{"id":720530,"date":"2026-02-10T18:44:20","date_gmt":"2026-02-10T10:44:20","guid":{"rendered":"https:\/\/www.alphaseek.cn\/?p=720530"},"modified":"2026-02-10T18:44:20","modified_gmt":"2026-02-10T10:44:20","slug":"%e6%97%a5%e5%85%83%e5%bc%b1%e5%8a%bf%e6%88%96%e5%bb%b6%e7%bb%ad%e8%87%b32027%e5%b9%b4%ef%bc%9f%e7%bb%8f%e6%b5%8e%e5%ad%a6%e5%ae%b6%ef%bc%9a%e6%97%a5%e7%bb%8f%e6%b5%8e%e9%99%b7%e5%85%a5","status":"publish","type":"post","link":"https:\/\/www.alphaseek.cn\/?p=720530","title":{"rendered":"\u65e5\u5143\u5f31\u52bf\u6216\u5ef6\u7eed\u81f32027\u5e74\uff1f\u7ecf\u6d4e\u5b66\u5bb6\uff1a\u65e5\u7ecf\u6d4e\u9677\u5165\u201c\u8d2c\u503c\u201d\u4e0e\u201c\u901a\u80c0\u201d\u4e92\u76f8\u5582\u517b\u7684\u602a\u5708"},"content":{"rendered":"<div>\n<p>\u968f\u7740\u81ea\u6c11\u515a\u5728<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%97%a5%e6%9c%ac\" title=\"View all posts in \u65e5\u672c\" target=\"_blank\" class=\"tag_link\">\u65e5\u672c<\/a>\u4f17\u8bae\u9662\u9009\u4e3e\u4e2d\u83b7\u5f97\u8d85\u8fc7\u4e09\u5206\u4e4b\u4e8c\u7684&ldquo;\u8d85\u7ea7\u591a\u6570&rdquo;\u5e2d\u4f4d\uff0c\u5bf9\u65e5\u672c&ldquo;\u518d<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%80%9a%e8%83%80\" title=\"View all posts in \u901a\u80c0\" target=\"_blank\" class=\"tag_link\">\u901a\u80c0<\/a>&rdquo;<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%a3%8e%e9%99%a9\" title=\"View all posts in \u98ce\u9669\" target=\"_blank\" class=\"tag_link\">\u98ce\u9669<\/a>\u7684\u62c5\u5fe7\u91cd\u8fd4\u5e02\u573a\u3002<\/p>\n<p>\u725b\u6d25\u7ecf\u6d4e\u7814\u7a76\u9662\u5728\u6700\u65b0\u7814\u7a76\u62a5\u544a\u4e2d\u9884\u8ba1<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%97%a5%e5%85%83\" title=\"View all posts in \u65e5\u5143\" target=\"_blank\" class=\"tag_link\">\u65e5\u5143<\/a>\u5f31\u52bf\u5c06\u5ef6\u7eed\u81f32027\u5e74\uff0c<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%b1%87%e7%8e%87\" title=\"View all posts in \u6c47\u7387\" target=\"_blank\" class=\"tag_link\">\u6c47\u7387<\/a>\u533a\u95f4\u7ef4\u6301\u5728150-160\u65e5\u5143\/\u7f8e\u5143\u3002\u5728<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%80%ba%e5%88%b8\" title=\"View all posts in \u503a\u5238\" target=\"_blank\" class=\"tag_link\">\u503a\u5238<\/a>\u5e02\u573a\uff0c2\u670810\u65e5\u7684\u65e5\u672c30\u5e74\u671f\u56fd\u503a\u6536\u76ca\u7387\u4e3a3.50%\uff0c\u8f83\u53bb\u5e74\u540c\u671f\u5927\u5e45\u4e0a\u6da81.21\u4e2a\u767e\u5206\u70b9\u3002<\/p>\n<p>\u5609\u76db\u96c6\u56e2\u8d44\u6df1\u5206\u6790\u5e08\u65af\u5609\u7279\uff08David Scutt\uff09\u8ba4\u4e3a\uff0c\u9ad8\u5e02\u65e9\u82d7\u63a8\u884c\u518d\u901a\u80c0\u653f\u7b56\u7684\u6fc0\u8fdb\u7a0b\u5ea6\u751a\u81f3\u53ef\u80fd\u8d85\u51fa\u5e02\u573a\u6b64\u524d\u7684\u9884\u671f\u3002\u867d\u7136\u8fd9\u5e76\u4e0d\u610f\u5473\u7740\u653f\u7b56\u76ee\u6807\u76f4\u6307\u5f31\u52bf\u65e5\u5143\uff0c\u4f46\u66f4\u6fc0\u8fdb\u7684\u8d22\u653f\u6269\u5f20\u5fc5\u5c06\u8003\u9a8c\u5168\u7403<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%8a%95%e8%b5%84\" title=\"View all posts in \u6295\u8d44\" target=\"_blank\" class=\"tag_link\">\u6295\u8d44<\/a>\u8005\u7684\u5bb9\u5fcd\u5ea6\u3002<\/p>\n<p>\u745e\u58eb\u767e\u8fbe\u8d44\u7ba1\uff08Pictet Asset Management\uff09\u9996\u5e2d\u7ecf\u6d4e\u5b66\u5bb6\u97e6\u67cf\u777f\uff08Patrick Zweifel\uff09\u5219\u8868\u793a\uff0c\u63a8\u9ad8\u503a\u5238\u6536\u76ca\u7387\u7684\u529b\u91cf\u5f88\u5927\u7a0b\u5ea6\u4e0a\u6e90\u4e8e\u65b0\u8d22\u653f\u65b9\u6848\u5e26\u6765\u7684\u5de8\u5927\u4e0d\u786e\u5b9a\u6027\u3002\u8fd9\u6b63\u662f\u6240\u8c13\u7684&ldquo;\u503a\u5238\u536b\u58eb&rdquo;\u5728\u884c\u52a8\uff0c\u5728\u8d22\u653f\u653f\u7b56\u9762\u524d\uff0c\u552f\u6709\u503a\u5238\u5e02\u573a\u80fd\u5145\u5f53&ldquo;\u8b66\u5bdf&rdquo;\u3002\u4e00\u65e6\u5bdf\u89c9\u653f\u7b56\u65b9\u5411\u5b58\u5728\u8fc7\u5ea6\u6269\u5f20\u7684\u98ce\u9669\uff0c\u5e02\u573a\u4fbf\u4f1a\u901a\u8fc7\u63a8\u9ad8\u5229\u7387\u6765\u5b9e\u65bd&ldquo;\u60e9\u7f5a&rdquo;\u3002<\/p>\n<p><img src=\"https:\/\/imgcdn.yicai.com\/uppics\/images\/2026\/02\/44d05efe8d17ae9ca5104221c1327f18.jpg\" style=\"display:block; margin-left:auto; margin-right:auto; \" alt=\"\u65e5\u5143\u5f31\u52bf\u6216\u5ef6\u7eed\u81f32027\u5e74\uff1f\u7ecf\u6d4e\u5b66\u5bb6\uff1a\u65e5\u7ecf\u6d4e\u9677\u5165\u201c\u8d2c\u503c\u201d\u4e0e\u201c\u901a\u80c0\u201d\u4e92\u76f8\u5582\u517b\u7684\u602a\u5708\" \/><\/p>\n<p><strong><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%9f%ba%e6%9c%ac%e9%9d%a2\" title=\"View all posts in \u57fa\u672c\u9762\" target=\"_blank\" class=\"tag_link\">\u57fa\u672c\u9762<\/a>\u4e4b\u56f0\u4e0e&ldquo;\u6076\u6027\u5faa\u73af&rdquo;<\/strong><\/p>\n<p>\u725b\u6d25\u7ecf\u6d4e\u5b66\u9662\u65e5\u672c\u7ecf\u6d4e\u7814\u7a76\u4e3b\u7ba1\u6c38\u4e95\u6ecb\u4eba\uff08Shigeto Nagai\uff09\u8868\u793a\uff0c\u5168\u7403\u6295\u8d44\u8005\u4e4b\u6240\u4ee5\u62c5\u5fe7\u8d22\u653f\u72b6\u51b5\u53ef\u80fd\u8fdb\u4e00\u6b65\u6076\u5316\uff0c\u662f\u56e0\u4e3a\u65e5\u672c\u6267\u653f\u515a\u627f\u8bfa\u5c06\u63a2\u8ba8\u628a\u98df\u54c1\u6d88\u8d39\u7a0e\u4ece\u73b0\u884c\u76848%\u964d\u81f3\u96f6\uff0c\u671f\u9650\u4e3a\u4e24\u5e74\u3002\u5c3d\u7ba1\u8be5\u63aa\u65bd\u9884\u8ba1\u5c06\u4f7f<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e7%a8%8e%e6%94%b6\" title=\"View all posts in \u7a0e\u6536\" target=\"_blank\" class=\"tag_link\">\u7a0e\u6536<\/a>\u6bcf\u5e74\u51cf\u5c115\u4e07\u4ebf\u65e5\u5143\uff0c\u4f46\u8fd9\u5e76\u672a\u6539\u53d8\u8be5\u673a\u6784\u5bf92026\u548c2027\u8d22\u5e74\u7684\u8d22\u653f\u9884\u6d4b\uff0c\u56e0\u4e3a<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%87%8f%e7%a8%8e\" title=\"View all posts in \u51cf\u7a0e\" target=\"_blank\" class=\"tag_link\">\u51cf\u7a0e<\/a>\u63aa\u65bd\u9700\u7ecf\u81f3\u5c11\u4e24\u5e74\u7684\u5ba1\u8bae\u624d\u80fd\u5b9e\u65bd\uff0c\u751a\u81f3\u53ef\u80fd\u6700\u7ec8\u88ab\u6401\u7f6e\u3002\u6b64\u5916\uff0c\u51cf\u7a0e\u653f\u7b56\u5f88\u53ef\u80fd\u4f34\u968f\u5176\u4ed6\u9650\u5236\u8d22\u653f\u6536\u652f\u6076\u5316\u7684\u914d\u5957\u63aa\u65bd\u3002<\/p>\n<p>\u8be5\u673a\u6784\u9884\u8ba1\uff0c2026\u548c2027\u8d22\u5e74\u57fa\u672c\u8d22\u653f\u8d64\u5b57\u5360GDP\u6bd4\u91cd\u5c06\u4e3a2%-3%\uff0c\u5e76\u9884\u8ba1\u8be5\u6c34\u5e73\u5c06\u5ef6\u7eed\u81f32028\u8d22\u5e74\uff0c\u76f4\u81f32029\u8d22\u5e74\u53ca\u4e4b\u540e\u624d\u4f1a\u5f00\u59cb\u9010\u6b65\u4e0b\u964d\u3002<\/p>\n<p>\u5728\u97e6\u67cf\u777f\u770b\u6765\uff0c\u65e5\u672c\u76ee\u524d\u6b63\u5904\u4e8e\u4e00\u4e2a\u7531&ldquo;<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e8%b4%ac%e5%80%bc\" title=\"View all posts in \u8d2c\u503c\" target=\"_blank\" 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class=\"tag_link\">\u65e5\u5143\u8d2c\u503c<\/a>\uff1b\u800c\u8d2c\u503c\u53cd\u8fc7\u6765\u53c8\u63a8\u9ad8\u4e86\u8f93\u5165\u6027\u901a\u80c0\uff0c&ldquo;\u5728\u8fd9\u79cd\u6a21\u5f0f\u4e0b\uff0c\u65e5\u672c\u7684\u8868\u73b0\u66f4\u50cf\u662f\u8fc7\u53bb\u5341\u5e74\u7684<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e6%96%b0%e5%85%b4%e5%b8%82%e5%9c%ba\" title=\"View all posts in \u65b0\u5174\u5e02\u573a\" target=\"_blank\" class=\"tag_link\">\u65b0\u5174\u5e02\u573a<\/a>&rdquo;\u3002<\/p>\n<p>\u97e6\u67cf\u777f\u79f0\uff0c\u901a\u80c0\u6210\u4e3a\u4e86\u5173\u952e\u53d8\u91cf\u3002\u5982\u679c\u592e\u884c\u62e5\u6709\u8db3\u591f\u7684\u516c\u4fe1\u529b\uff0c\u660e\u786e\u8868\u793a\u8981\u5c06\u901a\u80c0\u5e26\u56de2%\u7684\u76ee\u6807\uff0c\u5e02\u573a\u901a\u5e38\u4f1a\u9009\u62e9\u4fe1\u4efb\u3002\u7136\u800c\u73b0\u5b9e\u662f\uff0c\u5f53\u901a\u80c0\u63a5\u8fd13%\u800c\u77ed\u671f\u5229\u7387\u4ec5\u4e3a1%\u65f6\uff0c\u65e5\u672c\u592e\u884c\u5e76\u6ca1\u6709\u53d1\u51fa&ldquo;\u7aed\u5c3d\u5168\u529b\u6297\u901a\u80c0&rdquo;\u7684\u4fe1\u53f7\u3002\u8fd9\u79cd\u9ed8\u8bb8\u6001\u5ea6\u4e0d\u4ec5\u7ef4\u6301\u4e86<a href=\"https:\/\/www.alphaseek.cn\/?tag=%e9%ab%98%e9%80%9a\" title=\"View all posts in \u9ad8\u901a\" target=\"_blank\" class=\"tag_link\">\u9ad8\u901a<\/a>\u80c0\u9884\u671f\uff0c\u751a\u81f3\u4e5f\u5728\u63a8\u9ad8\u5b83\u3002<\/p>\n<p>\u97e6\u67cf\u777f\u5c06\u5229\u7387\u4e0a\u5347\u5212\u5206\u4e3a\u4e24\u79cd\u6027\u8d28\uff0c\u4e00\u79cd\u662f\u57fa\u4e8e\u589e\u957f\u7684\u826f\u6027\u6ea2\u4ef7\uff0c\u53e6\u4e00\u79cd\u65e5\u5143\u5f53\u524d\u7684\u60c5\u51b5\uff0c\u5373\u5229\u7387\u968f\u901a\u80c0\u5931\u63a7\u548c\u4e3b\u6743\u98ce\u9669\u98d9\u5347\u800c\u4e0a\u5347\uff08\u5b9e\u9645\u5229\u7387\u5728\u4e0b\u964d\uff09\uff0c\u8fd9\u4e0d\u4ec5\u672a\u80fd\u5438\u5f15\u8d44\u91d1\u56de\u6d41\uff0c\u53cd\u800c\u52a0\u5267\u4e86\u5e02\u573a\u5bf9\u65e5\u672c\u4e3b\u6743\u98ce\u9669\u7684\u62c5\u5fe7\uff0c\u5f62\u6210\u4e86&ldquo;\u8d22\u653f\u6269\u5f20&mdash;&mdash;\u901a\u80c0\u9884\u671f\u5931\u63a7&mdash;&mdash;\u672c\u5e01\u8d2c\u503c&rdquo;\u7684\u6076\u6027\u5faa\u73af\u3002<\/p>\n<p>\u4ed6\u76f4\u8a00\uff0c\u8981\u6253\u7834\u8fd9\u4e2a\u6b7b\u7ed3\u53ea\u6709\u4e09\u6761\u8def\u3002\u8981\u4e48\u592e\u884c\u5ba3\u5e03<a 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class=\"tag_link\">\u8d27\u5e01<\/a>\u516c\u4fe1\u529b\uff1b\u8981\u4e48\u901a\u80c0\u7a81\u7136\u4e0b\u964d\uff0c\u4f46\u7531\u4e8e\u901a\u80c0\u6e90\u4e8e\u5f31\u52bf\u65e5\u5143\uff0c\u8fd9\u51e0\u4e4e\u4e0d\u53ef\u80fd\u53d1\u751f\uff1b\u7b2c\u4e09\u5219\u662f\u653f\u5e9c\u7684\u8d22\u653f\u7acb\u573a\u8f6c\u5411<strong>\uff0c<\/strong>\u91c7\u53d6\u7d27\u7f29\u63aa\u65bd\uff0c\u51cf\u5c11\u503a\u5238\u4f9b\u5e94\u3002<\/p>\n<p><strong>\u65e5\u672c\u592e\u884c\u548c\u8d22\u52a1\u7701\u5982\u4f55\u5e72\u9884<\/strong><\/p>\n<p>\u5728\u5f53\u524d\u80cc\u666f\u4e0b\uff0c\u97e6\u67cf\u777f\u6240\u79f0\u7684\u540e\u4e24\u6761\u8def\u51e0\u4e4e\u662f\u884c\u4e0d\u901a\u7684\u3002\u90a3\u4e48\uff0c\u592e\u884c\u662f\u5426\u53ef\u80fd\u4e3a\u4e86\u634d\u536b\u65e5\u5143\u800c\u63d0\u524d\u5927\u5e45\u52a0\u606f\uff1f<\/p>\n<p><a href=\"https:\/\/www.alphaseek.cn\/?tag=%e5%bd%ad%e5%8d%9a\" title=\"View all posts in \u5f6d\u535a\" target=\"_blank\" 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<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u968f\u7740\u81ea\u6c11\u515a\u5728\u65e5\u672c\u4f17\u8bae\u9662\u9009\u4e3e\u4e2d\u83b7\u5f97\u8d85\u8fc7\u4e09\u5206\u4e4b\u4e8c\u7684&ldquo;\u8d85\u7ea7\u591a\u6570&rdquo;\u5e2d\u4f4d\uff0c\u5bf9\u65e5\u672c&ldquo;\u518d [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[3],"tags":[40,286,245,81,96,19,265,35,43,131,16,241,240,350,372,179,50,79,177,88,367,144,34,352,42,41,192,303],"views":73,"_links":{"self":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/720530"}],"collection":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=720530"}],"version-history":[{"count":0,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=\/wp\/v2\/posts\/720530\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=720530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=720530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.alphaseek.cn\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=720530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}