锟斤拷锟斤拷摘要锟斤拷22锟斤拷前锟斤拷全锟斤拷蔀模锟斤拷约~锟絪锟斤拷锟叫憋拷锟斤拷锟斤拷锟絖锟斤拷锟斤拷锟斤拷迅锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷要锟斤拷锟揭癸拷锟叫憋拷锟絇锟斤拷22锟斤拷前锟斤拷锟斤拷锟斤拷一锟斤拷锟斤拷锟缴嗭拷锟秸憋拷锟斤拷22.6%锟斤拷锟斤拷锟截癸拷锟斤拷2锟秸冿拷锟斤拷锟絣(f锟斤拷)1/5锟斤拷值锟斤拷锟斤拷锟铰猴拷锟揭曪拷蠞M锟角斤拷锟阶員锟街慌碉拷锟斤拷片锟斤拷

锟斤拷锟斤拷全锟斤拷锟斤拷薪锟斤拷诔锟斤拷m(x锟斤拷)锟较漲锟斤拷锟斤拷锟斤拷膮R锟斤拷撰锟斤拷指锟斤拷锟斤拷锟斤拷锟斤拷锟叫堬拷锟侥忥拷锟脚漲锟斤拷锟絚1987锟斤拷全锟斤拷锟斤拷械锟�“锟斤拷色锟斤拷锟斤拷一”锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷蔀目謱锟斤拷佻F(xi锟斤拷n)锟斤拷

锟斤拷锟斤拷锟斤拷锟铰烇拷锟斤拷锟斤拷锟斤拷要锟斤拷锟捷ｏ拷

锟斤拷锟斤拷全锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷俣锟斤拷|锟斤拷12锟斤拷锟斤拷锟铰革拷锟斤拷3锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷75%锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷元锟斤拷锟斤拷14锟斤拷锟斤拷锟铰碉拷锟斤拷锟叫堬拷锟絥锟絔锟斤拷锟斤拷锟絈锟阶猴拷锟紸锟斤拷锟絧锟斤拷锟街诧拷锟斤拷锟斤拷脹锟斤拷锟斤拷锟斤拷锟絁锟介，锟紷锟絚22锟斤拷前“锟斤拷色锟斤拷锟斤拷一”全锟斤拷蔀谋锟斤拷l(f锟斤拷)前夕锟斤拷锟斤拷锟斤拷锟斤拷同锟斤拷

锟斤拷锟斤拷22锟斤拷前锟斤拷全锟斤拷蔀模锟斤拷约~锟絪锟斤拷锟叫憋拷锟斤拷锟斤拷锟絖锟斤拷锟斤拷锟斤拷迅锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷要锟斤拷锟揭癸拷锟叫憋拷锟絇锟斤拷22锟斤拷前锟斤拷锟斤拷锟斤拷一锟斤拷锟斤拷锟缴嗭拷锟秸憋拷锟斤拷22.6%锟斤拷锟斤拷锟截癸拷锟斤拷2锟秸冿拷锟斤拷锟絣(f锟斤拷)1/5锟斤拷值锟斤拷锟斤拷锟铰猴拷锟揭曪拷蠞M锟角斤拷锟阶員锟街慌碉拷锟斤拷片锟斤拷

锟斤拷锟斤拷1987锟斤拷10锟斤拷19锟斤拷锟斤拷锟斤拷锟斤拷锟絶锟絪锟斤拷锟斤拷一锟絖锟絇锟斤拷锟斤拷指顫動猴拷突然锟铰碉拷锟斤拷锟紷锟斤拷失锟斤拷\锟街紐锟絪锟斤拷锟斤拷锟斤拷投锟結锟竭硷拷锟斤拷锟斤拷锟桔癸拷票锟斤拷锟斤拷锟饺碉拷锟斤拷計锟絩锟斤拷锟斤拷锟斤拷指锟斤拷锟叫憋拷锟斤拷508.32锟絚锟斤拷锟斤拷锟斤拷锟絖22.62%锟斤拷锟斤拷锟絕1929锟斤拷10锟斤拷29锟秸的憋拷锟斤拷锟給锟�锟斤拷锟斤拷锟斤拷锟街革拷锟�(sh锟斤拷)锟斤拷锟斤拷锟截涳拷牛锟斤拷@一锟斤拷锟斤拷值锟斤拷锟絣(f锟斤拷)5000锟絴锟斤拷元锟斤拷锟阶猴拷锟洁當锟节�锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷a(ch锟斤拷n)锟斤拷值1/8锟斤拷

锟斤拷锟斤拷锟斤拷锟缴憋拷锟斤拷锟斤拷迅锟斤拷锟斤拷锟斤拷全锟斤拷锟斤拷锟斤拷锟截革拷锟絩指锟斤拷(sh锟斤拷)锟斤拷10.8%锟斤拷锟斤拷(chu锟斤拷ng)锟斤拷英锟缴嗭拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟秸斤拷(j锟斤拷ng)指锟斤拷(sh锟斤拷)锟斤拷锟斤拷锟桔碉拷16.90%锟斤拷锟斤拷酆锟斤拷锟街革拷锟�(sh锟斤拷)锟斤拷11.2%锟斤拷锟斤拷锟斤拷锟斤拷墨锟斤拷锟斤拷锟斤拷懈锟斤拷锟斤拷锟�20%锟斤拷锟较★拷

锟斤拷锟斤拷锟斤拷(j锟斤拷ng)锟絕锟斤拷锟秸憋拷锟斤拷锟斤拷锟斤拷全锟斤拷锟斤拷锟轿ｏ拷C锟斤拷未锟結锟斤拷锟斤拷10锟斤拷23锟斤拷锟斤拷投锟結锟斤拷锟絖始锟斤拷锟斤拷锟斤拷元锟斤拷锟斤拷锟斤拷锟皆�锟斤拷锟斤拷H值锟斤拷10锟斤拷26锟斤拷锟斤拷锟斤拷锟斤拷元锟紿值锟斤拷锟斤拷邊锟叫堬拷锟斤拷锟叫憋拷锟斤拷锟斤拷止影锟�锟斤拷锟斤拷指锟劫碉拷8.03%锟斤拷

锟斤拷锟斤拷锟斤拷锟斤拷锟絁锟斤拷锟斤拷锟斤拷前全锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷c锟絚锟斤拷锟斤拷“锟斤拷色锟斤拷锟斤拷一”锟斤拷锟斤拷锟斤拷

锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟节�锟角帮拷锟斤拷锟狡�锟絰锟斤拷(j锟斤拷ng)锟斤拷锟紽(xi锟斤拷n)锟斤拷锟斤拷

锟斤拷锟斤拷锟斤拷1983锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷(j锟斤拷ng)锟斤拷锟組锟斤拷锟斤拷m(x锟斤拷)锟斤拷锟絃锟斤拷锟斤拷锟斤拷锟斤拷也锟組锟斤拷前锟斤拷未锟斤拷牛锟斤拷之锟斤拷锟斤拷1982锟斤拷87锟斤拷锟斤拷锟斤拷指锟较漲2锟斤拷锟洁，锟斤拷锟斤拷锟秸★拷锟铰癸拷锟斤拷也锟街別锟斤拷1.6锟斤拷3.56锟斤拷锟斤拷锟斤拷锟斤拷1987锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷(j锟斤拷ng)锟斤拷锟窖筹拷锟紽(xi锟斤拷n)锟斤拷(j锟斤拷ng)锟斤拷衰锟斤拷锟紼锟斤拷锟斤拷锟給锟斤拷支锟街癸拷锟斤拷锟较漲锟斤拷

锟斤拷锟斤拷MSCI全锟斤拷指锟斤拷(sh锟斤拷)锟斤拷锟斤拷锟絴锟斤拷300.77锟絚锟斤拷12锟斤拷锟铰革拷位锟斤拷锟絕3锟铰時锟侥谷碉拷锟斤拷锟斤拷锟斤拷75%锟斤拷锟斤拷锟斤拷锟斤拷3锟铰谷碉拷锟斤拷锟斤拷锟斤拷锟斤拷50%锟斤拷锟斤拷(j锟斤拷ng)锟斤拷锟絎锟斤拷指锟斤拷锟斤拷“锟絨锟斤拷太锟酵★拷太锟斤拷锟斤拷偏锟絰锟斤拷(j锟斤拷ng)锟斤拷锟斤拷锟斤拷锟斤拷”锟斤拷原锟斤拷锟斤拷失锟絀(y锟斤拷)锟绞革拷锟斤拷锟斤拷锟斤拷锟組锟斤拷負锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷I(y锟斤拷)锟絔見锟斤拷锟結锟斤拷支锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷未見锟斤拷锟斤拷锟斤拷锟叫忥拷锟脚凤拷锟斤拷只锟斤拷“锟斤拷沫”锟斤拷

锟斤拷锟斤拷锟斤拷危锟斤拷锟斤拷路Q锟斤拷锟斤拷元疲锟斤拷锟斤拷锟絕锟絚锟絭史锟较碉拷“锟斤拷色锟斤拷锟斤拷一”锟斤拷锟斤拷锟斤拷

锟斤拷锟斤拷锟斤拷(sh锟斤拷)锟斤拷(j锟斤拷)锟紷示锟斤拷锟組锟斤拷7锟襟工業(y锟斤拷)锟斤拷锟組锟斤拷锟斤拷1987锟斤拷2锟斤拷同锟斤拷锟斤拷锟斤拷锟皆�锟竭忥拷锟斤拷锟斤拷锟斤拷元锟斤拷然锟斤拷锟絤(x锟斤拷)锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟角德囷拷锟斤拷锟斤拷锟节�锟斤拷锟斤拷募锟斤拷锟斤拷锟斤拷锟斤拷锟�锟斤拷锟斤拷锟斤拷全锟斤拷锟饺�锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷K釀筹拷10锟铰碉拷锟紸锟斤拷锟街股烇拷锟斤拷

锟斤拷锟斤拷锟斤拷目前锟斤拷2009锟斤拷锟皆侊拷锟斤拷锟絊锟斤拷全锟斤拷(j锟斤拷ng)锟斤拷锟斤拷锟終锟斤拷锟斤拷元锟斤拷锟経锟斤拷锟斤拷锟秸斤拷锟斤拷锟狡勶拷投锟結锟竭岋拷锟結锟金撤筹拷锟斤拷元锟結锟絘(ch锟斤拷n)锟斤拷锟斤拷锟斤拷锟斤拷元锟斤拷锟捷加勶拷锟斤拷锟斤拷锟斤拷锟斤拷元锟斤拷6锟斤拷锟斤拷要锟絈锟阶伙拷锟截涳拷诺锟斤拷锟皆�指锟斤拷(sh锟斤拷)锟斤拷锟斤拷10锟斤拷15锟秸碉拷锟斤拷14锟斤拷锟斤拷锟铰碉拷锟斤拷锟斤拷锟斤拷锟皆侊拷該指锟斤拷(sh锟斤拷)锟斤拷锟铰碉拷锟絪7%锟斤拷

锟斤拷锟斤拷锟斤拷锟�锟斤拷該锟侥憋拷示锟斤拷锟斤拷锟斤拷锟斤拷財锟斤拷锟斤拷锟街凤拷锟斤拷锟斤拷锟斤拷前锟叫堬拷锟絚“锟斤拷色锟斤拷锟斤拷一”锟叫斤拷锟斤拷之處锟斤拷

锟斤拷锟斤拷1986锟斤拷锟斤拷锟斤拷锟斤拷財锟斤拷2210锟絴锟斤拷元锟斤拷锟絈锟阶筹拷锟斤拷1562锟絴锟斤拷元锟斤拷锟斤拷锟斤拷(chu锟斤拷ng)锟斤拷呒o錄★拷锟斤拷锟斤拷锟斤拷锟斤拷锟斤拷_2636锟絴锟斤拷元锟斤拷锟斤拷锟斤拷锟斤拷锟絕號锟斤拷锟秸囷拷锟斤拷

锟斤拷锟斤拷锟斤拷锟斤拷2009锟斤拷锟皆侊拷锟斤拷锟絊锟斤拷全锟斤拷(j锟斤拷ng)锟斤拷锟斤拷锟終锟斤拷锟斤拷元锟斤拷锟経锟斤拷锟斤拷锟秸斤拷锟斤拷锟狡勶拷投锟結锟竭岋拷锟結锟金撤筹拷锟斤拷元锟結锟絘(ch锟斤拷n)锟斤拷锟斤拷锟斤拷锟斤拷元锟斤拷锟捷加勶拷锟斤拷锟斤拷锟斤拷锟斤拷元锟斤拷6锟斤拷锟斤拷要锟絈锟阶伙拷锟截涳拷诺锟斤拷锟皆�指锟斤拷(sh锟斤拷)锟斤拷锟斤拷10锟斤拷15锟秸碉拷锟斤拷14锟斤拷锟斤拷锟铰碉拷锟斤拷锟斤拷锟斤拷锟皆侊拷該指锟斤拷(sh锟斤拷)锟斤拷锟铰碉拷锟絪7%锟斤拷