{"id":319,"date":"2008-03-26T22:20:26","date_gmt":"2008-03-27T02:20:26","guid":{"rendered":"http:\/\/blogs.law.harvard.edu\/guorui\/2008\/03\/26\/caijing-magazine-chinese-open-ended-se"},"modified":"2008-03-31T10:06:55","modified_gmt":"2008-03-31T14:06:55","slug":"caijing-magazine-chinese-open-ended-securities-investment-funds-fac","status":"publish","type":"post","link":"https:\/\/archive.blogs.harvard.edu\/guorui\/2008\/03\/26\/caijing-magazine-chinese-open-ended-securities-investment-funds-fac\/","title":{"rendered":"Caijing Magazine: Chinese Open-ended Securities Investment Funds Facing Massive Redemption"},"content":{"rendered":"<p><a href=\"http:\/\/www.eeo.com.cn\/eobserve\/\/finance\/funds\/2008\/03\/26\/95043.html\" title=\"Fund redemption\">\u57fa\u91d1\u8d4e\u56de\u5feb\u901f\u589e\u591a<\/a><br \/>\n<font face=\"\u5b8b\u4f53\" size=\"3\"><br \/>\n\u7f51\u7edc\u7248\u4e13\u7a3f \u8bb0\u8005 \u9093\u7f8e\u73b2 \u968f\u7740\u5927\u76d8\u7684\u8282\u8282\u4e0b\u632b\uff0c\u57fa\u91d1\u8d4e\u56de\u4e5f\u5448\u52a0\u901f\u6001\u52bf\u3002\u5404\u5bb6\u5730\u65b9\u5a92\u4f53\u7684\u62a5\u9053\u663e\u793a\uff0c\u5728\u5168\u56fd\u5404\u5927\u4e3b\u8981\u57ce\u5e02\u5747\u51fa\u73b0\u4e86\u8d4e\u56de\u52a0\u901f\u7684\u73b0\u8c61\u3002\u4f46\u5bf9\u4e8e\u8d4e\u56de\u9ad8\u6f6e\u4f55\u65f6\u51fa\u73b0\uff0c\u4e1a\u754c\u4eba\u58eb\u548c\u4e13\u5bb6\u770b\u6cd5\u4e0d\u4e00\u3002<\/font><!--more--><\/p>\n<p><font face=\"\u5b8b\u4f53\" size=\"3\">3\u6708\u4efd\u4ee5\u6765\uff0c\u53d7\u5230\u80a1\u5e02\u62d6\u7d2f\u7684\u80a1\u7968\u578b\u57fa\u91d1\uff0c\u51c0\u503c\u4e0b\u8dcc\u6700\u5c11\u7684\u4e5f\u670910%\u4ee5\u4e0a\uff0c\u6700\u591a\u635f\u5931\u8d85\u8fc7 26.44%\u3002\u622a\u81f33\u670818\u65e5\uff0c\u5f00\u653e\u5f0f\u80a1\u7968\u578b\u3001\u6df7\u5408\u578b\u57fa\u91d1\u548c\u5c01\u95ed\u5f0f\u7684\u6240\u6709\u57fa\u91d1\u4eca\u5e74\u4ee5\u6765\u51c0\u503c\u589e\u957f\u7387\u5747\u4e3a\u8d1f\u503c\u3002\u5f88\u591a\u57fa\u91d1\u516c\u53f8\u5728\u6240\u6301\u57fa\u91d1\u7f29\u6c34\u7684\u6700\u5f00\u59cb\u5c1a\u80fd\u575a\u6301\uff0c \u7136\u800c\u968f\u7740\u201c\u718a\u5e02\u201d\u6765\u4e34\u8ff9\u8c61\u8d8a\u6765\u8d8a\u660e\u663e\uff0c\u57fa\u91d1\u5e02\u573a\u4eba\u5fc3\u6da3\u6563\uff0c\u5176\u4e2d\u7684\u4e2d\u575a\u529b\u91cf\u57fa\u91d1\u7ecf\u7406\u4e5f\u5f00\u59cb\u56db\u65b9\u89c2\u671b\uff0c\u519b\u5fc3\u4e0d\u7a33\u3002<\/font><\/p>\n<p><font face=\"\u5b8b\u4f53\" size=\"3\">\u4e00\u540d\u57fa\u91d1\u7ecf\u7406\u5728\u63a5\u53d7\u91c7\u8bbf\u65f6\u900f\u9732\uff0c\u8be5\u516c\u53f8\u7684\u57fa\u91d1\u4ece3\u670810\u65e5\u540e\u5f00\u59cb\u5927\u4e3e\u8d4e\u56de\uff0c\u4e09\u65e5\u4e4b\u5185\u4ece\u94f6\u884c\u6e20\u9053\u53cd\u9988\u56de\u6765\u7684\u8d4e\u56de\u91cf\u57284\u4ebf\u5143\u5de6\u53f3\uff0c\u65e5\u8d4e\u56de\u6bd4\u4f8b\u63a5\u8fd11%\u3002\u800c\u53e6\u4e00\u5bb6\u57fa\u91d1\u516c\u53f8\u4e5f\u7ed9\u51fa17\u300118\u65e5\u4e24\u5929\u51c0\u8d4e\u56de1\u4ebf\u5143\u7684\u6570\u636e\u3002<\/font><\/p>\n<p><font face=\"\u5b8b\u4f53\" size=\"3\">\u5728\u53a6\u95e8\uff0c\u81ea\u4ece\u6caa\u6307\u8dcc\u78344000\u70b9\u540e\uff0c\u57fa\u6c11\u4fbf\u7eb7\u7eb7\u5750\u4e0d\u4f4f\uff0c\u6700\u5148\u8d4e\u56de\u57fa\u91d1\u7684\u5927\u591a\u662f\u8d44\u91d15\u523010\u4e07\u7684\u4e2d\u5c0f\u5ba2\u6237\u3002\u8dcc\u78343700\u70b9\u540e\uff0c\u4e00\u4e9b\u5927\u5ba2\u6237\u4e5f\u5f00\u59cb\u4fe1\u5fc3\u5931\u5b88\uff0c\u6709\u4eba\u4e00\u6b21\u6027\u8d4e\u56de\u56db\u4e94\u767e\u4e07\u3002\u53a6\u95e8\u4e2d\u884c\u3001\u5efa\u884c\u7684\u76f8\u5173\u4eba\u58eb\u7eb7\u7eb7\u8bc1\u5b9e\u57fa\u91d1\u8d4e\u56de\u201c\u591a\u4e86\u4e00\u70b9\u201d\u3002<\/font><\/p>\n<p><font face=\"\u5b8b\u4f53\" size=\"3\">\u800c\u5728\u4e0a\u6d77\uff0c\u57fa\u91d1\u8d4e\u56de\u7684\u6001\u52bf\u66f4\u52a0\u8fc5\u731b\u3002\u4ece\u5e74\u521d\u81f32\u670822\u65e5\uff0c5\u53ea\u53c2\u4e0e\u897f\u98de\u56fd\u9645\u975e\u516c\u5f00\u589e\u53d1\u7684\u57fa\u91d1\u5168 \u90e8\u906d\u9047\u51c0\u8d4e\u56de\uff0c\u8d4e\u56de\u6bd4\u4f8b\u6700\u5927\u7684\u662f\u6d77\u5bcc\u901a\u56de\u62a5\uff0c\u4efd\u989d\u4e0b\u964d\u4e869.19%\u3002\u8fdb\u51653\u6708\u540e\uff0c\u57fa\u91d1\u8d4e\u56de\u7684\u89c4\u6a21\u8fdb\u4e00\u70b9\u52a0\u5927\u3002\u4e0a\u6d77\u67d0\u5408\u8d44\u57fa\u91d1\u516c\u53f8\u5e02\u573a\u90e8\u4eba\u58eb\u900f\u9732\u516c\u53f8\u65d7\u4e0b\u57fa \u91d1\u6574\u4f53\u8d4e\u56de\u91cf\u572818\u65e5\u8fbe\u52303\u4ebf\u5143\uff0c\u201c\u4e0e\u5386\u53f2\u76f8\u6bd4\uff0c\u7b97\u5f97\u4e0a\u662f\u5355\u65e5\u8d4e\u56de\u91cf\u6700\u591a\u7684\u4e00\u5929\u3002\u201d\u540c\u65f6\u5e02\u573a\u4e0a\u7eb7\u7eb7\u4f20\u95fb\u6709\u5bb6\u57fa\u91d1\u516c\u53f8\u65e5\u8d4e\u56de\u91cf\u5df2\u7ecf\u8fbe\u523020\u4ebf\u5143\u3002<\/font><\/p>\n<p><font face=\"\u5b8b\u4f53\" size=\"3\">\u5f88\u591a\u57fa\u91d1\u7ecf\u7406\u90fd\u900f\u9732\u6240\u6301\u57fa\u91d1\u8d4e\u56de\u91d1\u989d\u6bd4\u8f83\u5927\uff0c\u4f46\u540c\u65f6\u5927\u591a\u62d2\u7edd\u9732\u5177\u4f53\u6570\u5b57\u3002\u636e\u8bb0\u8005\u89c2\u5bdf\uff0c3\u670817\u65e5\u300118\u65e5\u80a1\u5e02\u66b4\u8dcc\uff0c\u57fa\u6c11\u4eec\u7eb7\u7eb7\u8868\u793a\u5931\u53bb\u4fe1\u5fc3\uff0c\u5728\u7f51\u70b9\u6392\u961f\u8d4e\u56de\u57fa\u91d1\u7684\u57fa\u6c11\u4eec\u6392\u8d77\u4e86\u957f\u961f\u3002\u7c97\u7565\u4f30\u8ba1\uff0c\u76ee\u524d\u5df2\u7ecf\u6709\u767e\u4ebf\u4ee5\u4e0a\u8d44\u91d1\u79bb\u573a\u3002<\/font><\/p>\n<p><font face=\"\u5b8b\u4f53\" size=\"3\">\u5f53\u7533\u8d2d\u57fa\u91d1\u548c\u8d4e\u56de\u57fa\u91d1\u7684\u6bd4\u4f8b\u4e3a1\u22368\uff0c\u8d4e\u56de\u9ad8\u6f6e\u5230\u6765\u4e86\u5417\uff1f\u4e00\u4f4d\u57fa\u91d1\u7ecf\u7406\u79f0\uff1a\u5f53\u5e02\u573a\u51fa\u73b0\u53cd\u5f39\u65f6\uff0c \u771f\u6b63\u7684\u8d4e\u56de\u9ad8\u6f6e\u624d\u4f1a\u5230\u6765\u3002\u4e2d\u4fe1\u8bc1\u5238\u9996\u5e2d\u5206\u6790\u5e08\u7a0b\u4f1f\u5e86\u8868\u793a\uff1a\u56e0\u4e3a\u73b0\u5728\u5e02\u573a\u6b63\u597d\u4e5f\u662f\u5904\u4e8e\u53cd\u5f39\u7684\u65f6\u671f\uff0c\u5982\u679c\u8fd9\u6b21\u53cd\u5f39\u7684\u901f\u5ea6\u975e\u5e38\u8fc5\u731b\uff0c\u53ef\u80fd\u4f1a\u5bfc\u81f4\u57fa\u91d1\u7684\u5927\u89c4\u6a21\u8d4e \u56de\u3002                          <\/font><\/p>\n<p><font face=\"\u5b8b\u4f53\"><font size=\"3\">\u8bf8\u591a\u8206\u8bba\u4e0e\u4e13\u5bb6\u90fd\u5df2\u65ad\u8a00\u725b\u5e02\u7ed3\u675f\uff0c\u201c\u53cd\u5f39\u5373\u51fa\u201d\u5df2\u7ecf\u6210\u4e3a\u591a\u5bb6\u94f6\u884c\u7406\u8d22\u7ecf\u7406\u6307\u5bfc\u5ba2\u6237\u57fa\u91d1\u64cd\u4f5c\u7684\u65b9\u9488\u3002\u800c\u53e6\u6709\u4e13\u5bb6\u5219\u8ba4\u4e3a\uff0c\u5982\u679c\u5927\u76d8\u7ee7\u7eed\u4e0b\u632b\u81f33500\u70b9\u4e0b\u65b9\uff0c\u57fa\u91d1\u8d4e\u56de\u5f88\u53ef\u80fd\u5927\u9762\u79ef\u6d8c\u73b0\u3002<\/font><\/font><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u57fa\u91d1\u8d4e\u56de\u5feb\u901f\u589e\u591a \u7f51\u7edc\u7248\u4e13\u7a3f \u8bb0\u8005 \u9093\u7f8e\u73b2 \u968f\u7740\u5927\u76d8\u7684\u8282\u8282\u4e0b\u632b\uff0c\u57fa\u91d1\u8d4e\u56de\u4e5f\u5448\u52a0\u901f\u6001\u52bf\u3002\u5404\u5bb6\u5730\u65b9\u5a92\u4f53\u7684\u62a5\u9053\u663e\u793a\uff0c\u5728\u5168\u56fd\u5404\u5927\u4e3b\u8981\u57ce\u5e02\u5747\u51fa\u73b0\u4e86\u8d4e\u56de\u52a0\u901f\u7684\u73b0\u8c61\u3002\u4f46\u5bf9\u4e8e\u8d4e\u56de\u9ad8\u6f6e\u4f55\u65f6\u51fa\u73b0\uff0c\u4e1a\u754c\u4eba\u58eb\u548c\u4e13\u5bb6\u770b\u6cd5\u4e0d\u4e00\u3002<\/p>\n","protected":false},"author":242,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[359,2205,1713,82,1016],"tags":[],"class_list":["post-319","post","type-post","status-publish","format-standard","hentry","category-china","category-chinese-corporate-law-case-study","category-in-chinese","category-news","category-1016"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/posts\/319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/users\/242"}],"replies":[{"embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/comments?post=319"}],"version-history":[{"count":0,"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/posts\/319\/revisions"}],"wp:attachment":[{"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/media?parent=319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/categories?post=319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/archive.blogs.harvard.edu\/guorui\/wp-json\/wp\/v2\/tags?post=319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}