???????????????????????,??????????,??????,?????,??????????????
???????????????????????????????,????,?????
??????????,??????
3??????????,??????????????????????,?????????????????????……??????,????????????,????????????????
?????????,??????????????????????????????,???????????“???????????”?????????
????????,??????
?????:1?????????22???????????????,?????
????8????
“????????????,??????????”????????,??????????????????????,???????????????
???????,??????????????????????2024??,??;??????????????????,2023??,?????????;2022????,????……“????,????????”?
????????????,????????“???”????,??????????????
?????
????:“??,?????”
????????,??????????
?????????,???,?“?????????,?????????”???????????????……????,?????????
????????????????????,?????????????
???????????????????????????,???????????,????
????,??????????????????????:“???????????????????,????,????”
“??,??????????”??????,??????,??????????:“???????,??,??????????????”
??????????????????,???????,?????????????????,????????????????????????????????????,??????????????????,????????????????????
“???????6??????????????6,?????,???????,??6??6?”?,??????????,“??????????,???????,?????????????,????????????,??????”
“??????,????????????????????”??????????
“??????????????,??????????????,????”
???:“?????????!”
???:“?????????,?????????”
??????????????“??????”,?????????????,????????????????????????????????,???????????“???????”????????,??????
8?????????23???????,????????????????????????????“????”;
9???1???????,????????????????;
9????????15?????,?,???????????????;
10?????????26?????????,41??????;
…………
??????????:“?????????????????????,??,??”
???,???
????????????????????????????????????????????,??????????????????,??????????????
???????,?????????????????????????????,???????????????????????,???????????,???????,????????????????????????????:“???????????????????????????,???????????????,?????????????????????????”
??????????,????????????????,????????????,?????????????
??????????:“??????????,????????,?????,???????,?????????????????????”
??????????,???????????????????????????????????????????????,????????,???,??????????????????????1??????7????,????6.8????????,???,?????,??????????????,?,??????,???????1??????????????????????9???????,??,?????,????????????,??
???????????????????,??????,??????????????????????????????:
“?????,??????????‘??’?????????????,?????????????????????????????????,???????????????,????,????,???”
????????????????????,????
????:23????????????,????
???????????????1829????????????,????,??????????
??????,????????????????????????,????
?,????
??????????,??????????????:“???,???????!?,‘??,??????????’?”
?????,????“?????????????”?????“??”,????????:“?????????,????????????,?,????”
?????????????????,????????????????:“????,????”
????,??????????????“???”;?????????????????????,???????????“???????????”;????,??????“????”???“?????”,???:“??????????,??????????????????????”
????,??????????????????“???”???????????????????????1??:“?????,????????,??????????”
??????,???????????????????:“????,?????????”
???????:“????????,?????????????,????‘??’?‘????????????’?‘???????????’?????,?????????????????”
???????,?????????,??????????
??,?????????,???????????????????????,????“?????????”,??????
??????30?,???????????????????,???????????????????????????????????,“??????”?“????????”???????,????????????????
?????????????????,82?????,?????
???????????,?????????????:“????????????????”
???????????????????????????????????????????,???????“??????????????”???????????,??
?????:“??????????????????,??‘??????’???????????,??????????,??????‘??’????????????????????”
??,??????????
???,???,????????????????,?????????????????,????,?????????
????????,????????????:“‘????????????,??????????????????’?‘???????????????’,???????????????”
??????????????????“??????”???????:
“???????????,??”“???,????????????????????????????????????????”……
??????????????,????????????????????,?????:
“?????,????????????????????,?????????????,??????????????????”
?????«???????»,????????????????
“?????????????????????????????????????????,???????????????????????????,?????”
“???????????????,????????????????????????,??????????????????,??”
?,???
???????:23?????????,???,?????????????
?????
????,?????????,?????????“???????”?????????????????????:“??”?
?????????
????,??????????????,?????????????????????????,???????
?????????,?????????????
???,??????“??”,??????????????????????????????41????,???????40???,????????
??????????
??,??????,????????
?????,??????????????????,????????
????,??“?????????”??????????????????????,????,?????????,??:
??????????25%,???????30%,?????65%,????????10%???????,??????
????
???,?????????????,?????????????????????????????????:“???,???????????,????????,???????????”
????????,???????????????????????????????????????,??,???????????
??,?????????????,?????????????……????
“?????,???”,?????,????????????????????????????????????????????????,??????????????????……????????,???“????????????????”????,????,?????????????,?????
???????,?????????????????????????????,????????????:“????,???!????????????????????????,?????????????????????,????????,?????????,??????????????,??????????????????”
24???????,?,“???????”??????????????,??“??,???”?
???????????:
“????????????????????????‘??????????’?‘???’????????????,???????????”
?,??????????
“???,???????????,?????????????”????????????88.5%??????,??,“????????????????????”?
?????????????,??????????????????????
?????????,??????????????????????????????,????????????????“?”,???????“??????”,??????????“????????”,“??????”?
????????????,???,????,?????????????????????,?????????,??????
“????????,???,??????”????????????????????????????????,????,??????????????????????????
??????,????,??????????,???,??,?????????????????“????‘???,???,??????’?”????,“??????,???????????”
?????????,?????????????,??,?????
????????????,?????????????????????,??????????????????,???????????????????????,????,?????????
??????? ??????? ??????? ????? ??????? ???? ?????????????:????????
???????????????????
2017????????????????????
?????????????????
MSCI??????????15%????????A…
??:????????????3??????
STX?????«???»?«??????»
?????????????:????
???????????????????!
?????«??????»?????????
?????????????:????
??????????????????????
?????????????:??????
???????“?????”????:???
????????????????????
???????????:???????????
MSCI??????????15%????????A…
?????????????????????
?????????“????”???????
?????“??????”:???????
??????????????500????80%?
???:1-2???????5640????8.6%
*ST??:??????????????????
??????????????????????
?????????????????????
«????»??:?????????????