{"id":1596,"date":"2025-09-29T10:23:28","date_gmt":"2025-09-29T02:23:28","guid":{"rendered":"http:\/\/stevenpotter.cn\/?page_id=1596"},"modified":"2025-09-29T10:23:30","modified_gmt":"2025-09-29T02:23:30","slug":"%e5%8d%81%e4%ba%94%e4%ba%94%e5%a4%87%e6%88%98%e7%a2%b3%e8%be%be%e5%b3%b0-%e8%83%bd%e6%ba%90%e8%bd%ac%e5%9e%8b%e5%85%b3%e9%94%ae%e6%9c%9f%e4%bb%a5%e4%bd%95%e4%b8%ba","status":"publish","type":"page","link":"http:\/\/stevenpotter.cn\/?page_id=1596","title":{"rendered":"\u201c\u5341\u4e94\u4e94\u201d\u5907\u6218\u201c\u78b3\u8fbe\u5cf0\u201d \u80fd\u6e90\u8f6c\u578b\u5173\u952e\u671f\u4ee5\u4f55\u4e3a\u91cd"},"content":{"rendered":"\n<ul>\n<li><img decoding=\"async\" alt=\"img\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833051939462_840_560.jpg\"><\/li>\n<\/ul>\n\n\n\n<p><strong>\u6765\u6e90\u4e8e \u300a\u8d22\u65b0\u5468\u520a\u300b 2025\u5e7409\u670822\u65e5\u7b2c37\u671f<\/strong><br><strong>\u6587\uff5c\u8d22\u65b0\u5468\u520a \u7f57\u56fd\u5e73 \u8d75\u714a 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href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/20056284691?originReferrer=pcarticle\">\u94a2\u8054\u80fd\u5316<\/a>\u603b\u7ecf\u7406\u5ed6\u5a1c\u6307\u51fa\uff0c\u7ecf\u6d4e\u7ed3\u6784\u8f6c\u578b\u5173\u952e\u5728\u4e8e\u4e24\u5927\u8f6c\u53d8\uff1a\u4ece\u51fa\u53e3\u5bfc\u5411\u8f6c\u5411\u5185\u9700\u5bfc\u5411\uff0c\u4ece\u623f\u5730\u4ea7\u8f6c\u5411\u5236\u9020\u4e1a\u3002\u5176\u4e2d\uff0c\u6fc0\u6d3b\u5185\u9700\u4ee5\u7edf\u4e00\u5927\u5e02\u573a\u4e3a\u6293\u624b\uff0c\u52a0\u901f\u5185\u90e8\u6d41\u901a\u4e0e\u4f53\u5236\u58c1\u5792\u6539\u9769\uff0c\u4ee5\u66f4\u597d\u6253\u901a\u4e0e\u5229\u7528\u5404\u5730\u8d44\u6e90\uff1b\u53d1\u529b\u5236\u9020\u4e1a\u8981\u5c06\u7eff\u8272\u3001\u6570\u5b57\u3001\u79d1\u6280\u4f5c\u4e3a\u751f\u4ea7\u529b\uff0c\u5f3a\u8c03\u63d0\u9ad8\u79d1\u6280\u542b\u91cf\u4e0e\u81ea\u4e3b\u53ef\u63a7\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5ed6\u5a1c\u8ba4\u4e3a\uff0c\u4e2d\u56fd\u8fd9\u4e00\u9636\u6bb5\u7684\u53d1\u5c55\uff0c\u4e00\u8981\u8d70\u7eff\u8272\u4f4e\u78b3\u8f6c\u578b\u4e4b\u8def\uff0c\u4e3a\u201c\u78b3\u8fbe\u5cf0\u201d\u505a\u51c6\u5907\uff1b\u4e8c\u8981\u6df1\u5316\u8f6c\u578b\u5347\u7ea7\u4e0e\u5408\u89c4\u7ba1\u7406\u3002\u201c\u4e2d\u56fd\u975e\u5e38\u575a\u5b9a\u5730\u8d70\u7eff\u8272\u4f4e\u78b3\u9053\u8def\uff0c\u5b9e\u4e3a\u4e00\u7bad\u4e09\u96d5\uff1a\u5b9e\u73b0\u5bf9\u5168\u7403\u7684\u51cf\u78b3\u627f\u8bfa\uff0c\u63d0\u9ad8\u81ea\u8eab\u7684\u80fd\u6e90\u5b89\u5168\u4e0e\u6218\u7565\u81ea\u4e3b\uff0c\u5e76\u5c06\u4e4b\u53d1\u5c55\u4e3a\u7ecf\u6d4e\u589e\u957f\u65b0\u52a8\u80fd\u3002\u201d\u5979\u8bf4\uff0c\u800c\u80fd\u6e90\u9886\u57df\u4f5c\u4e3a\u7ecf\u6d4e\u53d1\u5c55\u7684\u91cd\u8981\u652f\u6491\uff0c 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class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833089958583.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>2025\u5e749\u670816\u65e5\uff0c\u6c5f\u82cf\u7701\u6d77\u5b89\u5e02\u6ee8\u6d77\u65b0\u533a\uff0c\u6210\u7247\u7684\u5149\u4f0f\u53d1\u7535\u7ec4\u4ef6\u548c\u8038\u7acb\u7684\u98ce\u529b\u53d1\u7535\u673a\u7ec4\u3002\u56fe\uff1a\u5468\u5f3a\/\u89c6\u89c9\u4e2d\u56fd<\/p>\n\n\n\n<p>\u3000\u3000\u56de\u770b\u8fc7\u53bb\u5341\u5e74\uff0c\u4e2d\u56fd\u5236\u9020\u4e1a\u53ca\u80fd\u6e90\u4e1a\u90fd\u65b0\u4e0a\u4e86\u4e00\u4e2a\u5927\u53f0\u9636\u3002\u591a\u540d\u53d7\u8bbf\u4eba\u58eb\u6307\u51fa\uff0c\u201c\u5341\u4e09\u4e94\u201d\u4ee5\u6765\uff0c\u4e2d\u56fd\u653f\u5e9c\u5728\u89c4\u5212\u5236\u9020\u4e1a\u53d1\u5c55\u4e0a\u6293\u4f4f\u4e86\u673a\u9047\uff0c\u8d85\u524d\u4e14\u575a\u5b9a\u5730\u53d1\u5c55\u98ce\u80fd\u3001\u592a\u9633\u80fd\u7b49\u6e05\u6d01\u80fd\u6e90\uff0c\u5e76\u5728\u201c\u65b0\u4e09\u6837\u201d\uff08\u65b0\u80fd\u6e90\u6c7d\u8f66\u3001\u5149\u4f0f\u4ea7\u54c1\u3001\u9502\u7535\u6c60\uff09\u7b49\u9886\u57df\u57f9\u80b2\u51fa\u4e86\u89c4\u6a21\u7ecf\u6d4e\uff0cCCS\uff08\u78b3\u6355\u96c6\u4e0e\u5c01\u5b58\uff09\u3001\u7eff\u6c22\u4e43\u81f3\u70ed\u6cf5\u7b49\u65b0\u578b\u4f4e\u78b3\u6280\u672f\u4e5f\u53d6\u5f97\u4e86\u91cd\u5927\u8fdb\u5c55\uff0c\u5efa\u6210\u4e86\u5168\u7403\u89c4\u6a21\u6700\u5927\u7684\u7535\u529b\u4f9b\u5e94\u7cfb\u7edf\u548c\u6e05\u6d01\u53d1\u7535\u4f53\u7cfb\uff0c\u5e26\u9886\u5236\u9020\u4e1a\u767b\u4e0a\u9886\u8dd1\u4f4d\u7f6e\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833135886717.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>\u3000\u3000\u201c\u4e2d\u56fd\u65e5\u76ca\u8d70\u8fd1\u56fd\u9645\u821e\u53f0\u4e2d\u592e\uff0c\u4e00\u4e9b\u9886\u57df\u8d70\u5230\u4e86\u4e16\u754c\u524d\u6cbf\uff0c\u5f80\u524d\u8981\u81ea\u5df1\u63a2\u7d22\u3002\u201d<a href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/200487661?originReferrer=pcarticle\">\u5fb7\u52e4\u4e2d\u56fd<\/a>\u80fd\u6e90\u3001\u8d44\u6e90\u53ca\u5de5\u4e1a\u884c\u4e1a\u4e3b\u7ba1\u5408\u4f19\u4eba\u5415\u5ca9\u5982\u662f\u8bf4\u3002\u97e9\u96ea\u4e5f\u79f0\uff1a\u201c\u957f\u4e45\u4ee5\u6765\uff0c\u4e2d\u56fd\u7b2c\u4e00\u6b21\u51fa\u73b0\u5728\u67d0\u4e9b\u4ea7\u4e1a\u3001\u80fd\u6e90\u9886\u57df\u5168\u7403\u9886\u5148\uff0c\u5e0c\u671b\u80fd\u4fdd\u6301\u8fd9\u6837\u7684\u52bf\u5934\u3002\u201d<\/p>\n\n\n\n<p>\u3000\u3000\u5341\u5e74\u6765\uff0c\u4e2d\u56fd\u80fd\u6e90\u7ed3\u6784\u8c03\u6574\u8fdb\u5c55\u663e\u8457\u30022024\u5e74\uff0c\u7164\u70ad\u5728\u4e00\u6b21\u80fd\u6e90\u6d88\u8d39\u7ed3\u6784\u4e2d\u7684\u5360\u6bd4\u4e3a53.2%\uff0c\u8f832015\u5e74\u4e0b\u964d10.8\u4e2a\u767e\u5206\u70b9\uff1b\u539f\u6cb9\u6d88\u8d39\u5360\u6bd4\u5341\u5e74\u95f4\u7684\u53d8\u5316\u4e0d\u5927\uff0c\u7a33\u5b9a\u572818%\u5de6\u53f3\uff1b\u5305\u62ec\u5929\u7136\u6c14\u3001\u98ce\u80fd\u3001\u592a\u9633\u80fd\u3001\u6c34\u80fd\u3001\u6838\u80fd\u5728\u5185\u7684\u6e05\u6d01\u80fd\u6e90\u5360\u6bd4\u4e0a\u534710.7\u4e2a\u767e\u5206\u70b9\u81f328.6%\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u56fd\u5bb6\u80fd\u6e90\u5c40\u5c40\u957f<a href=\"https:\/\/s.ccxe.com.cn\/entities\/persons\/301001819?originReferrer=pcarticle\">\u738b\u5b8f\u5fd7<\/a>\u57288\u670826\u65e5\u7684\u56fd\u52a1\u9662\u65b0\u95fb\u529e\u53d1\u5e03\u4f1a\u4e0a\u8868\u793a\uff0c\u4e0b\u4e00\u6b65\u5c06\u4ee5\u66f4\u5927\u529b\u5ea6\u3001\u66f4\u5b9e\u4e3e\u63aa\u63a8\u52a8\u80fd\u6e90\u8f6c\u578b\u53d1\u5c55\uff0c\u5b9e\u73b02030\u5e74\u975e\u5316\u77f3\u80fd\u6e90\u6d88\u8d39\u6bd4\u91cd\uff08\u4e3b\u8981\u662f\u9664\u5929\u7136\u6c14\u5916\u7684\u6e05\u6d01\u80fd\u6e90\uff09\u518d\u63d0\u53475\u4e2a\u767e\u5206\u70b9\u3001\u8fbe\u523025%\u5de6\u53f3\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u4e2d\u56fd\u4e3a\u5b9e\u73b0\u201c\u53cc\u78b3\u201d\u76ee\u6807\u8bbe\u5b9a\u7684\u4e00\u5927\u6838\u5fc3\u6307\u6807\u662f\uff0c\u627f\u8bfa\u52302030\u5e74\u5355\u4f4d\u56fd\u5185\u751f\u4ea7\u603b\u503c\uff08GDP\uff09\u7684\u4e8c\u6c27\u5316\u78b3\u6392\u653e\u91cf\u8981\u6bd42005\u5e74\u4e0b\u964d65%\u4ee5\u4e0a\uff0c\u8fd9\u5bf9\u201c\u5341\u4e94\u4e94\u201d\u80fd\u6e90\u53d1\u5c55\u5f62\u6210\u4e86\u786c\u7ea6\u675f\uff0c\u5360\u603b\u78b3\u6392\u653e\u4e03\u516b\u6210\u7684\u80fd\u6e90\u9886\u57df\u662f\u51cf\u78b3\u7684\u4e3b\u6218\u573a\u3002\u97e9\u96ea\u8ba4\u4e3a\uff0c\u201c\u78b3\u8fbe\u5cf0\u201d\u76ee\u6807\u4f7f\u5f97\u5e02\u573a\u5bf9\u65b0\u80fd\u6e90\u88c5\u673a\u5728\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\u518d\u7ffb\u756a\u7684\u9884\u671f\u8f83\u4e3a\u660e\u786e\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833135398726.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>\u3000\u3000\u4e0e\u6b64\u540c\u65f6\uff0c\u4e2d\u56fd\u8fd8\u5c06\u4ece\u80fd\u8017\u201c\u53cc\u63a7\u201d\u8f6c\u5411\u78b3\u6392\u653e\u201c\u53cc\u63a7\u201d\u2014\u2014\u4ee5\u78b3\u6392\u653e\u5f3a\u5ea6\u63a7\u5236\u4e3a\u4e3b\u3001\u603b\u91cf\u63a7\u5236\u4e3a\u8f85\uff0c\u800c\u5bf9\u78b3\u6392\u653e\u7684\u8003\u91cf\u5c06\u6df1\u523b\u5f71\u54cd\u5236\u9020\u4e1a\u4e0e\u80fd\u6e90\u4e1a\u53d1\u5c55\u3002\u5ed6\u5a1c\u5c31\u6b64\u6307\u51fa\uff0c\u8fd9\u610f\u5473\u7740\u201c\u5341\u4e94\u4e94\u201d\u65b0\u4e0a\u7684\u80fd\u6e90\u9879\u76ee\u5c06\u4fa7\u91cd\u964d\u4f4e\u78b3\u5f3a\u5ea6\uff1b\u78b3\u7a0e\u4e0e\u78b3\u914d\u989d\u4ea4\u6613\u4e5f\u5c06\u662f\u91cd\u8981\u5de5\u4f5c\uff0c\u8981\u5c06\u78b3\u6838\u7b97\u653e\u8fdb\u6240\u6709\u9879\u76ee\u7684\u6295\u8d44\u6210\u672c\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u4f4e\u78b3\u8f6c\u578b\u8fdb\u7a0b\u4e2d\uff0c\u80fd\u6e90\u4e0e\u7535\u529b\u7684\u54ac\u5408\u52a0\u6df1\u3002\u201c\u7535\u6c14\u5316\u53d1\u5c55\u662f\u660e\u786e\u8d8b\u52bf\u3002\u201d<a href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/200010626?originReferrer=pcarticle\">\u4e2d\u5316\u80fd\u6e90<\/a>\u6b63\u9ad8\u7ea7\u7ecf\u6d4e\u5e08\u738b\u6d77\u6ee8\u8ba4\u4e3a\uff0c\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\u7684\u4e2d\u56fd\u7535\u6c14\u5316\u7387\u5c06\u6301\u7eed\u6500\u5347\u3002\u7535\u6c14\u5316\u7387\u662f\u6307\u7ec8\u7aef\u80fd\u6e90\u6d88\u8d39\u4e2d\u7684\u7528\u7535\u6bd4\u4f8b\u3002\u5f53\u524d\uff0c\u98ce\u3001\u5149\u53ca\u65b0\u80fd\u6e90\u6c7d\u8f66\u4ea7\u4e1a\u94fe\u4f53\u91cf\u8f83\u5927\uff0c\u5e26\u52a8\u6574\u4e2a\u7535\u529b\u4f9b\u5e94\u94fe\u53d1\u5c55\uff0c\u63a8\u52a8\u4e2d\u56fd\u7535\u6c14\u5316\u7387\u63a5\u8fd130%\uff0c\u5728\u5168\u7403\u5904\u5728\u9760\u524d\u4f4d\u7f6e\uff0c\u9ad8\u4e8e\u6b27\u7f8e\u7ea622%\u7684\u6bd4\u4f8b\u3002<\/p>\n\n\n\n<p>\u3000\u3000<a href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/200038903?originReferrer=pcarticle\">\u56fd\u5bb6\u80fd\u6e90\u96c6\u56e2<\/a>\u57289\u67088\u65e5\u53d1\u5e03\u7684\u300a\u4e2d\u56fd\u80fd\u6e90\u5c55\u671b2025\u20142060\u300b\u4e2d\u6307\u51fa\uff0c\u4e2d\u56fd\u80fd\u6e90\u6d88\u8d39\u603b\u91cf\u9884\u8ba1\u5728\u672a\u6765\u5341\u5e74\u521a\u6027\u589e\u957f\uff0c2035\u5e74\u524d\u540e\u8fbe71\u4ebf\u201472\u4ebf\u5428\u6807\u7164\uff0c\u8f83\u5f53\u524d\u8fd8\u6709\u7ea620%\u7684\u589e\u957f\u7a7a\u95f4\uff1b\u5168\u793e\u4f1a\u7528\u7535\u91cf\u5219\u5c06\u957f\u671f\u4fdd\u6301\u589e\u957f\u6001\u52bf\uff0c\u5176\u4e2d\u201c\u5341\u4e94\u4e94\u201d\u65f6\u671f\u7684\u5e74\u5747\u589e\u901f\u9884\u8ba1\u7ea64.5%\u3002\u6784\u5efa\u66f4\u7075\u6d3b\u3001\u66f4\u4f4e\u78b3\u3001\u66f4\u667a\u80fd\u4e14\u66f4\u5177\u97e7\u6027\u7684\u65b0\u578b\u7535\u529b\u7cfb\u7edf\uff0c\u662f\u672a\u6765\u4e94\u5e74\u7684\u53d1\u5c55\u91cd\u70b9\u3002<\/p>\n\n\n\n<p>\u3000\u3000<a href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/20147107588?originReferrer=pcarticle\">\u4e0a\u6d77\u79d1\u8fbe\u7406\u54a8\u8be2\u516c\u53f8<\/a>\u521b\u59cb\u4eba\u6ed5\u52c7\u5219\u79f0\uff0c\u56f4\u7ed5\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\u7684\u65b0\u578b\u7535\u529b\u7cfb\u7edf\u5efa\u8bbe\uff0c\u4f01\u4e1a\u5341\u5206\u5173\u5fc3\u98ce\u5149\u5927\u57fa\u5730\u3001\u6d77\u4e0a\u98ce\u7535\u3001\u6838\u7535\u4e43\u81f3\u6c34\u7535\u7b49\u7eff\u8272\u80fd\u6e90\u5efa\u8bbe\u7684\u5e02\u573a\u673a\u4f1a\uff1b\u4e0b\u6e38\u5206\u5e03\u5f0f\u80fd\u6e90\u53d1\u5c55\u3001\u865a\u62df\u7535\u7f51\u3001\u519c\u7f51\u6539\u9020\u7b49\u4e5f\u662f\u6295\u8d44\u91cd\u70b9\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e3b\u4f53\u80fd\u6e90\u5982\u4f55\u201c\u78b3\u8fbe\u5cf0\u201d<\/h2>\n\n\n\n<p>\u3000\u3000\u201c\u80fd\u6e90\u7ed3\u6784\u7684\u4f4e\u78b3\u5316\u901f\u5ea6\u52a0\u5feb\uff0c\u662f\u2018\u5341\u4e94\u4e94\u2019\u7684\u8d8b\u52bf\u4e4b\u4e00\u3002\u201d\u97e9\u96ea\u79f0\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u9996\u5148\uff0c\u7164\u70ad\u6d88\u8d39\u4ea7\u80fd\u589e\u51cf\u4e0e\u4f55\u65f6\u8fbe\u5cf0\u662f\u5e02\u573a\u7126\u70b9\uff0c\u4e5f\u662f\u80fd\u6e90\u7ed3\u6784\u8c03\u6574\u4e2d\u7684\u4e0d\u786e\u5b9a\u6027\u56e0\u7d20\u30022024\u5e74\uff0c\u7164\u7535\u884c\u4e1a\u78b3\u6392\u653e\u91cf\u7ea645\u4ebf\u5428\uff0c\u5360\u5168\u56fd\u78b3\u6392\u653e\u603b\u91cf\u4ecd\u9ad8\u8fbe\u7ea642%\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u7164\u70ad\u957f\u671f\u662f\u4e2d\u56fd\u80fd\u6e90\u6d88\u8d39\u7ed3\u6784\u4e2d\u7684\u201c\u538b\u8231\u77f3\u201d\u3002\u535a\u4f17\u667a\u5408\u80fd\u6e90\u8f6c\u578b\u4e2d\u56fd\u533a\u603b\u88c1\u6d82\u5efa\u519b\u6307\u51fa\uff0c\u4e2d\u56fd\u7164\u70ad\u8d44\u6e90\u4e30\u5bcc\uff0c\u5728\u4e0d\u5145\u5206\u8003\u8651\u5916\u90e8\u6027\u7684\u524d\u63d0\u4e0b\u6210\u672c\u76f8\u5bf9\u8f83\u4f4e\uff0c\u5728\u672a\u6765\u76f8\u5f53\u957f\u4e00\u6bb5\u65f6\u95f4\u5185\u4ecd\u662f\u80fd\u6e90\u6d88\u8d39\u7ed3\u6784\u4e2d\u7684\u91cd\u8981\u7ec4\u6210\u90e8\u5206\uff0c\u4f46\u89d2\u8272\u4f1a\u4ece\u201c\u4e3b\u4f53\u80fd\u6e90\u201d\u52a0\u901f\u8f6c\u5411\u627f\u62c5\u7535\u529b\u7cfb\u7edf\u8c03\u5cf0\u3001\u5bb9\u91cf\u4fdd\u969c\u4ee5\u53ca\u6781\u7aef\u60c5\u51b5\u4e0b\u7684\u80fd\u6e90\u5b89\u5168\u4fdd\u969c\u7b49\u4efb\u52a1\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u56fd\u5bb6\u7edf\u8ba1\u5c40\u6570\u636e\u663e\u793a\uff0c2024\u5e74\uff0c\u5168\u56fd\u7164\u70ad\u4ea7\u91cf\u8fbe47.8\u4ebf\u5428\uff0c\u540c\u6bd4\u589e\u957f1.2%\uff0c\u8fde\u7eed\u56db\u5e74\u521b\u5386\u53f2\u65b0\u9ad8\uff1b\u7535\u529b\u3001\u94a2\u94c1\u3001\u5efa\u6750\u3001\u5316\u5de5\u4ecd\u662f\u56db\u5927\u4e3b\u8981\u8017\u7164\u884c\u4e1a\uff0c\u5176\u4e2d\u7535\u529b\u7528\u7164\u5360\u6bd4\u56db\u5e74\u95f4\u4ecd\u5728\u4e94\u516d\u6210\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5de5\u4e1a\u7528\u7164\u5df2\u8fdb\u5165\u4e0b\u964d\u901a\u9053\uff0c\u7164\u70ad\u6d88\u8d39\u4f55\u65f6\u8fbe\u5cf0\u4e3b\u8981\u53d6\u51b3\u4e8e\u7535\u529b\u9700\u6c42\u3002\u4e0d\u8fc7\uff0c\u6d82\u5efa\u519b\u8ba4\u4e3a\uff0c\u201c\u5341\u4e94\u4e94\u201d\u65f6\u671f\uff0c\u4e2d\u56fd\u53d1\u7535\u7528\u7164\u53ef\u80fd\u5c0f\u5e45\u6ce2\u52a8\u6216\u9636\u6bb5\u6027\u4e0a\u884c\uff1b\u4f46\u8003\u8651\u5230\u65b0\u80fd\u6e90\u66ff\u4ee3\u52a0\u901f\u3001\u80fd\u6548\u6c34\u5e73\u63d0\u5347\uff0c\u7164\u70ad\u6d88\u8d39\u603b\u91cf\u6709\u671b\u8fdb\u5165\u5e73\u53f0\u6216\u4e0b\u884c\u901a\u9053\u2014\u2014\u4f46\u8fd9\u4e5f\u53d6\u51b3\u4e8e\u7cfb\u7edf\u7075\u6d3b\u6027\u8d44\u6e90\u90e8\u7f72\u548c\u5e02\u573a\u673a\u5236\u6539\u9769\u7684\u63a8\u52a8\u8fdb\u5c55\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u51fa\u4e8e\u7ed9\u6ce2\u52a8\u6027\u5927\u7684\u98ce\u5149\u65b0\u80fd\u6e90\u201c\u6258\u5e95\u201d\u7b49\u8003\u8651\uff0c\u90e8\u5206\u7701\u4efd\u4ecd\u5728\u4e0a\u9a6c\u65b0\u7684\u706b\u7535\u5382\uff0c2024\u5e74\u56fd\u5185\u706b\u7535\u88c5\u673a\u5bb9\u91cf\u540c\u6bd4\u589e\u957f3.8%\uff0c\u706b\u7535\u4ea7\u80fd\u5c0f\u5e45\u589e\u52a0\u3002\u4e00\u540d\u8d44\u6df1\u80fd\u6e90\u4e1a\u4eba\u58eb\u8ba4\u4e3a\uff0c\u5404\u5730\u9700\u8981\u601d\u8003\u4f55\u65f6\u8ba9\u5f53\u5730\u5316\u77f3\u80fd\u6e90\u589e\u91cf\u6e05\u96f6\uff0c\u6216\u5728\u5316\u77f3\u80fd\u6e90\u5185\u90e8\u8fdb\u884c\u66ff\u4ee3\u6027\u8c03\u6574\uff0c\u5982\u589e\u52a0\u5929\u7136\u6c14\u3001\u51cf\u5c11\u7164\u70ad\u7528\u91cf\uff0c\u624d\u80fd\u57282030\u5e74\u524d\u5b9e\u73b0\u201c\u78b3\u8fbe\u5cf0\u201d\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u7164\u70ad\u7684\u4f5c\u7528\u5728\u8f6c\u5411\u6750\u6599\u5e94\u7528\u9886\u57df\u3002\u5415\u5ca9\u8ba4\u4e3a\uff0c\u672a\u6765\u4f1a\u8fdb\u4e00\u6b65\u5f3a\u5316\u7164\u70ad\u7684\u6e05\u6d01\u7eff\u8272\u8f6c\u578b\uff1b\u82e5\u6cb9\u4ef7\u957f\u671f\u572860\u201470\u7f8e\u5143\u6bcf\u6876\uff0c\u7164\u5316\u5de5\u6709\u671b\u5927\u5e45\u589e\u957f\uff0c\u5c24\u5176\u662f\u7164\u5236\u70ef\u70c3\u548c\u7164\u5236\u6cb9\u6c14\u3002\u5316\u5de5\u7528\u7164\u662f\u7164\u70ad\u9700\u6c42\u7684\u4e3b\u8981\u589e\u957f\u70b9\uff0c\u5fb7\u52e4\u6570\u636e\u663e\u793a\uff0c\u8fc7\u53bb\u51e0\u5e74\uff0c\u5316\u5de5\u7164\u6d88\u8d39\u91cf\u5e74\u5747\u590d\u5408\u589e\u957f\u7387\uff08CAGR\uff09\u8fbe9.7%\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u636e\u4e2d\u56fd\u7164\u70ad\u5de5\u4e1a\u534f\u4f1a\u9884\u6d4b\uff0c\u4e2d\u56fd\u7164\u70ad\u6d88\u8d39\u603b\u91cf\u6709\u671b\u57282028\u5e74\u524d\u540e\u8fdb\u5165\u5cf0\u503c\u5e73\u53f0\u671f\uff0c\u5e76\u5728\u6b64\u6301\u7eed\u7ea65\u201410\u5e74\u3002\u201c\u2018\u5341\u4e94\u4e94\u2019\u548c\u2018\u5341\u516d\u4e94\u2019\u662f\u4e2d\u56fd\u7164\u70ad\u884c\u4e1a\u7684\u8f6c\u578b\u5173\u952e\u671f\uff0c\u5c06\u4ece\u957f\u67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class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833136127833.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>\u3000\u3000\u591a\u4f4d\u4e1a\u5185\u4eba\u58eb\u8fd8\u6307\u51fa\uff0c\u4e2d\u56fd\u6c34\u7535\u4e0e\u6838\u7535\u6280\u672f\u4e5f\u5168\u7403\u9886\u5148\uff0c\u9884\u8ba1\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\u7a33\u6b65\u53d1\u5c55\u3002\u201c\u6c34\u7535\u4e0e\u6838\u7535\u5728\u7a33\u59a5\u60c5\u51b5\u4e0b\uff0c\u80fd\u8d70\u591a\u5feb\u5c31\u8d70\u591a\u5feb\u3002\u201d\u97e9\u96ea\u79f0\u30022024\u5e74\uff0c\u4e2d\u56fd\u6c34\u7535\u4e0e\u6838\u7535\u88c5\u673a\u5206\u522b\u5360\u6bd413%\u30011.8%\uff0c\u53d1\u7535\u5360\u6bd4\u5206\u522b\u572814.1%\u30014.5%\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u4e2d\u56fd\u6838\u7535\u673a\u7ec4\u5ba1\u6279\u660e\u663e\u63d0\u901f\uff0c\u5df2\u8fde\u7eed3\u5e74\u6bcf\u5e74\u6838\u51c6\u6838\u7535\u673a\u7ec410\u53f0\u53ca\u4ee5\u4e0a\uff1b\u81f32024\u5e74\uff0c\u4e2d\u56fd\u6838\u7535\u5de5\u7a0b\u5efa\u8bbe\u6295\u8d44\u5b8c\u6210\u989d\u521b\u65b0\u9ad8\u81f31469\u4ebf\u5143\uff0c\u540c\u6bd4\u5927\u589e54.79%\u3002\u540c\u5e74\uff0c\u4e2d\u56fd\u6c34\u5229\u5efa\u8bbe\u6295\u8d44\u540c\u6837\u521b\u5386\u53f2\u65b0\u9ad8\u81f31.35\u4e07\u4ebf\u5143\uff0c\u540c\u6bd4\u589e\u957f12.8%\u3002\u800c\u5f53\u524d\u65b0\u589e\u7684\u6c34\u7535\u9879\u76ee\u4e2d\uff0c\u6700\u5f15\u4eba\u6ce8\u76ee\u7684\u83ab\u8fc7\u4e8e2025\u5e747\u6708\u5f00\u5de5\u3001\u603b\u6295\u8d441.2\u4e07\u4ebf\u5143\u7684\u96c5\u9c81\u85cf\u5e03\u6c5f\u4e0b\u6e38\u6c34\u7535\u5de5\u7a0b\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u80fd\u6e90\u6295\u8d44\u6700\u7ec8\u9700\u8981\u5546\u4e1a\u6a21\u5f0f\u95ed\u73af\u3002\u5415\u5ca9\u5f3a\u8c03\uff0c\u8fc7\u53bb18\u201424\u4e2a\u6708\uff0c\u5168\u7403\u80fd\u6e90\u53ca\u8d44\u6e90\u9886\u57df\u7684\u4e3b\u8981\u6295\u8d44\u56f4\u7ed5\u5728\u5229\u6da6\u738710%\u4ee5\u4e0a\u7684\u6cb9\u6c14\u3001\u77ff\u4e1a\u7b49\u9886\u57df\u3002\u6574\u4f53\u800c\u8a00\uff0c\u6cb9\u6c14\u6295\u8d44\u5728\u6574\u4e2a\u80fd\u6e90\u7cfb\u7edf\u4e2d\u4ecd\u4e0d\u5c0f\uff0c\u201c\u5341\u4e94\u4e94\u201d\u65f6\u671f\uff0c\u4e2d\u56fd\u7684\u6cb9\u6c14\u4f9b\u5e94\u6765\u6e90\u5c06\u66f4\u52a0\u591a\u5143\u5316\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u738b\u6d77\u6ee8\u63d0\u51fa\uff0c\u4ea4\u901a\u9886\u57df\u7387\u5148\u7535\u6c14\u5316\uff0c\u77f3\u6cb9\u4f5c\u4e3a\u52a8\u529b\u71c3\u6599\u7684\u529f\u80fd\u6b63\u88ab\u7535\u529b\u52a0\u901f\u66ff\u4ee3\uff0c\u6c7d\u6cb9\u4e0e\u67f4\u6cb9\u6d88\u8d39\u5728\u524d\u4e24\u5e74\u8fbe\u5cf0\uff0c\u672a\u6765\u9884\u8ba1\u6301\u7eed\u4e0b\u964d\uff1b\u56fd\u5185\u77f3\u6cb9\u6d88\u8d39\u9884\u8ba1\u57282030\u5e74\u524d\u8fbe\u5cf0\uff0c\u77f3\u6cb9\u5c06\u66f4\u591a\u4ee5\u539f\u6599\u5f62\u5f0f\u7528\u4e8e\u77f3\u5316\u9886\u57df\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5929\u7136\u6c14\u4f5c\u4e3a\u5316\u77f3\u80fd\u6e90\u4e2d\u7684\u6e05\u6d01\u80fd\u6e90\uff0c\u53d1\u7535\u542f\u52a8\u5feb\u3001\u53ef\u534f\u52a9\u7535\u7f51\u8c03\u63a7\u548c\u5907\u7528\uff0c\u56e0\u6b64\u88ab\u5b9a\u4f4d\u4e3a\u201c\u8fc7\u6e21\u201d\u80fd\u6e90\u3002\u591a\u5bb6\u673a\u6784\u8ba4\u4e3a\uff0c\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\uff0c\u4e2d\u56fd\u5929\u7136\u6c14\u6d88\u8d39\u91cf\u9884\u8ba1\u7a33\u6b65\u63d0\u5347\uff0c\u52302030\u5e74\u5c06\u8fbe\u52306000\u4ebf\u7acb\u65b9\u7c73\u5de6\u53f3\u7684\u5cf0\u503c\u5e73\u53f0\u671f\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u5e02\u573a\u5316\u6539\u9769\u65b9\u5411<\/h2>\n\n\n\n<p>\u3000\u3000\u97e9\u96ea\u6307\u51fa\uff0c\u8d8a\u662f\u590d\u6742\u7684\u80fd\u6e90\u7cfb\u7edf\uff0c\u8d8a\u8981\u5584\u7528\u5e02\u573a\u4e4b\u624b\u3002\u8fc7\u53bb\u5341\u5e74\uff0c\u4e2d\u56fd\u7684\u4ea7\u4e1a\u653f\u7b56\u6574\u4f53\u6293\u4f4f\u4e86\u65f6\u4ee3\u673a\u9047\uff0c\u672a\u6765\u4e94\u5e74\u66f4\u91cd\u8981\u7684\u662f\u901a\u8fc7\u6df1\u5316\u4f53\u5236\u673a\u5236\u6539\u9769\u7b49\u4e3e\u63aa\uff0c\u6316\u6398\u80fd\u6e90\u4f53\u7cfb\u7684\u6f5c\u529b\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u7535\u662f\u80fd\u6e90\u6539\u9769\u7684\u91cd\u4e2d\u4e4b\u91cd\u3002\u4e2d\u56fd\u6c34\u5229\u7535\u529b\u8d28\u91cf\u7ba1\u7406\u534f\u4f1a\u65d7\u4e0b\u6c34\u5229\u7535\u529b\u8d28\u91cf\u53d1\u5c55\u7814\u7a76\u9662\u8ba4\u4e3a\uff0c\u201c\u5341\u4e09\u4e94\u201d\u4ee5\u6765\uff0c\u968f\u7740\u65b0\u80fd\u6e90\u88c5\u673a\u5bb9\u91cf\u589e\u957f\u3001\u5206\u5e03\u5f0f\u80fd\u6e90\u6d8c\u73b0\uff0c\u51fa\u73b0\u4e86\u7ed3\u6784\u6027\u538b\u529b\uff0c\u6574\u4e2a\u7535\u529b\u5de5\u4e1a\u6b63\u4ece\u91cf\u53d8\u8fdb\u5165\u8d28\u53d8\u3002\u5728\u7eff\u8272\u4f4e\u78b3\u53d1\u5c55\u8fdb\u7a0b\u4e2d\uff0c\u5e94\u91cd\u65b0\u8ba4\u8bc6\u7535\u7f51\u7684\u4f5c\u7528\uff1a\u5176\u4e0d\u53ea\u662f\u7535\u80fd\u4f20\u8f93\u8f7d\u4f53\uff0c\u66f4\u662f\u80fd\u6e90\u6d41\u901a\u4e0e\u7ecf\u6d4e\u7545\u901a\u7684\u91cd\u8981\u8282\u70b9\uff0c\u5728\u5e73\u8861\u201c\u53cc\u78b3\u76ee\u6807\u201d\u4e0e\u201c\u7cfb\u7edf\u6210\u672c\u201d\u4e4b\u95f4\u53d1\u6325\u4e0d\u53ef\u6216\u7f3a\u7684\u5e73\u53f0\u4f5c\u7528\uff0c\u5728\u5e02\u573a\u8c03\u52a8\u8d44\u6e90\u4e2d\u53d1\u6325\u57fa\u7840\u6027\u4f5c\u7528\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833089859763.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>2025\u5e744\u670828\u65e5\uff0c\u6d59\u6c5f\u53f0\u5dde\u7389\u73af\u5e02\u82a6\u6d66\u9547\uff0c550\u5343\u4f0f\u7389\u58585429\u7ebf\u8def\u5de5\u7a0b\u65bd\u5de5\u73b0\u573a\uff0c\u56fd\u7f51\u7389\u73af\u4f9b\u7535\u516c\u53f8\u7684\u65bd\u5de5\u4eba\u5458\u6b63\u5728\u67b6\u8bbe\u9ad8\u538b\u7535\u7ebf\u3002\u56fe:\u5434\u8fbe\u592b\/\u89c6\u89c9\u4e2d\u56fd<\/p>\n\n\n\n<p>\u3000\u3000\u65b0\u80fd\u6e90\u53d1\u7535\u6210\u672c\u4e0b\u964d\u7684\u901f\u5ea6\u8d85\u8fc7\u9884\u671f\uff0c\u5927\u91cf\u65b0\u80fd\u6e90\u6295\u8d44\u6d8c\u5165\uff0c\u4f46\u7535\u7f51\u57fa\u7840\u8bbe\u65bd\u3001\u667a\u80fd\u6539\u9020\uff0c\u4ee5\u53ca\u62bd\u84c4\u3001\u50a8\u80fd\u3001\u7164\u7535\u7075\u6d3b\u6027\u6539\u9020\u7b49\u8c03\u8282\u80fd\u529b\u7684\u5efa\u8bbe\u4e0d\u8db3\uff1b\u6d77\u91cf\u7684\u6ce2\u52a8\u6027\u7535\u6e90\u878d\u5165\u7535\u7f51\uff0c\u8fd8\u5bfc\u81f4\u6295\u8d44\u5229\u7528\u7387\u4e0b\u964d\u95ee\u9898\u65e5\u76ca\u51f8\u663e\u3002\u56fd\u5bb6\u80fd\u6e90\u5c40\u7535\u529b\u53f8\u53f8\u957f\u675c\u5fe0\u660e\u5728\u524d\u8ff0\u53d1\u5e03\u4f1a\u4e0a\u5f62\u5bb9\uff1a\u201c\u8fd9\u662f\u65b0\u80fd\u6e90\u2018\u6210\u957f\u7684\u70e6\u607c\u2019\uff0c\u5c31\u597d\u6bd4\u5b69\u5b50\u957f\u8eab\u4f53\uff0c\u957f\u5f97\u5feb\u662f\u597d\u4e8b\uff0c\u4f46\u6709\u65f6\u5019\u4e5f\u4f1a\u9047\u5230\u2018\u8863\u670d\u4e0d\u5408\u8eab\u2019\u7684\u95ee\u9898\u3002\u201d2024\u5e74\uff0c\u4e2d\u56fd\u98ce\u5149\u88c5\u673a\u5360\u6bd4\u8fbe\u523042%\uff0c\u4f46\u53d1\u7535\u5360\u6bd4\u53ea\u572818%\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u675c\u5fe0\u660e\u6307\u51fa\uff0c\u65b0\u80fd\u6e90\u6d88\u7eb3\u662f\u4e00\u9879\u7cfb\u7edf\u5de5\u7a0b\uff0c\u987b\u5408\u7406\u5e03\u5c40\u96c6\u4e2d\u5f0f\u4e0e\u5206\u5e03\u5f0f\u65b0\u80fd\u6e90\uff0c\u52a0\u5f3a\u4e3b\u7f51\u3001\u914d\u7f51\u3001\u5fae\u7535\u7f51\u5efa\u8bbe\uff0c\u5efa\u7acb\u5168\u56fd\u7edf\u4e00\u7535\u529b\u5e02\u573a\uff0c\u6269\u5927\u5e02\u573a\u5316\u4ea4\u6613\u89c4\u6a21\uff1b\u540c\u65f6\u53d1\u6325\u9700\u6c42\u4fa7\u7075\u6d3b\u6027\uff0c\u53d1\u5c55\u865a\u62df\u7535\u5382\u548c\u8f66\u7f51\u4e92\u52a8\uff0c\u63a8\u52a8\u5c31\u5730\u6d88\u7eb3\uff0c\u5747\u662f\u6709\u6548\u624b\u6bb5\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u97e9\u96ea\u63d0\u9192\uff0c\u5e94\u907f\u514d\u8fc7\u5ea6\u5f3a\u8c03\u98ce\u5149\u5229\u7528\u7387\u3002\u201c\u65b0\u80fd\u6e90\u4f01\u4e1a\u5f80\u5f80\u66f4\u770b\u91cd\u5229\u6da6\uff0c\u800c\u975e\u7edd\u5bf9\u5229\u7528\u7387\u3002\u5373\u4fbf\u5f03\u753520%\uff0c\u53ea\u8981\u5229\u6da6\u7387\u80fd\u7ef4\u6301\u57286%\u81f38%\uff0c\u9879\u76ee\u4ecd\u6709\u5438\u5f15\u529b\u3002\u201d<\/p>\n\n\n\n<p>\u3000\u3000\u5979\u8fd8\u5f3a\u8c03\u5e02\u573a\u673a\u5236\u7684\u91cd\u8981\u6027\uff1a\u201c\u4e00\u4e2a\u7406\u60f3\u7684\u5e02\u573a\uff0c\u80fd\u5e2e\u52a9\u786e\u5b9a\u5408\u7406\u7684\u5229\u7528\u7387\u533a\u95f4\uff0c\u627e\u5230\u5404\u65b9\u63a5\u53d7\u7684\u4ef7\u683c\u951a\u70b9\u3002\u968f\u7740\u7535\u529b\u5e02\u573a\u7684\u5b8c\u5584\uff0c\u884c\u653f\u65b9\u5f0f\u786e\u5b9a\u4ef7\u683c\u548c\u6d88\u7eb3\u7387\u6765\u4fdd\u969c\u6536\u76ca\u7684\u505a\u6cd5\u53ef\u4ee5\u9010\u6b65\u9000\u5761\u3002\u8fc7\u5ea6\u6295\u8d44\u8c03\u8282\u8d44\u6e90\u4ee5\u8ffd\u6c42\u2018\u6ee1\u6d88\u7eb3\u2019\u672a\u5fc5\u7ecf\u6d4e\u5408\u7406\uff0c\u5e02\u573a\u673a\u5236\u7684\u4f5c\u7528\u5c31\u5728\u4e8e\u6210\u672c\u6bd4\u8f83\u3002\u201d<\/p>\n\n\n\n<p>\u3000\u3000\u6d82\u5efa\u519b\u8fdb\u4e00\u6b65\u6307\u51fa\uff0c\u6784\u5efa\u4ee5\u53ef\u518d\u751f\u80fd\u6e90\u4e3a\u4e3b\u4f53\u7684\u65b0\u578b\u7535\u529b\u7cfb\u7edf\uff0c\u5173\u952e\u5728\u4e8e\u63d0\u5347\u7cfb\u7edf\u7075\u6d3b\u6027\u4e0e\u53ef\u8c03\u8282\u6027\uff0c\u5f3a\u5316\u591a\u7c7b\u578b\u50a8\u80fd\u8d44\u6e90\u7684\u7edf\u7b79\u8bbe\u8ba1\u4e0e\u4e92\u8865\u5e94\u7528\u3002\u4f46\u5f53\u524d\uff0c\u5bb9\u91cf\u8865\u507f\u3001\u8f85\u52a9\u670d\u52a1\u548c\u73b0\u8d27\u4ea4\u6613\u7b49\u5e02\u573a\u673a\u5236\u3001\u6210\u672c\u758f\u5bfc\u673a\u5236\u4ecd\u4e0d\u5065\u5168\uff0c\u914d\u7f51\u5e02\u573a\u5316\u6295\u8d44\u53d7\u9650\uff0c\u7701\u95f4\u7535\u529b\u4ea4\u6613\u5b58\u5728\u58c1\u5792\uff0c\u9694\u5899\u552e\u7535\u4e45\u8bae\u672a\u51b3\uff0c\u7eff\u7535\u76f4\u8fde\u7684\u914d\u5957\u7ec6\u5219\u6709\u5f85\u5b8c\u5584\u3002\u56f4\u7ed5\u7535\u7f51\u4ea7\u4e1a\u94fe\u8f93\u7535\u3001\u914d\u7535\u3001\u552e\u7535\u7b49\u73af\u8282\u7684\u5e02\u573a\u5316\u6539\u9769\u6709\u5f85\u6df1\u5316\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u7535\u529b\u5e02\u573a\u6539\u9769\u662f\u201c\u5341\u4e94\u4e94\u201d\u80fd\u6e90\u9886\u57df\u7684\u53e6\u4e00\u4e2a\u70ed\u70b9\uff0c\u4e0e\u53d1\u5c55\u65b0\u80fd\u6e90\u4e3a\u8054\u52a8\u8bae\u9898\u3002\u201c\u5341\u56db\u4e94\u201d\u671f\u95f4\uff0c\u53d1\u7535\u4fa7\u7684\u7164\u7535\u3001\u65b0\u80fd\u6e90\u5168\u9762\u8fdb\u5165\u5e02\u573a\uff0c\u6b63\u8c0b\u6c42\u63d0\u9ad8\u4ea4\u6613\u89c4\u6a21\u4e0e\u4ea7\u54c1\u54c1\u7c7b\uff1b\u7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href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/200037202?originReferrer=pcarticle\">\u56fd\u5bb6\u7535\u7f51\u6709\u9650\u516c\u53f8<\/a>\u526f\u603b\u5de5\u7a0b\u5e08\u517c\u56fd\u7f51\u80fd\u6e90\u7814\u7a76\u9662\u8463\u4e8b\u6b27\u9633\u660c\u88d58\u6708\u5728\u4e00\u573a\u884c\u4e1a\u8bba\u575b\u4e2d\u8868\u793a\u3002\u56e0\u6b64\uff0c\u201c\u5341\u4e94\u4e94\u201d\u9700\u8981\u9ad8\u5ea6\u91cd\u89c6\u7cfb\u7edf\u6210\u672c\u89c4\u6a21\u3001\u7ed3\u6784\u3001\u5e03\u5c40\u4e0e\u6d88\u5316\uff1b\u79ef\u6781\u7a33\u59a5\u63a8\u8fdb\u5404\u7c7b\u7ecf\u6d4e\u5c5e\u6027\u4e3b\u4f53\u5168\u9762\u5165\u5e02\uff0c\u5efa\u7acb\u79d1\u5b66\u7684\u7535\u4ef7\u673a\u5236\uff0c\u4ee5\u786e\u4fdd\u5145\u88d5\u7684\u6709\u6548\u5bb9\u91cf\u548c\u7075\u6d3b\u8c03\u8282\u80fd\u529b\uff0c\u5b9e\u73b0\u5e02\u573a\u516c\u5e73\u6709\u5e8f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833136369541.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>\u3000\u3000\u8fc7\u53bb\uff0c\u5bf9\u98ce\u7535\u3001\u5149\u4f0f\u7b49\u65b0\u80fd\u6e90\u9879\u76ee\u6295\u8d44\u5f3a\u5236\u8981\u6c42\u201c\u914d\u50a8\u201d\uff0c\u4ee5\u50a8\u80fd\u8bbe\u65bd\u8f85\u52a9\u7535\u529b\u50a8\u5b58\u548c\u6d88\u7eb3\uff0c\u4f46\u4e5f\u63a8\u9ad8\u4e86\u6210\u672c\u30022025\u5e742\u67089\u65e5\uff0c\u56fd\u5bb6\u53d1\u6539\u59d4\u3001\u56fd\u5bb6\u80fd\u6e90\u5c40\u8054\u5408\u53d1\u5e03\u300a\u5173\u4e8e\u6df1\u5316\u65b0\u80fd\u6e90\u4e0a\u7f51\u7535\u4ef7\u5e02\u573a\u5316\u6539\u9769\u4fc3\u8fdb\u65b0\u80fd\u6e90\u9ad8\u8d28\u91cf\u53d1\u5c55\u7684\u901a\u77e5\u300b\uff0c\u63d0\u51fa\u4e0d\u5f97\u5c06\u50a8\u80fd\u4f5c\u4e3a\u65b0\u5efa\u65b0\u80fd\u6e90\u9879\u76ee\u6838\u51c6\u3001\u5e76\u7f51\u4ee5\u53ca\u4e0a\u7f51\u65f6\u7684\u524d\u7f6e\u6761\u4ef6\u3002\u56fd\u5bb6\u80fd\u6e90\u5c406\u6708\u53d1\u5e03\u7684\u4e00\u4efd\u62a5\u544a\u8868\u793a\uff0c\u9700\u5398\u6e05\u201c\u5341\u4e94\u4e94\u201d\u65b0\u578b\u50a8\u80fd\u5728\u6784\u5efa\u65b0\u578b\u7535\u529b\u7cfb\u7edf\u4e2d\u7684\u4f5c\u7528\uff0c\u7814\u7a76\u5b8c\u5584\u8c03\u8282\u6027\u8d44\u6e90\u4ef7\u683c\u673a\u5236\uff0c\u5408\u7406\u5f15\u5bfc\u65b0\u578b\u50a8\u80fd\u6295\u8d44\u3002<\/p>\n\n\n\n<p>\u3000\u3000<a href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/200174640?originReferrer=pcarticle\">\u4e2d\u7535\u5efa\u65b0\u80fd\u6e90\u96c6\u56e2<\/a>\u65b0\u80fd\u6e90\u4e0e\u50a8\u80fd\u7814\u7a76\u9662\u526f\u9662\u957f\u5218\u5cfb\u8868\u793a\uff0c\u50a8\u80fd\u539f\u6765\u96c6\u4e2d\u5728\u7535\u6e90\u4fa7\uff0c\u76f8\u5f53\u5927\u90e8\u5206\u53d8\u6210\u4e86\u6c89\u6ca1\u8d44\u4ea7\uff0c\u73b0\u5728\u7535\u6e90\u4fa7\u4e0d\u5f3a\u5236\u914d\u50a8\u4e86\uff0c\u9700\u6c42\u81ea\u7136\u4f1a\u5411\u7535\u7f51\u4fa7\u3001\u7528\u6237\u4fa7\u96c6\u4e2d\uff1b\u90a3\u4e9b\u5cf0\u8c37\u5957\u5229\u4ef7\u683c\u9ad8\u3001\u7535\u529b\u8c03\u7528\u91cf\u591a\u7684\u533a\u57df\uff0c\u5c31\u4f1a\u6709\u52a8\u529b\u53bb\u5efa\u8bbe\u72ec\u7acb\u50a8\u80fd\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u540c\u65f6\uff0c\u5e02\u573a\u5e76\u975e\u5929\u7136\u5b8c\u7f8e\uff0c\u9700\u8981\u52a0\u5f3a\u76d1\u7ba1\u3002\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\uff0c\u7535\u529b\u5e02\u573a\u5efa\u8bbe\u7684\u53e6\u4e00\u91cd\u6311\u6218\u662f\u76d1\u7ba1\u80fd\u529b\u3002\u201c\u5982\u679c\u7f3a\u4e4f\u6709\u6548\u76d1\u7ba1\uff0c\u5e02\u573a\u8fd0\u884c\u5f88\u53ef\u80fd\u51fa\u73b0\u5f31\u8089\u5f3a\u98df\u548c\u4e0d\u5408\u7406\u6295\u673a\uff0c\u4e0d\u4ec5\u5f71\u54cd\u80fd\u6e90\u5b89\u5168\uff0c\u4e5f\u635f\u5bb3\u6295\u8d44\u6548\u7387\u3002\u201d\u97e9\u96ea\u6307\u51fa\uff0c\u5f53\u524d\uff0c\u73b0\u8d27\u5e02\u573a\u3001\u4e2d\u957f\u671f\u5e02\u573a\u3001\u8f85\u52a9\u670d\u52a1\u5e02\u573a\u7b49\u7535\u529b\u5e02\u573a\u57fa\u672c\u67b6\u6784\u5df2\u7ecf\u5efa\u7acb\u8d77\u6765\uff0c\u4f46\u5404\u5730\u7535\u529b\u5e02\u573a\u76d1\u7ba1\u529b\u91cf\u8fd8\u6bd4\u8f83\u8584\u5f31\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u201c\u2018\u5341\u4e94\u4e94\u2019\u671f\u95f4\uff0c\u7535\u529b\u5e02\u573a\u76d1\u7ba1\u4f53\u7cfb\u4e9f\u987b\u5347\u7ea7\uff0c\u4e00\u65b9\u9762\u53ef\u4ee5\u5229\u7528\u6570\u5b57\u5316\u4e0eAI\uff08\u4eba\u5de5\u667a\u80fd\uff09\u5de5\u5177\u63d0\u5347\u6548\u7387\uff1b\u53e6\u4e00\u65b9\u9762\u8981\u5f62\u6210\u591a\u90e8\u95e8\u5408\u529b\uff0c\u5305\u62ec\u80fd\u6e90\u76d1\u7ba1\u673a\u6784\u3001\u5e02\u573a\u76d1\u7ba1\u3001\u4ef7\u683c\u76d1\u7ba1\u7b49\u90e8\u95e8\u5f62\u6210\u5408\u529b\uff0c\u660e\u786e\u5206\u5de5\u3001\u5171\u4eab\u4fe1\u606f\uff0c\u907f\u514d\u76d1\u7ba1\u7a7a\u767d\u4e0e\u4ea4\u53c9\u3002\u201d\u97e9\u96ea\u5efa\u8bae\uff0c\u540c\u65f6\u4e5f\u987b\u5f3a\u5316\u884c\u4e1a\u81ea\u5f8b\uff0c\u5404\u5e02\u573a\u4e3b\u4f53\u90fd\u8981\u89c4\u8303\u4fe1\u606f\u62ab\u9732\u7b49\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u97e9\u96ea\u8fdb\u4e00\u6b65\u6307\u51fa\uff0c\u201c\u5341\u4e94\u4e94\u201d\u7684\u53e6\u4e00\u5927\u91cd\u70b9\u4efb\u52a1\u662f\u5efa\u7acb\u76f8\u5bf9\u7a33\u5b9a\u3001\u8fd0\u884c\u826f\u597d\u7684\u73b0\u8d27\u5e02\u573a\u4f53\u7cfb\uff1b\u540c\u65f6\u53d1\u5c55\u8f85\u52a9\u670d\u52a1\u5e02\u573a\uff0c\u786e\u4fdd\u8f85\u52a9\u670d\u52a1\u7684\u8986\u76d6\u8303\u56f4\u591f\u5927\u3001\u54c1\u79cd\u591f\u591a\u3002\u76ee\u524d\uff0c\u8f85\u52a9\u670d\u52a1\u5e02\u573a\u7531\u7535\u7f51\u5b9a\u4ef7\uff0c\u8fd8\u9700\u5b8c\u5584\u4ef7\u683c\u53d1\u73b0\u673a\u5236\uff0c\u5e76\u6fc0\u52b1\u50a8\u80fd\u3001\u62bd\u84c4\u7b49\u5bb9\u91cf\u670d\u52a1\u5e02\u573a\u3002\u6b64\u5916\uff0c\u65e0\u8bba\u4f20\u7edf\u8d44\u6e90\u8fd8\u662f\u65b0\u80fd\u6e90\u90fd\u5b58\u5728\u5730\u57df\u5206\u5e03\u4e0d\u5747\u7684\u60c5\u51b5\uff0c\u8fd8\u9700\u5b8c\u5584\u8de8\u7701\u8de8\u533a\u4ea4\u6613\u89c4\u5219\uff0c\u5145\u5206\u53d1\u6325\u7279\u9ad8\u538b\u3001\u98ce\u5149\u5927\u57fa\u5730\u7b49\u5de8\u91cf\u6295\u8d44\u7684\u5e94\u6709\u4f5c\u7528\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u672a\u6765\u4e94\u5e74\uff0c\u4e2d\u56fd\u7535\u529b\u7cfb\u7edf\u5c06\u9762\u4e34\u591a\u91cd\u6311\u6218\u3002\u4e00\u65b9\u9762\uff0c\u201c\u5341\u4e94\u4e94\u201d\u53ef\u518d\u751f\u80fd\u6e90\u53d1\u7535\u91cf\u5360\u6bd4\u5c06\u903c\u8fd125%\uff0c\u7ee7\u7eed\u63d0\u5347\u5c06\u663e\u8457\u5f71\u54cd\u7cfb\u7edf\u7a33\u5b9a\u6027\uff0c\u63a8\u9ad8\u5bf9\u7cfb\u7edf\u8c03\u8282\u80fd\u529b\u7684\u9700\u6c42\u548c\u7cfb\u7edf\u8fd0\u884c\u6210\u672c\uff1b\u53e6\u4e00\u65b9\u9762\uff0c\u6e90\u3001\u7f51\u3001\u8377\u3001\u50a8\u5404\u73af\u8282\u90fd\u6709\u591a\u5143\u5316\u5e02\u573a\u4e3b\u4f53\u6d8c\u5165\uff0c\u5229\u76ca\u683c\u5c40\u4e9f\u5f85\u91cd\u6784\uff1b\u540c\u65f6\uff0c\u6781\u7aef\u5929\u6c14\u9891\u53d1\u4e5f\u52a0\u5267\u4e86\u4f9b\u9700\u4e0d\u786e\u5b9a\u6027\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u201c\u672a\u6765\u4e94\u5e74\u662f\u4e2d\u56fd\u5b9e\u73b0\u2018\u78b3\u8fbe\u5cf0\u2019\u76ee\u6807\u7684\u5173\u952e\u4e94\u5e74\uff0c\u662f\u65b0\u578b\u7535\u529b\u7cfb\u7edf\u5efa\u8bbe\u7684\u52a0\u901f\u8f6c\u578b\u671f\uff0c\u9700\u8981\u5f3a\u5316\u9876\u5c42\u8bbe\u8ba1\u548c\u7cfb\u7edf\u6027\u89e3\u51b3\u65b9\u6848\u3002\u201d\u81ea\u7136\u8d44\u6e90\u4fdd\u62a4\u534f\u4f1a\u5317\u4eac\u4ee3\u8868\u5904\u9996\u5e2d\u4ee3\u8868\u5f20\u6d01\u6e05\u5728\u524d\u8ff0\u8bba\u575b\u4e0a\u8868\u793a\u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class=\"wp-block-heading\">\u89d2\u9010\u672a\u6765\u6280\u672f<\/h2>\n\n\n\n<p>\u3000\u3000\u201c\u6280\u672f\u6b63\u6210\u4e3a\u91cd\u6784\u80fd\u6e90\u683c\u5c40\u7684\u5173\u952e\u529b\u91cf\u3002\u201d\u5fb7\u52e4\u4e2d\u56fd\u57282025\u5e747\u6708\u53d1\u5e03\u300a\u201c\u5341\u4e94\u4e94\u201d\u65f6\u671f\u4e2d\u56fd\u80fd\u6e90\u884c\u4e1a\u5173\u952e\u8bae\u9898\u300b\u62a5\u544a\uff08\u4e0b\u79f0\u201c\u5fb7\u52e4\u62a5\u544a\u201d\uff09\u6307\u51fa\uff0c\u65b0\u5174\u80fd\u6e90\u6280\u672f\u4e0e\u4eba\u5de5\u667a\u80fd\uff08AI\uff09\u6280\u672f\uff0c\u662f\u63a8\u52a8\u80fd\u6e90\u7cfb\u7edf\u8fc8\u5411\u66f4\u52a0\u7075\u6d3b\u3001\u7a33\u5b9a\u4e0e\u4f4e\u78b3\u7684\u5173\u952e\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5728\u80fd\u6e90\u9886\u57df\u7684\u8bf8\u591a\u6280\u672f\u8def\u5f84\u4e2d\uff0c\u6d82\u5efa\u519b\u8ba4\u4e3a\uff0c\u8981\u5b9e\u73b0\u6c14\u5019\u76ee\u6807\uff0c\u4e00\u65b9\u9762\u9700\u8981\u7a81\u7834\u4f53\u5236\u673a\u5236\u5c40\u9650\uff0c\u52a1\u5b9e\u5730\u6269\u5f20\u98ce\u7535\u3001\u5149\u4f0f\u3001\u6838\u7535\u3001\u7535\u52a8\u8f66\u7b49\u89c4\u6a21\u7ecf\u6d4e\u6027\u5f97\u5230\u9a8c\u8bc1\u7684\u4ea7\u4e1a\uff1b\u540c\u65f6\u5bf9\u7eff\u6c22\u3001\u6838\u805a\u53d8\u7b49\u524d\u6cbf\u7a81\u7834\u6027\u6280\u672f\uff0c\u5219\u8981\u901a\u8fc7\u793a\u8303\u5de5\u7a0b\u7b49\u65b9\u5f0f\u52a0\u901f\u6280\u672f\u521b\u65b0\u8fed\u4ee3\uff0c\u529b\u4e89\u65e9\u65e5\u5b9e\u73b0\u89c4\u6a21\u7ecf\u6d4e\u6027\u3002\u4f46\u5728\u4ed6\u770b\u6765\uff0c\u80fd\u6e90\u6280\u672f\u4e2d\u7684\u6700\u5927\u53d8\u91cf\u5728\u4e8eAI\uff1a\u5728\u6e05\u6d01\u80fd\u6e90\u3001\u65b0\u6750\u6599\u7b49\u9886\u57df\u7684\u7814\u53d1\u4e0e\u9a8c\u8bc1\u4e2d\uff0cAI\u6709\u671b\u663e\u8457\u52a0\u901f\u6280\u672f\u7a81\u7834\u6b65\u4f10\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5fb7\u52e4\u62a5\u544a\u8ba4\u4e3a\uff0c\u5728\u653f\u7b56\u53ca\u8d44\u672c\u9a71\u52a8\u4e0b\uff0c\u80fd\u6e90\u6280\u672f\u6b63\u4ee5\u524d\u6240\u672a\u6709\u7684\u901f\u5ea6\u8fed\u4ee3\u521b\u65b0\u5e76\u843d\u5730\u5e94\u7528\uff0c\u9499\u949b\u77ff\u5149\u4f0f\u7535\u6c60\u3001\u6c22\u80fd\u3001\u56fa\u6001\u7535\u6c60\u3001\u5c0f\u578b\u6a21\u5757\u5316\u53cd\u5e94\u5806\uff08SMR\uff09\u7b49\u8bf8\u591a\u65b0\u5174\u6280\u672f\u6b65\u5165\u4ea7\u4e1a\u5316\u524d\u591c\u3002\u6210\u672c\u56e0\u7d20\u4ecd\u51b3\u5b9a\u7740\u65b0\u5174\u80fd\u6e90\u6280\u672f\u80fd\u5426\u83b7\u5f97\u957f\u671f\u653f\u7b56\u652f\u6301\u4e0e\u5e02\u573a\u63a5\u53d7\uff0c\u5c24\u5176\u662f\u5bf9\u5c1a\u5904\u4e8e\u793a\u8303\u6216\u521d\u671f\u5546\u4e1a\u5316\u9636\u6bb5\u7684\u6280\u672f\u3002\u5176\u4e2d\uff0c\u968f\u7740\u65b0\u578b\u50a8\u80fd\u4e0e\u7eff\u6c22\u5e94\u7528\u6280\u672f\u5e02\u573a\u9700\u6c42\u7206\u53d1\uff0c\u63a5\u4e0b\u6765\u7684\u4e94\u5e74\u5c06\u662f\u89d2\u9010\u672a\u6765\u4e3b\u6d41\u6280\u672f\u8def\u7ebf\u7684\u5173\u952e\u671f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833089801226.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>2024\u5e742\u67086\u65e5\uff0c\u6d77\u5357\u660c\u6c5f\uff0c\u5168\u7403\u9996\u4e2a\u9646\u4e0a\u6a21\u5757\u5316\u5c0f\u578b\u6838\u53cd\u5e94\u5806\u201c\u73b2\u9f99\u4e00\u53f7\u201d\u5916\u7a79\u9876\u540a\u88c5\u73b0\u573a\u3002\u56fe\uff1a\u9a86\u4e91\u98de\/\u4e2d\u65b0\u793e\/\u89c6\u89c9\u4e2d\u56fd<\/p>\n\n\n\n<p>\u3000\u3000\u201c\u65b0\u578b\u7535\u529b\u7cfb\u7edf\u5efa\u8bbe\u7684\u6838\u5fc3\u662f\u65b0\u80fd\u6e90\u80fd\u88c5\u591a\u5c11\uff0c\u8c03\u8282\u80fd\u529b\u53ef\u4ee5\u6765\u81ea\u5f88\u591a\u6280\u672f\u8def\u7ebf\uff0c\u8fd9\u4e9b\u8def\u7ebf\u4e4b\u95f4\u76f8\u4e92\u7ade\u4e89\uff0c\u4e1c\u8fb9\u4e0d\u4eae\u897f\u8fb9\u4eae\u3002\u201d\u97e9\u96ea\u6307\u51fa\uff0c\u672a\u6765\u987b\u7ee7\u7eed\u63a2\u7d22\u524d\u6cbf\u6280\u672f\u6216\u4e0d\u786e\u5b9a\u6027\u6280\u672f\uff0c\u786e\u4fdd\u4e0d\u843d\u540e\uff1b\u8fd8\u987b\u7ed3\u5408\u6280\u672f\u6210\u719f\u5ea6\u3001\u5e02\u573a\u89c4\u6a21\u3001\u53ef\u627f\u53d7\u80fd\u529b\u7b49\uff0c\u63a8\u51fa\u9002\u914d\u7684\u4ea7\u4e1a\u653f\u7b56\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5728\u6c22\u80fd\u9886\u57df\uff0c\u97e9\u96ea\u8ba4\u4e3a\uff0c\u4e2d\u56fd\u7eff\u6c22\u6280\u672f\u9886\u5148\u5168\u7403\uff0c\u4e14\u5177\u4ea7\u4e1a\u6574\u5408\u4f18\u52bf\uff0c\u4e0a\u6e38\u7eff\u6c22\u751f\u4ea7\u73af\u8282\u4e0d\u5b58\u5728\u95ee\u9898\uff0c\u4f46\u7eff\u6c22\u9ad8\u6602\u7684\u6210\u672c\u76ee\u524d\u8fd8\u96be\u4ee5\u5411\u4e0b\u6e38\u4f20\u5bfc\uff0c\u52a0\u4e0a\u5168\u7403\u7ecf\u6d4e\u9762\u4e34\u8bf8\u591a\u56f0\u96be\uff0c\u8d38\u6613\u58c1\u5792\u52a0\u6df1\uff0c\u7535\u89e3\u69fd\u548c\u7eff\u6c22\u884d\u751f\u7269\u7684\u6d77\u5916\u5e02\u573a\u6269\u5c55\u9762\u4e34\u8bb8\u591a\u969c\u788d\uff0c\u53e0\u52a0\u6c22\u80fd\u548c\u7535\u529b\u3001\u5929\u7136\u6c14\u4e4b\u95f4\u7684\u8026\u5408\u5173\u7cfb\u8f83\u4e3a\u590d\u6742\uff0c\u6c22\u80fd\u884c\u4e1a\u5728\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\u8fd8\u9762\u4e34\u8f83\u5927\u6311\u6218\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u56fd\u5bb6\u80fd\u6e90\u5c402025\u5e744\u6708\u8868\u793a\uff0c\u5c06\u5f3a\u5316\u653f\u7b56\u5f15\u9886\uff0c\u5728\u201c\u5341\u4e94\u4e94\u201d\u80fd\u6e90\u53d1\u5c55\u89c4\u5212\u4e2d\u8fdb\u4e00\u6b65\u660e\u786e\u6c22\u80fd\u4ea7\u4e1a\u53d1\u5c55\u76ee\u6807\u8def\u5f84\uff0c\u63a8\u8fdb\u6c22\u80fd\u201c\u5236\u50a8\u8f93\u7528\u201d\u5168\u94fe\u6761\u534f\u8c03\u53d1\u5c55\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u6c22\u80fd\u5728\u4ea4\u901a\u3001\u94a2\u94c1\u7b49\u9886\u57df\u7684\u5e94\u7528\u8fd8\u9700\u6280\u672f\u9a8c\u8bc1\uff0c\u6216\u96be\u5728\u672a\u6765\u4e94\u5e74\u5185\u6210\u719f\u3002\u7eff\u6c22\u672a\u6765\u6700\u5927\u7684\u5e94\u7528\u4e4b\u4e00\u5728\u4e8e\u94a2\u94c1\u884c\u4e1a\uff1a\u4f5c\u4e3a\u751f\u4ea7\u94a2\u94c1\u7684\u8fd8\u539f\u5242\uff0c\u53ef\u52a9\u94a2\u94c1\u4e1a\u964d\u78b3\u3002\u4f46\u5f53\u4e0b\uff0c\u4e2d\u56fd\u94a2\u94c1\u884c\u4e1a\u76c8\u5229\u8270\u96be\u3001\u5f00\u5de5\u7387\u4e0d\u9ad8\uff0c\u9ad8\u6ea2\u4ef7\u8d2d\u4e70\u7eff\u6c22\u7684\u610f\u613f\u4e0d\u8db3\u3002\u53e6\u4e00\u4e3b\u8981\u5e94\u7528\u573a\u666f\u6c22\u71c3\u6599\u6c7d\u8f66\uff0c\u5728\u793a\u8303\u57ce\u5e02\u7fa4\u8865\u8d34\u53d1\u653e\u4e0d\u53ca\u65f6\u3001\u4ea7\u4e1a\u94fe\u878d\u8d44\u56f0\u96be\u7b49\u80cc\u666f\u4e0b\uff0c2025\u5e74\u4e0a\u534a\u5e74\u9500\u91cf\u540c\u6bd4\u4e0b\u6ed1\u4e24\u6210\uff0c\u4e9f\u987b\u63a2\u7d22\u65b0\u7684\u53d1\u5c55\u9053\u8def\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u201c\u89c4\u5212\u7acb\u8db3\u4e8e\u672a\u6765\uff0c\u9879\u76ee\u7acb\u8db3\u4e8e\u73b0\u5728\u3002\u201d\u4e00\u4f4d\u94a2\u94c1\u964d\u78b3\u9886\u57df\u4eba\u58eb\u4ecb\u7ecd\uff0c\u94a2\u94c1\u662f\u91cd\u6295\u8d44\u9886\u57df\uff0c\u4e14\u4e2d\u56fd\u591a\u6570\u9ad8\u7089\u5e74\u9650\u4e0d\u957f\u3002\u4f01\u4e1a\u5f53\u524d\u66f4\u591a\u901a\u8fc7\u4f18\u5316\u4e0e\u6539\u8fdb\u9ad8\u7089\u3001\u63d0\u9ad8\u539f\u6750\u6599\u8d28\u91cf\u3001\u80fd\u6e90\u5229\u7528\u3001\u56de\u6536\u6c14\u4f53\u7b49\u63aa\u65bd\u964d\u78b3\uff0c\u8fd9\u4e9b\u52a1\u5b9e\u4e3e\u63aa\u4ecd\u662f\u94a2\u94c1\u884c\u4e1a\u672a\u676510\u201420\u5e74\u7684\u51cf\u78b3\u8def\u5f84\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u4f01\u4e1a\u4e5f\u90fd\u5341\u5206\u91cd\u89c6\u6295\u8d44\u65b0\u5174\u6280\u672f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833137201376.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a href=\"javascript:;\"><\/a><\/p>\n\n\n\n<p>\u3000\u3000\u4ece\u4f01\u4e1a\u89c6\u89d2\uff0c\u6ed5\u52c7\u79f0\uff0c\u5236\u5b9a\u201c\u5341\u4e94\u4e94\u201d\u89c4\u5212\u65f6\u201c\u628a\u79d1\u6280\u521b\u65b0\u653e\u5728\u4e86\u7b2c\u4e00\u4f4d\u201d\u3002\u8fd1\u51e0\u5e74\uff0c\u5728\u91cd\u8d44\u4ea7\u7684\u80fd\u6e90\u9886\u57df\uff0c\u521b\u65b0\u6210\u4e86\u91cd\u70b9\u53d1\u529b\u65b9\u5411\uff0c\u8bb8\u591a\u56fd\u592e\u4f01\u7814\u53d1\u6295\u5165\u5360\u6bd4\u4ece\u4ee5\u5f80\u76841%\u20142%\u63d0\u9ad8\u52303.5%\u20144%\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5fb7\u52e4\u7ba1\u7406\u54a8\u8be2\u5408\u4f19\u4eba\u59dc\u6c5f\u4e5f\u4ecb\u7ecd\u79f0\uff0c\u4f01\u4e1a\u8fd1\u4e24\u5e74\u5c24\u4e3a\u5173\u6ce8\u79d1\u7814\u7ba1\u7406\u4f53\u7cfb\u3001\u79d1\u6280\u6218\u7565\uff0c\u4ee5\u53ca\u5c06\u6280\u672f\u5e94\u7528\u5230\u4ea7\u54c1\u4e0e\u670d\u52a1\uff0c\u63d0\u5347\u88c5\u5907\u5de5\u827a\u8d28\u91cf\u7b49\u3002\u5728\u70bc\u5316\u3001\u94a2\u94c1\u7b49\u4ea7\u80fd\u8fc7\u5269\u7684\u6210\u719f\u884c\u4e1a\u66f4\u662f\u5982\u6b64\uff0c\u9700\u8981\u66f4\u6ce8\u91cd\u63d0\u5347\u6548\u7387\uff0c\u6293\u4f4f\u53d1\u5c55\u673a\u9047\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u94a2\u94c1\u884c\u4e1a\u5c06\u8fce\u6765\u9996\u4e2a\u51cf\u91cf\u7684\u4e94\u5e74\u5468\u671f\u3002\u57288\u670829\u65e5\u53ec\u5f00\u76842025\u5e74\u534a\u5e74\u5ea6\u4e1a\u7ee9\u8bf4\u660e\u4f1a\u4e0a\uff0c<a href=\"https:\/\/s.ccxe.com.cn\/entities\/companies\/200000935?originReferrer=pcarticle\">\u5b9d\u94a2\u80a1\u4efd<\/a>\uff08<a href=\"https:\/\/weekly.caixin.com\/2025-09-19\/600019.SH\">600019.SH<\/a>\uff09\u9ad8\u7ba1\u4ecb\u7ecd\u79f0\uff0c\u5f53\u524d\u5b9d\u94a2\u5728\u6df1\u5316\u6539\u9769\u7ba1\u7406\u4f53\u7cfb\uff0c\u5982\u63a8\u8fdb\u591a\u57fa\u5730\u7684\u6574\u5408\u534f\u540c\u3001\u4ea7\u7ebf\u4f18\u5316\u5206\u5de5\u3001\u4ea7\u9500\u4e00\u4f53\u5316\u7b49\uff0c\u4ee5\u7b80\u5316\u7ba1\u7406\u673a\u5236\uff0c\u6452\u5f03\u201c\u5927\u9505\u996d\u201d\uff0c\u5c06\u51b3\u7b56\u673a\u5236\u91cd\u5fc3\u4e0b\u79fb\u3001\u6743\u529b\u4e0b\u653e\uff0c\u6700\u7ec8\u76ee\u7684\u662f\u5b9e\u73b0\u7ba1\u7406\u7684\u9ad8\u6548\u4e0e\u667a\u80fd\uff0c\u9762\u5411\u5e02\u573a\u5feb\u901f\u53cd\u5e94\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u4e0a\u534a\u5e74\uff0c\u5b9d\u94a2\u80a1\u4efd\u5df2\u57fa\u672c\u5b8c\u6210\u76f8\u5173\u6539\u9769\u3002\u5176\u4e2d\u201c\u91cd\u5934\u620f\u201d\u4e4b\u4e00\u662f\u6539\u9769\u79d1\u7814\u4f53\u5236\uff0c\u5c06\u79d1\u6280\u521b\u65b0\u878d\u5165\u73b0\u573a\u4e0e\u5e02\u573a\u3002\u201c\u539f\u6765\u79d1\u6280\u521b\u65b0\u7814\u7a76\u9662\u3001\u5236\u9020\u3001\u73b0\u573a\u5404\u6709\u4e00\u62e8\u4eba\uff0c\u4e09\u62e8\u4eba\u4e92\u76f8\u4e0d\u6765\u5f80\uff0c\u6539\u9769\u7684\u76ee\u7684\u662f\u5c06\u4ed6\u4eec\u96c6\u4e2d\u8d77\u6765\u5f62\u6210\u5408\u529b\uff0c\u800c\u8fd9\u9879\u6539\u9769\u7684\u5f71\u54cd\u662f\u6df1\u8fdc\u7684\u3002\u201d\u5b9d\u94a2\u80a1\u4efd\u9ad8\u7ba1\u79f0\u3002\u4e0e\u6b64\u540c\u65f6\uff0c\u5b9d\u94a2\u8fd8\u5728\u52a0\u5feb\u53d1\u5c55\u7279\u94a2\uff0c\u5c06\u201c\u94a2\u7ba1\u6761\u94a2\u4e8b\u4e1a\u90e8\u201d\u66f4\u540d\u4e3a\u201c\u94a2\u7ba1\u7279\u94a2\u4e8b\u4e1a\u90e8\u201d\uff0c\u90e8\u95e8\u540d\u5b57\u4e00\u5b57\u4e4b\u5dee\uff0c\u80cc\u540e\u662f\u4e1a\u52a1\u6218\u7565\u7684\u91cd\u5927\u8c03\u6574\u2014\u2014\u8f6c\u5411\u65b0\u80fd\u6e90\u3001\u7535\u52a8\u8f66\u3001\u6d77\u6d0b\u5de5\u7a0b\u7b49\u9886\u57df\u9ad8\u7aef\u7528\u94a2\uff0c\u4ea7\u54c1\u521b\u65b0\u968f\u4e4b\u52a0\u5927\u529b\u5ea6\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u8fc7\u5269\u884c\u4e1a\u4e5f\u5728\u6dd8\u6c70\u843d\u540e\u4ea7\u80fd\uff0c\u9632\u6b62\u76f2\u76ee\u6269\u5f20\uff0c\u5e76\u901a\u8fc7\u4ea7\u80fd\u7f6e\u6362\u548c\u7eff\u8272\u5347\u7ea7\u4f18\u5316\u7ed3\u6784\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u201c\u70bc\u80fd\u5df2\u7ecf\u8fc7\u5269\uff0c\u8001\u65e7\u4ea7\u80fd\u8981\u5173\u6389\uff0c\u5316\u5de5\u4ea7\u4e1a\u94fe\u8981\u5347\u7ea7\u3002\u201d\u5ed6\u5a1c\u4e3e\u4f8b\u8bf4\u3002\u201c\u5341\u4e94\u4e94\u201d\u671f\u95f4\uff0c\u5c06\u589e\u52a0\u7ea68000\u4e07\u5428\u70bc\u80fd\uff0c\u540c\u65f6\u5173\u95ed\u7ea61\u4ebf\u5428\u6295\u4ea7\u8d85\u8fc720\u5e74\u7684\u4ea7\u80fd\u3002\u63a5\u4e0b\u6765\u4e94\u5e74\u65b0\u589e\u76849\u4e2a\u70bc\u6cb9\u9879\u76ee\u4e2d\uff0c\u9664\u4e86\u6c99\u7279\u963f\u7f8e\u53c2\u4e0e\u76842\u4e2a\u7eff\u5730\u9879\u76ee\uff0c\u5176\u4ed6\u5747\u901a\u8fc7\u4ea7\u80fd\u7f6e\u6362\u800c\u6765\u30022024\u5e74\uff0c\u4e2d\u56fd\u70bc\u6cb9\u80fd\u529b\u8fbe\u52309.55\u4ebf\u5428\/\u5e74\uff0c\u4f4d\u5c45\u5168\u7403\u7b2c\u4e00\uff0c\u4f46\u5f00\u5de5\u7387\u4f4e\u4e8e\u5168\u7403\u5e73\u5747\u6c34\u5e73\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5fb7\u52e4\u670d\u52a1\u7684\u4e00\u5bb6\u80fd\u6e90\u8d44\u6e90\u4f01\u4e1a\u5373\u5728\u8fdb\u884c\u79d1\u6280\u4f53\u7cfb\u4f18\u5316\uff0c\u5e76\u5c55\u5f00\u79d1\u6280\u7ba1\u7406\u4f53\u7cfb\u7684\u9876\u5c42\u89c4\u5212\u3002\u5415\u5ca9\u8fdb\u4e00\u6b65\u6307\u51fa\uff0c\u5316\u77f3\u80fd\u6e90\u6750\u6599\u5c5e\u6027\u65e5\u76ca\u51f8\u663e\uff0c\u5316\u5de5\u9886\u57df\u987b\u8d70\u5411\u7cbe\u7ec6\u4e0e\u9ad8\u7aef\uff0c\u5bf9\u5e94\u8981\u6c42\u5316\u5de5\u6750\u6599\u7a81\u7834\u201c\u5361\u8116\u5b50\u201d\u6280\u672f\uff0c\u5d4c\u5165\u521b\u65b0\u7684\u5e94\u7528\u573a\u666f\uff0c\u8d70\u51fa\u4f4e\u7aef\u8fc7\u5269\u3001\u9ad8\u7aef\u4e0d\u8db3\u7684\u7ed3\u6784\u6027\u95ee\u9898\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u603b\u90e8\u4f4d\u4e8e\u8377\u5170\u7684\u5168\u7403\u5934\u90e8\u6d82\u6599\u516c\u53f8\u963f\u514b\u82cf\u8bfa\u8d1d\u5c14\uff08AkzoNobel\uff09\u4e2d\u56fd\u533a\u603b\u88c1\u6bb7\u6d9b\u5bf9\u8d22\u65b0\u8868\u793a\uff0c\u672a\u6765\u5316\u5de5\u884c\u4e1a\u7684\u7eff\u8272\u8f6c\u578b\u9700\u8981\u591a\u7ef4\u5ea6\u534f\u540c\u63a8\u8fdb\uff0c\u5176\u4e2d\u6280\u672f\u521b\u65b0\u81f3\u5173\u91cd\u8981\u3002\u4ee5\u6d82\u6599\u884c\u4e1a\u4e3a\u4f8b\uff0c\u4ea7\u54c1\u8bbe\u8ba1\u4e2d\u5e94\u66f4\u6ce8\u91cd\u53ef\u518d\u751f\u6750\u6599\u7684\u5e94\u7528\uff0c\u901a\u8fc7\u589e\u5f3a\u6d82\u5c42\u8010\u4e45\u6027\u6765\u964d\u4f4e\u5168\u751f\u547d\u5468\u671f\u7684\u78b3\u8db3\u8ff9\uff0c\u5c06\u8282\u80fd\u51cf\u6392\u8d2f\u7a7f\u4e8e\u539f\u6599\u3001\u751f\u4ea7\u3001\u8fd0\u8f93\u548c\u5e94\u7528\u7684\u5404\u4e2a\u73af\u8282\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u7f57\u5170\u8d1d\u683c\u5168\u7403\u9ad8\u7ea7\u5408\u4f19\u4eba\u3001\u4e9a\u6d32\u533a\u5de5\u4e1a\u5e73\u53f0\u8d1f\u8d23\u4eba\u8bb8\u5b63\u521a\u8ba4\u4e3a\uff0c\u8d44\u4ea7\u4e0e\u8d44\u672c\u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href=\"https:\/\/weekly.caixin.com\/2024-07-27\/102220422.html\">\u300a\u8ba9\u7535\u52a8\u8f66\u5411\u7535\u7f51\u9001\u7535\u300b<\/a>\uff09<\/p>\n\n\n\n<p>\u3000\u3000\u6574\u4f53\u800c\u8a00\uff0c\u6ed5\u52c7\u6307\u51fa\uff0c\u80fd\u6e90\u4f01\u4e1a\u5728\u964d\u78b3\u7ef4\u6301\u539f\u6709\u4e1a\u52a1\u7684\u540c\u65f6\uff0c\u4e5f\u5728\u63a2\u7d22\u65b0\u7684\u80fd\u6e90\u54c1\u79cd\u53ca\u670d\u52a1\u6a21\u5f0f\u3002\u4ed6\u5c06\u6b64\u79f0\u4e3a\u201c\u4e24\u6761\u817f\u8d70\u8def\u201d\uff0c\u4e00\u65b9\u9762\u5411\u4e0a\u6216\u5411\u4e0b\u5ef6\u4f38\u4ea7\u4e1a\u94fe\uff0c\u5bfb\u627e\u65b0\u589e\u957f\u70b9\uff1b\u53e6\u4e00\u65b9\u9762\u5229\u7528\u5df2\u6709\u6280\u672f\u3001\u670d\u52a1\u3001\u8d44\u672c\u7b49\u4f18\u52bf\u4e1a\u52a1\uff0c\u5c24\u5176\u901a\u8fc7\u6570\u5b57\u5316\u53caAI\u7b49\u8fdb\u4e00\u6b65\u63d0\u8d28\u589e\u6548\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5fb7\u52e4\u62a5\u544a\u6307\u51fa\uff0c\u968f\u7740AI\u3001\u5927\u6a21\u578b\u7b49\u6280\u672f\u5e7f\u6cdb\u5e94\u7528\u4e8e\u65b0\u80fd\u6e90\u9884\u6d4b\u3001\u8c03\u5ea6\u3001\u4ea4\u6613\u7b49\u573a\u666f\uff0c\u4e5f\u5728\u63a8\u52a8\u80fd\u6e90\u4ea7\u4e1a\u4ece\u4ea7\u54c1\u5bfc\u5411\u8f6c\u5411\u6570\u636e\u9a71\u52a8\u4e0e\u7cfb\u7edf\u96c6\u6210\u3002\u5728\u8fd9\u573a\u6bd4\u8d5b\u4e2d\uff0c\u80fd\u6e90\u4f01\u4e1a\u7eb7\u7eb7\u8eac\u8eab\u8fdb\u573a\uff0c\u5bfb\u627e\u5e94\u7528\u573a\u666f\uff0c\u5728\u8fc7\u5ea6\u6295\u8d44\u4e0e\u8c28\u614e\u6295\u8d44\u4e4b\u95f4\u5bfb\u627e\u5e73\u8861\uff0c\u6838\u5fc3\u4ecd\u7136\u5173\u6ce8\u6295\u8d44\u56de\u62a5\u7387\uff08ROI\uff09\u3002\uff08\u8be6\u89c1\u672c\u520a2025\u5e74\u7b2c23\u671f<a href=\"https:\/\/weekly.caixin.com\/2025-06-14\/102330424.html\">\u300a\u80fd\u6e90\u4e1a\u201cAI+\u201d\u8fdb\u884c\u65f6\u300b<\/a>\uff09<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u53cd\u201c\u5185\u5377\u201d\u4e0e\u201c\u51fa\u6d77\u201d<\/h2>\n\n\n\n<p>\u3000\u3000\u201c\u2018\u5341\u4e94\u4e94\u2019\u80fd\u6e90\u65b9\u9762\u7684\u89c4\u5212\uff0c\u5173\u952e\u5728\u4e8e\u91cd\u65b0\u68b3\u7406\u4e0e\u642d\u5efa\u4f53\u7cfb\u3002\u201d\u5ed6\u5a1c\u8ba4\u4e3a\uff0c\u5408\u89c4\u7ba1\u7406\u4ea6\u662f\u6b64\u8f6e\u6539\u9769\u91cd\u70b9\uff0c\u540c\u6b65\u63a8\u52a8\u8d28\u68c0\u5347\u7ea7\uff0c\u201c\u8fd9\u4e0d\u53ea\u670d\u52a1\u7eff\u8272\u4f4e\u78b3\u7684\u6838\u5fc3\u76ee\u6807\uff0c\u4e5f\u4e3a\u8fdb\u4e00\u6b65\u5f00\u653e\u505a\u51c6\u5907\u3002\u201d<\/p>\n\n\n\n<p>\u3000\u3000\u5979\u89e3\u91ca\u79f0\uff0c\u77f3\u6cb9\u9886\u57df\u7684\u4e3b\u57fa\u8c03\u5373\u91cd\u65b0\u68b3\u7406\u4e0e\u660e\u786e\u6e38\u620f\u89c4\u5219\u3002\u5176\u4e2d\uff0c\u5c06\u57282026\u20142027\u5e74\u95f4\u5b9e\u65bd\u7684\u6d88\u8d39\u7a0e\u4e0b\u79fb\u2014\u2014\u7531\u70bc\u5382\u73af\u8282\u540e\u79fb\u81f3\u96f6\u552e\u73af\u8282\uff0c\u662f\u201c\u5341\u4e94\u4e94\u201d\u6700\u91cd\u8981\u7684\u6539\u9769\u8bae\u9898\u4e4b\u4e00\uff0c\u4ee5\u91cd\u65b0\u5728\u4e2d\u592e\u4e0e\u5730\u65b9\u4ee5\u53ca\u4e0d\u540c\u6d88\u8d39\u6c34\u5e73\u7684\u5730\u533a\u4e4b\u95f4\u8c03\u6574\u7a0e\u6536\uff1b\u540c\u65f6\uff0c\u5728\u5168\u4ea7\u4e1a\u94fe\u5b9e\u65bd\u6570\u5b57\u5316\u7b49\u66f4\u4e25\u683c\u7684\u76d1\u7ba1\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5728\u6d41\u901a\u9886\u57df\uff0c\u4e2d\u56fd\u81ea2025\u5e749\u6708\u65bd\u884c\u300a\u6210\u54c1\u6cb9\u6d41\u901a\u7ba1\u7406\u529e\u6cd5\u300b\uff0c\u4ee5\u6784\u5efa\u5408\u89c4\u7684\u8d44\u6e90\u6d41\u901a\u4f53\u7cfb\uff0c\u6210\u54c1\u6cb9\u6279\u53d1\u3001\u4ed3\u50a8\u73af\u8282\u4ece\u5907\u6848\u5236\u6539\u4e3a\u5ba1\u6279\u5236\uff0c\u5e76\u7edf\u4e00\u6279\u53d1\u8d44\u8d28\u4e0e\u96f6\u552e\u8d44\u8d28\u3002\u63a5\u4e0b\u6765\u4e94\u5e74\uff0c\u300a\u6210\u54c1\u6cb9\u6d41\u901a\u7ba1\u7406\u529e\u6cd5\u300b\u8fd8\u8981\u5728\u6267\u884c\u4e2d\u5b8c\u5584\u7ec6\u5219\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5728\u5ed6\u5a1c\u770b\u6765\uff0c\u5f53\u524d\u5bf9\u4ea7\u80fd\u8fc7\u5269\u7684\u201c\u65b0\u4e09\u6837\u201d\u9886\u57df\u63a8\u8fdb\u7684\u201c\u53cd\u5185\u5377\u201d\u884c\u52a8\uff0c\u4e5f\u662f\u68b3\u7406\u4f53\u7cfb\u3001\u4e3a\u8f6c\u578b\u5347\u7ea7\u817e\u632a\u7a7a\u95f4\u3002\u7ecf\u8fc7\u4e24\u4e09\u4e2a\u201c\u4e94\u5e74\u8ba1\u5212\u201d\u7684\u57f9\u517b\u4e0e\u6276\u6301\uff0c\u201c\u65b0\u4e09\u6837\u201d\u65e0\u8bba\u4ea7\u80fd\u8fd8\u662f\u6280\u672f\u5747\u5c45\u4e16\u754c\u524d\u5217\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u4ee5\u9502\u7535\u9886\u57df\u4e3a\u4f8b\u3002\u4e00\u540d\u8d44\u6df1\u4e1a\u5185\u4eba\u58eb\u8ba4\u4e3a\uff0c\u201c\u5341\u56db\u4e94\u201d\u671f\u95f4\u57fa\u672c\u5b8c\u6210\u4e86\u9502\u7535\u884c\u4e1a\u7b2c\u4e00\u8f6e\u6d17\u724c\uff0c\u96c6\u4e2d\u5ea6\u5927\u5e45\u4e0a\u5347\uff0c\u5f62\u6210\u4e86\u201c\u4e24\u8d85\u591a\u5f3a\u201d\u7684\u5c40\u9762\uff0c\u5b81\u5fb7\u65f6\u4ee3\u3001\u6bd4\u4e9a\u8fea\u5e02\u5360\u7387\u5408\u8ba1\u8d85\u8fc765%\u3002\u4f46\u81ea2021\u5e74\u8d77\uff0c\u539f\u6750\u6599\u4ef7\u683c\u5927\u5e45\u4e0a\u6da8\uff0c\u5012\u903c\u6210\u672c\u4f4e\u3001\u7eed\u822a\u91cc\u7a0b\u8f83\u5dee\u7684\u78f7\u9178\u94c1\u9502\u6280\u672f\u5feb\u901f\u8fed\u4ee3\uff0c\u63a8\u52a8\u56fd\u5185\u786e\u7acb\u4e86\u4ee5\u78f7\u9178\u94c1\u9502\u4e3a\u4e3b\u5bfc\u7684\u6280\u672f\u8def\u7ebf\uff0c\u65e5\u97e9\u3001\u6b27\u7f8e\u4f01\u4e1a\u4e5f\u8ddf\u968f\u7814\u53d1\u3002\u201c\u8fd9\u4e9b\u90fd\u662f\u5e02\u573a\u5316\u7684\u9009\u62e9\u3002\u201d<\/p>\n\n\n\n<p>\u3000\u3000\u8be5\u4eba\u58eb\u8ba4\u4e3a\uff0c\u653f\u5e9c\u90e8\u95e8\u6709\u5fc5\u8981\u8fdb\u884c\u4ea7\u80fd\u7ba1\u63a7\u548c\u884c\u4e1a\u51c6\u5165\u7ba1\u7406\uff0c\u8bbe\u7acb\u51c6\u5165\u6307\u6807\uff0c\u5c06\u4f4e\u7aef\u4ea7\u80fd\u6321\u5728\u884c\u4e1a\u4e4b\u5916\u3002\u6b64\u5916\uff0c\u4f4e\u7a7a\u7ecf\u6d4e\u3001\u4eba\u5f62\u673a\u5668\u4eba\u5e26\u52a8\u7684\u7535\u6c60\u9700\u6c42\uff0c\u4ee5\u53ca\u53d1\u5c55\u56fa\u6001\u7535\u6c60\u3001\u6db2\u786b\u7535\u6c60\u7b49\u65b0\u5174\u6280\u672f\u8def\u7ebf\uff0c\u4e5f\u88ab\u8ba4\u4e3a\u662f\u7834\u9664\u7535\u6c60\u884c\u4e1a\u201c\u5185\u5377\u201d\u7684\u51fa\u8def\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u5728\u201c\u53cc\u78b3\u201d\u653f\u7b56\u7275\u5f15\u4e0b\uff0c\u5404\u7c7b\u8d44\u672c\u8fd8\u8dd1\u6b65\u5165\u573a\u5149\u4f0f\u9886\u57df\uff0c\u5feb\u901f\u63a8\u52a8\u8fd9\u4e00\u884c\u4e1a\u4e5f\u8fdb\u5165\u4ea7\u80fd\u8fc7\u5269\u72b6\u6001\u3002\uff08\u8be6\u89c1\u672c\u520a2024\u5e74\u7b2c36\u671f\u7279\u522b\u62a5\u9053<a href=\"https:\/\/weekly.caixin.com\/2024-09-06\/102233971.html\">\u300a\u5149\u4f0f\u5bfb\u5e95\u300b<\/a>\uff09\u97e9\u96ea\u8ba4\u4e3a\uff0c\u5bf9\u4e8e\u5149\u4f0f\u884c\u4e1a\uff0c\u63a5\u4e0b\u6765\u7684\u91cd\u8981\u4efb\u52a1\u662f\u4ee5\u66f4\u5e02\u573a\u5316\u7684\u65b9\u5f0f\u63a8\u52a8\u4ea7\u80fd\u51fa\u6e05\u548c\u4ea7\u4e1a\u7ed3\u6784\u4f18\u5316\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u8d44\u6e90\u7701\u4efd\u5219\u9762\u4e34\u4ea7\u4e1a\u8f6c\u578b\u5347\u7ea7\u7684\u6311\u6218\u3002\u6d82\u5efa\u519b\u6307\u51fa\uff0c\u968f\u7740\u77f3\u6cb9\u4e0e\u7164\u70ad\u6d88\u8d39\u8fbe\u5cf0\uff0c\u4ea7\u6cb9\u533a\u3001\u4ea7\u7164\u533a\u987b\u4e25\u8083\u8003\u8651\u4e0e\u63a2\u7d22\u7ecf\u6d4e\u652f\u67f1\u5207\u6362\uff0c\u901a\u8fc7\u9000\u51fa\u843d\u540e\u4ea7\u80fd\u3001\u57f9\u80b2\u7ecf\u6d4e\u65b0\u7740\u529b\u70b9\uff0c\u5b9e\u73b0\u5e73\u7a33\u8f6c\u578b\u3002<\/p>\n\n\n\n<p>\u3000\u30008\u67085\u65e5\u53ec\u5f00\u7684\u201c\u5c71\u897f\u94a2\u94c1\u884c\u4e1a\u4f4e\u78b3\u8f6c\u578b\u201d\u7814\u8ba8\u4f1a\u6307\u51fa\uff0c\u672a\u6765\u4e94\u5e74\u662f\u5c71\u897f\u7164\u70ad\u3001\u7535\u529b\u3001\u7126\u5316\u3001\u94a2\u94c1\u3001\u5316\u5de5\u7b49\u4f20\u7edf\u4ea7\u4e1a\u8f6c\u578b\u7684\u5173\u952e\u7a97\u53e3\u671f\uff0c\u987b\u8ba4\u771f\u8c0b\u5212\u3001\u76f4\u9762\u6311\u6218\uff0c\u5927\u529b\u53d1\u5c55\u65b0\u80fd\u6e90\u548c\u5faa\u73af\u7ecf\u6d4e\u7b49\u7eff\u8272\u53d1\u5c55\u65b0\u52a8\u80fd\uff0c\u65b9\u80fd\u627e\u5230\u8d44\u6e90\u578b\u7ecf\u6d4e\u7684\u201c\u7115\u65b0\u201d\u4e4b\u8def\u3002<\/p>\n\n\n\n<p>\u3000\u3000\u9762\u5bf9\u4e2d\u56fd\u5f3a\u5927\u7684\u5236\u9020\u4e1a\u4ea7\u80fd\uff0c\u591a\u4f4d\u4eba\u58eb\u8ba4\u4e3a\uff0c\u201c\u51fa\u6d77\u201d\u5c06\u662f\u63a5\u4e0b\u6765\u4e94\u5e74\u9700\u8981\u52a0\u901f\u7a81\u7834\u4e4b\u4e8b\u3002\u8bb8\u5b63\u521a\u79f0\uff0c\u4f01\u4e1a\u5728\u89c4\u5212\u5c42\u9762\u5e94\u66f4\u91cd\u89c6\u56fd\u9645\u5316\uff0c\u6df1\u8015\u6d77\u5916\u7ec6\u5206\u5e02\u573a\u3002\u201c\u5236\u5b9a\u65b0\u4e00\u8f6e\u53d1\u5c55\u89c4\u5212\u65f6\uff0c\u6211\u4eec\u5c06\u2018\u56fd\u9645\u5316\u2019\u4f5c\u4e3a\u4e00\u4e2a\u72ec\u7acb\u90e8\u5206\u52a0\u4ee5\u5f3a\u8c03\uff0c\u65e8\u5728\u52a0\u5feb\u6d77\u5916\u4e8b\u4e1a\u7684\u53d1\u5c55\u6b65\u4f10\u3002\u8d70\u51fa\u56fd\u95e8\u662f\u516c\u53f8\u521b\u5efa\u4e16\u754c\u4e00\u6d41\u4f01\u4e1a\u7684\u5fc5\u7136\u8981\u6c42\u3002\u201d\u5b9d\u94a2\u80a1\u4efd\u9ad8\u7ba1\u8868\u793a\u3002<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/img.caixin.com\/2025-09-20\/175833136776889.jpg\" alt=\"img\"\/><\/figure>\n\n\n\n<p><a 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