{"id":192763,"date":"2023-06-29T18:04:23","date_gmt":"2023-06-29T10:04:23","guid":{"rendered":"https:\/\/www.hkubs.hku.hk\/?p=192763&#038;post_type=thought-leadership&#038;preview_id=192763"},"modified":"2023-06-29T18:04:23","modified_gmt":"2023-06-29T10:04:23","slug":"2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2","status":"publish","type":"thought-leadership","link":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/","title":{"rendered":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b"},"content":{"rendered":"<p>\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002<\/p>\n<h5>\u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5<\/h5>\n<p>2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002<\/p>\n<p>\u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002<\/p>\n<p>\u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002<\/p>\n<p>\u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002<\/p>\n<p>\u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002<\/p>\n<p>\u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002<\/p>\n<p>\u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002<\/p>\n<h5>\u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56<\/h5>\n<p>6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002<\/p>\n<p>\u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002<\/p>\n<p>\u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002<\/p>\n<p>\u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d<\/p>\n<h5>\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b<\/h5>\n<p>\u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002<\/p>\n<p>\u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002<\/p>\n<p>\u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002<\/p>\n<p>\u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002<\/p>\n<p>\u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u66f9\u66e6\u6708\u535a\u58eb<br \/>\n<\/strong><strong>\u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08<\/strong><\/p>\n<p><strong>\u4f55\u5fd7\u57f9\u535a\u58eb<br \/>\n<\/strong><strong>\u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08<\/strong><\/p>\n<p>\uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09<\/p>\n","protected":false},"featured_media":0,"template":"","meta":{"_lmt_disableupdate":"no","_lmt_disable":"","footnotes":""},"tags":[],"class_list":["post-192763","thought-leadership","type-thought-leadership","status-publish","hentry","leadership-topic-categories-opinions-and-speeches-sc","opinion-speeches-categories-faculty-sc"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.9 - aioseo.com -->\n\t<meta name=\"description\" content=\"\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002 \u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5 2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002 \u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002 \u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002 \u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002 \u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002 \u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002 \u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002 \u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56 6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002 \u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002 \u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002 \u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d \u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b \u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002 \u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002 \u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002 \u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002 \u66f9\u66e6\u6708\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \u4f55\u5fd7\u57f9\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"google-site-verification\" content=\"google-site-verification=MjdkluDgHpNk2vz5slbwER2Gusw2rUDQuVULMERWzLo\" \/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.9\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"HKU Business School -\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b - HKU Business School\" \/>\n\t\t<meta property=\"og:description\" content=\"\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002 \u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5 2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002 \u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002 \u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002 \u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002 \u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002 \u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002 \u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002 \u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56 6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002 \u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002 \u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002 \u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d \u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b \u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002 \u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002 \u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002 \u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002 \u66f9\u66e6\u6708\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \u4f55\u5fd7\u57f9\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09\" \/>\n\t\t<meta property=\"og:url\" content=\"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/\" \/>\n\t\t<meta property=\"article:published_time\" content=\"2023-06-29T10:04:23+00:00\" \/>\n\t\t<meta property=\"article:modified_time\" content=\"2023-06-29T10:04:23+00:00\" \/>\n\t\t<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n\t\t<meta name=\"twitter:title\" content=\"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b - HKU Business School\" \/>\n\t\t<meta name=\"twitter:description\" content=\"\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002 \u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5 2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002 \u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002 \u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002 \u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002 \u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002 \u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002 \u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002 \u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56 6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002 \u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002 \u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002 \u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d \u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b \u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002 \u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002 \u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002 \u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002 \u66f9\u66e6\u6708\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \u4f55\u5fd7\u57f9\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09\" \/>\n\t\t<script type=\"application\/ld+json\" class=\"aioseo-schema\">\n\t\t\t{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/research\\\/thought-leadership\\\/opinions-and-speeches\\\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\\\/#breadcrumblist\",\"itemListElement\":[{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/#listItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/thought-leadership\\\/opinions-and-speeches-sc\\\/#listItem\",\"name\":\"\\u5a92\\u4f53\\u62a5\\u5bfc\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/thought-leadership\\\/opinions-and-speeches-sc\\\/#listItem\",\"position\":2,\"name\":\"\\u5a92\\u4f53\\u62a5\\u5bfc\",\"item\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/thought-leadership\\\/opinions-and-speeches-sc\\\/\",\"nextItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/research\\\/thought-leadership\\\/opinions-and-speeches\\\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\\\/#listItem\",\"name\":\"2023\\u5e74\\u7b2c\\u4e8c\\u5b63\\u7f8e\\u56fd\\u8d27\\u5e01\\u653f\\u7b56\\u56de\\u987e\\u548c\\u5c55\\u671b\"},\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/#listItem\",\"name\":\"Home\"}},{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/research\\\/thought-leadership\\\/opinions-and-speeches\\\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\\\/#listItem\",\"position\":3,\"name\":\"2023\\u5e74\\u7b2c\\u4e8c\\u5b63\\u7f8e\\u56fd\\u8d27\\u5e01\\u653f\\u7b56\\u56de\\u987e\\u548c\\u5c55\\u671b\",\"previousItem\":{\"@type\":\"ListItem\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/thought-leadership\\\/opinions-and-speeches-sc\\\/#listItem\",\"name\":\"\\u5a92\\u4f53\\u62a5\\u5bfc\"}}]},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/#organization\",\"name\":\"HKU Business School\",\"url\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/research\\\/thought-leadership\\\/opinions-and-speeches\\\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\\\/#webpage\",\"url\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/research\\\/thought-leadership\\\/opinions-and-speeches\\\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\\\/\",\"name\":\"2023\\u5e74\\u7b2c\\u4e8c\\u5b63\\u7f8e\\u56fd\\u8d27\\u5e01\\u653f\\u7b56\\u56de\\u987e\\u548c\\u5c55\\u671b - HKU Business School\",\"description\":\"\\u7f8e\\u56fd\\u7684\\u901a\\u80c0\\u4ecd\\u7136\\u9ad8\\u4e8e\\u8054\\u50a8\\u5c402%\\u7684\\u957f\\u671f\\u76ee\\u6807\\uff0c\\u4fc3\\u4f7f\\u5176\\u7ef4\\u6301\\u504f\\u7d27\\u7684\\u8d27\\u5e01\\u653f\\u7b56\\u3002\\u7136\\u800c\\uff0c\\u4eca\\u5e74\\u65e9\\u524d\\u4e00\\u8fde\\u4e32\\u94f6\\u884c\\u5371\\u673a\\u8fdb\\u4e00\\u6b65\\u62d6\\u7d2f\\u7f8e\\u56fd\\u7ecf\\u6d4e\\u8868\\u73b0\\uff0c\\u5e76\\u4f7f\\u8054\\u50a8\\u5c40\\u653f\\u7b56\\u8c03\\u6574\\u53d8\\u5f97\\u66f4\\u4e3a\\u590d\\u6742\\u3002\\u672c\\u6587\\u627c\\u8981\\u9610\\u8ff0\\u672c\\u5e74\\u7b2c\\u4e8c\\u5b63\\u7f8e\\u56fd\\u7ecf\\u6d4e\\u8868\\u73b0\\u548c\\u8d27\\u5e01\\u653f\\u7b56\\u3002 \\u5f53\\u524d\\u7f8e\\u56fd\\u7ecf\\u6d4e\\u60c5\\u51b5 2023\\u5e74\\u7f8e\\u56fd\\u901a\\u80c0\\u867d\\u6301\\u7eed\\u653e\\u7f13\\uff0c\\u4f46\\u4ecd\\u663e\\u7740\\u9ad8\\u4e8e\\u8054\\u50a8\\u5c402%\\u7684\\u957f\\u671f\\u76ee\\u6807\\u3002\\u622a\\u81f3\\u4eca\\u5e744\\u6708\\uff0c\\u4e2a\\u4eba\\u6d88\\u8d39\\u5f00\\u652f\\uff08PCE\\uff09\\u7269\\u4ef7\\u6307\\u6570\\u4e0e\\u6838\\u5fc3PCE\\u7269\\u4ef7\\u6307\\u6570\\u5206\\u522b\\u53474.4%\\u4e0e4.7%\\u3002 \\u7f8e\\u56fd\\u52b3\\u5de5\\u5e02\\u573a\\u4f9d\\u7136\\u504f\\u7d27\\uff0c\\u4eca\\u5e745\\u6708\\u5931\\u4e1a\\u7387\\u5904\\u4e8e3.7%\\u7684\\u4f4e\\u6c34\\u5e73\\u3002\\u7531\\u4e8e\\u52b3\\u52a8\\u529b\\u4f9b\\u4e0d\\u5e94\\u6c42\\uff0c\\u5de5\\u8d44\\u4e0e\\u7269\\u4ef7\\uff08\\u5c24\\u5176\\u662f\\u670d\\u52a1\\u4e1a\\u7b49\\u52b3\\u5de5\\u5bc6\\u96c6\\u884c\\u4e1a\\uff09\\u4e0a\\u6da8\\u538b\\u529b\\u6301\\u7eed\\u3002\\u540c\\u65f6\\uff0c\\u4eca\\u5e745\\u6708\\u7684\\u52b3\\u52a8\\u4eba\\u53e3\\u53c2\\u4e0e\\u7387\\u5df2\\u56de\\u5230\\u76f8\\u5f53\\u4e8e\\u75ab\\u524d\\u6c34\\u5e73\\u768462.6%\\uff0c\\u800c\\u975e\\u519c\\u5c31\\u4e1a\\u4eba\\u6570\\u5219\\u4e0a\\u5347\\u81f31.56\\u4ebf\\u4eba\\u3002 \\u7531\\u4e8e\\u7d27\\u7f29\\u8d27\\u5e01\\u653f\\u7b56\\u5bfc\\u81f4\\u6309\\u63ed\\u5229\\u7387\\u4e0a\\u626c\\uff0c\\u7f8e\\u56fd\\u697c\\u5e02\\u6301\\u7eed\\u4f4e\\u8ff7\\u3002\\u540c\\u65f6\\uff0c\\u5229\\u7387\\u6500\\u5347\\u589e\\u52a0\\u4f01\\u4e1a\\u8425\\u8fd0\\u6210\\u672c\\uff0c\\u52a0\\u4e0a\\u5e02\\u573a\\u5bf9\\u7ecf\\u6d4e\\u524d\\u666f\\u8f6c\\u8d8b\\u9eef\\u6de1\\u7684\\u5fe7\\u8651\\uff0c\\u7686\\u5bfc\\u81f4\\u4f01\\u4e1a\\u56fa\\u5b9a\\u6295\\u8d44\\u7f29\\u51cf\\u3002\\u7f8e\\u56fd\\u4eca\\u5e74\\u7b2c\\u4e00\\u5b63\\u7684\\u5b9e\\u8d28\\u672c\\u5730\\u751f\\u4ea7\\u603b\\u503c\\u6309\\u5e74\\u589e\\u957f1.6%\\uff0c\\u4e00\\u5982\\u9884\\u671f\\u5347\\u5e45\\u504f\\u4f4e\\u3002\\u5e02\\u573a\\u53ca\\u8054\\u50a8\\u5c40\\u5747\\u8ba4\\u4e3a\\u4eca\\u5e74\\u7a0d\\u540e\\u65f6\\u95f4\\u6216\\u4f1a\\u51fa\\u73b0\\u300c\\u6e29\\u548c\\u8870\\u9000\\u300d\\u3002 \\u4eca\\u5e74\\u7f8e\\u56fd\\u94f6\\u884c\\u5371\\u673a\\u59cb\\u4e8e\\u94f6\\u95e8\\u94f6\\u884c\\uff08Silvergate Bank\\uff093\\u67088\\u65e5\\u5173\\u95ed\\u4e1a\\u52a1\\u3002\\u540c\\u65e5\\uff0c\\u4e3a\\u7b79\\u96c6\\u73b0\\u91d1\\u5e94\\u4ed8\\u5b58\\u6237\\u63d0\\u6b3e\\uff0c\\u77fd\\u8c37\\u94f6\\u884c\\u5ba3\\u5e03\\u51fa\\u552e\\u8bc1\\u5238\\u548c\\u4e3e\\u884c\\u7d27\\u6025\\u80a1\\u7968\\u53d1\\u552e\\uff0c\\u6b64\\u4e3e\\u5f15\\u81f4\\u6050\\u614c\\u6027\\u6324\\u63d0\\uff0c\\u76d1\\u7ba1\\u673a\\u67843\\u670810\\u65e5\\u4ee5\\u6d41\\u52a8\\u6027\\u4e0d\\u8db3\\u548c\\u8d44\\u4e0d\\u62b5\\u503a\\u4e3a\\u7531\\uff0c\\u5ba3\\u5e03\\u63a5\\u7ba1\\u77fd\\u8c37\\u94f6\\u884c\\u3002\\u7b80\\u800c\\u8a00\\u4e4b\\uff0c\\u77fd\\u8c37\\u94f6\\u884c\\u5012\\u95ed\\u4e3b\\u56e0\\u5728\\u4e8e\\u5176\\u672a\\u80fd\\u6709\\u6548\\u7ba1\\u63a7\\u5229\\u7387\\u98ce\\u9669\\u2500\\u2500\\u5e02\\u573a\\u5229\\u7387\\u5728\\u8fc7\\u53bb\\u4e00\\u5e74\\u591a\\u56e0\\u8054\\u50a8\\u5c40\\u5b9e\\u65bd\\u7d27\\u7f29\\u8d27\\u5e01\\u653f\\u7b56\\u800c\\u8d8b\\u5347\\uff0c\\u56e0\\u800c\\u5728\\u77fd\\u8c37\\u94f6\\u884c\\u51fa\\u552e\\u6240\\u6301\\u672a\\u5230\\u671f\\u56fd\\u5e93\\u503a\\u5238\\u65f6\\u5f15\\u53d1\\u5927\\u989d\\u4e8f\\u635f\\uff0c\\u6700\\u7ec8\\u62db\\u81f4\\u6324\\u63d0\\u30023\\u670812\\u65e5\\uff0c\\u540c\\u6837\\u53d7\\u6324\\u63d0\\u5f71\\u54cd\\u7684Signature Bank\\u4ea6\\u88ab\\u76d1\\u7ba1\\u673a\\u6784\\u5173\\u95ed\\u3002\\u77fd\\u8c37\\u94f6\\u884c\\u548cSignature Bank\\u662f\\u5176\\u65f6\\u7f8e\\u56fd\\u5386\\u53f2\\u4e0a\\u7b2c\\u4e8c\\u5927\\u548c\\u7b2c\\u4e09\\u5927\\u94f6\\u884c\\u7834\\u4ea7\\u4e8b\\u4ef6\\u3002 \\u4e3a\\u7a33\\u4f4f\\u94f6\\u884c\\u4e1a\\uff0c\\u4ee5\\u514d\\u5371\\u673a\\u8513\\u5ef6\\u81f3\\u5176\\u4ed6\\u91d1\\u878d\\u673a\\u6784\\uff0c\\u8054\\u90a6\\u5b58\\u6b3e\\u4fdd\\u9669\\u516c\\u53f8\\u5ba3\\u5e03\\u6240\\u6709\\u5b58\\u6237\\uff08\\u5305\\u62ec\\u539f\\u672c\\u65e0\\u53d7\\u4fdd\\u9669\\u4fdd\\u969c\\u7684\\u5b58\\u6b3e\\u8005\\uff09\\u5747\\u53d7\\u4fdd\\u969c\\u3002\\u6807\\u51c6\\u666e\\u5c14500\\u6307\\u6570\\u7b49\\u5e02\\u573a\\u6307\\u6807\\u6b62\\u8dcc\\u56de\\u5347\\uff0c\\u663e\\u793a\\u8fd9\\u653f\\u7b56\\u6709\\u6548\\u7ef4\\u6301\\u94f6\\u884c\\u4e1a\\u7684\\u7a33\\u5b9a\\u53ca\\u516c\\u4f17\\u5bf9\\u94f6\\u884c\\u4e1a\\u7684\\u4fe1\\u5fc3\\u3002\\u81f35\\u67081\\u65e5\\uff0c\\u8d44\\u4ea7\\u8fbe2290\\u4ebf\\u7f8e\\u5143\\u7684\\u7b2c\\u4e00\\u5171\\u548c\\u94f6\\u884c\\u4ea6\\u88ab\\u76d1\\u7ba1\\u673a\\u6784\\u63a5\\u7ba1\\uff0c\\u94f6\\u884c\\u5b58\\u6b3e\\u53ca\\u8d44\\u4ea7\\u6089\\u6570\\u552e\\u4e88\\u6469\\u6839\\u5927\\u901a\\u3002\\u6309\\u8d44\\u4ea7\\u603b\\u503c\\u8ba1\\u7b97\\uff0c2023\\u5e74\\u94f6\\u884c\\u4e1a\\u5012\\u95ed\\u6f6e\\u7684\\u4e25\\u91cd\\u7a0b\\u5ea6\\u4e3a\\u81ea2001\\u5e74\\u4ee5\\u6765\\u7684\\u5386\\u53f2\\u65b0\\u9ad8\\u3002 \\u7eb5\\u4f7f\\u5728\\u94f6\\u884c\\u5371\\u673a\\u548c\\u7ecf\\u6d4e\\u6216\\u73b0\\u300c\\u6e29\\u548c\\u8870\\u9000\\u300d\\u7684\\u9634\\u973e\\u4e0b\\uff0c\\u7f8e\\u56fd\\u80a1\\u5e02\\u5e74\\u521d\\u81f3\\u4eca\\u4f9d\\u7136\\u8868\\u73b0\\u51fa\\u8272\\uff0c\\u671f\\u5185\\u6807\\u51c6\\u666e\\u5c14500\\u6307\\u6570\\u5347\\u5e45\\u9ad8\\u8fbe13%\\u3002 \\u4e3a\\u628a\\u901a\\u80c0\\u538b\\u4f4e\\u81f32%\\u7684\\u957f\\u671f\\u76ee\\u6807\\uff0c\\u8054\\u50a8\\u5c40\\u4ece2022\\u5e743\\u6708\\u8d77\\u5c06\\u8054\\u90a6\\u57fa\\u91d1\\u5229\\u7387\\u76ee\\u6807\\u533a\\u95f4\\u4ece\\u63a5\\u8fd1\\u96f6\\u7684\\u6c34\\u5e73\\u9010\\u6b65\\u8c03\\u9ad8\\uff1b\\u4eca\\u5e742\\u6708\\u8bae\\u606f\\u540e\\u5ba3\\u5e03\\u628a\\u76ee\\u6807\\u533a\\u95f4\\u4e0a\\u8c03\\u5230\\u4ecb\\u4e4e4.5\\u5398\\u81f34.75\\u5398\\u30023\\u6708\\u94f6\\u884c\\u5371\\u673a\\u4e4b\\u65f6\\uff0c\\u8054\\u50a8\\u5c40\\u7ee7\\u7eed\\u63d0\\u5347\\u8054\\u90a6\\u57fa\\u91d1\\u5229\\u7387\\u76ee\\u6807\\u533a\\u95f4\\u5230\\u4ecb\\u4e4e4.75\\u5398\\u81f35\\u5398\\uff0c\\u4f46\\u5c06\\u300c\\u9884\\u671f\\u672a\\u6765\\u8fd8\\u9700\\u8981\\u52a0\\u606f\\u300d\\u4e4b\\u8bf4\\u4e2d\\u300c\\u8fd8\\u9700\\u300d\\u5b57\\u773c\\u6539\\u4e3a\\u300c\\u6216\\u9700\\u300d\\u30025\\u6708\\u65f6\\uff0c\\u968f\\u7740\\u94f6\\u884c\\u5371\\u673a\\u7f13\\u548c\\uff0c\\u8054\\u50a8\\u5c40\\u5c06\\u8054\\u90a6\\u57fa\\u91d1\\u5229\\u7387\\u76ee\\u6807\\u533a\\u95f4\\u518d\\u63d0\\u5347\\u5230\\u4ecb\\u4e4e5\\u5398\\u81f35.25\\u5398\\u3002\\u57286\\u6708\\u4e3e\\u884c\\u7684\\u6700\\u8fd1\\u4e00\\u6b21\\u4f1a\\u8bae\\uff0c\\u8054\\u50a8\\u5c40\\u9996\\u6b21\\u7ef4\\u6301\\u8054\\u90a6\\u57fa\\u91d1\\u5229\\u7387\\u76ee\\u6807\\u533a\\u95f4\\u4e0d\\u53d8\\uff0c\\u540c\\u65f6\\u8868\\u660e\\u9884\\u671f\\u672a\\u6765\\u4ecd\\u5c06\\u6301\\u7eed\\u52a0\\u606f\\u3002\\u8054\\u50a8\\u5c40\\u6210\\u5458\\u8ba4\\u4e3a\\uff0c\\u5047\\u8bbe\\u7f8e\\u56fd\\u7ecf\\u6d4e\\u53d1\\u5c55\\u6b65\\u4f10\\u4e00\\u5982\\u9884\\u671f\\uff0c\\u52192023\\u5e74\\u5e74\\u5e95\\u9002\\u5f53\\u7684\\u8054\\u90a6\\u57fa\\u91d1\\u5229\\u7387\\u4e2d\\u4f4d\\u6570\\u5e94\\u4e3a5.6\\u5398\\u3002 \\u5f53\\u524d\\u7f8e\\u56fd\\u8d27\\u5e01\\u653f\\u7b56 6\\u6708\\u8054\\u50a8\\u5c40\\u6682\\u505c\\u52a0\\u606f\\u7684\\u4e00\\u5927\\u539f\\u56e0\\u663e\\u7136\\u6e90\\u4e8e\\u4eca\\u5e74\\u7684\\u94f6\\u884c\\u5371\\u673a\\u3002\\u90e8\\u5206\\u4e2d\\u578b\\u94f6\\u884c\\u53d1\\u73b0\\u6709\\u5fc5\\u8981\\u589e\\u52a0\\u8d44\\u91d1\\u6d41\\u52a8\\u6027\\uff0c\\u6545\\u6b64\\u5bf9\\u5bb6\\u5ead\\u53ca\\u4f01\\u4e1a\\u5ba2\\u6237\\u4e25\\u5b88\\u8c28\\u614e\\u8d37\\u6b3e\\u539f\\u5219\\uff0c\\u8fd9\\u4ece\\u8fd1\\u671f\\u53d1\\u8868\\u7684\\u9ad8\\u7ea7\\u8d37\\u6b3e\\u4e13\\u5458\\u610f\\u89c1\\u8c03\\u67e5\\uff08SLOOS\\uff09\\u7ed3\\u679c\\u53ef\\u89c1\\u4e00\\u6591\\u3002\\u94f6\\u884c\\u7684\\u56f0\\u5883\\u4fc3\\u6210\\u5176\\u8fdb\\u4e00\\u6b65\\u6536\\u7d27\\u5bf9\\u5bb6\\u5ead\\u53ca\\u4f01\\u4e1a\\u7684\\u4fe1\\u8d37\\uff0c\\u5e7f\\u4e49\\u800c\\u8a00\\uff0c\\u4fe1\\u8d37\\u7d27\\u7f29\\u4ea6\\u6709\\u52a9\\u4e8e\\u538b\\u4f4e\\u901a\\u80c0\\uff0c\\u8ddf\\u63d0\\u5347\\u5229\\u7387\\u7684\\u6548\\u679c\\u76f8\\u4f3c\\u3002 \\u6b64\\u5916\\uff0c\\u8fd9\\u6b21\\u94f6\\u884c\\u5371\\u673a\\u4ea6\\u589e\\u52a0\\u8054\\u50a8\\u5c40\\u51b3\\u7b56\\u4e0a\\u7684\\u4e0d\\u786e\\u5b9a\\u6027\\uff0c\\u4f8b\\u5982\\u94f6\\u884c\\u56e0\\u6b64\\u6536\\u7d27\\u8d37\\u6b3e\\u7684\\u7a0b\\u5ea6\\u4f1a\\u6709\\u591a\\u5927\\uff1f\\u6536\\u7d27\\u8d37\\u6b3e\\u4f1a\\u6301\\u7eed\\u591a\\u4e45\\uff1f\\u94f6\\u884c\\u5371\\u673a\\u5bf9\\u8d37\\u6b3e\\u7684\\u5f71\\u54cd\\u662f\\u5426\\u8fd8\\u6709\\u6ede\\u540e\\u6548\\u5e94\\uff1f\\u5bf9\\u62db\\u8058\\u65b9\\u9762\\u53c8\\u6709\\u4f55\\u5f71\\u54cd\\uff1f\\u6b64\\u6b21\\u94f6\\u884c\\u5371\\u673a\\u8fde\\u540c\\u5f53\\u524d\\u8d27\\u5e01\\u653f\\u7b56\\u4f1a\\u4ea7\\u751f\\u600e\\u6837\\u7684\\u534f\\u540c\\u6548\\u5e94\\uff1f\\u6240\\u8c13\\u300c\\u4ee5\\u4e0d\\u53d8\\u5e94\\u4e07\\u53d8\\u300d\\uff0c\\u8054\\u50a8\\u5c40\\u6682\\u505c\\u8fdb\\u4e00\\u6b65\\u52a0\\u606f\\uff0c\\u662f\\u5728\\u7b49\\u5f85\\u66f4\\u591a\\u8baf\\u606f\\uff0c\\u4ee5\\u8bc4\\u4f30\\u7ecf\\u6d4e\\u53d1\\u5c55\\u53ca\\u901a\\u80c0\\u524d\\u666f\\uff0c\\u4ece\\u800c\\u66f4\\u7cbe\\u51c6\\u5730\\u5224\\u65ad\\u52a0\\u606f\\u65f6\\u673a\\u3002 \\u81f3\\u4e8e\\u975e\\u5e38\\u89c4\\u8d27\\u5e01\\u653f\\u7b56\\uff0c\\u8054\\u50a8\\u5c40\\u7ee7\\u7eed\\u7f29\\u51cf\\u5176\\u8d44\\u4ea7\\u8d1f\\u503a\\u8868\\u89c4\\u6a21\\u3002\\u81ea2022\\u5e746\\u67081\\u65e5\\u8d77\\uff0c\\u8054\\u50a8\\u5c40\\u5c06\\u516c\\u5f00\\u5e02\\u573a\\u64cd\\u4f5c\\u8d26\\u6237\\u4e2d\\u7684\\u8bc1\\u5238\\u672c\\u91d1\\uff0c\\u4ec5\\u628a\\u8d85\\u51fa\\u6bcf\\u6708\\u89c4\\u5b9a\\u4e0a\\u9650\\u7684\\u90e8\\u5206\\u4f5c\\u518d\\u6295\\u8d44\\u3002 \\u867d\\u7136\\u8054\\u50a8\\u5c40\\u5728\\u672c\\u5e746\\u6708\\u8bae\\u606f\\u540e\\u6682\\u505c\\u52a0\\u606f\\uff0c\\u4f46\\u7f29\\u8868\\u64cd\\u4f5c\\u4ecd\\u7ee7\\u7eed\\u8fdb\\u884c\\u3002\\u503c\\u5f97\\u4e00\\u63d0\\u7684\\u662f\\uff0c\\u4e3a\\u5e94\\u5bf93\\u6708\\u65f6\\u7684\\u94f6\\u884c\\u5371\\u673a\\uff0c\\u8054\\u50a8\\u5c40\\u5f53\\u6708\\u66fe\\u4e00\\u5ea6\\u5927\\u5e45\\u6269\\u8868\\uff0c\\u968f\\u5373\\u53c8\\u56de\\u5f52\\u7f29\\u8868\\u3002\\u5f53\\u65f6\\u8be5\\u5c40\\u4e3b\\u5e2d\\u89e3\\u91ca\\uff0c\\u7a81\\u7136\\u6269\\u8868\\u300c\\u5411\\u94f6\\u884c\\u63d0\\u4f9b\\u4e34\\u65f6\\u8d37\\u6b3e\\u5e76\\u975e\\u4e3a\\u4e86\\u76f4\\u63a5\\u6539\\u53d8\\u8d27\\u5e01\\u653f\\u7b56\\u7acb\\u573a\\uff0c\\u800c\\u662f\\u4e3a\\u4e86\\u5e94\\u5bf9\\u8fd1\\u671f\\u94f6\\u884c\\u4e1a\\u5728\\u538b\\u529b\\u4e0b\\u5bf9\\u6d41\\u52a8\\u8d44\\u91d1\\u7684\\u7279\\u6b8a\\u9700\\u6c42\\u3002\\u300d \\u7f8e\\u56fd\\u8d27\\u5e01\\u653f\\u7b56\\u5c55\\u671b \\u8054\\u50a8\\u5c40\\u81ea\\u53bb\\u5e743\\u670810\\u6b21\\u52a0\\u606f\\uff0c\\u5c06\\u8054\\u90a6\\u57fa\\u91d1\\u5229\\u7387\\u76ee\\u6807\\u533a\\u95f4\\u63d0\\u5347\\u5230\\u4ecb\\u4e4e5\\u5398\\u81f35.25\\u5398\\uff0c\\u901f\\u5ea6\\u4e3a\\u6570\\u5341\\u5e74\\u4e4b\\u6700\\u3002\\u6839\\u636e\\u8fc4\\u4eca\\u4e3a\\u6b62\\u7684\\u7ecf\\u6d4e\\u6570\\u636e\\u548c\\u8d44\\u6599\\uff0c\\u7b14\\u8005\\u4eec\\u8ba4\\u4e3a\\u8054\\u50a8\\u5c40\\u6682\\u7f13\\u52a0\\u606f\\u5b9e\\u5c5e\\u5ba1\\u614e\\u800c\\u5177\\u7b56\\u7565\\u6027\\u4e4b\\u4e3e\\uff0c\\u5e76\\u4e14\\u9884\\u671f\\u4eca\\u5e74\\u4f59\\u4e0b\\u65f6\\u95f4\\u5927\\u6982\\u4e0d\\u4f1a\\u518d\\u5927\\u5e45\\u52a0\\u606f\\uff0c\\u539f\\u56e0\\u5305\\u62ec\\u4e0b\\u5217\\u56e0\\u7d20\\u3002 \\u4e00\\u65b9\\u9762\\uff0c\\u5c3d\\u7ba1\\u76ee\\u524d\\u7f8e\\u56fd\\u901a\\u80c0\\u4ecd\\u9ad8\\u4e8e2%\\u957f\\u671f\\u76ee\\u6807\\uff0c\\u4f46\\u7269\\u4ef7\\u538b\\u529b\\u5df2\\u6e10\\u89c1\\u7f13\\u548c\\u3002\\u540c\\u65f6\\u8054\\u50a8\\u5c40\\u9884\\u671f\\u52b3\\u5de5\\u5e02\\u573a\\u4f9b\\u5e94\\u77ed\\u7f3a\\u7684\\u72b6\\u51b5\\u5c06\\u7eed\\u89c1\\u6539\\u5584\\uff0c\\u5f53\\u52b3\\u5de5\\u5e02\\u573a\\u4f9b\\u6c42\\u9010\\u6b65\\u6062\\u590d\\u5e73\\u8861\\uff0c\\u5176\\u5bf9\\u5de5\\u8d44\\u4e0e\\u7269\\u4ef7\\u7684\\u538b\\u529b\\uff08\\u5c24\\u5176\\u662f\\u670d\\u52a1\\u4e1a\\uff09\\u4ea6\\u4f1a\\u968f\\u4e4b\\u964d\\u4f4e\\u3002\\u53e6\\u5916\\uff0c\\u5404\\u884c\\u5404\\u4e1a\\u7684\\u4f9b\\u5e94\\u8005\\u9010\\u6e10\\u9002\\u5e94\\u75ab\\u540e\\u5168\\u7403\\u4f9b\\u5e94\\u94fe\\u65b0\\u5f62\\u52bf\\uff0c\\u901a\\u80c0\\u538b\\u529b\\u5c06\\u4f34\\u968f\\u4f9b\\u6c42\\u7f3a\\u53e3\\u6536\\u7a84\\u800c\\u76f8\\u5e94\\u51cf\\u8f7b\\u3002\\u5e02\\u573a\\u4ef7\\u683c\\u5bf9\\u8d27\\u5e01\\u653f\\u7b56\\u7684\\u53cd\\u5e94\\u867d\\u4e0d\\u514d\\u6ede\\u540e\\uff0c\\u4f46\\u5df2\\u5f00\\u59cb\\u4f5c\\u51fa\\u8c03\\u6574\\uff0c\\u4f8b\\u5982\\u6700\\u8fd1\\u7f8e\\u56fd\\u4e8c\\u624b\\u8f66\\u5e02\\u573a\\u5448\\u73b0\\u4ef7\\u683c\\u4e0b\\u8dcc\\uff0c\\u53ef\\u80fd\\u90e8\\u5206\\u53cd\\u6620\\u65e9\\u524d\\u7d27\\u7f29\\u8d27\\u5e01\\u653f\\u7b56\\u7684\\u6548\\u5e94\\u3002 \\u53e6\\u4e00\\u65b9\\u9762\\uff0c\\u82e5\\u8054\\u50a8\\u5c40\\u7ef4\\u6301\\u5927\\u5e45\\u52a0\\u606f\\uff0c\\u4f1a\\u589e\\u52a0\\u7f8e\\u56fd\\u7ecf\\u6d4e\\u300c\\u786c\\u7740\\u9646\\u300d\\u7684\\u98ce\\u9669\\u3002\\u8054\\u50a8\\u5c40\\u529b\\u6c42\\u5728\\u4e0d\\u5f15\\u53d1\\u4e25\\u91cd\\u7ecf\\u6d4e\\u8870\\u9000\\u7684\\u60c5\\u51b5\\u4e0b\\u7a33\\u5b9a\\u7269\\u4ef7\\uff0c\\u5c24\\u5176\\u5728\\u4eca\\u5e74\\u7684\\u94f6\\u884c\\u5371\\u673a\\u66b4\\u9732\\u51fa\\u94f6\\u884c\\u4e1a\\u754c\\u5728\\u5927\\u5e45\\u52a0\\u606f\\u653f\\u7b56\\u4e0b\\u7684\\u8f6f\\u808b\\u540e\\uff0c\\u91d1\\u878d\\u7a33\\u5b9a\\u6027\\u6210\\u4e3a\\u8054\\u50a8\\u5c40\\u653f\\u7b56\\u63aa\\u65bd\\u7684\\u5173\\u952e\\u8003\\u8651\\u56e0\\u7d20\\u4e4b\\u4e00\\uff0c\\u4ee5\\u907f\\u514d\\u5f15\\u53d1\\u91d1\\u878d\\u5371\\u673a\\u3002 \\u53e6\\u5916\\uff0c\\u5c3d\\u7ba1\\u503a\\u52a1\\u4e0a\\u9650\\u6cd5\\u6848\\u6700\\u8fd1\\u83b7\\u5f97\\u901a\\u8fc7\\uff0c\\u7f8e\\u56fd\\u653f\\u5e9c\\u6682\\u65e0\\u503a\\u52a1\\u8fdd\\u7ea6\\u4e4b\\u865e\\uff0c\\u800c\\u8d22\\u653f\\u90e8\\u4ecd\\u59cb\\u7ec8\\u987b\\u4e3a\\u8054\\u50a8\\u5c40\\u7684\\u4e3b\\u8981\\u652f\\u4ed8\\u8d26\\u6237\\u586b\\u6570\\u3002\\u82e5\\u8d22\\u653f\\u90e8\\u56e0\\u6b64\\u53d1\\u884c\\u65b0\\u56fd\\u503a\\uff0c\\u6216\\u900f\\u8fc7\\u6324\\u51fa\\u6548\\u5e94\\u51cf\\u5c11\\u5e02\\u573a\\u4e0a\\u7684\\u6d41\\u52a8\\u8d44\\u91d1\\uff0c\\u5bf9\\u94f6\\u884c\\u4f53\\u7cfb\\u3001\\u4f01\\u4e1a\\u53ca\\u5bb6\\u5ead\\u52bf\\u6301\\u7eed\\u6784\\u6210\\u6311\\u6218\\u3002\\u4e0d\\u53ef\\u4e0d\\u5bdf\\u7684\\u662f\\uff0c\\u8054\\u50a8\\u5c40\\u5927\\u5e45\\u7f29\\u8868\\u7684\\u8ba1\\u5212\\u5c1a\\u5728\\u8fdb\\u884c\\u4e2d\\uff0c\\u5176\\u5bf9\\u7ecf\\u6d4e\\u7684\\u7d27\\u7f29\\u6548\\u5e94\\u4f9d\\u7136\\u6301\\u7eed\\u3002 \\u6700\\u540e\\uff0c\\u8d27\\u5e01\\u653f\\u7b56\\u5de5\\u5177\\u65e0\\u7591\\u5b58\\u5728\\u5176\\u5c40\\u9650\\u6027\\u3002\\u672c\\u8f6e\\u7f8e\\u56fd\\u9ad8\\u901a\\u80c0\\u4e3b\\u56e0\\u5728\\u4e8e\\u5b8f\\u89c2\\u7ecf\\u6d4e\\u4f9b\\u6c42\\u5931\\u8861\\u3002\\u8981\\u4f7f\\u901a\\u80c0\\u91cd\\u8fd4\\u76ee\\u6807\\u6c34\\u5e73\\uff0c\\u603b\\u4f53\\u4f9b\\u5e94\\u5fc5\\u987b\\u8db3\\u4ee5\\u5e94\\u4ed8\\u603b\\u4f53\\u9700\\u6c42\\u3002\\u7d27\\u7f29\\u8d27\\u5e01\\u653f\\u7b56\\u662f\\u9700\\u6c42\\u7ba1\\u7406\\u5de5\\u5177\\uff0c\\u4e3b\\u8981\\u900f\\u8fc7\\u9650\\u5236\\u9700\\u6c42\\u4ee5\\u904f\\u6b62\\u901a\\u80c0\\uff0c\\u5374\\u65e0\\u6cd5\\u6709\\u6548\\u89e3\\u51b3\\u5f53\\u524d\\u79cd\\u79cd\\u4f9b\\u5e94\\u95ee\\u9898\\uff0c\\u4f8b\\u5982\\u56fd\\u5185\\u5de5\\u4eba\\u77ed\\u7f3a\\u3001\\u5730\\u7f18\\u653f\\u5c40\\u4e0d\\u7a33\\u5b9a\\u3001\\u5168\\u7403\\u4f9b\\u5e94\\u94fe\\u91cd\\u5851\\uff0c\\u4ee5\\u53ca\\u6cb9\\u4ef7\\u66b4\\u6da8\\u7b49\\u3002\\u4ee5\\u4e0a\\u56e0\\u7d20\\u5747\\u5bf9\\u7f8e\\u56fd\\u7ecf\\u6d4e\\u548c\\u91d1\\u878d\\u53d1\\u5c55\\u81f3\\u5173\\u91cd\\u8981\\uff0c\\u4ea6\\u5c06\\u5f71\\u54cd\\u8054\\u50a8\\u5c40\\u672a\\u6765\\u653f\\u7b56\\u8d70\\u5411\\u3002 \\u66f9\\u66e6\\u6708\\u535a\\u58eb \\u6e2f\\u5927\\u7ecf\\u7ba1\\u5b66\\u9662\\u7ecf\\u6d4e\\u5b66\\u8bb2\\u5e08 \\u4f55\\u5fd7\\u57f9\\u535a\\u58eb \\u6e2f\\u5927\\u7ecf\\u7ba1\\u5b66\\u9662\\u7ecf\\u6d4e\\u5b66\\u8bb2\\u5e08 \\uff08\\u672c\\u6587\\u540c\\u65f6\\u4e8e\\u4e8c\\u96f6\\u4e8c\\u4e09\\u5e74\\u516d\\u6708\\u4e8c\\u5341\\u516b\\u65e5\\u8f7d\\u4e8e\\u300a\\u4fe1\\u62a5\\u300b\\u300c\\u9f99\\u864e\\u5c71\\u4e0b\\u300d\\u4e13\\u680f\\uff09\",\"inLanguage\":\"zh-CN\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/#website\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/research\\\/thought-leadership\\\/opinions-and-speeches\\\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\\\/#breadcrumblist\"},\"datePublished\":\"2023-06-29T18:04:23+08:00\",\"dateModified\":\"2023-06-29T18:04:23+08:00\"},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/#website\",\"url\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/\",\"name\":\"HKU Business School\",\"inLanguage\":\"zh-CN\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.hkubs.hku.hk\\\/sc\\\/#organization\"}}]}\n\t\t<\/script>\n\t\t<!-- All in One SEO -->\n\n","aioseo_head_json":{"title":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b - HKU Business School","description":"\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002 \u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5 2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002 \u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002 \u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002 \u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002 \u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002 \u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002 \u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002 \u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56 6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002 \u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002 \u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002 \u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d \u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b \u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002 \u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002 \u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002 \u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002 \u66f9\u66e6\u6708\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \u4f55\u5fd7\u57f9\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09","canonical_url":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/","robots":"max-image-preview:large","keywords":"","webmasterTools":{"google-site-verification":"google-site-verification=MjdkluDgHpNk2vz5slbwER2Gusw2rUDQuVULMERWzLo","miscellaneous":""},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"BreadcrumbList","@id":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/#breadcrumblist","itemListElement":[{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/sc\/#listItem","position":1,"name":"Home","item":"https:\/\/www.hkubs.hku.hk\/sc\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/sc\/thought-leadership\/opinions-and-speeches-sc\/#listItem","name":"\u5a92\u4f53\u62a5\u5bfc"}},{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/sc\/thought-leadership\/opinions-and-speeches-sc\/#listItem","position":2,"name":"\u5a92\u4f53\u62a5\u5bfc","item":"https:\/\/www.hkubs.hku.hk\/sc\/thought-leadership\/opinions-and-speeches-sc\/","nextItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/#listItem","name":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b"},"previousItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/sc\/#listItem","name":"Home"}},{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/#listItem","position":3,"name":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b","previousItem":{"@type":"ListItem","@id":"https:\/\/www.hkubs.hku.hk\/sc\/thought-leadership\/opinions-and-speeches-sc\/#listItem","name":"\u5a92\u4f53\u62a5\u5bfc"}}]},{"@type":"Organization","@id":"https:\/\/www.hkubs.hku.hk\/sc\/#organization","name":"HKU Business School","url":"https:\/\/www.hkubs.hku.hk\/sc\/"},{"@type":"WebPage","@id":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/#webpage","url":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/","name":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b - HKU Business School","description":"\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002 \u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5 2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002 \u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002 \u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002 \u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002 \u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002 \u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002 \u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002 \u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56 6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002 \u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002 \u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002 \u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d \u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b \u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002 \u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002 \u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002 \u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002 \u66f9\u66e6\u6708\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \u4f55\u5fd7\u57f9\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09","inLanguage":"zh-CN","isPartOf":{"@id":"https:\/\/www.hkubs.hku.hk\/sc\/#website"},"breadcrumb":{"@id":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/#breadcrumblist"},"datePublished":"2023-06-29T18:04:23+08:00","dateModified":"2023-06-29T18:04:23+08:00"},{"@type":"WebSite","@id":"https:\/\/www.hkubs.hku.hk\/sc\/#website","url":"https:\/\/www.hkubs.hku.hk\/sc\/","name":"HKU Business School","inLanguage":"zh-CN","publisher":{"@id":"https:\/\/www.hkubs.hku.hk\/sc\/#organization"}}]},"og:locale":"en_US","og:site_name":"HKU Business School -","og:type":"article","og:title":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b - HKU Business School","og:description":"\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002 \u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5 2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002 \u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002 \u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002 \u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002 \u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002 \u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002 \u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002 \u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56 6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002 \u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002 \u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002 \u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d \u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b \u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002 \u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002 \u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002 \u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002 \u66f9\u66e6\u6708\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \u4f55\u5fd7\u57f9\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09","og:url":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/","article:published_time":"2023-06-29T10:04:23+00:00","article:modified_time":"2023-06-29T10:04:23+00:00","twitter:card":"summary_large_image","twitter:title":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b - HKU Business School","twitter:description":"\u7f8e\u56fd\u7684\u901a\u80c0\u4ecd\u7136\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\uff0c\u4fc3\u4f7f\u5176\u7ef4\u6301\u504f\u7d27\u7684\u8d27\u5e01\u653f\u7b56\u3002\u7136\u800c\uff0c\u4eca\u5e74\u65e9\u524d\u4e00\u8fde\u4e32\u94f6\u884c\u5371\u673a\u8fdb\u4e00\u6b65\u62d6\u7d2f\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\uff0c\u5e76\u4f7f\u8054\u50a8\u5c40\u653f\u7b56\u8c03\u6574\u53d8\u5f97\u66f4\u4e3a\u590d\u6742\u3002\u672c\u6587\u627c\u8981\u9610\u8ff0\u672c\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u7ecf\u6d4e\u8868\u73b0\u548c\u8d27\u5e01\u653f\u7b56\u3002 \u5f53\u524d\u7f8e\u56fd\u7ecf\u6d4e\u60c5\u51b5 2023\u5e74\u7f8e\u56fd\u901a\u80c0\u867d\u6301\u7eed\u653e\u7f13\uff0c\u4f46\u4ecd\u663e\u7740\u9ad8\u4e8e\u8054\u50a8\u5c402%\u7684\u957f\u671f\u76ee\u6807\u3002\u622a\u81f3\u4eca\u5e744\u6708\uff0c\u4e2a\u4eba\u6d88\u8d39\u5f00\u652f\uff08PCE\uff09\u7269\u4ef7\u6307\u6570\u4e0e\u6838\u5fc3PCE\u7269\u4ef7\u6307\u6570\u5206\u522b\u53474.4%\u4e0e4.7%\u3002 \u7f8e\u56fd\u52b3\u5de5\u5e02\u573a\u4f9d\u7136\u504f\u7d27\uff0c\u4eca\u5e745\u6708\u5931\u4e1a\u7387\u5904\u4e8e3.7%\u7684\u4f4e\u6c34\u5e73\u3002\u7531\u4e8e\u52b3\u52a8\u529b\u4f9b\u4e0d\u5e94\u6c42\uff0c\u5de5\u8d44\u4e0e\u7269\u4ef7\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\u7b49\u52b3\u5de5\u5bc6\u96c6\u884c\u4e1a\uff09\u4e0a\u6da8\u538b\u529b\u6301\u7eed\u3002\u540c\u65f6\uff0c\u4eca\u5e745\u6708\u7684\u52b3\u52a8\u4eba\u53e3\u53c2\u4e0e\u7387\u5df2\u56de\u5230\u76f8\u5f53\u4e8e\u75ab\u524d\u6c34\u5e73\u768462.6%\uff0c\u800c\u975e\u519c\u5c31\u4e1a\u4eba\u6570\u5219\u4e0a\u5347\u81f31.56\u4ebf\u4eba\u3002 \u7531\u4e8e\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u5bfc\u81f4\u6309\u63ed\u5229\u7387\u4e0a\u626c\uff0c\u7f8e\u56fd\u697c\u5e02\u6301\u7eed\u4f4e\u8ff7\u3002\u540c\u65f6\uff0c\u5229\u7387\u6500\u5347\u589e\u52a0\u4f01\u4e1a\u8425\u8fd0\u6210\u672c\uff0c\u52a0\u4e0a\u5e02\u573a\u5bf9\u7ecf\u6d4e\u524d\u666f\u8f6c\u8d8b\u9eef\u6de1\u7684\u5fe7\u8651\uff0c\u7686\u5bfc\u81f4\u4f01\u4e1a\u56fa\u5b9a\u6295\u8d44\u7f29\u51cf\u3002\u7f8e\u56fd\u4eca\u5e74\u7b2c\u4e00\u5b63\u7684\u5b9e\u8d28\u672c\u5730\u751f\u4ea7\u603b\u503c\u6309\u5e74\u589e\u957f1.6%\uff0c\u4e00\u5982\u9884\u671f\u5347\u5e45\u504f\u4f4e\u3002\u5e02\u573a\u53ca\u8054\u50a8\u5c40\u5747\u8ba4\u4e3a\u4eca\u5e74\u7a0d\u540e\u65f6\u95f4\u6216\u4f1a\u51fa\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u3002 \u4eca\u5e74\u7f8e\u56fd\u94f6\u884c\u5371\u673a\u59cb\u4e8e\u94f6\u95e8\u94f6\u884c\uff08Silvergate Bank\uff093\u67088\u65e5\u5173\u95ed\u4e1a\u52a1\u3002\u540c\u65e5\uff0c\u4e3a\u7b79\u96c6\u73b0\u91d1\u5e94\u4ed8\u5b58\u6237\u63d0\u6b3e\uff0c\u77fd\u8c37\u94f6\u884c\u5ba3\u5e03\u51fa\u552e\u8bc1\u5238\u548c\u4e3e\u884c\u7d27\u6025\u80a1\u7968\u53d1\u552e\uff0c\u6b64\u4e3e\u5f15\u81f4\u6050\u614c\u6027\u6324\u63d0\uff0c\u76d1\u7ba1\u673a\u67843\u670810\u65e5\u4ee5\u6d41\u52a8\u6027\u4e0d\u8db3\u548c\u8d44\u4e0d\u62b5\u503a\u4e3a\u7531\uff0c\u5ba3\u5e03\u63a5\u7ba1\u77fd\u8c37\u94f6\u884c\u3002\u7b80\u800c\u8a00\u4e4b\uff0c\u77fd\u8c37\u94f6\u884c\u5012\u95ed\u4e3b\u56e0\u5728\u4e8e\u5176\u672a\u80fd\u6709\u6548\u7ba1\u63a7\u5229\u7387\u98ce\u9669\u2500\u2500\u5e02\u573a\u5229\u7387\u5728\u8fc7\u53bb\u4e00\u5e74\u591a\u56e0\u8054\u50a8\u5c40\u5b9e\u65bd\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u800c\u8d8b\u5347\uff0c\u56e0\u800c\u5728\u77fd\u8c37\u94f6\u884c\u51fa\u552e\u6240\u6301\u672a\u5230\u671f\u56fd\u5e93\u503a\u5238\u65f6\u5f15\u53d1\u5927\u989d\u4e8f\u635f\uff0c\u6700\u7ec8\u62db\u81f4\u6324\u63d0\u30023\u670812\u65e5\uff0c\u540c\u6837\u53d7\u6324\u63d0\u5f71\u54cd\u7684Signature Bank\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u5173\u95ed\u3002\u77fd\u8c37\u94f6\u884c\u548cSignature Bank\u662f\u5176\u65f6\u7f8e\u56fd\u5386\u53f2\u4e0a\u7b2c\u4e8c\u5927\u548c\u7b2c\u4e09\u5927\u94f6\u884c\u7834\u4ea7\u4e8b\u4ef6\u3002 \u4e3a\u7a33\u4f4f\u94f6\u884c\u4e1a\uff0c\u4ee5\u514d\u5371\u673a\u8513\u5ef6\u81f3\u5176\u4ed6\u91d1\u878d\u673a\u6784\uff0c\u8054\u90a6\u5b58\u6b3e\u4fdd\u9669\u516c\u53f8\u5ba3\u5e03\u6240\u6709\u5b58\u6237\uff08\u5305\u62ec\u539f\u672c\u65e0\u53d7\u4fdd\u9669\u4fdd\u969c\u7684\u5b58\u6b3e\u8005\uff09\u5747\u53d7\u4fdd\u969c\u3002\u6807\u51c6\u666e\u5c14500\u6307\u6570\u7b49\u5e02\u573a\u6307\u6807\u6b62\u8dcc\u56de\u5347\uff0c\u663e\u793a\u8fd9\u653f\u7b56\u6709\u6548\u7ef4\u6301\u94f6\u884c\u4e1a\u7684\u7a33\u5b9a\u53ca\u516c\u4f17\u5bf9\u94f6\u884c\u4e1a\u7684\u4fe1\u5fc3\u3002\u81f35\u67081\u65e5\uff0c\u8d44\u4ea7\u8fbe2290\u4ebf\u7f8e\u5143\u7684\u7b2c\u4e00\u5171\u548c\u94f6\u884c\u4ea6\u88ab\u76d1\u7ba1\u673a\u6784\u63a5\u7ba1\uff0c\u94f6\u884c\u5b58\u6b3e\u53ca\u8d44\u4ea7\u6089\u6570\u552e\u4e88\u6469\u6839\u5927\u901a\u3002\u6309\u8d44\u4ea7\u603b\u503c\u8ba1\u7b97\uff0c2023\u5e74\u94f6\u884c\u4e1a\u5012\u95ed\u6f6e\u7684\u4e25\u91cd\u7a0b\u5ea6\u4e3a\u81ea2001\u5e74\u4ee5\u6765\u7684\u5386\u53f2\u65b0\u9ad8\u3002 \u7eb5\u4f7f\u5728\u94f6\u884c\u5371\u673a\u548c\u7ecf\u6d4e\u6216\u73b0\u300c\u6e29\u548c\u8870\u9000\u300d\u7684\u9634\u973e\u4e0b\uff0c\u7f8e\u56fd\u80a1\u5e02\u5e74\u521d\u81f3\u4eca\u4f9d\u7136\u8868\u73b0\u51fa\u8272\uff0c\u671f\u5185\u6807\u51c6\u666e\u5c14500\u6307\u6570\u5347\u5e45\u9ad8\u8fbe13%\u3002 \u4e3a\u628a\u901a\u80c0\u538b\u4f4e\u81f32%\u7684\u957f\u671f\u76ee\u6807\uff0c\u8054\u50a8\u5c40\u4ece2022\u5e743\u6708\u8d77\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4ece\u63a5\u8fd1\u96f6\u7684\u6c34\u5e73\u9010\u6b65\u8c03\u9ad8\uff1b\u4eca\u5e742\u6708\u8bae\u606f\u540e\u5ba3\u5e03\u628a\u76ee\u6807\u533a\u95f4\u4e0a\u8c03\u5230\u4ecb\u4e4e4.5\u5398\u81f34.75\u5398\u30023\u6708\u94f6\u884c\u5371\u673a\u4e4b\u65f6\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u63d0\u5347\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u5230\u4ecb\u4e4e4.75\u5398\u81f35\u5398\uff0c\u4f46\u5c06\u300c\u9884\u671f\u672a\u6765\u8fd8\u9700\u8981\u52a0\u606f\u300d\u4e4b\u8bf4\u4e2d\u300c\u8fd8\u9700\u300d\u5b57\u773c\u6539\u4e3a\u300c\u6216\u9700\u300d\u30025\u6708\u65f6\uff0c\u968f\u7740\u94f6\u884c\u5371\u673a\u7f13\u548c\uff0c\u8054\u50a8\u5c40\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u518d\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\u3002\u57286\u6708\u4e3e\u884c\u7684\u6700\u8fd1\u4e00\u6b21\u4f1a\u8bae\uff0c\u8054\u50a8\u5c40\u9996\u6b21\u7ef4\u6301\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u4e0d\u53d8\uff0c\u540c\u65f6\u8868\u660e\u9884\u671f\u672a\u6765\u4ecd\u5c06\u6301\u7eed\u52a0\u606f\u3002\u8054\u50a8\u5c40\u6210\u5458\u8ba4\u4e3a\uff0c\u5047\u8bbe\u7f8e\u56fd\u7ecf\u6d4e\u53d1\u5c55\u6b65\u4f10\u4e00\u5982\u9884\u671f\uff0c\u52192023\u5e74\u5e74\u5e95\u9002\u5f53\u7684\u8054\u90a6\u57fa\u91d1\u5229\u7387\u4e2d\u4f4d\u6570\u5e94\u4e3a5.6\u5398\u3002 \u5f53\u524d\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56 6\u6708\u8054\u50a8\u5c40\u6682\u505c\u52a0\u606f\u7684\u4e00\u5927\u539f\u56e0\u663e\u7136\u6e90\u4e8e\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u3002\u90e8\u5206\u4e2d\u578b\u94f6\u884c\u53d1\u73b0\u6709\u5fc5\u8981\u589e\u52a0\u8d44\u91d1\u6d41\u52a8\u6027\uff0c\u6545\u6b64\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u5ba2\u6237\u4e25\u5b88\u8c28\u614e\u8d37\u6b3e\u539f\u5219\uff0c\u8fd9\u4ece\u8fd1\u671f\u53d1\u8868\u7684\u9ad8\u7ea7\u8d37\u6b3e\u4e13\u5458\u610f\u89c1\u8c03\u67e5\uff08SLOOS\uff09\u7ed3\u679c\u53ef\u89c1\u4e00\u6591\u3002\u94f6\u884c\u7684\u56f0\u5883\u4fc3\u6210\u5176\u8fdb\u4e00\u6b65\u6536\u7d27\u5bf9\u5bb6\u5ead\u53ca\u4f01\u4e1a\u7684\u4fe1\u8d37\uff0c\u5e7f\u4e49\u800c\u8a00\uff0c\u4fe1\u8d37\u7d27\u7f29\u4ea6\u6709\u52a9\u4e8e\u538b\u4f4e\u901a\u80c0\uff0c\u8ddf\u63d0\u5347\u5229\u7387\u7684\u6548\u679c\u76f8\u4f3c\u3002 \u6b64\u5916\uff0c\u8fd9\u6b21\u94f6\u884c\u5371\u673a\u4ea6\u589e\u52a0\u8054\u50a8\u5c40\u51b3\u7b56\u4e0a\u7684\u4e0d\u786e\u5b9a\u6027\uff0c\u4f8b\u5982\u94f6\u884c\u56e0\u6b64\u6536\u7d27\u8d37\u6b3e\u7684\u7a0b\u5ea6\u4f1a\u6709\u591a\u5927\uff1f\u6536\u7d27\u8d37\u6b3e\u4f1a\u6301\u7eed\u591a\u4e45\uff1f\u94f6\u884c\u5371\u673a\u5bf9\u8d37\u6b3e\u7684\u5f71\u54cd\u662f\u5426\u8fd8\u6709\u6ede\u540e\u6548\u5e94\uff1f\u5bf9\u62db\u8058\u65b9\u9762\u53c8\u6709\u4f55\u5f71\u54cd\uff1f\u6b64\u6b21\u94f6\u884c\u5371\u673a\u8fde\u540c\u5f53\u524d\u8d27\u5e01\u653f\u7b56\u4f1a\u4ea7\u751f\u600e\u6837\u7684\u534f\u540c\u6548\u5e94\uff1f\u6240\u8c13\u300c\u4ee5\u4e0d\u53d8\u5e94\u4e07\u53d8\u300d\uff0c\u8054\u50a8\u5c40\u6682\u505c\u8fdb\u4e00\u6b65\u52a0\u606f\uff0c\u662f\u5728\u7b49\u5f85\u66f4\u591a\u8baf\u606f\uff0c\u4ee5\u8bc4\u4f30\u7ecf\u6d4e\u53d1\u5c55\u53ca\u901a\u80c0\u524d\u666f\uff0c\u4ece\u800c\u66f4\u7cbe\u51c6\u5730\u5224\u65ad\u52a0\u606f\u65f6\u673a\u3002 \u81f3\u4e8e\u975e\u5e38\u89c4\u8d27\u5e01\u653f\u7b56\uff0c\u8054\u50a8\u5c40\u7ee7\u7eed\u7f29\u51cf\u5176\u8d44\u4ea7\u8d1f\u503a\u8868\u89c4\u6a21\u3002\u81ea2022\u5e746\u67081\u65e5\u8d77\uff0c\u8054\u50a8\u5c40\u5c06\u516c\u5f00\u5e02\u573a\u64cd\u4f5c\u8d26\u6237\u4e2d\u7684\u8bc1\u5238\u672c\u91d1\uff0c\u4ec5\u628a\u8d85\u51fa\u6bcf\u6708\u89c4\u5b9a\u4e0a\u9650\u7684\u90e8\u5206\u4f5c\u518d\u6295\u8d44\u3002 \u867d\u7136\u8054\u50a8\u5c40\u5728\u672c\u5e746\u6708\u8bae\u606f\u540e\u6682\u505c\u52a0\u606f\uff0c\u4f46\u7f29\u8868\u64cd\u4f5c\u4ecd\u7ee7\u7eed\u8fdb\u884c\u3002\u503c\u5f97\u4e00\u63d0\u7684\u662f\uff0c\u4e3a\u5e94\u5bf93\u6708\u65f6\u7684\u94f6\u884c\u5371\u673a\uff0c\u8054\u50a8\u5c40\u5f53\u6708\u66fe\u4e00\u5ea6\u5927\u5e45\u6269\u8868\uff0c\u968f\u5373\u53c8\u56de\u5f52\u7f29\u8868\u3002\u5f53\u65f6\u8be5\u5c40\u4e3b\u5e2d\u89e3\u91ca\uff0c\u7a81\u7136\u6269\u8868\u300c\u5411\u94f6\u884c\u63d0\u4f9b\u4e34\u65f6\u8d37\u6b3e\u5e76\u975e\u4e3a\u4e86\u76f4\u63a5\u6539\u53d8\u8d27\u5e01\u653f\u7b56\u7acb\u573a\uff0c\u800c\u662f\u4e3a\u4e86\u5e94\u5bf9\u8fd1\u671f\u94f6\u884c\u4e1a\u5728\u538b\u529b\u4e0b\u5bf9\u6d41\u52a8\u8d44\u91d1\u7684\u7279\u6b8a\u9700\u6c42\u3002\u300d \u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u5c55\u671b \u8054\u50a8\u5c40\u81ea\u53bb\u5e743\u670810\u6b21\u52a0\u606f\uff0c\u5c06\u8054\u90a6\u57fa\u91d1\u5229\u7387\u76ee\u6807\u533a\u95f4\u63d0\u5347\u5230\u4ecb\u4e4e5\u5398\u81f35.25\u5398\uff0c\u901f\u5ea6\u4e3a\u6570\u5341\u5e74\u4e4b\u6700\u3002\u6839\u636e\u8fc4\u4eca\u4e3a\u6b62\u7684\u7ecf\u6d4e\u6570\u636e\u548c\u8d44\u6599\uff0c\u7b14\u8005\u4eec\u8ba4\u4e3a\u8054\u50a8\u5c40\u6682\u7f13\u52a0\u606f\u5b9e\u5c5e\u5ba1\u614e\u800c\u5177\u7b56\u7565\u6027\u4e4b\u4e3e\uff0c\u5e76\u4e14\u9884\u671f\u4eca\u5e74\u4f59\u4e0b\u65f6\u95f4\u5927\u6982\u4e0d\u4f1a\u518d\u5927\u5e45\u52a0\u606f\uff0c\u539f\u56e0\u5305\u62ec\u4e0b\u5217\u56e0\u7d20\u3002 \u4e00\u65b9\u9762\uff0c\u5c3d\u7ba1\u76ee\u524d\u7f8e\u56fd\u901a\u80c0\u4ecd\u9ad8\u4e8e2%\u957f\u671f\u76ee\u6807\uff0c\u4f46\u7269\u4ef7\u538b\u529b\u5df2\u6e10\u89c1\u7f13\u548c\u3002\u540c\u65f6\u8054\u50a8\u5c40\u9884\u671f\u52b3\u5de5\u5e02\u573a\u4f9b\u5e94\u77ed\u7f3a\u7684\u72b6\u51b5\u5c06\u7eed\u89c1\u6539\u5584\uff0c\u5f53\u52b3\u5de5\u5e02\u573a\u4f9b\u6c42\u9010\u6b65\u6062\u590d\u5e73\u8861\uff0c\u5176\u5bf9\u5de5\u8d44\u4e0e\u7269\u4ef7\u7684\u538b\u529b\uff08\u5c24\u5176\u662f\u670d\u52a1\u4e1a\uff09\u4ea6\u4f1a\u968f\u4e4b\u964d\u4f4e\u3002\u53e6\u5916\uff0c\u5404\u884c\u5404\u4e1a\u7684\u4f9b\u5e94\u8005\u9010\u6e10\u9002\u5e94\u75ab\u540e\u5168\u7403\u4f9b\u5e94\u94fe\u65b0\u5f62\u52bf\uff0c\u901a\u80c0\u538b\u529b\u5c06\u4f34\u968f\u4f9b\u6c42\u7f3a\u53e3\u6536\u7a84\u800c\u76f8\u5e94\u51cf\u8f7b\u3002\u5e02\u573a\u4ef7\u683c\u5bf9\u8d27\u5e01\u653f\u7b56\u7684\u53cd\u5e94\u867d\u4e0d\u514d\u6ede\u540e\uff0c\u4f46\u5df2\u5f00\u59cb\u4f5c\u51fa\u8c03\u6574\uff0c\u4f8b\u5982\u6700\u8fd1\u7f8e\u56fd\u4e8c\u624b\u8f66\u5e02\u573a\u5448\u73b0\u4ef7\u683c\u4e0b\u8dcc\uff0c\u53ef\u80fd\u90e8\u5206\u53cd\u6620\u65e9\u524d\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u7684\u6548\u5e94\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u82e5\u8054\u50a8\u5c40\u7ef4\u6301\u5927\u5e45\u52a0\u606f\uff0c\u4f1a\u589e\u52a0\u7f8e\u56fd\u7ecf\u6d4e\u300c\u786c\u7740\u9646\u300d\u7684\u98ce\u9669\u3002\u8054\u50a8\u5c40\u529b\u6c42\u5728\u4e0d\u5f15\u53d1\u4e25\u91cd\u7ecf\u6d4e\u8870\u9000\u7684\u60c5\u51b5\u4e0b\u7a33\u5b9a\u7269\u4ef7\uff0c\u5c24\u5176\u5728\u4eca\u5e74\u7684\u94f6\u884c\u5371\u673a\u66b4\u9732\u51fa\u94f6\u884c\u4e1a\u754c\u5728\u5927\u5e45\u52a0\u606f\u653f\u7b56\u4e0b\u7684\u8f6f\u808b\u540e\uff0c\u91d1\u878d\u7a33\u5b9a\u6027\u6210\u4e3a\u8054\u50a8\u5c40\u653f\u7b56\u63aa\u65bd\u7684\u5173\u952e\u8003\u8651\u56e0\u7d20\u4e4b\u4e00\uff0c\u4ee5\u907f\u514d\u5f15\u53d1\u91d1\u878d\u5371\u673a\u3002 \u53e6\u5916\uff0c\u5c3d\u7ba1\u503a\u52a1\u4e0a\u9650\u6cd5\u6848\u6700\u8fd1\u83b7\u5f97\u901a\u8fc7\uff0c\u7f8e\u56fd\u653f\u5e9c\u6682\u65e0\u503a\u52a1\u8fdd\u7ea6\u4e4b\u865e\uff0c\u800c\u8d22\u653f\u90e8\u4ecd\u59cb\u7ec8\u987b\u4e3a\u8054\u50a8\u5c40\u7684\u4e3b\u8981\u652f\u4ed8\u8d26\u6237\u586b\u6570\u3002\u82e5\u8d22\u653f\u90e8\u56e0\u6b64\u53d1\u884c\u65b0\u56fd\u503a\uff0c\u6216\u900f\u8fc7\u6324\u51fa\u6548\u5e94\u51cf\u5c11\u5e02\u573a\u4e0a\u7684\u6d41\u52a8\u8d44\u91d1\uff0c\u5bf9\u94f6\u884c\u4f53\u7cfb\u3001\u4f01\u4e1a\u53ca\u5bb6\u5ead\u52bf\u6301\u7eed\u6784\u6210\u6311\u6218\u3002\u4e0d\u53ef\u4e0d\u5bdf\u7684\u662f\uff0c\u8054\u50a8\u5c40\u5927\u5e45\u7f29\u8868\u7684\u8ba1\u5212\u5c1a\u5728\u8fdb\u884c\u4e2d\uff0c\u5176\u5bf9\u7ecf\u6d4e\u7684\u7d27\u7f29\u6548\u5e94\u4f9d\u7136\u6301\u7eed\u3002 \u6700\u540e\uff0c\u8d27\u5e01\u653f\u7b56\u5de5\u5177\u65e0\u7591\u5b58\u5728\u5176\u5c40\u9650\u6027\u3002\u672c\u8f6e\u7f8e\u56fd\u9ad8\u901a\u80c0\u4e3b\u56e0\u5728\u4e8e\u5b8f\u89c2\u7ecf\u6d4e\u4f9b\u6c42\u5931\u8861\u3002\u8981\u4f7f\u901a\u80c0\u91cd\u8fd4\u76ee\u6807\u6c34\u5e73\uff0c\u603b\u4f53\u4f9b\u5e94\u5fc5\u987b\u8db3\u4ee5\u5e94\u4ed8\u603b\u4f53\u9700\u6c42\u3002\u7d27\u7f29\u8d27\u5e01\u653f\u7b56\u662f\u9700\u6c42\u7ba1\u7406\u5de5\u5177\uff0c\u4e3b\u8981\u900f\u8fc7\u9650\u5236\u9700\u6c42\u4ee5\u904f\u6b62\u901a\u80c0\uff0c\u5374\u65e0\u6cd5\u6709\u6548\u89e3\u51b3\u5f53\u524d\u79cd\u79cd\u4f9b\u5e94\u95ee\u9898\uff0c\u4f8b\u5982\u56fd\u5185\u5de5\u4eba\u77ed\u7f3a\u3001\u5730\u7f18\u653f\u5c40\u4e0d\u7a33\u5b9a\u3001\u5168\u7403\u4f9b\u5e94\u94fe\u91cd\u5851\uff0c\u4ee5\u53ca\u6cb9\u4ef7\u66b4\u6da8\u7b49\u3002\u4ee5\u4e0a\u56e0\u7d20\u5747\u5bf9\u7f8e\u56fd\u7ecf\u6d4e\u548c\u91d1\u878d\u53d1\u5c55\u81f3\u5173\u91cd\u8981\uff0c\u4ea6\u5c06\u5f71\u54cd\u8054\u50a8\u5c40\u672a\u6765\u653f\u7b56\u8d70\u5411\u3002 \u66f9\u66e6\u6708\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \u4f55\u5fd7\u57f9\u535a\u58eb \u6e2f\u5927\u7ecf\u7ba1\u5b66\u9662\u7ecf\u6d4e\u5b66\u8bb2\u5e08 \uff08\u672c\u6587\u540c\u65f6\u4e8e\u4e8c\u96f6\u4e8c\u4e09\u5e74\u516d\u6708\u4e8c\u5341\u516b\u65e5\u8f7d\u4e8e\u300a\u4fe1\u62a5\u300b\u300c\u9f99\u864e\u5c71\u4e0b\u300d\u4e13\u680f\uff09"},"aioseo_meta_data":{"post_id":"192763","title":null,"description":null,"keywords":[],"keyphrases":{"focus":{"keyphrase":"","score":0,"analysis":{"keyphraseInTitle":{"score":0,"maxScore":9,"error":1}}},"additional":[]},"primary_term":null,"canonical_url":null,"og_title":null,"og_description":null,"og_object_type":"default","og_image_type":"default","og_image_url":null,"og_image_width":null,"og_image_height":null,"og_image_custom_url":null,"og_image_custom_fields":null,"og_video":"","og_custom_url":null,"og_article_section":null,"og_article_tags":[],"twitter_use_og":false,"twitter_card":"default","twitter_image_type":"default","twitter_image_url":null,"twitter_image_custom_url":null,"twitter_image_custom_fields":null,"twitter_title":null,"twitter_description":null,"schema":{"blockGraphs":[],"customGraphs":[],"default":{"data":{"Article":[],"Course":[],"Dataset":[],"FAQPage":[],"Movie":[],"Person":[],"Product":[],"ProductReview":[],"Car":[],"Recipe":[],"Service":[],"SoftwareApplication":[],"WebPage":[]},"graphName":"WebPage","isEnabled":true},"graphs":[]},"schema_type":"default","schema_type_options":null,"pillar_content":false,"robots_default":true,"robots_noindex":false,"robots_noarchive":false,"robots_nosnippet":false,"robots_nofollow":false,"robots_noimageindex":false,"robots_noodp":false,"robots_notranslate":false,"robots_max_snippet":"-1","robots_max_videopreview":"-1","robots_max_imagepreview":"large","priority":null,"frequency":"default","local_seo":null,"breadcrumb_settings":null,"limit_modified_date":0,"ai":null,"created":"2023-06-29 09:40:00","updated":"2023-06-29 10:05:07","seo_analyzer_scan_date":null},"aioseo_breadcrumb":"<div class=\"aioseo-breadcrumbs\"><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/www.hkubs.hku.hk\/sc\/\" title=\"Home\">Home<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t<a href=\"https:\/\/www.hkubs.hku.hk\/sc\/thought-leadership\/opinions-and-speeches-sc\/\" title=\"\u5a92\u4f53\u62a5\u5bfc\">\u5a92\u4f53\u62a5\u5bfc<\/a>\n\t\t<\/span><span class=\"aioseo-breadcrumb-separator\">&raquo;<\/span><span class=\"aioseo-breadcrumb\">\n\t\t\t2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b\n\t\t<\/span><\/div>","aioseo_breadcrumb_json":[{"label":"Home","link":"https:\/\/www.hkubs.hku.hk\/sc\/"},{"label":"\u5a92\u4f53\u62a5\u5bfc","link":"https:\/\/www.hkubs.hku.hk\/sc\/thought-leadership\/opinions-and-speeches-sc\/"},{"label":"2023\u5e74\u7b2c\u4e8c\u5b63\u7f8e\u56fd\u8d27\u5e01\u653f\u7b56\u56de\u987e\u548c\u5c55\u671b","link":"https:\/\/www.hkubs.hku.hk\/sc\/research\/thought-leadership\/opinions-and-speeches\/2023%e5%b9%b4%e7%ac%ac%e4%ba%8c%e5%ad%a3%e7%be%8e%e5%9b%bd%e8%b4%a7%e5%b8%81%e6%94%bf%e7%ad%96%e5%9b%9e%e9%a1%be%e5%92%8c%e5%b1%95%e6%9c%9b_2\/"}],"_links":{"self":[{"href":"https:\/\/www.hkubs.hku.hk\/sc\/wp-json\/wp\/v2\/thought-leadership\/192763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hkubs.hku.hk\/sc\/wp-json\/wp\/v2\/thought-leadership"}],"about":[{"href":"https:\/\/www.hkubs.hku.hk\/sc\/wp-json\/wp\/v2\/types\/thought-leadership"}],"version-history":[{"count":1,"href":"https:\/\/www.hkubs.hku.hk\/sc\/wp-json\/wp\/v2\/thought-leadership\/192763\/revisions"}],"predecessor-version":[{"id":192771,"href":"https:\/\/www.hkubs.hku.hk\/sc\/wp-json\/wp\/v2\/thought-leadership\/192763\/revisions\/192771"}],"wp:attachment":[{"href":"https:\/\/www.hkubs.hku.hk\/sc\/wp-json\/wp\/v2\/media?parent=192763"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hkubs.hku.hk\/sc\/wp-json\/wp\/v2\/tags?post=192763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}