{"id":69545,"date":"2020-11-05T10:22:39","date_gmt":"2020-11-05T10:22:39","guid":{"rendered":"https:\/\/www.zfx.com\/?post_type=market_outlook&#038;p=69545"},"modified":"2020-11-06T08:06:50","modified_gmt":"2020-11-06T08:06:50","slug":"%e9%bb%83%e9%87%91-%e5%83%b9%e6%a0%bc-%e8%b5%b0%e5%8b%a2-%e5%88%86%e6%9e%90","status":"publish","type":"market_outlook","link":"https:\/\/www.zfx.com\/zh-hant\/market-outlook\/%e9%bb%83%e9%87%91-%e5%83%b9%e6%a0%bc-%e8%b5%b0%e5%8b%a2-%e5%88%86%e6%9e%90\/","title":{"rendered":"\u9ec3\u91d1\u50f9\u683c\u8d70\u52e2\u5206\u6790\uff1a\u904e\u53bb50\u5e74\u91d1\u50f9\u56de\u9867\u53ca\u672a\u4f86\u8d70\u52e2\u5c55\u671b"},"content":{"rendered":"<p>\u9ec3\u91d1 \u4e00\u76f4\u5099\u53d7\u5168\u7403\u6295\u8cc7\u8005\u7684\u95dc\u6ce8\uff0c\u5728\u5ee2\u9664\u91d1\u672c\u4f4d\u5236\u5ea6\u4e4b\u524d\uff0c\u6578\u767e\u5e74\u4f86\u9ec3\u91d1\u4e00\u76f4\u90fd\u662f\u8cc7\u672c\u4e3b\u7fa9\u7684\u57fa\u790e\u3002\u7b2c\u4e8c\u6b21\u4e16\u754c\u5927\u6230\u5f8c\uff0c\u7f8e\u570b\u806f\u540c\u4e16\u754c\u4e3b\u8981\u5927\u570b\u65bc1944\u5e74\u5efa\u7acb\u4e86\u300c\u5e03\u96f7\u9813\u68ee\u6797\u8ca8\u5e63\u9ad4\u7cfb\u300d\uff0c\u5c07\u7f8e\u5143\u8207\u9ec3\u91d1\u639b\u52fe\uff0c\u7a69\u5b9a\u5168\u7403\u91d1\u878d\u7cfb\u7d71\uff0c\u633d\u6551\u6230\u5f8c\u897f\u65b9\u5404\u570b\u6b98\u7834\u7684\u7d93\u6fdf\uff0c\u4e5f\u5960\u5b9a\u7f8e\u5143\u6210\u70ba\u4e86\u4e16\u754c\u5132\u5099\u8ca8\u5e63\u7684\u5730\u4f4d\uff0c\u90a3\u6bb5\u6642\u671f\u7f8e\u5143\u4e5f\u56e0\u800c\u7a31\u70ba\u300c\u7f8e\u91d1\u300d\u3002<\/p>\n<p>\u5230\u4e861970\u5e74\u4ee3\uff0c\u7f8e\u570b\u56e0\u8d8a\u6230\u5931\u5229\u3001\u8cbf\u6613\u8d64\u5b57\u8207\u50b5\u52d9\u9ad8\u7bc9\u7b49\u554f\u984c\uff0c\u4f7f\u5f97\u7f8e\u5143\u6301\u7e8c\u8cb6\u503c\uff0c\u8feb\u4f7f\u4e16\u754c\u5404\u570b\u653e\u68c4\u8207\u7f8e\u5143\u639b\u52fe\uff0c\u5be6\u65bd\u6d6e\u52d5\u532f\u7387\u5236\u3002\u53e6\u5916\uff0c\u7f8e\u570b\u4ea6\u4e0d\u518d\u627f\u8afe\u4ee5\u56fa\u5b9a\u5b98\u65b9\u50f9\u514c\u63db\u9ec3\u91d1\uff0c\u4ea6\u5373\u662f\u9ec3\u91d1\u6b63\u5f0f\u8207\u7f8e\u5143\u812b\u52fe\uff0c\u81ea\u6b64\u9ec3\u91d1\u50f9\u683c\u8d70\u52e2\u66f4\u53d7\u5e02\u5834\u4e3b\u5c0e\uff0c\u66f4\u81ea\u7531\u5730\u6d6e\u52d5\u3002<\/p>\n<p>\u672c\u6587\u5c07\u56de\u9867\u904e\u53bb50\u5e74\u7684\u9ec3\u91d1\u50f9\u683c\uff0c\u5206\u6790\u5f71\u97ff\u91d1\u50f9\u7684\u56e0\u7d20\uff0c\u4e26\u5c55\u671b\u672a\u4f86\u7684\u9ec3\u91d1\u50f9\u683c\u52d5\u5411\u3002<\/p>\n<p><!--more--><\/p>\n<h3><span style=\"color: #0055a5\"><strong>\u91d1\u50f9\u6b77\u53f2\u9ad8\u4f4d\u53ca\u4f4e\u4f4d<\/strong><\/span><\/h3>\n<p><strong>\u6b77\u53f2\u4f4e\u4f4d (35\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/p>\n<p>\u7b2c\u4e8c\u6b21\u4e16\u754c\u5927\u6230\u7d50\u675f\u5f8c\uff0c\u4e16\u754c\u5404\u570b\u6025\u9700\u4e00\u500b\u65b0\u7684\u570b\u969b\u91d1\u878d\u9ad4\u7cfb\u4f86\u53d6\u4ee3\u91d1\u672c\u4f4d\u5236\u5ea6\uff0c\u9042\u65bc1944\u5e74\u7531\u7f8e\u570b\u5efa\u7acb\u4e86\u300c\u96f7\u9813\u68ee\u6797\u8ca8\u5e63\u9ad4\u7cfb\u300d\uff0c\u7576\u6642\u7f8e\u570b\u56e0\u70ba\u64c1\u6709\u8d85\u7136\u7684\u653f\u6cbb\u548c\u7d93\u6fdf\u5730\u4f4d\uff0c\u4f7f\u4e4b\u6210\u70ba\u8a72\u9ad4\u7cfb\u7684\u6838\u5fc3\uff0c\u4e26\u4ee5\u7a69\u56fa\u7684\u532f\u7387\u91cd\u5efa\u8cbf\u6613\u6a5f\u5236\uff0c\u56e0\u6b64\u78ba\u7acb\u4e86\u7576\u6642\u300c1\u76ce\u53f8\u9ec3\u91d1\uff1a35\u7f8e\u5143\u300d\u7684\u532f\u7387\u5c07\u5169\u8005\u9023\u7d50\uff0c\u5404\u570b\u8ca8\u5e63\u518d\u8207\u7f8e\u5143\u639b\u52fe\uff0c\u81ea\u6b64\u9ec3\u91d1\u5f9e\u6b77\u53f2\u4f4e\u4f4d35\u7f8e\u5143\/\u76ce\u53f8\uff0c\u958b\u59cb\u4e86\u4e00\u6bb5\u5347\u503c\u4e4b\u65c5\u3002<\/p>\n<p><strong>\u6b77\u53f2\u9ad8\u4f4d (2075\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/p>\n<p>2020\u5e74\u7b2c\u4e00\u5b63\u4e4b\u5f8c\uff0c\u5168\u7403\u65b0\u51a0\u75c5\u6bd2\u5927\u7206\u767c\u8207\u6cb9\u50f9\u5d29\u8dcc\uff0c\u4f7f\u5404\u570b\u7d93\u6fdf\u9ad4\u7cfb\u9762\u81e8\u8870\u9000\u5371\u6a5f\uff0c\u5e02\u5834\u4e0a\u5c0d\u65bc\u98a8\u96aa\u8cc7\u7522\u5145\u6eff\u4e86\u9ad8\u5ea6\u4e0d\u78ba\u5b9a\u6027\uff0c\u6295\u8cc7\u8005\u7d1b\u7d1b\u8f49\u6301\u9ec3\u91d1\u4f5c\u907f\u96aa\uff0c\u63a8\u52d5\u9ec3\u91d1\u50f9\u683c\u4e0d\u65b7\u4e0a\u6f32\u3002\u53e6\u4e00\u65b9\u9762\uff0c\u7f8e\u570b\u57286\u6708\u5e95\u6642\u9762\u81e8\u4e86\u4e8c\u6ce2\u75ab\u60c5\u7684\u7206\u767c\uff0c\u7d93\u6fdf\u524d\u666f\u4e0d\u660e\u6717\u4e5f\u4f7f\u5e02\u5834\u5c0d\u7f8e\u5143\u5931\u53bb\u4fe1\u5fc3\uff0c\u9019\u6bb5\u671f\u9593\u6295\u8cc7\u8005\u5c0d\u9ec3\u91d1\u7684\u907f\u96aa\u9700\u6c42\uff0c\u52dd\u65bc\u624b\u6301\u7f8e\u5143\u7684\u6e34\u671b\uff0c\u758a\u52a0\u7f8e\u806f\u5132\u70ba\u4e86\u523a\u6fc0\u53d7\u75ab\u60c5\u6bd2\u5bb3\u7684\u7d93\u6fdf\uff0c\u65e9\u5df2\u91cd\u555f\u4e86\u91cf\u5316\u5bec\u9b06\u653f\u7b56\uff0c\u8207\u767d\u5bae\u806f\u624b\u6295\u5165\u5927\u91cf\u7684\u7f8e\u5143\u5230\u8ca8\u5e63\u5e02\u5834\u3002\u5927\u91cf\u8cfc\u50b5\u7684\u7d50\u679c\uff0c\u58d3\u4f4e\u4e86\u7f8e\u570b\u50b5\u5238\u6b96\u5229\u7387\uff0c\u4f7f\u7f8e\u5143\u7684\u5438\u5f15\u529b\u5927\u6e1b\uff0c\u7d42\u5c07\u9ec3\u91d1\u65bc2020\u5e748\u6708\u6642\u63a8\u4e0a\u4e86\u6b77\u53f2\u9ad8\u4f4d2075\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<h3><span style=\"color: #0055a5\"><strong>\u91d1\u50f9\u53ca\u7f8e\u80a1\u6307\u6578\u7684\u4e0a\u6f32\u5e45\u5ea6\u6bd4\u8f03<\/strong><\/span><\/h3>\n<p>\u7f8e\u570bGDP\u7d04\u5360\u5168\u7403\u76841\/4\uff0c\u8cbf\u6613\u7e3d\u984d\u66f4\u70ba\u4e16\u754c\u4e4b\u51a0\uff0c\u5168\u7403\u7d93\u6fdf\u6df1\u53d7\u5176\u5f71\u97ff\uff0c\u7f8e\u80a1\u8d70\u52e2\u6b63\u662f\u5224\u65b7\u7f8e\u570b\u7d93\u6fdf\u7684\u6a19\u6e96\u4e4b\u4e00\u3002\u4e0d\u904e\uff0c\u9ec3\u91d1\u4f5c\u70ba\u5168\u7403\u6027\u7684\u907f\u96aa\u8cc7\u7522\uff0c\u91d1\u50f9\u9ad8\u4f4e\u8207\u4e16\u754c\u7d93\u6fdf\u597d\u58de\u5f80\u5f80\u6210\u53cd\u6bd4\u3002\u56e0\u6b64\uff0c\u7f8e\u80a1\u82e5\u662f\u4e0a\u6f32\uff0c\u4ee3\u8868\u7f8e\u570b\u7d93\u6fdf\u5411\u597d\uff0c\u5e02\u5834\u98a8\u96aa\u504f\u597d\u60c5\u7dd2\u5347\u6eab\uff0c\u91d1\u50f9\u5247\u5927\u591a\u5448\u4e0b\u8dcc\u8da8\u52e2\uff1b\u82e5\u662f\u7f8e\u80a1\u4e0b\u8dcc\uff0c\u4ee3\u8868\u7f8e\u570b\u7d93\u6fdf\u8f49\u5dee\uff0c\u5e02\u5834\u907f\u96aa\u60c5\u7dd2\u6500\u5347\uff0c\u91d1\u50f9\u5247\u5927\u591a\u4e0a\u6f32\u3002<\/p>\n<p>\u4f46\u5f9e\u7d93\u6fdf\u5faa\u74b0\u76844\u500b\u5468\u671f\u4f86\u5206\u6790\u6642\uff0c\u5169\u8005\u95dc\u4fc2\u537b\u770b\u8d77\u4f86\u64b2\u6714\u8ff7\u96e2\uff1a<\/p>\n<p><strong>\u4e00. \u666f\u6c23\u64f4\u5f35\u671f(\u80a1\u50f9\u6f32\u3001\u91d1\u50f9\u8dcc)<\/strong><\/p>\n<p>\u5728\u7d93\u6fdf\u8d77\u98db\u6642\uff0c\u5404\u884c\u5404\u696d\u767c\u5c55\u8fc5\u901f\uff0c\u516c\u53f8\u7372\u5229\u72c0\u6cc1\u7a69\u5b9a\u589e\u9577\uff0c\u9019\u6642\u9069\u5408\u6295\u8cc7\u98a8\u96aa\u6027\u8cc7\u7522(\u80a1\u7968)\uff0c\u62cb\u552e\u7121\u5229\u606f\u6536\u76ca\u7684\u907f\u96aa\u6027\u8cc7\u7522(\u9ec3\u91d1)\u3002<\/p>\n<p><strong>\u4e8c. \u666f\u6c23\u8da8\u7de9\u671f(\u80a1\u50f9\u6f32\u3001\u91d1\u50f9\u6f32)<\/strong><\/p>\n<p>\u80a1\u7968\u4f9d\u820a\u662f\u6295\u8cc7\u8005\u6301\u6709\u7684\u8cc7\u7522\u6a19\u7684\u7269\uff0c\u4f46\u96a8\u8457\u7d93\u6fdf\u589e\u901f\u8173\u6b65\u653e\u7de9\uff0c\u98a8\u96aa\u6027\u8cc7\u7522\u9762\u81e8\u4e00\u5b9a\u7a0b\u5ea6\u7684\u56de\u8abf\u4fee\u6b63\uff0c\u6295\u8cc7\u8005\u6b64\u6642\u5c07\u6703\u589e\u6301\u907f\u96aa\u6027\u8cc7\u7522\u7684\u90e8\u4f4d\uff0c\u4ee5\u6c42\u898f\u907f\u5e02\u5834\u98a8\u96aa\u3002<\/p>\n<p><strong>\u4e09. \u666f\u6c23\u8870\u9000\u671f(\u80a1\u50f9\u8dcc\u3001\u91d1\u50f9\u6f32)<\/strong><\/p>\n<p>\u9019\u6642\u7d93\u6fdf\u57fa\u672c\u9762\u53ef\u80fd\u51fa\u73fe\u4e86\u8870\u9000\uff0c\u98a8\u96aa\u6027\u8cc7\u7522\u9762\u81e8\u4e86\u62cb\u552e\u6f6e\uff0c\u5e02\u5834\u907f\u96aa\u60c5\u7dd2\u9ad8\u6602\uff0c\u6295\u8cc7\u8005\u7684\u6240\u6301\u90e8\u4f4d\u6b64\u6642\u4ee5\u907f\u96aa\u6027\u8cc7\u7522\u70ba\u4e3b\u3002<\/p>\n<p><strong>\u56db. \u666f\u6c23\u5fa9\u7526\u671f(\u80a1\u50f9\u6f32\u3001\u91d1\u50f9\u6f32)<\/strong><\/p>\n<p>\u7d93\u6fdf\u81ea\u8c37\u5e95\u958b\u59cb\u5fa9\u7526\uff0c\u5404\u884c\u5404\u696d\u9762\u81e8\u767e\u5ee2\u5f85\u8209\u7684\u72c0\u6cc1\uff0c\u975e\u5e38\u9069\u5408\u6295\u8cc7\u4f4d\u65bc\u4f4e\u50f9\u7684\u98a8\u96aa\u6027\u8cc7\u7522\uff0c\u4f46\u56e0\u5c1a\u672a\u9032\u5165\u666f\u6c23\u64f4\u5f35\u671f\uff0c\u5e02\u5834\u907f\u96aa\u60c5\u7dd2\u5c1a\u672a\u5b8c\u5168\u6d88\u9000\uff0c\u6b64\u6642\u6295\u8cc7\u8005\u5c07\u4e5f\u6301\u6709\u5169\u7a2e\u8cc7\u7522\u3002<\/p>\n<p>\u96d6\u8aaa\u7f8e\u80a1\u8207\u9ec3\u91d1\u50f9\u683c\u7684\u8d70\u52e2\u6c92\u6709\u76f4\u63a5\u76f8\u95dc\u6027\uff0c\u4f46\u5982\u524d\u6240\u8ff0\uff0c\u6295\u8cc7\u8005\u53ef\u7d93\u7531\u89c0\u5bdf\u7f8e\u80a1\u5f97\u77e5\u7f8e\u570b\u7d93\u6fdf\u72c0\u6cc1\uff0c\u9032\u800c\u5224\u8b80\u7f8e\u5143\u672a\u4f86\u8d70\u52e2\uff0c\u800c\u7f8e\u5143\u7121\u8ad6\u5728\u5168\u7403\u7d93\u6fdf\u3001\u901a\u8ca8\u81a8\u8139\u3001\u6216\u662f\u5730\u7de3\u653f\u6cbb\u56e0\u7d20\u7b49\u90fd\u5f71\u97ff\u8457\u9ec3\u91d1\uff0c\u4e5f\u56e0\u5169\u8005\u90fd\u5177\u5099\u4e86\u907f\u96aa\u5c6c\u6027\uff0c\u5c0d\u6295\u8cc7\u8005\u4f86\u8aaa\u90fd\u662f\u907f\u96aa\u7684\u9078\u64c7\u3002\u82e5\u662f\u4e00\u65b9\u8868\u73fe\u904e\u65bc\u5f37\u52e2\u6642\uff0c\u4e5f\u5c07\u76f8\u5c0d\u64e0\u58d3\u5e02\u5834\u5c0d\u53e6\u4e00\u65b9\u7684\u9700\u6c42\u3002<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" width=\"856\" height=\"419\" class=\"alignnone wp-image-69425 size-full\" src=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-51.png\" alt=\"S&amp;P500\u8207\u9ec3\u91d1\u50f9\u683c\u6b77\u53f2\u8d70\u52e2\u95dc\u4fc2\u5716\" srcset=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-51-300x147.png 300w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-51-768x376.png 768w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-51.png 856w\" sizes=\"(max-width: 856px) 100vw, 856px\" \/><br \/>\n<em>\u5716 1\uff1a S&amp;P500\u8207\u9ec3\u91d1\u50f9\u683c\u6b77\u53f2\u8d70\u52e2\u95dc\u4fc2\u5716<\/em><\/p>\n<p>\u7531\u57161\u53ef\u5f97\u77e5\u7f8e\u80a1\u8207\u9ec3\u91d1\u7684\u8d70\u52e2\u6642\u800c\u540c\u5411\u3001\u6642\u800c\u53cd\u5411\u3002<\/p>\n<h3><span style=\"color: #0055a5\"><strong>\u6b77\u53f2\u50f9\u683c\u8d70\u52e2\u53ca\u5c0d\u61c9\u7684\u6b77\u53f2\u4e8b\u4ef6<\/strong><\/span><\/h3>\n<p>\u5f71\u97ff\u91d1\u50f9\u904e\u53bb\u534a\u500b\u4e16\u7d00\u7684\u8d70\u52e2\u56e0\u7d20\u6709\u8a31\u591a\uff0c\u5305\u62ec\uff1a\u7d93\u6fdf\u72c0\u6cc1\u3001\u6cb9\u50f9\u3001\u901a\u8ca8\u81a8\u8139\u7387\u3001\u5730\u7de3\u653f\u6cbb\u3001\u8ca8\u5e63\u653f\u7b56\u3001\u80a1\u5e02\u52d5\u614b\u8207\u5404\u570b\u592e\u884c\u8cb7\u5165\u9ec3\u91d1\u7684\u529b\u9053\u7b49\u3002\u570b\u969b\u5e02\u5834\u4e0a\u7684\u9ec3\u91d1\u90fd\u4ee5\u7f8e\u5143\u8a08\u50f9\uff0c\u56e0\u6b64\u7f8e\u5143\u7684\u5f37\u5f31\u8ddf\u91d1\u50f9\u4e5f\u6709\u76f4\u63a5\u7684\u95dc\u4fc2\uff0c\u7f8e\u5143\u8cb6\u503c\u6642\uff0c\u9ec3\u91d1\u50f9\u683c\u76f8\u5c0d\u4fbf\u5b9c\u800c\u6703\u5347\u503c\u8abf\u6574\uff0c\u53cd\u4e4b\u5247\u4ea6\u7136\uff0c\u89c0\u5bdf\u91d1\u50f9\u7684\u6b77\u53f2\u53ef\u4ee5\u5f97\u77e5\uff0c\u53ea\u8981\u7f8e\u570b\u7d93\u6fdf\u767c\u51fa\u91cd\u5927\u8b66\u8a0a\u6642\u90fd\u5c07\u5f71\u97ff\u91d1\u50f9\u7684\u8d70\u52e2\u3002<\/p>\n<p>1970\u5e74\u4ee3\u6642\uff0c\u7f8e\u570b\u524d\u7e3d\u7d71\u5c3c\u514b\u68ee\u5ba3\u5e03\u7f8e\u5143\u8207\u9ec3\u91d1\u7d50\u675f\u639b\u52fe\uff0c\u5e03\u96f7\u9813\u68ee\u6797\u9ad4\u7cfb\u4e5f\u5ba3\u544a\u7d42\u7d50\uff0c\u91d1\u50f9\u958b\u59cb\u4e86\u81ea\u7531\u6d6e\u52d5\uff0c\u5728\u91d1\u878d\u5e02\u5834\u4e2d\u6210\u70ba\u4ea4\u6613\u5546\u54c1\u3002<\/p>\n<p><img decoding=\"async\" width=\"1084\" height=\"650\" class=\"alignnone wp-image-69434 size-full\" src=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-52.png\" alt=\"980\u5e74\u81f32000\u5e74\u91d1\u50f9\u91cd\u5927\u4e8b\u4ef6\" srcset=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-52-300x180.png 300w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-52-1024x614.png 1024w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-52-768x461.png 768w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-52.png 1084w\" sizes=\"(max-width: 1084px) 100vw, 1084px\" \/><br \/>\n<em>\u57162\uff1a1980\u5e74\u81f32000\u5e74\u91d1\u50f9\u91cd\u5927\u4e8b\u4ef6<\/em><\/p>\n<h5><strong>A\uff1a1980\u5e74(\u91d1\u50f9875\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/h5>\n<p>\u57281979\u5e74\u4e4b\u5f8c\uff0c\u4f0a\u6717\u767c\u751f\u4e86\u300c\u4f0a\u65af\u862d\u9769\u547d\u300d\uff0c\u9020\u6210\u5730\u7de3\u653f\u6cbb\u7684\u7dca\u5f35\u5916\uff0c\u4e5f\u5c0e\u81f4\u4e86\u77f3\u6cb9\u5371\u6a5f\u3002\u53e6\u5916\u8607\u806f\u5165\u4fb5\u963f\u5bcc\u6c57\uff0c\u4ea6\u63a8\u52d5\u907f\u96aa\u7684\u9ec3\u91d1\u9700\u6c42\u3002\u758a\u52a0\u7f8e\u570b\u570b\u5167\u901a\u8139\u8207\u5931\u696d\u7387\u9ad8\u5c45\u4e0d\u4e0b\uff0c\u9577\u6642\u9593\u7684\u8cbf\u6613\u9006\u5dee\u9020\u6210\u50b5\u52d9\u9ad8\u7bc9\uff0c\u91d1\u50f9\u9042\u65bc1980\u5e74\u4e0a\u6f32\u81f3875\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<h5><strong>B\uff1a1983\u5e74(\u91d1\u50f9514\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/h5>\n<p>1980\u5e74\u5f8c\u7f8e\u570b\u653f\u5e9c\u63a1\u53d6\u4e86\u4e00\u7cfb\u5217\u6551\u5e02\u6d3b\u52d5\uff0c\u5305\u62ec\u6e1b\u7a05\u3001\u7e2e\u6e1b\u958b\u652f\u3001\u63a7\u5236\u8ca8\u5e63\u4f9b\u7d66\u91cf\u7b49\u653f\u7b56\u4f86\u964d\u4f4e\u901a\u8139\uff0c\u523a\u6fc0\u7d93\u6fdf\u6210\u9577\uff0c\u4f7f\u5f97\u7f8e\u570b\u7d93\u6fdf\u4e00\u5ea6\u597d\u8f49\uff0c\u4f46\u81f31982\u5e74\u6642\u7f8e\u570b\u964d\u4f4e\u4e86\u8cbc\u73fe\u7387\uff0c\u7f8e\u5143\u8d70\u8edf\uff0c\u9593\u63a5\u63a8\u9ad8\u91d1\u50f9\u89f8\u53ca\u76f8\u5c0d\u9ad8\u9ede514\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<h5><strong>C\uff1a1987\u5e74(\u91d1\u50f9502\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/h5>\n<p>\u7f8e\u570b\u80a1\u5e02\u5d29\u76e4\uff0c\u91d1\u50f9\u518d\u6b21\u4e0a\u6f32\u81f3502\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<h5><strong>D\uff1a1999\u5e74(\u91d1\u50f9253\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/h5>\n<p>\u91d1\u50f9\u6b64\u6b21\u7684\u4e0b\u8dcc\u4e3b\u56e0\u70ba\u958b\u63a1\u6280\u8853\u9032\u6b65\u6240\u9020\u6210\uff0c\u5728\u570b\u969b\u60c5\u52e2\u7a69\u5b9a\u8207\u9ec3\u91d1\u4f9b\u904e\u65bc\u6c42\u7684\u524d\u63d0\u4e0b\uff0c\u5404\u570b\u592e\u884c\u4e0d\u65b7\u62cb\u552e\u9ec3\u91d1\uff0c\u4f7f\u9ec3\u91d1\u8dcc\u81f3253\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<p><img decoding=\"async\" width=\"609\" height=\"420\" class=\"alignnone wp-image-69443 size-full\" src=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-53.png\" alt=\"2000\u5e74\u81f32008\u5e74\u91d1\u50f9\u8d70\u52e2\" srcset=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-53-300x207.png 300w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-53.png 609w\" sizes=\"(max-width: 609px) 100vw, 609px\" \/><br \/>\n<em>\u57163\uff1a2000\u5e74\u81f32008\u5e74\u91d1\u50f9\u8d70\u52e2<\/em><\/p>\n<h5><strong>E\uff1a2008\u5e74(1032\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/h5>\n<p>1999\u5e74\u9ec3\u91d1\u81ea\u4f4e\u4f4d253\u7f8e\u5143\/\u76ce\u53f8\u958b\u59cb\u53cd\u5f48\uff0c\u9664\u4e86\u53d7\u60e0\u65bc\u591a\u500b\u6b50\u6d32\u570b\u5bb6\u592e\u884c\u5171\u540c\u767c\u5e03\u300c\u592e\u884c\u9ec3\u91d1\u5354\u8b70\u300d(Central Bank Gold Agreement)\u3000\u907f\u514d\u91d1\u50f9\u5d29\u8dcc\u5916\uff0c 2001\u5e74\u7f8e\u570b\u906d\u53d7911\u6050\u653b\u30012003\u5e74\u7f8e\u4f0a\u6230\u722d\u82072008\u5e74\u96f7\u66fc\u5144\u5f1f\u516c\u53f8\u5012\u9589\u5f15\u767c\u5168\u7403\u91d1\u878d\u5371\u6a5f\uff0c\u4e0a\u8ff0\u5730\u7de3\u653f\u6cbb\u56e0\u7d20\u8207\u7d93\u6fdf\u554f\u984c\u806f\u624b\u5c07\u91d1\u50f9\u63a8\u9ad8\u81f31032\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" width=\"856\" height=\"418\" class=\"alignnone wp-image-69452\" src=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-54.png\" alt=\"2008\u5e74\u81f32020\u5e74\u91d1\u50f9\u91cd\u5927\u4e8b\u4ef6\" srcset=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-54-300x146.png 300w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-54-768x375.png 768w, https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/11\/word-image-54.png 856w\" sizes=\"(max-width: 856px) 100vw, 856px\" \/><br \/>\n<em>\u57164\uff1a2008\u5e74\u81f32020\u5e74\u91d1\u50f9\u91cd\u5927\u4e8b\u4ef6<\/em><\/p>\n<h5><strong>F\uff1a2011\u5e74(\u91d1\u50f91921\u7f8e\u5143\/\u76ce\u53f8)<\/strong><\/h5>\n<p>2008\u5e74\u91d1\u878d\u5371\u6a5f\u5f8c\uff0c\u5168\u7403\u5404\u570b\u70ba\u4e86\u6551\u5e02\uff0c\u4e0d\u7d04\u800c\u540c\u63a1\u53d6\u4e86\u91cf\u5316\u5bec\u9b06\u653f\u7b56\uff0c\u5404\u570b\u8ca8\u5e63\u50f9\u503c\u5927\u5e45\u7e2e\u6c34\uff0c\u4f46\u798d\u4e0d\u55ae\u884c\uff0c2011\u5e74\u53c8\u7206\u767c\u4e86\u6b50\u50b5\u5371\u6a5f\u53ca\u7f8e\u50b5\u5371\u6a5f\uff0c\u5e02\u5834\u71b1\u9322\u56e0\u800c\u8f49\u79fb\u81f3\u6297\u901a\u8139\u8207\u907f\u96aa\u517c\u5177\u7684\u9ec3\u91d1\u8eab\u4e0a\uff0c\u91d1\u50f9\u72c2\u5347\u81f31921\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<h5>G\uff1a2020\u5e74(\u91d1\u50f92075\u7f8e\u5143\/\u76ce\u53f8)<\/h5>\n<p>2020\u5e74\u7206\u767c\u4e86\u5168\u7403\u65b0\u51a0\u75ab\u60c5\u8207\u6cb9\u50f9\u5d29\u8dcc\uff0c\u9020\u6210\u7f8e\u80a1\u591a\u6b21\u7194\u65b7\uff0c\u5404\u570b\u70ba\u4e86\u5168\u529b\u6436\u6551\u7d93\u6fdf\uff0c\u5be6\u65bd\u4e86\u524d\u6240\u672a\u6709\u7684\u5168\u7403\u5bec\u9b06\u8ca8\u5e63\u653f\u7b56\uff0c\u91d1\u50f9\u4e5f\u6beb\u7121\u61f8\u5ff5\u7684\u7ad9\u4e0a\u6b77\u53f2\u9ad8\u9ede2075\u7f8e\u5143\/\u76ce\u53f8\u3002<\/p>\n<h3><span style=\"color: #0055a5\"><strong>\u91d1\u50f9\u672a\u4f86\u5c55\u671b<\/strong><\/span><\/h3>\n<p>\u9019\u6b21\u7684\u5168\u7403\u91cf\u5316\u5bec\u9b06\u6a21\u5f0f\u662f2008\u5e74\u91d1\u878d\u5371\u6a5f\u7684\u6578\u500d\u4ee5\u4e0a\uff0c\u5728\u5404\u570b\u592e\u884c\u536f\u8db3\u4e86\u52c1\u5370\u9214\u4e4b\u4e0b\uff0c\u63d0\u9ad8\u4e86\u6cd5\u5b9a\u8ca8\u5e63\u7684\u8cb6\u503c\u98a8\u96aa\uff0c\u901a\u8ca8\u81a8\u8139\u7684\u5371\u6a5f\u6050\u4e5f\u5c07\u96a8\u4e4b\u800c\u4f86\uff0c\u9ec3\u91d1\u7684\u4fdd\u503c\u4f5c\u7528\u5927\u589e\u3002<\/p>\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u75ab\u60c5\u7684\u6301\u7e8c\u5347\u6eab\uff0c\u5c0d\u672a\u4f86\u5e7e\u5e74\u5168\u7403\u7d93\u6fdf\u9020\u6210\u91cd\u5927\u6539\u8b8a\uff0c\u6050\u9700\u4e00\u6bb5\u9577\u6642\u9593\u624d\u80fd\u6062\u5fa9\u81f3\u56b4\u91cd\u8870\u9000\u4e4b\u524d\u3002\u518d\u8005\uff0c\u570b\u969b\u5f62\u52e2\u5145\u6eff\u4e86\u8b8a\u5316\u56e0\u7d20\uff0c\u4e2d\u7f8e\u95dc\u4fc2\u4e00\u76f4\u7dca\u5f35\uff0c\u5728\u53ef\u898b\u5c07\u4f86\uff0c\u9ec3\u91d1\u7684\u6297\u901a\u8139\u7279\u6027\u8207\u907f\u96aa\u50f9\u503c\u4e5f\u5c07\u5927\u653e\u7570\u5f69\u3002<\/p>\n<p>\u80a1\u795e\u5df4\u83f2\u7279\u5728\u672c\u5e74\u5c0d\u5916\u516c\u5e03\uff0c\u589e\u52a0\u4e86\u9ec3\u91d1\u7684\u6301\u5009\uff0c\u5c0d\u5916\u754c\u4e5f\u662f\u4e00\u7a2e\u8a0a\u865f\u3002\u5df4\u83f2\u7279\u5411\u4f86\u4e0d\u559c\u597d\u96f6\u6536\u76ca\u7684\u9ec3\u91d1\uff0c\u4f46\u6b64\u8209\u53cd\u6620\u4e86\u80a1\u795e\u5c0d\u9ec3\u91d1\u7684\u770b\u6cd5\u6709\u8b8a\uff0c\u4e2d\u9577\u7dda\u800c\u8a00\u6216\u8a31\u4e5f\u6709\u4e00\u6ce2\u5347\u52e2\u3002<\/p>\n<p>\u2014\u2014<\/p>\n<h5><strong>\u95dc\u65bc\u00a0<a href=\"https:\/\/www.zfx.com\/zh-hant\/\">ZFX &#8211; Zeal Capital Market<\/a><\/strong><\/h5>\n<ul>\n<li>\u53d7FCA\u3001FSA\u76e3\u7ba1\uff0c\u69ae\u7372 Financial Weekly 2019\u5e74 \u6700\u4f73\u4ea4\u6613\u5e73\u53f0<\/li>\n<li>\u63d0\u4f9b100+ \u7a2e\u4ea4\u6613\u7522\u54c1\uff0c\u5305\u62ec<strong><a href=\"https:\/\/www.zfx.com\/zh-hant\/products\/forex\/\">\u5916\u532f<\/a><\/strong>\u3001<strong><a href=\"https:\/\/www.zfx.com\/zh-hant\/products\/shares\/\">\u80a1\u7968<\/a><\/strong>\u3001<strong><a href=\"https:\/\/www.zfx.com\/zh-hant\/products\/indices\/\">\u6307\u6578<\/a><\/strong>\u3001<strong><a href=\"https:\/\/www.zfx.com\/zh-hant\/products\/commodities\/\">\u9ec3\u91d1<\/a><\/strong>\u3001<strong><a href=\"https:\/\/www.zfx.com\/zh-hant\/products\/commodities\/\">\u539f\u6cb9<\/a><\/strong>\u7b49<\/li>\n<li>\u4e09\u7a2e<strong><a href=\"https:\/\/www.zfx.com\/zh-hant\/accounts\/\">\u4ea4\u6613\u5e33\u6236<\/a><\/strong>\uff0c\u6eff\u8db3\u4e0d\u540c\u5ba2\u6236\u7684\u6295\u8cc7\u9700\u6c42<\/li>\n<li>\u96f6\u4f63\u91d1\u3001\u4f4e\u50f9\u5dee\uff0c\u6760\u687f\u7387\u9ad8\u90541 : 2000<\/li>\n<li>\u5f37\u5927\u7684\u4ea4\u6613\u7cfb\u7d71\uff0c\u6bcf\u79d2\u57f7\u884c50,000\u8a02\u55ae<\/li>\n<li>\u6700\u4f4e\u5165\u91d150\u7f8e\u91d1\u5373\u53ef\u958b\u6236<\/li>\n<li>24\u5c0f\u6642<strong><a href=\"https:\/\/www.zfx.com\/zh-hant\/about-zfx\/contact-us\/\">\u4e2d\u6587\u5ba2\u6236\u670d\u52d9<\/a><\/strong><\/li>\n<\/ul>\n<p><a href=\"https:\/\/my.zfx.com\/zh-hant\/reg\/truely\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-53444 size-full\" src=\"https:\/\/www.zfx.com\/wp-content\/uploads\/2020\/08\/start-trading-tc.jpg\" alt=\"\" width=\"130\" height=\"48\" \/><\/a><br \/>\n\u2014\u2014<\/p>\n<p><strong>\u98a8\u96aa\u63d0\u793a<\/strong><strong>:<\/strong><strong>\u4ee5\u4e0a\u5167\u5bb9\u50c5\u4f9b\u53c3\u8003\uff0c\u4e0d\u4ee3\u8868<\/strong><strong>ZFX<\/strong><strong>\u7acb\u5834\uff0c<\/strong><strong>ZFX<\/strong><strong>\u4e0d\u627f\u64d4\u6839\u64da\u672c\u6587\u6240\u9032\u884c\u4efb\u4f55\u8cb7\u8ce3\u64cd\u4f5c\u800c\u5c0e\u81f4\u7684\u4efb\u4f55\u5f62\u5f0f\u640d\u5931\u3002\u8acb\u5805\u5b9a\u81ea\u5df1\u7684\u601d\u8def\uff0c\u505a\u597d\u76f8\u61c9\u98a8\u96aa\u63a7\u5236\u3002<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u9ec3\u91d1\u4e00\u76f4\u5099\u53d7\u5168\u7403\u6295\u8cc7\u8005\u7684\u95dc\u6ce8\uff0c\u672c\u6587\u5c07\u56de\u9867\u904e\u53bb50\u5e74\u7684\u9ec3\u91d1\u50f9\u683c\uff0c\u5206\u6790\u5f71\u97ff\u91d1\u50f9\u7684\u56e0\u7d20\uff0c\u4e26\u5c55\u671b\u672a\u4f86\u7684\u9ec3\u91d1\u50f9\u683c\u52d5\u5411\u3002<\/p>\n","protected":false},"author":87,"featured_media":27386,"template":"","market_outlook_categories":[11797],"market_outlook_tags":[],"class_list":["post-69545","market_outlook","type-market_outlook","status-publish","has-post-thumbnail","hentry","market_outlook_categories-gold-market-analysis-zh-hant"],"acf":[],"current_lang":"zh-hant","_links":{"self":[{"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/market_outlook\/69545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/market_outlook"}],"about":[{"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/types\/market_outlook"}],"author":[{"embeddable":true,"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/users\/87"}],"version-history":[{"count":0,"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/market_outlook\/69545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/media\/27386"}],"wp:attachment":[{"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/media?parent=69545"}],"wp:term":[{"taxonomy":"market_outlook_categories","embeddable":true,"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/market_outlook_categories?post=69545"},{"taxonomy":"market_outlook_tags","embeddable":true,"href":"https:\/\/www.zfx.com\/zh-hant\/wp-json\/wp\/v2\/market_outlook_tags?post=69545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}