74\u5bf9\u4e2d\u56fd\u80a1\u7968\u5e02\u573a\u6295\u8d44\u52a0\u5927"},"content":{"rendered":"

\u6bcf\u65e5\u7ecf\u6d4e<\/a><\/span>[http:\/\/cn.dailyeconomic.com\/]\u62a5\u9053\uff0c\u4e2d\u56fd\u5728\u4e16\u754c\u91d1\u878d\u5e02\u573a\u4e0a\u7684\u5f71\u54cd\u529b\u5728\u589e\u5f3a\u3002\u4eca\u5e74\u4e16\u754c\u4e3b\u6743\u57fa\u91d1\u548c\u5404\u56fd\u592e\u884c\u5411\u4e2d\u56fd\u80a1\u7968\u548c\u503a\u5238\u6295\u5165\u7684\u8d44\u91d1\u6bd4\u4e00\u5e74\u524d\u591a1220\u4ebf\u7f8e\u5143\u3002\u8fd9\u6837\uff0c\u5bf9\u534e\u6295\u8d44\u7bee\u5b50\u7684\u91d1\u989d\u9996\u6b21\u7b49\u540c\u4e8e\u5916\u56fd\u76f4\u63a5\u6295\u8d44\u3002\u4e3a\u4f55\u5916\u56fd\u6295\u8d44\u8005\u949f\u7231\u4ee5\u4eba\u6c11\u5e01\u8ba1\u4ef7\u7684\u80a1\u7968\uff1f<\/p>\n

\u4e2d\u56fd\u5438\u5f15\u5916\u56fd\u8d44\u672c\u5df2\u7ecf\u4e0d\u53ea\u662f\u8fc7\u53bb10\u5e74\u6765\u7684\u4e8b\u60c5\u3002\u7684\u786e\uff0c\u4ece\u524d\u5916\u56fd\u5bf9\u534e\u6295\u8d44\u662f\u4ee5\u76f4\u63a5\u6295\u8d44\u7684\u5f62\u5f0f\u51fa\u73b0\u7684\u3002\u6295\u8d44\u8005\u7684\u903b\u8f91\u662f\u53ef\u4ee5\u7406\u89e3\u7684\uff1a\u4e2d\u56fd\u662f\u4e00\u4e2a\u5de8\u5927\u7684\u5e02\u573a\uff0c\u6709\u7740\u53d1\u8fbe\u7684\u751f\u4ea7\u548c\u9500\u552e\u57fa\u7840\u8bbe\u65bd\uff0c\u8fd9\u610f\u5473\u7740\u5b83\u7684\u589e\u957f\u6f5c\u529b\u6781\u5927\u3002\u8fd9\u5bf9\u4e2d\u56fd\u4e5f\u6709\u5229\u3002\u5728\u5949\u884c”\u6539\u9769\u5f00\u653e”\u653f\u7b56\u7684\u8fc7\u53bb40\u5e74\u6765\uff0c\u5916\u56fd\u76f4\u63a5\u6295\u8d44\u5dee\u4e0d\u591a\u662f\u4e2d\u56fd\u7ecf\u6d4e\u589e\u957f\u7684\u4e3b\u8981\u53d1\u52a8\u673a\u3002\u5728\u6b64\u60c5\u51b5\u4e0b\uff0c\u867d\u7136\u4e2d\u56fd\u80a1\u5e02\u7684\u5b58\u5728\u65f6\u95f4\u5df2\u7ecf\u670920\u6765\u5e74\uff0c\u4f46\u5916\u56fd\u6295\u8d44\u8005\u56e0\u4e2d\u56fd\u653f\u5e9c\u6267\u884c\u4e25\u5389\u7684\u91d1\u878d\u76d1\u7ba1\u548c\u5916\u6c47\u7ba1\u5236\u653f\u7b56\uff0c\u5e76\u4e0d\u6025\u4e8e\u8fdb\u5165\u8be5\u56fd\u80a1\u5e02\u3002\u6b64\u5916\uff0c\u4e2d\u56fd\u80a1\u5e02\u5bf9\u7ecf\u6d4e\u6574\u4f53\u5f62\u52bf\u7684\u53cd\u6620\u8584\u5f31\u3002<\/p>\n

\u4f46\u60c5\u51b5\u8fd1\u6765\u53d1\u751f\u4e86\u53d8\u5316\u3002\u6309\u7167\u622a\u81f39\u6708\u5e95\u7684\u60c5\u51b5\uff0c\u7ba1\u7406\u7740\u5404\u79cd\u8d44\u4ea7\u7684\u5916\u56fd\u4e3b\u6743\u57fa\u91d1\uff0c\u4ee5\u53ca\u5404\u56fd\u7684\u592e\u884c\uff0c\u90fd\u5728\u5feb\u901f\u589e\u6301\u4eba\u6c11\u5e01\u8ba1\u4ef7\u7684\u4e2d\u56fd\u80a1\u7968\u548c\u503a\u5238\uff0c\u603b\u989d\u8fbe\u52304620\u4ebf\u7f8e\u5143\uff0c\u5728\u8fc7\u53bb\u4e00\u5e74\u5185\u589e\u52a0\u4e861225\u4ebf\u7f8e\u5143\u3002\u4e2d\u56fd\u4eba\u6c11\u5927\u5b66\u91cd\u9633\u91d1\u878d\u7814\u7a76\u9662\u7814\u7a76\u5458\u535e\u6c38\u7956\u8bf4\uff0c\u4e2d\u56fd\u5411\u5916\u56fd\u4eba\u5f00\u653e\u4e86\u6295\u8d44\u672c\u56fd\u8d44\u4ea7\u7684\u66f4\u591a\u673a\u4f1a\u3002\u56e0\u6b64\u4e2d\u56fd\u80a1\u5e02\u5438\u5f15\u4e86\u76f8\u5f53\u591a\u7684\u673a\u6784\u6295\u8d44\u8005\u7684\u6ce8\u610f\u529b\u3002<\/p>\n

\u4ed6\u8bf4\uff1a”\u8d44\u672c\u8fdb\u5165\u4e2d\u56fd\u662f\u4e00\u79cd\u5e02\u573a\u9010\u5229\u884c\u4e3a\u3002\u8fd1\u4e9b\u5e74\uff0c\u6b27\u6d32\u3001\u7f8e\u56fd\u548c\u65e5\u672c\u80a1\u5e02\u90fd\u5728\u6210\u500d\u4e0a\u6da8\uff0c\u4f46\u662f\u8fd9\u4e9b\u56fd\u5bb6\u7684\u7ecf\u6d4e\u53d1\u5c55\u6f5c\u529b\u5e76\u6ca1\u6709\u589e\u52a0\u591a\u5c11\u3002\u800c\u4e2d\u56fd\u7684\u8d44\u672c\u5e02\u573a\u8fd1\u4e9b\u5e74\u6765\u4e00\u76f4\u5904\u4e8e\u4f4e\u4f4d\uff0c\u7ecf\u6d4e\u589e\u957f\u5374\u53d1\u5c55\u8f83\u5feb\u3002\u6240\u4ee5\uff0c\u4e2d\u56fd\u5e02\u573a\u5bf9\u5f88\u591a\u6295\u8d44\u8005\u6765\u8bf4\u6070\u6070\u662f\u4e00\u4e2a\u673a\u4f1a\u3002\u5927\u91cf\u8d44\u672c\u6d41\u5165\u540c\u4e2d\u56fd\u7684\u5bf9\u5916\u5f00\u653e\u6709\u5173\u3002\u4ece\u4eca\u5e74\u5f00\u59cb\uff0c\u4e2d\u56fd\u91d1\u878d\u4e1a\u5bf9\u5916\u5f00\u653e\u529b\u5ea6\u975e\u5e38\u5927\uff0c\u94f6\u884c\u3001\u8bc1\u5238\u3001\u4fdd\u9669\u4e1a\u53d6\u6d88\u4e86\u5f88\u591a\u5bf9\u5916\u8d44\u7684\u9650\u5236\uff0c\u8fd9\u4e5f\u662f\u5916\u56fd\u6295\u8d44\u8005\u957f\u671f\u4ee5\u6765\u6240\u76fc\u671b\u7684\u3002”<\/p>\n

\u4e2d\u56fd\u89c4\u5b9a\u5c06\u8bc1\u5238\u516c\u53f8\u3001\u57fa\u91d1\u7ba1\u7406\u516c\u53f8\u3001\u671f\u8d27\u516c\u53f8\u3001\u4eba\u8eab\u9669\u516c\u53f8\u7684\u5916\u8d44\u6301\u80a1\u6bd4\u4f8b\u4e0a\u9650\u653e\u5bbd\u81f351%\uff0c\u4e09\u5e74\u540e\u4e0d\u518d\u8bbe\u9650\uff1b\u53d6\u6d88\u94f6\u884c\u548c\u91d1\u878d\u8d44\u4ea7\u7ba1\u7406\u516c\u53f8\u7684\u5916\u8d44\u6301\u80a1\u6bd4\u4f8b\u9650\u5236\uff0c\u5185\u5916\u8d44\u4e00\u89c6\u540c\u4ec1\u3002\u6b64\u5916\uff0c\u9884\u8ba1\u5916\u8d44\u5728\u4eba\u8eab\u9669\u516c\u53f8\u4e2d\u7684\u6301\u80a1\u6bd4\u4f8b\u4e0a\u9650\u5c06\u653e\u5bbd\u81f351%,\u4e94\u5e74\u540e\u4fdd\u9669\u4e1a\u7684\u4efb\u4f55\u6295\u8d44\u6301\u80a1\u6bd4\u4f8b\u9650\u5236\u5c06\u5b8c\u5168\u53d6\u6d88\u3002<\/p>\n

\u53bb\u5e7410\u6708\u5e95\uff0c\u60e0\u8a89\u56fd\u9645\u8bc4\u7ea7(Fitch Ratings)\u5ba3\u5e03\u542f\u52a8\u60e0\u8a89\u535a\u534e\u4fe1\u7528\u8bc4\u7ea7\u6709\u9650\u516c\u53f8(Fitch (China) Bohua Credit Ratings Ltd., \u7b80\u79f0\u2236\u60e0\u8a89\u535a\u534e)\uff0c\u4ee5\u670d\u52a1\u4e2d\u56fd\u5883\u5185\u503a\u5238\u5e02\u573a\u3002\u8fd9\u540c\u6837\u5438\u5f15\u4e86\u66f4\u591a\u7684\u5916\u56fd\u6295\u8d44\u8005\u8fdb\u5165\u4e2d\u56fd\u503a\u5238\u5e02\u573a\uff0c\u56e0\u4e3a\u4ed6\u4eec\u80fd\u591f\u66f4\u786e\u5207\u5730\u8bc4\u4f30\u81ea\u5df1\u9762\u4e34\u7684\u98ce\u9669\u3002<\/p>\n

\u5728\u6b64\u60c5\u51b5\u4e0b\uff0c\u98ce\u9669\u8bc4\u4f30\u8d8a\u6765\u8d8a\u900f\u660e\uff0c\u4e2d\u56fd\u80a1\u7968\u548c\u503a\u5238\u7684\u6536\u76ca\u7387\u4ecd\u7136\u5177\u6709\u5438\u5f15\u529b\u3002\u636e\u300a\u91d1\u878d\u65f6\u62a5\u300b\uff08FT\uff09\u6307\u51fa\uff0c\u5fb7\u56fd10\u5e74\u671f\u56fd\u503a\u4eca\u5e7411\u6708\u7684\u6536\u76ca\u7387\u4e3a0.37%\uff0c\u800c\u4e2d\u56fd10\u5e74\u671f\u56fd\u503a\u7684\u76c8\u5229\u7387\u4e3a3.5%\u3002\u4f46\u95ee\u9898\u4e0d\u4ec5\u5728\u4e8e\u6536\u76ca\u7387\u3002\u4e2d\u56fd\u4eba\u6c11\u5e01\u52a0\u5165\u4e86\u7279\u522b\u63d0\u6b3e\u6743\u7bee\u5b50\uff08SDR\uff09\u3002\u5404\u56fd\u592e\u884c\u6309\u7279\u522b\u63d0\u6b3e\u6743\u7bee\u5b50\u4e2d\u7684\u6743\u91cd\u589e\u52a0\u4eba\u6c11\u5e01\u50a8\u5907\u3002\u73b0\u5728\u4eba\u6c11\u5e01\u5728SDR\u65b0\u8d27\u5e01\u7bee\u5b50\u4e2d\u7684\u6743\u91cd\u4e3a10.92%\u3002\u56e0\u6b64\uff0c\u653e\u5f03\u7f8e\u5143\u589e\u6301\u4eba\u6c11\u5e01\u7684\u8fc7\u7a0b\u4ecd\u5728\u7ee7\u7eed\u8fdb\u884c\u4e4b\u4e2d\u3002\u4e2d\u56fd\u4eba\u6c11\u5927\u5b66\u91cd\u9633\u91d1\u878d\u7814\u7a76\u9662\u7814\u7a76\u5458\u535e\u6c38\u7956\u8bf4\uff0c \u8fd9\u9996\u5148\u5bf9\u4e2d\u56fd\u6709\u5229\uff0c\u4f46\u4e5f\u5bf9\u4e2d\u56fd\u63d0\u51fa\u4e86\u67d0\u4e9b\u6311\u6218\u3002<\/p>\n

\u4ed6\u8bf4\uff1a”\u5982\u679c\u6709\u66f4\u591a\u56fd\u5bb6\u7684\u592e\u884c\u589e\u6301\u4eba\u6c11\u5e01\u50a8\u5907\uff0c\u4e5f\u4f1a\u4f7f\u5f97\u4e16\u754c\u5bf9\u4eba\u6c11\u5e01\u7684\u9700\u6c42\u63d0\u9ad8\uff0c\u4f7f\u4eba\u6c11\u5e01\u7684\u5e01\u503c\u4fdd\u6301\u8f83\u575a\u633a\u72b6\u6001\uff0c\u589e\u5f3a\u4e16\u754c\u5bf9\u4eba\u6c11\u5e01\u7684\u4fe1\u5fc3\u3002\u4e2d\u56fd\u7684\u4f01\u4e1a\u5728\u548c\u5176\u4ed6\u56fd\u5bb6\u8fdb\u884c\u5546\u4e1a<\/a><\/span>\u5f80\u6765\u8fc7\u7a0b\u4e2d\u53ef\u4ee5\u66f4\u52a0\u65b9\u4fbf\u5730\u4f7f\u7528\u4eba\u6c11\u5e01\u8fdb\u884c\u7ed3\u7b97\uff0c\u800c\u4e0d\u7528\u4f7f\u7528\u5176\u4ed6\u56fd\u5bb6\u7684\u8d27\u5e01\uff0c\u8fd9\u6837\u65e0\u7591\u4f1a\u964d\u4f4e\u98ce\u9669\u548c\u6210\u672c\u3002\u5f53\u7136\uff0c\u53e6\u4e00\u65b9\u9762\uff0c\u4e5f\u4f1a\u7ed9\u4e2d\u56fd\u5e26\u6765\u4e00\u4e9b\u6311\u6218\u3002\u4eba\u6c11\u5e01\u6bd5\u7adf\u5728\u56fd\u9645\u4e0a\u7684\u4f7f\u7528\u65f6\u95f4\u8f83\u77ed\uff0c\u5f88\u591a\u914d\u5957\u7684\u57fa\u7840\u8bbe\u65bd\u5e76\u4e0d\u5b8c\u5584\uff0c\u5c24\u5176\u662f\u4eba\u6c11\u5e01\u6e05\u7b97\u7cfb\u7edf\u3001\u5883\u5916\u4eba\u6c11\u5e01\u91d1\u878d\u673a\u6784\u7f51\u70b9\u5e76\u4e0d\u662f\u5f88\u591a\uff0c\u4eba\u6c11\u5e01\u76d1\u7ba1\u95ee\u9898\u4e5f\u662f\u5fc5\u987b\u8981\u8003\u8651\u7684\uff0c\u8981\u9632\u6b62\u6d17\u94b1\u884c\u4e3a\u3002\u4eba\u6c11\u5e01\u5728\u4e16\u754c\u8303\u56f4\u5185\u7684\u6d41\u901a\u5bf9\u4e2d\u56fd\u56fd\u5185\u7684\u653f\u7b56\u4e5f\u4f1a\u9020\u6210\u4e00\u4e9b\u5f71\u54cd\u3002\u66f4\u591a\u7684\u4eba\u6c11\u5e01\u6d41\u51fa\u5883\u5916\uff0c\u5404\u65b9\u9762\u7684\u914d\u5957\u653f\u7b56\u90fd\u8981\u8003\u8651\uff0c\u4e0d\u53ea\u662f\u8981\u8003\u8651\u4e2d\u56fd\u5883\u5185\u7684\u60c5\u51b5\uff0c\u8fd8\u8981\u8003\u8651\u5883\u5916\u7684\u60c5\u51b5\uff0c\u4f46\u662f\u6211\u4eec\u5728\u8fd9\u65b9\u9762\u7ecf\u9a8c\u8fd8\u4e0d\u8db3\uff0c\u76f8\u5173\u7684\u6cd5\u5f8b\u6cd5\u89c4\u8fd8\u4e0d\u662f\u5f88\u5065\u5168\u3002”<\/p>\n

\u4e5f\u8bb8\uff0c\u4eba\u6c11\u5e01\u91d1\u878d\u5de5\u5177\u4ecd\u5c06\u6269\u5927\u5728\u4e16\u754c\u5e02\u573a\u4e0a\u7684\u5b58\u5728\u3002\u5f6d\u535a\u5df4\u514b\u83b1\u5168\u7403\u7efc\u5408\u6307\u6570\uff08Bloomberg Barclays Global Aggregate\uff0cBBGA\uff09\u5c06\u4ece\u4e0b\u5e744\u6708\u8d77\u5c06\u628a\u4eba\u6c11\u5e01\u8ba1\u4ef7\u56fd\u503a\u7eb3\u5165\u6307\u6570\u3002\u6469\u6839\u5168\u7403\u591a\u5143\u65b0\u5174\u5e02\u573a\u503a\u5238\u57fa\u91d1\u6307\u6570\uff08JP Morgan Emerging Market Bond Index\uff09\u4e5f\u5c06\u91c7\u53d6\u540c\u6837\u52a8\u4f5c\u3002\u4e2d\u56fd235\u79cdA\u80a1\u80a1\u7968\u5df2\u7ecf\u7eb3\u5165\u6700\u91cd\u8981\u7684\u6307\u6807–\u660e\u665f\u65b0\u5174\u5e02\u573a\u6307\u6570\uff08MSCI Emerging Markets index\uff09\u4e2d\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u6bcf\u65e5\u7ecf\u6d4e[http:\/\/cn.dailyeconomic.com\/]\u62a5 […]<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":3726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3725","post","type-post","status-publish","format-standard","has-post-thumbnail","category-industry"],"_links":{"self":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts\/3725","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/comments?post=3725"}],"version-history":[{"count":1,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts\/3725\/revisions"}],"predecessor-version":[{"id":3727,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/posts\/3725\/revisions\/3727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/media\/3726"}],"wp:attachment":[{"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/media?parent=3725"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/categories?post=3725"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/finance\/wp-json\/wp\/v2\/tags?post=3725"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}