中长期资金入市政策解读：耐心资本与长期资金聚焦在哪些方向？

瞬汻煝疵 · 掾駬䫟⼴ www.chinastock.com.cn 駩⯟煝疵䫟⼴ 騟ⲏ䖪꭛騣婞倁劅⻑溸╚㎼ꧼ岉駩⯟艧⚌劔ꮺ⪫⺶⩹鯰㛽僻 脹䖦鰑勔┱ꪍ劻鰑ꓭ臔撌㐃〘◲做⻔ ╚ꪍ劻鰑ꓭ⪝䉗侓瞬闌騣 2025 䌑 1 劓 23 傽 呦䖦間掾 l ⪸◟䲀Ⲙ╚ꪍ劻鰑ꓭ⪝䉗䈰✑溸㵄偢做呿 劓  傽╚㝠ꓭ鄌ⲋյ╚㎼駩漳⚷յ鯯侓ꌄյ☭ⲇ鰑徏獘⚷受걁ꌄյ╚㎼☭宑ꧼ鉿յꓭ鄌漳硅䙰㹾⪮ꌄ㣘臅⻉ⷧ⹿վ⪸◟䲀Ⲙ╚ꪍ劻鰑ꓭ⪝䉗䈰✑溸㵄类做呿տնվ做呿տ箄䩽╚㝠缋嵴䈰✑⚷駖䳀⮃溸⪸ꨴ潨吙♨广ꓭ鄌✅笡侊긞յ➶ꂛ鰑ꓭꪍ劻յ甯㴼鰑续䉗㐙╬呦䖦䲀Ⲙガ╃受ꯟ鰑ꓭյ獘⚷受걁㕈ꓭյ⚕╃䌑ꓭ㕈ꓭյ⪫Ⳬ㕈ꓭ瞏╚ꪍ劻鰑ꓭ溸嵤Ⲙնվ做呿տ┯☹⿱䍎◗䓝⯼鰑续䉗㐙⹿㺥╚溸◺괛闌⬑溸ꭄ뀨ꂖ╬鰑续䉗㐙溸ꪍ劻甯㴼┱⣍䎙⹿㺥㞳㴼◗㑏㵄㕈熝ն l 㸉 A 艧䉗㐙溸俠✅䔕⿱վ做呿տ㐃焝劻⫐㸞兇詇䳀䮵 A 艧䉗㐙溸嵤Ⲙ䙎⾕甯㴼䙎ն♈╚ꪍ劻匡澚갫濫侓瞬溸ꄢ婢訒㵄A 艧䉗㐙劔绍ꁹ匡剳㝃匡蔦╚ꪍ劻鰑ꓭ佻䭦A 艧䉗㐙溸鰑ꓭ긖㸞剳Ⲏ甯⣍䫌鰑脢溸ꪍ劻⟥䖦㸞ꂛ┞婢㙨点♈脯➶ꂛ A 艧䉗㐙溸둛鯵ꓪ⹿㺥ն l ╚ꪍ劻鰑ꓭ⪝䉗閕埛受ꯟ鰑ꓭ受ꯟ⪫⺶溸勶漩稝鰑分䫌鰑嬠❛⢟⛽┻⼯┬ꮴ鱶ⲹն 䌑勒╚㎼受ꯟ鰑ꓭꁾ氠✍뀭╬ . ┧☳⩧⪼╚艧玭⾕駩⯟䫌鰑ⷑ嬠 .%鿲  䌑勒┬ꮴ . ╗溯⮕掾ն 䌑┩㳌䍳勒受ꯟ⪫⺶䙰鰑ꓭꁾ氠✍뀭ꁒ . ┧☳⩧☭麄ꯟ⪫⺶勶漩稝鰑分ⷑ嬠.%鯯ꯟ⪫⺶ⷑ嬠 .%ն駩漳⚷全䊛⼍庣銩獏ⲇ◚♈  䌑鱎㝕㒘㎼劔受ꯟ⪫⺶嬓䌑假㙨受鰆溸 %氠◟䫌鰑 A 艧ն獘受㕈ꓭ䨗蔸 䌑  劓勒獘受㕈ꓭ㐃 A 艧䭦♎䉗⡽绢  ☳⩧ⷑ䙰閕埛溸 .%ն 䌑┩㳌䍳勒䭦艧䉗⡽㙨蔸  ☳⩧ⷑ A 艧嵤ꄽ䉗⡽溸 .%ꓨ♎鉿╃╬ꧼ鉿յ긌ꧼꓭ鄌瞏ն獘受㕈ꓭ䫌鰑낊呬♨ꪍ劻⚃⡽䫌鰑╬全勶漩鰑分䭦♎嬠❛ꂜ⛽◟┪ꮺ⡽ն⫄脚ꓭ 䌑勒㕈续⫄脚受ꯟ㕈ꓭ侅⪝ ☳⩧佻⮃  ☳⩧箕駉缏✍  ☳⩧䫌鰑ꁾ觝閕埛 . ┧☳⩧ն⚕膷╃䌑ꓭ 䌑勒⚕╃䌑ꓭ䫌鰑ꁾ觝閕埛 . ┧☳⩧ 䌑♨匡⪢㎼⚕╃䌑ꓭ㕈ꓭ䌑性䫌鰑侅漩椚 .%ն⪫Ⳬ勶漩稝㕈ꓭ 䌑  劓蔸  䌑  劓⪫Ⳬ㕈ꓭ╚勶漩稝㕈ꓭ溸閕埛銩⻓⮃僻兇溸㙨ꪍ鱶ⲹ㹐⪼儱⺇ 假侓┞䴗㲳侓瞬䔕⿱ 䌑  劓⾕  劓勶漩稝㕈ꓭ溸鰑分⬥⡽⾕⚌뀭性㝕䋀┪ⶬն l 脹䖦鰑勔┱ꪍ劻鰑ꓭ缏卐⺆⻔劔〘◲缏⻉䓝⯼㴥間侓瞬㸍⻔⾕缋嵴㜩蜖缏卐䙎杅䔰䧰♰駌╬续姍╚ꪍ劻鰑ꓭ⪝䉗䧶㸞全锢劔⯈◟♨┬┩╗做⻔┞儱假鯵气分ⲇ做⻔ն╚ꪍ劻鰑ꓭ臔撌◟㎼㵶䧹汻괛寛⾕獘⚷缋嵴溸ꪍꂜ⹿㺥╬璇䪫⮱假⾕分╃⮱假䳀❵㑏㵄溸鰑ꓭ⻑澃儱䲀Ⲙ假鯵气分ⲇ⹿㺥溸⪸ꨴⲇꓪն◝儱═ꓨ═假做⻔ն╚ꪍ劻鰑ꓭ♨ꃰ寛⛽낊ꯟ⾕ꪍ劻侅漩╬潨吙┱═ꓨ做⻔溸䫌鰑㺲䙎둛䍳排⻉ն╚ꪍ劻鰑ꓭ䫌鰑═假潸⪸⚕╃䧶分╃ꨄ茤㝉ⲙⲇ⚕╃Ⲏ㝕駦㜜剳假յ䪫勘煝⹿⾕䉗㐙䬥㺥ⲇ䍳ն┩儱㴘⪢ꁉꮪ鿲둛溸鰑分ն獘受յ⫄脚ꓭյ䌑ꓭ瞏鰑ꓭ㺲䙎┱绞⯈升㑊⪾劔剳둛ⶑꏕ䍳⻎僓Ⲏ点ꄋ⽟劻騫䱽┬㝠㎼⚕䑜뀖䧶㸞⹿䮢剳㝕✑氠☊㸞裯䕒剳㝃鰑ꓭ귱瀃ն l 낊ꯟ䳀獏㎼⫐缋嵴┬鉿溸낊ꯟ侓瞬訒㵄┯⹴뀔劻溸낊ꯟ㸉侓瞬槏闌┯⯒⛻溸낊ꯟ䉗㐙⟥䖦䚱㜩┯⹴뀔劻溸낊ꯟ㜾괛鱂䒙溸낊ꯟ嶯㜾缋嵴銻ꃹ溸낊ꯟ鰅儅䷧付ⲎⰦ溸낊ꯟ㐌罔䷧付痓⹿溸낊ꯟն ⮕卥䉞 匤鱪 (010-8092-7696 *yangchao_yj@chinastock.com.cn ⮕卥䉞溫駘罒焺S 煝疵ⲙ槏⽟耘╰ 潸⪸煝疵 2025-01-21杅劫册㹧膷㸉㝕稝鰑分⚃呬뀔劻溸⺈ 2025-01-14╚㎼駩漳⚷2025䌑笡缛䈰✑⚷駖闌騣鰑勔䉗㐙둛鯵ꓪ⹿㺥鴤䔴ꂛ┞婢僻冏 2024-12-312025 䌑⪢槊㝕稝鰑分䫌鰑㺥労⺈㹾·䭃勨 2024-12-272025 䌑艧䫌鰑㺥労愲巏·⷇䑆 2024-12-262025 䌑 A 艧䉗㐙䫌鰑㺥労ꓨ卐·臔ⲹ 2024-12-1912 劓駖䛉⚷駖掾駬䫟⼴耘臅⥈⚿ꄨ虹㞎剳䰄溸庱ꂛ䑑ꮴ䛉⟥⺵ 2024-12-13╚㝠缋嵴䈰✑⚷駖㸉䫌鰑溸⼅獏 2024-12-0912 劓╚㝠侓岖㹾⚷駖闌騣鱪䊬閕㸉䉗㐙䟩⽱濫☴▂ 2024-11-20㝠㎼⚕䑜뀖┺뀨㝠㎼⚕侊긞ⲙ䲀䉗㐙⛓⡽缏卐ꓨ㗛 2024-11-19⮵瘯 2025:♨燛㴼䙎䬿┯燛㴼䙎 2024-11-13╚駩 A 䭰俚䫌鰑勨⚷䱲駐㝕骮☊⺪鱎薌 2024-11-08☭㝕䊬㣘⚷⻑㠁✇澚䉗㐙 2024-11-08杅劫册䓝ꄑ⻑耘臅⥈ꮴ䛉䧶鱶◟驐䡪 2024-11-06耘㎼㝕ꄑ㸾㓪訒㴼㸉鰑勔䉗㐙䔕⿱⭠✇ 2024-11-03A 艧 2024 䌑┩㳌䫟╃缥掾駬ꓭ鄌鉿╃䊎Ⲙ A 艧漥⯈⟶㜩 瞬汻煝疵 · 掾駬䫟⼴ 騟ⲏ䖪꭛騣婞倁劅⻑溸╚㎼ꧼ岉駩⯟艧⚌劔ꮺ⪫⺶⩹鯰㛽僻ն 1 潨䓡 Catalog ┞յ ⪸◟䲀Ⲙ╚ꪍ劻鰑ꓭ⪝䉗䈰✑溸㵄偢做呿 .............................................................................................  ◝յ 㸉 A 艧䉗㐙溸俠✅䔕⿱ ....................................................................................................................  ┞ ⟛ꯟ鰑ꓭ .......................................................................................................................................  ◝ ⪢㎼獘⚷⟛걁㕈ꓭ ..........................................................................................................................  ┩ 㕈勔⫄脚⟛ꯟ㕈ꓭ ..........................................................................................................................  ㎃ ⚕膷╃䌑ꓭ .............................................................................................................