??1?????????????23?(?????????)23??,?????????2025?????????????????????????,2025??“4???????????”???????????,?????????????,?,?????????????,??,?????“8+4”???????????,?????

???2025?????? ???????????? ????????????????????

???????,????,2024???????????,??????????7.5%?2025??????????????,???????????????????,????????,?????????

“2025????????,?????,???,??????????????????????‘4???’?”??????

?,2025??,?,????;?????????????????????????????,??????;?????“????????????????????????????”??????,???????????????????500???????????????????2000????,??1000??????????

???,2025????????6%?,??????????6.5%?,“415X”?????9.5??(??,???)?

????,?????2024??????,??????????3.4????,??????4,?????4%?2024???,????,??????????????????158?????????????????,????6000?????????900????

“2025??????,???????????,?????”?????????????,??“??”????2000??,?????????????????,???????????????????????????????????????????????

???,??,????????????????????“?????????”????????????????,2025??1000?????????????????10000?????????????????,????????“???????”??????,???????????????????????????,??100?????????????

????“???????????????+??????+?????????????????”???????,??,???,????????500????,???????

?????????????????2024?????,??,??????2.06???,?????????????????????,??????

“????????????????????,???????????????,????????????,??‘???????’???????????‘???’????????????????????,??????”????????,?????????????REITs(?????????????)????????,????????????????????????????????????????,?????????????

??,2025??????????“8+4”?,?“?????????????????????????????”??,????????“???”?(??????????)

?????:???

??

??:???????????,??????????,??????????????