???????????/???

???????????????,??????????

????????????????????24??,?????????????????????

??????????+???????????????????????

????????????????????,????0.5???,??????1????;??????????????????,???????????0.25??????????0.5?????

?????????,???????,7??0.2????????,??????????????????1.7%???1.5%,??????????????????,???

??,????7%,?????,???????????????8.5%???????????????????????8%,??????????6.5%???????6%;???????5%???????

??????????????????,??????????6.6%,??????????????????,???,????

??????????????????????,????,?????(MLF)?0.3?????????????,?????????????(LPR)???????????0.2??????????????0.25???

?????????“??????????”

???,???????????

??,?????????,???????????,??0.5??????????(????????????????,??????????)?

?????????????????,??,??????????????????,??,??????????????????????????

???15%???????,?????????????,????????15%?

?????????????????????????????,???????????????“????????16??????????????????????”???????????????????,????????????????????,????????????????????????????,???????2026?????

????????????????,????????????3000??????????,????,?????????????60%???????????????????100%,?????????

?????????????????,????,????,?????????????????????,????????????

??????????????

??????????????,??????????????

???????????????????,???????????????????????????????????????,???????????????,??????,???

?5000??,????????????????????????????

??,??????????????,??,?????????????????????????????????,????????????????????100%,???1.75%,???????????????????????????3000???????????????,?????

????,??????????????????????,????????????????ETF??????300??????????????????????,??????????????????????????

????,???,??,???????????????????

??,?????2008???????????????????,??(TSLF),??????????,??,????????????,??????????????????????????,2020???????????

????????2019???(CBS)??????,??,??????,????????????????

“??????????”????????,???????????«?????????»????????,?????????,???????????????????????????????????????????“????”?????????????????????,?????????????????,?????????????????????,???????

??,??????????????????????,?????????????????????,?????????????,???????????

?????????????????,???????????????????,??????????????21???????????????????????????,????,?????????????????????????????????,?????????100%????? ??????????????:?? ??“??????”????

?? ??!?????“???????”?????????A???

????:1???????:???????

2???????

3????????????

4????????????

5?????????

???????????/???

???????????????,??????????

????????????????????24??,?????????????????????

??????????+???????????????????????

????????????????????,????0.5???,??????1????;??????????????????,???????????0.25??????????0.5?????

?????????,???????,7??0.2????????,??????????????????1.7%???1.5%,??????????????????,???

??,????7%,?????,???????????????8.5%???????????????????????8%,??????????6.5%???????6%;???????5%???????

??????????????????,??????????6.6%,??????????????????,???,????

??????????????????????,????,?????(MLF)?0.3?????????????,?????????????(LPR)???????????0.2??????????????0.25???

?????????“??????????”

???,???????????

??,?????????,???????????,??0.5??????????(????????????????,??????????)?

?????????????????,??,??????????????????,??,??????????????????????????

???15%???????,?????????????,????????15%?

?????????????????????????????,???????????????“????????16??????????????????????”???????????????????,????????????????????,????????????????????????????,???????2026?????

????????????????,????????????3000??????????,????,?????????????60%???????????????????100%,?????????

?????????????????,????,????,?????????????????????,????????????

??????????????

??????????????,??????????????

???????????????????,???????????????????????????????????????,???????????????,??????,???

?5000??,????????????????????????????

??,??????????????,??,?????????????????????????????????,????????????????????100%,???1.75%,???????????????????????????3000???????????????,?????

????,??????????????????????,????????????????ETF??????300??????????????????????,??????????????????????????

????,???,??,???????????????????

??,?????2008???????????????????,??(TSLF),??????????,??,????????????,??????????????????????????,2020???????????

????????2019???(CBS)??????,??,??????,????????????????

“??????????”????????,???????????«?????????»????????,?????????,???????????????????????????????????????????“????”?????????????????????,?????????????????,?????????????????????,???????

??,??????????????????????,?????????????????????,?????????????,???????????

?????????????????,???????????????????,??????????????21???????????????????????????,????,?????????????????????????????????,?????????100%????? ??????????????:??