{"id":656195,"date":"2024-08-11T00:55:38","date_gmt":"2024-08-10T22:55:38","guid":{"rendered":"https:\/\/dailynewshungary.com\/cn\/%e6%9c%80%e5%a4%a7%e9%99%90%e5%ba%a6%e9%99%8d%e4%bd%8e%e6%94%b6%e5%85%a5%e6%8a%95%e8%b5%84%e9%a3%8e%e9%99%a9%e7%9a%84%e7%ad%96%e7%95%a5\/"},"modified":"2024-08-11T00:55:38","modified_gmt":"2024-08-10T22:55:38","slug":"%e6%9c%80%e5%a4%a7%e9%99%90%e5%ba%a6%e9%99%8d%e4%bd%8e%e6%94%b6%e5%85%a5%e6%8a%95%e8%b5%84%e9%a3%8e%e9%99%a9%e7%9a%84%e7%ad%96%e7%95%a5","status":"publish","type":"post","link":"https:\/\/dailynewshungary.com\/cn\/%e6%9c%80%e5%a4%a7%e9%99%90%e5%ba%a6%e9%99%8d%e4%bd%8e%e6%94%b6%e5%85%a5%e6%8a%95%e8%b5%84%e9%a3%8e%e9%99%a9%e7%9a%84%e7%ad%96%e7%95%a5\/","title":{"rendered":"\u6700\u5927\u9650\u5ea6\u964d\u4f4e\u6536\u5165\u6295\u8d44\u98ce\u9669\u7684\u7b56\u7565"},"content":{"rendered":"

\u8d5e\u52a9\u5185\u5bb9<\/span><\/i><\/b><\/p>\n

\u9a7e\u9a6d\u6536\u76ca\u6295\u8d44\u7684\u4e16\u754c\u5c31\u50cf\u8d70\u94a2\u4e1d\u4e00\u6837,\u5982\u4f55\u5728\u6700\u5927\u5316\u6536\u76ca\u7684\u540c\u65f6\u904f\u5236\u98ce\u9669,\u6295\u8d44\u8005\u540c\u4f34\u4e0d\u8981\u5bb3\u6015!\u672c\u6307\u5357\u5c06\u63ed\u793a\u7cbe\u660e\u7684\u7b56\u7565,\u5e2e\u52a9\u60a8\u5e73\u8861\u884c\u4e3a,\u4ece\u591a\u5143\u5316\u5230\u4e86\u89e3\u5229\u7387\u98ce\u9669,\u6211\u4eec\u5c06\u4e3a\u60a8\u914d\u5907\u6784\u5efa\u7a33\u5065\u4e14\u5b89\u5168\u7684\u6536\u76ca\u7ec4\u5408\u6240\u9700\u7684\u5de5\u5177\u3002 Go https:\/\/\u6bd4\u7279\u5e01-\u4ebf\u4e07\u5bcc\u7fc1\u7f51\/<\/a> \u8fdb\u4e00\u6b65\u7406\u89e3\u6536\u5165\u6295\u8d44\u7684\u6982\u5ff5\u5e76\u66f4\u597d\u5730\u505a\u51fa\u51b3\u7b56\u3002 <\/strong><\/p>\n

\u591a\u5143\u5316:\u964d\u4f4e\u98ce\u9669\u7684\u57fa\u77f3<\/b><\/h2>\n

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\u4f8b\u5982,\u5c06\u80a1\u7968\u3001\u503a\u5238\u548c\u623f\u5730\u4ea7\u6df7\u5408\u5230\u60a8\u7684\u6295\u8d44\u7ec4\u5408\u4e2d\u53ef\u4ee5\u5e2e\u52a9\u5e73\u8861\u4e00\u4e2a\u90e8\u95e8\u7684\u6f5c\u5728\u635f\u5931\u548c\u53e6\u4e00\u4e2a\u90e8\u95e8\u7684\u6536\u76ca\u3002\u8fd9\u6837,\u5982\u679c\u4e00\u9879\u6295\u8d44\u9047\u5230\u56f0\u96be,\u5176\u4ed6\u6295\u8d44\u5c31\u53ef\u4ee5\u5f25\u8865\u8fd9\u4e00\u4e0d\u8db3\u3002<\/span><\/p>\n

Bu\u4ec5\u5982\u6b64,\u8de8\u5404\u4e2a\u884c\u4e1a\u548c\u5730\u7406\u533a\u57df\u8fdb\u884c\u591a\u5143\u5316\u662f\u660e\u667a\u7684,\u60f3\u8c61\u4e00\u4e0b,\u5982\u679c\u4f60\u57282000\u5e74\u4ee3\u521d\u53ea\u6295\u8d44\u79d1\u6280\u80a1,\u4e92\u8054\u7f51\u6ce1\u6cab\u7834\u88c2\u5c06\u662f\u707e\u96be\u6027\u7684,\u4f46\u5982\u679c\u5728\u533b\u7597\u4fdd\u5065\u3001\u80fd\u6e90\u751a\u81f3\u56fd\u9645\u5e02\u573a\u8fdb\u884c\u6295\u8d44,\u53ef\u80fd\u4f1a\u8f6f\u5316\u8fd9\u4e00\u6253\u51fb\u3002<\/span><\/p>\n

I recall\u5230\u4e00\u4f4d\u670b\u53cb\u5728\u5f53\u5730\u623f\u5730\u4ea7\u6295\u5165\u5de8\u8d44,\u5f53\u5e02\u573a\u5927\u8dcc\u65f6,\u4ed6\u7684\u6295\u8d44\u7ec4\u5408\u4e5f\u8ddf\u7740\u5927\u8dcc,\u5982\u679c\u4ed6\u5305\u62ec\u4e00\u4e9b\u503a\u5238\u6216\u56fd\u9645\u80a1\u7968,\u4ed6\u53ef\u80fd\u66f4\u80fd\u6e21\u8fc7\u96be\u5173\u3002<\/span><\/p>\n

Ever wondered\u4e3a\u4ec0\u4e48\u6709\u4e9b\u6295\u8d44\u8005\u4f3c\u4e4e\u65e0\u8bba\u7ecf\u6d4e\u73af\u5883\u5982\u4f55\u90fd\u7ef4\u6301\u751f\u5b58?\u4ed6\u4eec\u5f88\u53ef\u80fd\u5f88\u597d\u5730\u5206\u6563\u6295\u8d44\u7ec4\u5408\u6240\u4ee5,\u4e0b\u6b21\u4f60\u5728\u505a\u6295\u8d44\u51b3\u7b56\u65f6,\u8bf7\u8bb0\u4f4f:\u5206\u6563\u4f60\u7684\u98ce\u9669,\u4e0d\u8981\u628a\u6240\u6709\u7684\u94b1\u90fd\u653e\u5728\u4e00\u5339\u9a6c\u4e0a\u3002<\/span><\/p>\n

\u8bc4\u4f30\u521b\u6536\u8d44\u4ea7<\/b><\/h2>\n

\u4f30\u521b\u6536\u8d44\u4ea7\u6709\u70b9\u50cf\u4e70\u53ef\u9760\u7684\u8f66,\u7b2c\u4e00\u8f86\u770b\u5230\u7684\u4f60\u4e0d\u67e5\u5386\u53f2\u5c31\u4e0d\u4f1a\u4e70\u4e86\u5427,\u6536\u76ca\u6295\u8d44\u4e5f\u540c\u6837\u9002\u7528\u539f\u5219\u3002<\/span><\/p>\n

1\u5148\u770b\u80a1\u606f\u6216\u4ed8\u606f\u7684\u7a33\u5b9a\u6027,\u6709\u4e00\u81f4\u3001\u53ef\u9760\u7684\u652f\u4ed8\u8bb0\u5f55\u7684\u516c\u53f8\u4e00\u822c\u90fd\u662f\u6bd4\u8f83\u5b89\u5168\u7684\u6295\u6ce8,\u4e3e\u4e2a\u4f8b\u5b50,\u4ee5\u53ef\u9760\u7684\u80a1\u606f\u95fb\u540d\u7684\u84dd\u7b79\u80a1\u3002<\/span><\/p>\n

\u63a5\u4e0b\u6765\u8003\u8651\u4e00\u4e0b\u8d44\u4ea7\u7684\u7c7b\u578b\u3002\u503a\u5238\u901a\u5e38\u6bd4\u80a1\u7968\u98ce\u9669\u8f83\u4f4e\u3002\u4f46\u503a\u5238\u5185\u90e8\u6709\u5404\u79cd\u7c7b\u578b,\u5373\u653f\u5e9c\u503a\u5238\u3001\u5e02\u653f\u503a\u5238\u3001\u4f01\u4e1a\u503a\u5238,\u6bcf\u79cd\u7c7b\u578b\u90fd\u6709\u4e0d\u540c\u7684\u98ce\u9669\u7ea7\u522b\u3002\u6211\u66fe\u7ecf\u4ece\u6211\u7684\u57ce\u5e02\u6295\u8d44\u5e02\u653f\u503a\u5238,\u56e0\u4e3a\u5b83\u4eec\u63d0\u4f9b\u4e86\u826f\u597d\u7684\u5b89\u5168\u6027\u548c\u56de\u62a5\u5e73\u8861\u3002<\/span><\/p>\n

(REITs)\u4e5f\u53ef\u4ee5\u662f\u4e00\u4e2a\u5f88\u597d\u7684\u8865\u5145,\u5b83\u4eec\u53ef\u4ee5\u8ba9\u4f60\u6295\u8d44\u623f\u5730\u4ea7,\u800c\u65e0\u9700\u7ba1\u7406\u623f\u4ea7\u7684\u9ebb\u70e6,\u518d\u52a0\u4e0a\u5b83\u4eec\u5f80\u5f80\u4f1a\u5e26\u6765\u5438\u5f15\u4eba\u7684\u80a1\u606f\u3002<\/span><\/p>\n

\u8bc1(CD)\u8fd9\u6837\u7684\u56fa\u5b9a\u6536\u76ca\u8bc1\u5238\u5462?\u4ed6\u4eec\u53ef\u80fd\u6ca1\u6709\u6700\u9ad8\u7684\u56de\u62a5,\u4f46\u4ed6\u4eec\u7a33\u5b9a\u548c\u5b89\u5168,\u6211\u7684\u7956\u7236\u4e3a\u4ed6\u4eec\u7684\u5b89\u5168\u800c\u5411CD\u53d1\u8a93,\u5c24\u5176\u662f\u5728\u6ce2\u52a8\u65f6\u671f\u3002<\/span><\/p>\n

Last,\u7d27\u76ef\u7ecf\u6d4e\u6307\u6807\u548c\u516c\u53f8\u7684\u8d22\u52a1\u5065\u5eb7\u72b6\u51b5,\u5b9a\u671f\u590d\u76d8\u8fd9\u4e9b\u6709\u52a9\u4e8e\u53d1\u73b0\u6f5c\u5728\u95ee\u9898,\u7136\u540e\u518d\u5f71\u54cd\u4f60\u7684\u56de\u62a5\u3002<\/span><\/p>\n

\u4e86\u89e3\u5e76\u964d\u4f4e\u5229\u7387\u98ce\u9669<\/b><\/h2>\n

Risk\u6709\u70b9\u50cf\u5929\u6c14 impredictable\u4f46\u5f71\u54cd,\u5f53\u5229\u7387\u4e0a\u5347\u65f6,\u73b0\u6709\u503a\u5238\u7684\u4ef7\u503c\u901a\u5e38\u4f1a\u4e0b\u964d,\u4e3a\u4ec0\u4e48?\u56e0\u4e3a\u65b0\u503a\u5238\u7684\u53d1\u884c\u5229\u7387\u8f83\u9ad8,\u4f7f\u5f97\u65e7\u503a\u5238\u7684\u5438\u5f15\u529b\u964d\u4f4e\u3002<\/span><\/p>\n

\u8981\u89e3\u51b3\u8fd9\u4e2a\u95ee\u9898,\u8bf7\u8003\u8651\u4e00\u4e0b\u60a8\u7684\u503a\u5238\u7684\u671f\u9650,\u77ed\u671f\u503a\u5238\u5bf9\u5229\u7387\u53d8\u5316\u7684\u654f\u611f\u5ea6\u4f4e\u4e8e\u957f\u671f\u503a\u5238,\u8bf7\u8fd9\u6837\u60f3:\u5982\u679c\u60a8\u8ba1\u5212\u91ce\u9910,\u60a8\u4f1a\u67e5\u770b\u77ed\u671f\u5929\u6c14\u9884\u62a5,\u800c\u4e0d\u662f\u957f\u671f\u5929\u6c14\u9884\u62a5\u3002\u503a\u5238\u7684\u6301\u7eed\u65f6\u95f4\u8f83\u77ed\u610f\u5473\u7740\u5229\u7387\u6ce2\u52a8\u7684\u98ce\u9669\u8f83\u5c0f\u3002<\/span><\/p>\n

\u5404\u79cd\u503a\u5238\u7c7b\u578b\u7684\u591a\u6837\u5316\u4e5f\u6709\u5e2e\u52a9\u3002\u4f8b\u5982,\u4e0e\u516c\u53f8\u503a\u5238\u76f8\u6bd4,\u653f\u5e9c\u503a\u5238\u5bf9\u5229\u7387\u53d8\u5316\u7684\u53cd\u5e94\u53ef\u80fd\u4e0d\u540c\u3002<\/span><\/p>\n

1\u79cd\u7b56\u7565\u662f\u5229\u7528\u503a\u5238\u9636\u68af,\u8fd9\u6d89\u53ca\u5230\u8d2d\u4e70\u4e0d\u540c\u671f\u9650\u7684\u503a\u5238,\u968f\u7740\u503a\u5238\u7684\u6210\u719f,\u4f60\u5c06\u672c\u91d1\u518d\u6295\u8d44\u5230\u65b0\u7684\u503a\u5238\u4e2d,\u8fd9\u6709\u52a9\u4e8e\u51cf\u8f7b\u5229\u7387\u968f\u65f6\u95f4\u53d8\u5316\u7684\u5f71\u54cd\u3002<\/span><\/p>\n

\u8bb0\u521d\u6b21\u906d\u9047\u5229\u7387\u4e0a\u5347,\u957f\u671f\u503a\u5238\u53d7\u5230\u6253\u51fb,\u5bf9\u5229\u7387\u98ce\u9669\u662f\u4e00\u5802\u60e8\u8bfe,\u6b64\u540e\u9009\u62e9\u4e86\u77ed\u671f\u548c\u957f\u671f\u503a\u5238\u7684\u6df7\u5408,\u4ee5\u66f4\u597d\u5730\u5e73\u8861\u6295\u8d44\u7ec4\u5408\u3002<\/span><\/p>\n

So,\u867d\u7136\u6211\u4eec\u65e0\u6cd5\u63a7\u5236\u5229\u7387,\u4f46\u6211\u4eec\u5f53\u7136\u53ef\u4ee5\u8c03\u6574\u6211\u4eec\u7684\u7b56\u7565,\u4ee5\u66f4\u597d\u5730\u5904\u7406\u5176\u6ce2\u52a8\u3002<\/span><\/p>\n

\u4fe1\u7528\u98ce\u9669\u7ba1\u7406<\/b><\/h2>\n

Credit risk management \u5c31\u50cf\u5728\u51fa\u79df\u4f60\u7684\u623f\u4ea7\u4e4b\u524d\u68c0\u67e5\u79df\u6237\u7684\u80cc\u666f,\u4f60\u60f3\u786e\u4fdd\u4ed6\u4eec\u53ef\u9760,\u80fd\u591f\u6309\u65f6\u4ed8\u6b3e\u3002<\/span><\/p>\n

1\u3001\u8bc4\u4f30\u503a\u5238\u53d1\u884c\u4eba\u7684\u4fe1\u7528\u5ea6,\u4fe1\u7528\u8bc4\u7ea7\u9ad8\u7684\u516c\u53f8\u548c\u653f\u5e9c\u4e00\u822c\u90fd\u662f\u6bd4\u8f83\u5b89\u5168\u7684\u62bc\u6ce8,\u8fd9\u4e9b\u8bc4\u7ea7,\u50cf\u7a46\u8fea\u6216\u6807\u51c6\u666e\u5c14\u8fd9\u6837\u7684\u673a\u6784\u63d0\u4f9b,\u53ef\u4ee5\u8ba9\u4f60\u5bf9\u53d1\u884c\u4eba\u7684\u8d22\u52a1\u5065\u5eb7\u72b6\u51b5\u6709\u5f88\u597d\u7684\u611f\u89c9\u3002<\/span><\/p>\n

AAA\u7ea7\u503a\u5238\u6295\u8d44\u6bd4\u5982,\u7c7b\u4f3c\u4e8e\u79df\u7ed9\u4fe1\u7528\u8bc4\u5206\u6ee1\u5206\u7684\u79df\u6237,\u8fdd\u7ea6\u98ce\u9669\u6700\u5c0f,\u5c3d\u7ba1\u56de\u62a5\u53ef\u80fd\u8f83\u4f4e,\u53e6\u4e00\u65b9\u9762,\u9ad8\u6536\u76ca\u6216\u201c\u5783\u573e\u201d\u503a\u5238\u53ef\u4ee5\u63d0\u4f9b\u66f4\u9ad8\u7684\u56de\u62a5,\u4f46\u98ce\u9669\u66f4\u5927,\u7c7b\u4f3c\u4e8e\u79df\u7ed9\u4fe1\u7528\u8bb0\u5f55\u4e0d\u7a33\u5b9a\u7684\u4eba\u3002<\/span><\/p>\n

\u6301\u503a\u591a\u5143\u5316\u8fd8\u53ef\u4ee5\u964d\u4f4e\u4fe1\u7528\u98ce\u9669,\u5c06\u60a8\u7684\u6295\u8d44\u5206\u6563\u5230\u4e0d\u540c\u7684\u90e8\u95e8\u548c\u53d1\u884c\u4eba,\u8fd9\u6837,\u5982\u679c\u4e00\u4e2a\u53d1\u884c\u4eba\u8fdd\u7ea6,\u5bf9\u60a8\u7684\u6574\u4e2a\u6295\u8d44\u7ec4\u5408\u6765\u8bf4\u5e76\u4e0d\u610f\u5473\u7740\u707e\u96be\u3002<\/span><\/p>\n

1\u4e2a\u670b\u53cb\u66fe\u7ecf\u5927\u4e3e\u6295\u8d44\u5355\u4e00\u516c\u53f8\u7684\u503a\u5238,\u5f53\u90a3\u5bb6\u516c\u53f8\u9762\u4e34\u8d22\u52a1\u56f0\u5883\u65f6,\u4ed6\u7684\u6295\u8d44\u906d\u53d7\u4e86\u5f88\u5927\u7684\u6253\u51fb,\u5982\u679c\u4ed6\u591a\u5143\u5316,\u5f71\u54cd\u5c31\u4e0d\u90a3\u4e48\u4e25\u91cd\u4e86\u3002<\/span><\/p>\n

Zui\u540e,\u7d27\u76ef\u7ecf\u6d4e\u6307\u6807,\u4f4e\u8ff7\u4f1a\u589e\u52a0\u8fdd\u7ea6\u98ce\u9669,\u5b9a\u671f\u5ba1\u6838\u6240\u6301\u503a\u5238\u60c5\u51b5,\u968f\u65f6\u4e86\u89e3\u5e02\u573a\u60c5\u51b5,\u53ef\u4ee5\u5e2e\u52a9\u60a8\u53ca\u65f6\u8c03\u6574\u3002<\/span><\/p>\n

\u7ed3\u8bba<\/b><\/h2>\n

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Disclaimer: \u8d5e\u52a9\u6587\u7ae0\u7684\u4f5c\u8005(s)\u5bf9\u6240\u8868\u8fbe\u7684\u4efb\u4f55\u610f\u89c1\u6216\u6240\u63d0\u51fa\u7684\u8981\u7ea6\u8d1f\u5168\u90e8\u8d23\u4efb,\u8fd9\u4e9b\u610f\u89c1\u5e76\u4e0d\u4e00\u5b9a\u53cd\u6620\u5b98\u65b9\u7684\u7acb\u573a \u5308\u7259\u5229\u6bcf\u65e5\u65b0\u95fb<\/a>\u7684,\u800c\u7f16\u8f91\u4eba\u5458\u4e5f\u4e0d\u80fd\u5bf9\u5176\u771f\u5b9e\u6027\u8d1f\u8d23\u3002<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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