????:1?????200??qq????:????????

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%??????????????????????? ????????????????????:???