{"id":10114,"date":"2025-06-20T16:19:41","date_gmt":"2025-06-20T08:19:41","guid":{"rendered":"https:\/\/cn.dailyeconomic.com\/sh\/?p=10114"},"modified":"2025-06-20T16:19:41","modified_gmt":"2025-06-20T08:19:41","slug":"%e6%b2%aa%e6%b8%af%e5%86%8d%e6%ac%a1%e6%90%ba%e6%89%8b-%e7%9d%80%e7%9c%bc%e6%9b%b4%e5%a4%a7%e6%a3%8b%e5%b1%80","status":"publish","type":"post","link":"https:\/\/cn.dailyeconomic.com\/sh\/2025\/06\/20\/10114.html","title":{"rendered":"\u6caa\u6e2f\u518d\u6b21\u643a\u624b \u7740\u773c\u66f4\u5927\u68cb\u5c40"},"content":{"rendered":"<p>\u636e\u4e0a\u6d77\u5e02\u653f\u5e9c\u7f51\u7ad9\u6d88\u606f\uff0c\u6628\u5929\uff0c\u4e3a\u671f\u4e24\u5929\u76842025\u9646\u5bb6\u5634\u8bba\u575b\u95ed\u5e55\u3002<\/p>\n<p>\u6709\u522b\u4e8e\u4ee5\u5f80\uff0c\u5728\u4eca\u5e74\u7684\u8bba\u575b\u5f00\u5e55\u524d\uff0c\u4e00\u573a\u53d1\u5e03\u4f1a\u5728\u4f1a\u573a\u5148\u884c\u4e3e\u884c\u3002\u4e0a\u6d77\u548c\u9999\u6e2f\uff0c\u7b7e\u7f72\u4e86\u300a\u6caa\u6e2f\u56fd\u9645\u91d1\u878d\u4e2d\u5fc3\u534f\u540c\u53d1\u5c55\u884c\u52a8\u65b9\u6848\u300b\u3002\u8fd9\u4e24\u5ea7\u57ce\u5e02\uff0c\u6070\u6070\u662f\u4e2d\u592e\u91d1\u878d\u5de5\u4f5c\u4f1a\u8bae\u4e0a\u660e\u786e\u7684\u6211\u56fd\u4e24\u5927\u56fd\u9645\u91d1\u878d\u4e2d\u5fc3\u3002<\/p>\n<p>\u4e0a\u6d77\u80cc\u9760\u957f\u4e09\u89d2\u548c\u6574\u4e2a\u4e2d\u56fd\u7ecf\u6d4e\uff0c\u6709\u5b8c\u5907\u7684\u91d1\u878d\u57fa\u7840\u8bbe\u65bd\uff0c\u5168\u9762\u7684\u91d1\u878d\u4ea7\u54c1\uff0c\u4ee5\u53ca\u4f17\u591a\u5168\u7403\u91d1\u878d\u673a\u6784\uff0c\u5e02\u573a\u89c4\u6a21\u5e9e\u5927\uff0c\u662f\u6211\u56fd\u5f53\u4e4b\u65e0\u6127\u7684\u5728\u5cb8\u91d1\u878d\u5e02\u573a\u95e8\u6237\u3002<\/p>\n<p>\u9999\u6e2f\u4ee5\u5176\u72ec\u7279\u7684\u5730\u4f4d\u548c\u529f\u80fd\uff0c\u6210\u4e3a\u8fde\u63a5\u5185\u5730\u91d1\u878d\u5e02\u573a\u4e0e\u56fd\u9645\u91d1\u878d\u5e02\u573a\u7684\u7ebd\u5e26\uff0c\u4e5f\u662f\u91cd\u8981\u7684\u79bb\u5cb8\u4eba\u6c11\u5e01\u5e02\u573a\u3002<\/p>\n<p>\u8fd9\u4e24\u4e2a\u56fd\u9645\u91d1\u878d\u4e2d\u5fc3\uff0c\u6709\u76f8\u4f3c\u7684\u5730\u65b9\uff0c\u4e5f\u6709\u4e0d\u540c\u7684\u4f18\u52bf\uff0c\u5728\u5f53\u524d\u5927\u52bf\u4e4b\u4e0b\uff0c\u66f4\u591a\u662f\u643a\u624b\u524d\u884c\u3002<\/p>\n<p>\u5b9e\u9645\u4e0a\uff0c\u5728\u8fc7\u5f80\u7684\u5386\u53f2\u4e2d\uff0c\u6caa\u6e2f\u4e24\u5730\u5728\u91d1\u878d\u9886\u57df\u5df2\u7ecf\u5f62\u6210\u4e86\u5e38\u6001\u5316\u7684\u826f\u6027\u5408\u4f5c\u3002\u6caa\u6e2f\u901a\u3001\u503a\u5238\u901a\u3001\u4e92\u6362\u901a\u548cETF\u901a\uff0c\u8ba9\u80a1\u7968\u3001\u503a\u5238\u3001\u5229\u7387\u884d\u751f\u54c1\u7b49\u4ea7\u54c1\u53ef\u4ee5\u9ad8\u6548\u6d41\u901a\u3002<\/p>\n<p>\u53cc\u65b9\u6b64\u756a\u518d\u6b21\u9ad8\u8c03\u643a\u624b\uff0c\u6709\u4f55\u6df1\u610f\uff1f<\/p>\n<p>\u9700\u8981\u660e\u786e\u7684\u4e00\u70b9\u662f\uff0c\u6caa\u6e2f\u91d1\u878d\u5408\u4f5c\uff0c\u4e00\u76f4\u662f\u53cc\u8d62\u3002<\/p>\n<p>\u57282025\u9646\u5bb6\u5634\u8bba\u575b\u5609\u5bbe\u7684\u53e3\u4e2d\uff0c\u5e76\u4e0d\u7f3a\u4e4f\u8fd9\u6837\u7684\u6848\u4f8b\u3002<\/p>\n<p>\u4e2d\u56fd\u8bc1\u76d1\u4f1a\u539f\u526f\u4e3b\u5e2d\u3001\u4e2d\u56fd\u91d1\u878d\u5b66\u4f1a\u526f\u4f1a\u957f\u65b9\u661f\u6d77\u5c31\u5728\u8bba\u575b\u4e0a\u804a\u8d77\u4e86\u5f80\u4e8b\u2014\u2014\u5982\u679c\u6ca1\u6709\u6caa\u6e2f\u901a\u3001\u6df1\u6e2f\u901a\u7684\u63a8\u51fa\uff0cA\u80a1\u5c31\u52a0\u5165\u4e0d\u4e86MSCI\u6307\u6570\uff0c\u90a3\u4e48\u5916\u8d44\u6301\u6709A\u80a1\u6d41\u901a\u5e02\u503c\u5c31\u4e0d\u53ef\u80fd\u8fbe\u5230\u73b0\u5728\u76843\u4e07\u4ebf\u5143\u3002<\/p>\n<p>\u201c\u56e0\u4e3a\u52a0\u5165\u6307\u6570\u6709\u4e00\u4e2a\u8981\u6c42\uff0c\u5883\u5916\u6295\u8d44\u8005\u5728\u5883\u5185\u6295\u8d44\u8981\u975e\u5e38\u987a\u7545\uff0c\u8fdb\u53bb\u3001\u51fa\u6765\u3001\u6295\u591a\u5c11\u3001\u5356\u591a\u5c11\uff0c\u90fd\u8981\u975e\u5e38\u987a\u7545\u3002\u201d\u65b9\u661f\u6d77\u89e3\u91ca\u3002<\/p>\n<p>2002\u5e74\u6211\u56fd\u63a8\u51fa\u7684QFII\uff08\u5408\u683c\u5883\u5916\u673a\u6784\u6295\u8d44\u8005\uff09\u5236\u5ea6\u8bd5\u70b9\uff0c\u5e76\u6ca1\u6709\u6ee1\u8db3MSCI\u3002\u76f4\u52302014\u5e744\u6708\uff0c\u4e2d\u56fd\u8bc1\u76d1\u4f1a\u6b63\u5f0f\u6279\u590d\u4e0a\u6d77\u8bc1\u5238\u4ea4\u6613\u6240\u548c\u9999\u6e2f\u8054\u5408\u4ea4\u6613\u6240\u5f00\u5c55\u6caa\u6e2f\u80a1\u7968\u4ea4\u6613\u4e92\u8054\u4e92\u901a\u673a\u5236\u8bd5\u70b9\u3002\u8fd9\u4e00\u6b64\u540e\u88ab\u79f0\u4e3a\u201c\u6caa\u6e2f\u901a\u201d\u7684\u673a\u5236\uff0c\u7ec8\u4e8e\u6253\u52a8\u4e86MSCI\u3002<\/p>\n<p>\u9999\u6e2f\u8d22\u7ecf\u4e8b\u52a1\u53ca\u5e93\u52a1\u5c40\u5c40\u957f\u8bb8\u6b63\u5b87\u5219\u5728\u8bba\u575b\u73b0\u573a\u4e3e\u4e86\u4e2a\u6700\u8fd1\u7684\u4f8b\u5b50\u2014\u2014\u8fd1\u671f\u6e2f\u5e9c\u53d1\u884c20\u5e74\u671f\u300130\u5e74\u671f\u7684\u4eba\u6c11\u5e01\u503a\u5238\uff0c\u5176\u4e2d\u76f8\u5f53\u4e00\u90e8\u5206\u503a\u5238\u4e70\u5bb6\uff0c\u662f\u5357\u5411\u901a\u7684\u673a\u6784\u6295\u8d44\u8005\u3002\u5728\u8fd9\u6837\u7684\u80cc\u666f\u4e0b\uff0c\u503a\u5238\u603b\u9700\u6c42\u89c4\u6a21\u5bf9\u6bd4\u4e00\u5f00\u59cb\u552e\u5356\u89c4\u6a21\uff0c\u589e\u52a0\u4e863\u52304\u500d\u3002<\/p>\n<p>\u201c\u4e24\u5730\u66f4\u7d27\u5bc6\u7684\u5408\u4f5c\uff0c\u5c24\u5176\u662f\u5728\u8d44\u672c\u5e02\u573a\u7684\u5408\u4f5c\uff0c\u8ba9\u4e24\u5730\u6295\u8d44\u8005\u80fd\u591f\u5e26\u6765\u65b0\u7684\u6807\u7684\uff0c\u4e5f\u80fd\u591f\u8ba9\u4e24\u5730\u6295\u8d44\u8005\u6709\u66f4\u5927\u3001\u66f4\u5f3a\u7684\u6d41\u52a8\u6027\u3002\u201d\u8bb8\u6b63\u5b87\u8bf4\u3002<\/p>\n<p>\u4e0d\u8fc7\uff0c\u5728\u6d41\u52a8\u6027\u4e92\u76f8\u652f\u6301\u548c\u57fa\u7840\u8bbe\u65bd\u4e92\u8054\u4e92\u901a\u4e4b\u5916\uff0c\u6caa\u6e2f\u7740\u773c\u7684\uff0c\u662f\u66f4\u5927\u7684\u68cb\u5c40\u3002<\/p>\n<p>\u57282025\u9646\u5bb6\u5634\u8bba\u575b\u4e0a\uff0c\u5173\u4e8e\u6caa\u6e2f\u5408\u4f5c\u7684\u8ba8\u8bba\uff0c\u4e0d\u7edd\u4e8e\u8033\u3002<\/p>\n<p>\u8fd9\u6070\u6070\u4e5f\u7b26\u5408\u672c\u5c4a\u8bba\u575b\u7684\u4e3b\u9898\u2014\u2014\u201c\u5168\u7403\u7ecf\u6d4e\u53d8\u5c40\u4e2d\u7684\u91d1\u878d\u5f00\u653e\u5408\u4f5c\u4e0e\u9ad8\u8d28\u91cf\u53d1\u5c55\u201d\u3002<\/p>\n<p>\u56e0\u4e3a\u5728\u5168\u7403\u7ecf\u6d4e\u53d8\u5c40\u4e2d\uff0c\u6caa\u6e2f\u4e24\u5730\u53ea\u6709\u91d1\u878d\u5f00\u653e\u5408\u4f5c\uff0c\u624d\u80fd\u4fc3\u6210\u4e24\u4e2a\u4e2d\u5fc3\u7684\u9ad8\u8d28\u91cf\u53d1\u5c55\u3002<\/p>\n<p>\u5bf9\u4e0a\u6d77\u800c\u8a00\uff0c\u60f3\u8981\u6210\u4e3a\u66f4\u4e3a\u5f3a\u5927\u7684\u56fd\u9645\u91d1\u878d\u4e2d\u5fc3\uff0c\u9700\u8981\u8d4b\u80fd\u4f01\u4e1a\u201c\u8d70\u51fa\u53bb\u201d\uff0c\u8fd9\u5c31\u9700\u8981\u4e00\u4e2a\u5b8c\u5584\u7684\u79bb\u5cb8\u91d1\u878d\u4f53\u7cfb\uff0c\u9999\u6e2f\u7684\u7ecf\u9a8c\u3001\u6807\u51c6\u548c\u529f\u80fd\uff0c\u53ef\u4ee5\u52a0\u901f\u8fd9\u4e00\u9886\u57df\u7684\u53d1\u5c55\u3002<\/p>\n<p>\u5bf9\u9999\u6e2f\u6765\u8bf4\uff0c\u60f3\u8981\u7ecf\u6d4e\u6709\u66f4\u5927\u53d1\u5c55\uff0c\u5fc5\u987b\u80cc\u9760\u4e2d\u56fd\u5185\u5730\u7684\u5f3a\u5927\u7ecf\u6d4e\u4f53\u91cf\uff0c\u540c\u65f6\u4e0a\u6d77\u79d1\u521b\u4e2d\u5fc3\u9ad8\u901f\u53d1\u5c55\u7684\u79d1\u6280\u521b\u65b0\uff0c\u4e5f\u80fd\u4e3a\u5176\u5e26\u6765\u4e30\u5bcc\u4e14\u786e\u5b9a\u7684\u5168\u7403\u5e02\u573a\u673a\u9047\u3002<\/p>\n<p>\u5f53\u7136\uff0c\u53cc\u65b9\u7684\u643a\u624b\uff0c\u5bf9\u4e8e\u4eba\u6c11\u5e01\u56fd\u9645\u5316\u66f4\u662f\u5927\u6709\u88e8\u76ca\uff0c\u6709\u52a9\u4e8e\u5f62\u6210\u66f4\u4e3a\u5408\u7406\u3001\u900f\u660e\u7684\u4eba\u6c11\u5e01\u6c47\u7387\u5f62\u6210\u673a\u5236\u3002<\/p>\n<p>\u53cc\u57ce\u534f\u540c\u7684\u672a\u6765\uff0c\u5df2\u7ecf\u88ab\u6765\u53c2\u52a0\u9646\u5bb6\u5634\u8bba\u575b\u7684\u91d1\u878d\u5927\u5496\u770b\u5728\u773c\u91cc\u3002<\/p>\n<p>\u201c\u4e0a\u6d77\u548c\u9999\u6e2f\u662f\u6211\u4eec\u56fd\u5bb6\u91d1\u878d\u4e1a\u7684\u2018\u53cc\u5f15\u64ce\u2019\u3002\u201d\u6e23\u6253\u94f6\u884c\uff08\u9999\u6e2f\uff09\u6709\u9650\u516c\u53f8\u6267\u884c\u8463\u4e8b\u3001\u9999\u6e2f\u517c\u5927\u4e2d\u534e\u53ca\u5317\u4e9a\u533a\u884c\u653f\u603b\u88c1\u79a4\u60e0\u4eea\u8bf4\uff0c\u8fd9\u4e24\u5927\u56fd\u9645\u91d1\u878d\u4e2d\u5fc3\u5728\u56fd\u5bb6\u91d1\u878d\u53d1\u5c55\u5927\u5c40\u4e2d\uff0c\u5177\u6709\u91cd\u8981\u7684\u5730\u4f4d\u548c\u534f\u540c\u53d1\u5c55\u7684\u6f5c\u529b\u3002\u901a\u8fc7\u5bf9\u63a5\u5185\u5730\u548c\u5883\u5916\u7684\u8d44\u91d1\u548c\u8d44\u6e90\uff0c\u4e0a\u6d77\u548c\u9999\u6e2f\u53ef\u4ee5\u4e3a\u4e0d\u540c\u9636\u6bb5\u7684\u79d1\u521b\u4f01\u4e1a\u63d0\u4f9b\u66f4\u591a\u878d\u8d44\u673a\u4f1a\uff0c\u652f\u6301\u548c\u57f9\u80b2\u65b0\u8d28\u751f\u4ea7\u529b\u4f01\u4e1a\uff0c\u5e2e\u52a9\u56fd\u5bb6\u5b9e\u73b0\u9ad8\u8d28\u91cf\u7ecf\u6d4e\u53d1\u5c55\u3002<\/p>\n<p>\u53cb\u90a6\u4fdd\u9669\u96c6\u56e2\u9996\u5e2d\u6267\u884c\u5b98\u517c\u603b\u88c1\u674e\u6e90\u7965\u8bc4\u4ef7\uff0c\u4e0a\u6d77\u662f\u4e2d\u56fd\u5145\u6ee1\u6d3b\u529b\u7684\u91d1\u878d\u4e2d\u5fc3\uff0c\u4e5f\u662f\u4e00\u4e2a\u521b\u65b0\u4e2d\u5fc3\uff0c\u62e5\u6709\u660e\u786e\u7684\u7ecf\u6d4e\u548c\u91d1\u878d\u653f\u7b56\u613f\u666f\u3002\u800c\u9999\u6e2f\u5219\u662f\u4e00\u4e2a\u5145\u6ee1\u6d3b\u529b\u7684\u5168\u7403\u8fde\u63a5\u5668\uff0c\u8d44\u672c\u53ef\u4ee5\u5728\u8fd9\u91cc\u4e0e\u4f1f\u5927\u7684\u673a\u4f1a\u76f8\u9047\uff0c\u5c06\u6700\u4f18\u79c0\u7684\u4e2d\u56fd\u4f01\u4e1a\u5f15\u9886\u5230\u56fd\u9645\u5e02\u573a\u3002<\/p>\n<p>\u518d\u56de\u5230\u6caa\u6e2f\u7b7e\u7f72\u7684\u884c\u52a8\u65b9\u6848\uff0c\u4e0d\u96be\u770b\u51fa\uff0c\u4e0a\u6d77\u548c\u9999\u6e2f\u5c06\u5728\u79bb\u5cb8\u91d1\u878d\u7684\u6218\u7565\u4e92\u8865\u3001\u670d\u52a1\u4f01\u4e1a\u201c\u8d70\u51fa\u53bb\u201d\u3001\u6807\u51c6\u5bf9\u63a5\u548c\u91d1\u878d\u521b\u65b0\u65b9\u9762\uff0c\u5c55\u5f00\u66f4\u6df1\u66f4\u5e7f\u7684\u5408\u4f5c\u3002<\/p>\n<p>\u8fd9\u4e9b\u5408\u4f5c\u60f3\u8981\u8fbe\u6210\u7684\u76ee\u6807\uff0c\u53c8\u53ef\u4ee5\u6982\u62ec\u4e3a\u56db\u4e2a\u5b57\u2014\u2014\u91d1\u878d\u5f3a\u56fd\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>\u636e\u4e0a\u6d77\u5e02\u653f\u5e9c\u7f51\u7ad9\u6d88\u606f\uff0c\u6628\u5929\uff0c\u4e3a\u671f\u4e24\u5929\u76842025\u9646\u5bb6\u5634\u8bba\u575b\u95ed\u5e55\u3002 \u6709\u522b\u4e8e\u4ee5\u5f80\uff0c\u5728\u4eca\u5e74\u7684\u8bba\u575b\u5f00\u5e55\u524d\uff0c\u4e00\u573a\u53d1\u5e03\u4f1a\u5728\u4f1a\u573a\u5148\u884c\u4e3e\u884c\u3002\u4e0a\u6d77\u548c\u9999\u6e2f\uff0c\u7b7e\u7f72\u4e86\u300a\u6caa\u6e2f\u56fd\u9645\u91d1\u878d\u4e2d\u5fc3\u534f\u540c\u53d1\u5c55\u884c\u52a8\u65b9\u6848\u300b\u3002\u8fd9 <a class=\"mh-excerpt-more\" href=\"https:\/\/cn.dailyeconomic.com\/sh\/2025\/06\/20\/10114.html\" title=\"\u6caa\u6e2f\u518d\u6b21\u643a\u624b \u7740\u773c\u66f4\u5927\u68cb\u5c40\">[&#8230;]<\/a><\/p>\n<\/div>","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-10114","post","type-post","status-publish","format-standard","category-market"],"_links":{"self":[{"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/posts\/10114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/comments?post=10114"}],"version-history":[{"count":1,"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/posts\/10114\/revisions"}],"predecessor-version":[{"id":10115,"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/posts\/10114\/revisions\/10115"}],"wp:attachment":[{"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/media?parent=10114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/categories?post=10114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cn.dailyeconomic.com\/sh\/wp-json\/wp\/v2\/tags?post=10114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}