{"id":44416,"date":"2026-04-11T04:54:24","date_gmt":"2026-04-11T04:54:24","guid":{"rendered":"https:\/\/www.vtmarketsmy.com\/cn\/uncategorized\/%e9%81%93%e6%98%8e%e8%af%81%e5%88%b8%e9%a2%84%e8%ae%a13%e6%9c%88%e5%87%ba%e5%8f%a3%e9%99%8d%e6%b8%a9%ef%bc%8c%e5%8f%97%e5%9b%a4%e8%b4%a7%e5%b8%a6%e5%8a%a8%e8%bf%9b%e5%8f%a3%e5%9b%9e%e5%8d%87%ef%bc%8c\/"},"modified":"2026-04-11T04:54:24","modified_gmt":"2026-04-11T04:54:24","slug":"%e9%81%93%e6%98%8e%e8%af%81%e5%88%b8%e9%a2%84%e8%ae%a13%e6%9c%88%e5%87%ba%e5%8f%a3%e9%99%8d%e6%b8%a9%ef%bc%8c%e5%8f%97%e5%9b%a4%e8%b4%a7%e5%b8%a6%e5%8a%a8%e8%bf%9b%e5%8f%a3%e5%9b%9e%e5%8d%87%ef%bc%8c","status":"publish","type":"post","link":"https:\/\/www.vtmarketsmy.com\/cn\/live-updates\/%e9%81%93%e6%98%8e%e8%af%81%e5%88%b8%e9%a2%84%e8%ae%a13%e6%9c%88%e5%87%ba%e5%8f%a3%e9%99%8d%e6%b8%a9%ef%bc%8c%e5%8f%97%e5%9b%a4%e8%b4%a7%e5%b8%a6%e5%8a%a8%e8%bf%9b%e5%8f%a3%e5%9b%9e%e5%8d%87%ef%bc%8c\/","title":{"rendered":"\u9053\u660e\u8bc1\u5238\u9884\u8ba13\u6708\u51fa\u53e3\u964d\u6e29\uff0c\u53d7\u56e4\u8d27\u5e26\u52a8\u8fdb\u53e3\u56de\u5347\uff0c\u540c\u65f6\u6210\u672c\u4e0a\u5347\u5a01\u80c1\u4ea7\u51fa\u4e0e\u51fa\u53e3\u9700\u6c42"},"content":{"rendered":"

TD Securities\u9884\u671f\uff0c\u4e2d\u56fd3\u6708\u51fa\u53e3\u57281\u6708\u548c2\u6708\u5f3a\u52b2\u8868\u73b0\u540e\u5c06\u653e\u7f13\u3002\u6295\u5165\u6210\u672c\uff08\u6307\u751f\u4ea7\u6240\u9700\u539f\u6750\u6599\u3001\u96f6\u90e8\u4ef6\u3001\u80fd\u6e90\u4e0e\u8fd0\u8f93\u7b49\u6210\u672c\uff09\u4e0a\u5347\uff0c\u53ef\u80fd\u62d6\u6162\u751f\u4ea7\u901f\u5ea6\uff0c\u5e76\u5728\u77ed\u671f\u5185\u538b\u5236\u51fa\u53e3\u589e\u957f\u3002<\/p>\n

\u82e5\u5f53\u5c40\u5728\u7f8e\u4f0a\u51b2\u7a81\u80cc\u666f\u4e0b\u52a0\u5927\u5bf9\u5173\u952e\u8d27\u7269\u4e0e\u5927\u5b97\u5546\u54c1\uff08\u5982\u539f\u6cb9\u3001\u94dc\u7b49\u57fa\u7840\u539f\u6750\u6599\uff09\u7684\u56e4\u8d27\uff08\u6307\u63d0\u524d\u4e70\u5165\u5e76\u50a8\u5907\uff0c\u4ee5\u5e94\u5bf9\u4f9b\u5e94\u4e2d\u65ad\u6216\u4ef7\u683c\u4e0a\u6da8\uff09\uff0c\u8fdb\u53e3\u53ef\u80fd\u9ad8\u4e8e\u9884\u671f\u3002\u5373\u4f7f3\u6708\u5de5\u4e1a\u751f\u4ea7\uff08\u5de5\u5382\u6574\u4f53\u4ea7\u51fa\uff09\u4fdd\u6301\u7a33\u5b9a\uff0c\u540c\u6837\u7684\u6210\u672c\u538b\u529b\u4e5f\u53ef\u80fd\u5f71\u54cd\u4f01\u4e1a\u7684\u751f\u4ea7\u8ba1\u5212\u3002<\/p>\n

Q1 Growth Outlook And Consumer Demand<\/h3>\n

\u82e5\u6d88\u8d39\u8005\u5728\u519c\u5386\u65b0\u5e74\uff08CNY\uff09\u671f\u95f4\u63d0\u524d\u6d88\u8d39\uff0c\u52a0\u4e0a\u6d88\u8d39\u54c1\u201c\u4ee5\u65e7\u6362\u65b0\u201d\u8865\u8d34\uff08\u653f\u5e9c\u8865\u8d34\u6d88\u8d39\u8005\u66f4\u6362\u5bb6\u7535\u3001\u6c7d\u8f66\u7b49\u8010\u7528\u54c1\uff09\u8f83\u65e9\u63a8\u51fa\uff0c\u96f6\u552e\u9500\u552e\u53ef\u80fd\u504f\u5f31\u3002TD Securities\u9884\u8ba1\u7b2c\u4e00\u5b63GDP\u540c\u6bd4\u589e\u957f4.8%\uff0c\u4e3b\u8981\u7531\u5b63\u521d\u7684\u51fa\u53e3\u4e0e\u5236\u9020\u4e1a\u5e26\u52a8\u3002<\/p>\n

\u6211\u4eec\u8bb0\u5f97\uff0c2025\u5e74\u7684\u5730\u7f18\u653f\u6cbb\u51b2\u7a81\u66fe\u63a8\u52a8\u4e2d\u56fd\u56e4\u79ef\u5927\u5b97\u5546\u54c1\uff0c\u4ee4\u8fdb\u53e3\u6570\u636e\u660e\u663e\u8df3\u5347\u3002\u968f\u7740\u7ea2\u6d77\u822a\u8fd0\u901a\u9053\u7d27\u5f20\u5347\u6e29\uff08\u6307\u822a\u7ebf\u53d7\u51b2\u7a81\u6216\u5b89\u5168\u98ce\u9669\u5f71\u54cd\uff0c\u8fd0\u8f93\u53d7\u963b\u3001\u6210\u672c\u4e0a\u5347\uff09\uff0c\u5e02\u573a\u6b63\u5173\u6ce8\u672a\u6765\u6570\u5468\u662f\u5426\u4f1a\u51fa\u73b0\u7c7b\u4f3c\u7684\u201c\u6218\u7565\u6027\u4e70\u5165\u201d\uff08\u56fd\u5bb6\u6216\u5927\u578b\u673a\u6784\u4e3a\u4fdd\u969c\u4f9b\u5e94\u800c\u96c6\u4e2d\u91c7\u8d2d\uff09\u3002\u4e2d\u56fd3\u6708\u6700\u65b0\u8d22\u65b0\u5236\u9020\u4e1aPMI\uff08\u91c7\u8d2d\u7ecf\u7406\u6307\u6570\uff0c\u7528\u4e8e\u8861\u91cf\u5236\u9020\u4e1a\u666f\u6c14\u5ea6\uff1b50\u4ee5\u4e0a\u4ee3\u8868\u6269\u5f20\uff09\u4e3a50.9\uff0c\u7565\u9ad8\u4e8e\u8363\u67af\u7ebf\uff1b\u4f46\u6295\u5165\u54c1\u4ef7\u683c\u5206\u9879\u6307\u6570\u5347\u81f318\u4e2a\u6708\u65b0\u9ad8\uff0c\u503c\u5f97\u8b66\u60d5\u3002<\/p>\n

\u56e4\u8d27\u52a0\u901f\u7684\u98ce\u9669\uff0c\u610f\u5473\u7740\u5173\u952e\u5de5\u4e1a\u4e0e\u80fd\u6e90\u5546\u54c1\u5b58\u5728\u660e\u663e\u4e0a\u884c\u7a7a\u95f4\u3002\u5e03\u4f26\u7279\u539f\u6cb9\u671f\u8d27\uff08\u4ee5\u5e03\u4f26\u7279\u539f\u6cb9\u4e3a\u6807\u7684\u7684\u5408\u7ea6\u4ef7\u683c\uff09\u8fd1\u4e00\u4e2a\u6708\u5df2\u4e0a\u6da8\u8fd110%\uff0c\u81f3\u6bcf\u687692\u7f8e\u5143\u4ee5\u4e0a\uff0c\u53ef\u80fd\u662f\u66f4\u5927\u89c4\u6a21\u56fd\u5bb6\u652f\u6301\u91c7\u8d2d\u7684\u65e9\u671f\u4fe1\u53f7\u3002\u4ea4\u6613\u8005\u53ef\u8003\u8651\u505a\u591a\u539f\u6cb9\u6216\u94dc\u671f\u8d27\uff08\u901a\u8fc7\u5408\u7ea6\u62bc\u6ce8\u4ef7\u683c\u4e0a\u6da8\uff09\uff0c\u6216\u7528\u770b\u6da8\u671f\u6743\uff08\u4ef7\u683c\u4e0a\u6da8\u65f6\u83b7\u5229\u7684\u6743\u5229\uff09\u6765\u9650\u5b9a\u98ce\u9669\uff0c\u540c\u65f6\u628a\u63e1\u7531\u8fdb\u53e3\u9700\u6c42\u5e26\u6765\u7684\u6f5c\u5728\u4e0a\u884c\u3002<\/p>\n

Positioning For Costs Currency And Volatility<\/h3>\n

\u53cd\u8fc7\u6765\uff0c\u6295\u5165\u6210\u672c\u957f\u671f\u9ad8\u4f01\u6700\u7ec8\u4f1a\u6324\u538b\u4f01\u4e1a\u5229\u6da6\u7387\uff08\u5229\u6da6\u5360\u6536\u5165\u6bd4\u4f8b\uff09\uff0c\u5e76\u53ef\u80fd\u524a\u5f31\u51fa\u53e3\u589e\u957f\uff0c\u7c7b\u4f3c2025\u5e74\u7b2c\u4e8c\u5b63\u51fa\u73b0\u7684\u60c5\u51b5\u3002\u56e0\u6b64\uff0c\u53ef\u8003\u8651\u5bf9\u5236\u9020\u4e1a\u4e0e\u51fa\u53e3\u4f01\u4e1a\u6743\u91cd\u8f83\u9ad8\u7684\u4e2d\u56fd\u80a1\u6307\u8fdb\u884c\u5bf9\u51b2\uff08\u7528\u76f8\u53cd\u5934\u5bf8\u964d\u4f4e\u635f\u5931\uff09\u6216\u504f\u7a7a\u5e03\u5c40\u3002\u4e70\u5165\u8ddf\u8e2a\u5bcc\u65f6\u4e2d\u56fdA50\u6307\u6570\u7684ETF\u770b\u8dcc\u671f\u6743\uff08\u4ef7\u683c\u4e0b\u8dcc\u65f6\u83b7\u5229\u7684\u6743\u5229\uff09\uff0c\u53ef\u76f4\u63a5\u62bc\u6ce8\u7ecf\u6d4e\u6216\u76c8\u5229\u653e\u7f13\u5e26\u6765\u7684\u4e0b\u884c\u98ce\u9669\u3002<\/p>\n

\u8fd9\u79cd\u73af\u5883\u53ef\u80fd\u9020\u6210\u5206\u5316\u5e76\u5bf9\u4eba\u6c11\u5e01\u5f62\u6210\u4e0b\u884c\u538b\u529b\uff1a\u5927\u5b97\u5546\u54c1\u8fdb\u53e3\u8d26\u5355\u4e0a\u5347\uff08\u8fdb\u53e3\u6210\u672c\u589e\u52a0\uff09\uff0c\u800c\u51fa\u53e3\u6536\u5165\u9762\u4e34\u963b\u529b\u3002\u53ef\u8003\u8651\u901a\u8fc7USD\/CNH\uff08\u7f8e\u5143\u5151\u79bb\u5cb8\u4eba\u6c11\u5e01\uff1b\u79bb\u5cb8\u4eba\u6c11\u5e01\u4e3b\u8981\u5728\u5883\u5916\u5e02\u573a\u4ea4\u6613\uff09\u7684\u4e0a\u884c\u5e03\u5c40\u6765\u5e94\u5bf9\uff0c\u4f8b\u5982\u4f7f\u7528\u770b\u6da8\u4ef7\u5dee\uff08\u540c\u65f6\u4e70\u5165\u4e0e\u5356\u51fa\u4e0d\u540c\u6267\u884c\u4ef7\u7684\u770b\u6da8\u671f\u6743\uff0c\u4ee5\u964d\u4f4e\u6210\u672c\u5e76\u9501\u5b9a\u90e8\u5206\u6536\u76ca\u533a\u95f4\uff09\uff0c\u5728\u4eba\u6c11\u5e01\u6e29\u548c\u8d2c\u503c\u65f6\u83b7\u5229\u3002\u4e0d\u786e\u5b9a\u6027\u4e0a\u5347\u4e5f\u4f7f\u5f97\u53ef\u8003\u8651\u53d7\u76ca\u4e8e\u6ce2\u52a8\u7387\u4e0a\u5347\u7684\u7b56\u7565\uff0c\u4f8b\u5982\u4e70\u5165\u8de8\u5f0f\u671f\u6743\uff08\u540c\u4e00\u6807\u7684\u540c\u65f6\u4e70\u5165\u770b\u6da8\u4e0e\u770b\u8dcc\u671f\u6743\uff0c\u62bc\u6ce8\u4ef7\u683c\u5c06\u5927\u5e45\u6ce2\u52a8\uff09\u5e76\u7528\u4e8e\u7279\u5b9a\u4e0e\u5927\u5b97\u5546\u54c1\u76f8\u5173\u7684\u80a1\u7968\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"

\u51fa\u53e3\u6216\u5728\u524d\u4e24\u6708\u5f3a\u52b2\u540e\u653e\u7f13\uff0c\u5173\u952e\u98ce\u9669\u662f\u6210\u672c\u98d9\u5347\u4e0e\u5730\u7f18\u51b2\u7a81\u89e6\u53d1\u56e4\u8d27\uff0c\u63a8\u9ad8\u8fdb\u53e3\u4e0e\u6cb9\u94dc\u3002\u4ea4\u6613\u5173\u6ce8\u505a\u591a\u5546\u54c1\u3001\u5bf9\u51b2A50\u3001\u5e03\u5c40USD\/CNH\u4e0e\u6ce2\u52a8\u7387\u3002<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[129],"tags":[],"class_list":["post-44416","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/44416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/comments?post=44416"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/posts\/44416\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/media?parent=44416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/categories?post=44416"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarketsmy.com\/cn\/wp-json\/wp\/v2\/tags?post=44416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}