?´è?ç­??¥ï?å¦?ä½???å¾?2021?¡ç¥¨å¸??ºè??????

??????��??/STRONG>

???????¡å?èµ??????§å¾ª????¨å¤§ç±»è?产é??ç½?¸­?¸å???ä¼?

?????¨ç??è¿??¥ä??©ç???¶ä»£??è¿???ä¿¡ç?¨å?ºå±¡å±¡â???´é?·â??ï¼?????èµ?产å?¨å¤§ç±»è?产é??ç½?¸­?¸å???ä¼?ï¼?å±?æ°????ºæ????å¤?èµ?å½¢æ??ä¸?大活水ã???¶åº¦?ºç?ä¸??????ï¼?注å???¶ã??????èµ?????è´??¶åº¦????红å?¶åº¦ç­?å¤?项æ?¹é?©å??æ­¥æ?¨è?ï¼??¡å?èµ???ä¾??????§å¹³è¡¡æ?¼å?å°?ä¼???大å?©ç??A?¡èµ°?ºé?¿ç????

??????èµ?????æ±?ï¼?注å???¶æ?¹é?©ä?ä¸???èµ???æ±?大å?????

????注å???¶æ?¹é?©ä?ä¸???èµ???æ±???????2020å¹´ä?ä¸?IPO??????èµ??¨é?¢æ?¾å?ï¼???季度A?¡è??¥è??èµ?é«?å³°æ????IPO?¹é?????è®?021å¹´ä?ä¸?IPO?°é???¥æ?????½ï?384家ä?ä¸???èµ?3,232亿å????????èµ??¹é?????ä¸??¿å??ç§????¿å??¸æ?ç¨??¨é?¢æ????ï¼?å¼??¥å?????é¢?å¿?????èµ?ç­??¹å?ï¼???????2014å¹´å??2020å¹´å????èµ?å¹³å??æ°´å¹³??产ä?èµ????????¹é??????2020å¹?1??6?¥ï???å¹´æ?´ä?解ç?è§?æ¨?.5ä¸?亿ï???设å????????æ¯?大约14ï¼?ï¼?é¢?计è?模为6,308亿å????

??????èµ???ä¾?ç»?ï¼?2021å¹´å?æ°????ºæ????å¤?èµ?ä¸?大活水ï????¹å?³æ³¨??ä¸???ä¸?两个维度

????å±?æ°?è´¢å???ç»???è¿??ºé???¥å???2020å¹´å??ä¸?季度???¡ç±»?ºé????è¡?è§?模å??è®?2,537亿å??ï¼?é¢?è®?020å¹´å?¨å¹´??2021å¹´è¾¾14,417??8,508亿å????1ï¼??????¡ç¥¨???ºé??ï¼?é¢?è®?020å¹´å?¨å¹´??2021å¹´å??è¡?2,247??1,317亿å??ï¼?2ï¼?æ··å?????ºé??ï¼?é¢?è®?020å¹´å?¨å¹´??2021å¹´å???¡å?????µæ´»???ºé????è¡?12,171??7,190亿å????2021å¹´å??è¡?è§?模é?äº?2019å¹´ã???¥ä?äº?2020å¹´ã??

?????¿é?±å????????èµ?产ç????å¥??´å??平稳??ä¿??©è????¥å?2019å¹´å???5,150亿å???¡ç¥¨???ºé????èµ?è§?模ï?2020å¹´å??2021å¹´å???½è¾¾2,623??2,979亿å??????设ä?è´¹æ?¶å?¥å???ç»´æ??7ï¼?ï¼??¡ç¥¨???ºé????èµ???ä¿?è´¹ä?é¢???12ï¼?å·þ@?³ã??ä¿??©å???¸å??好é????平衡ï¼??©ç?????????¡å?????涨å?è¾?大ç?????ä¸?ï¼?ä¸???????ç½????½ç?¸å??´å????è¡¡ã??

???????¥ä?å¹´ï?ä¸?亿é??级å?èµ?æµ????¡ã???°å?????????µå??ï¼??¨ç??å¤????åºþ9??大æ?¾æ°´??ï¼?è´??©ç???¶ä»£??æ­¥æ?¥ä¸´ï¼???è¾¾å?½å?ä»??ºå??°è?¡å?ï¼??½é??¸´ä¸??¿æ???????¶ç??大å?ä¸??????????ä¸??½ç?æµ????§æ?§ã??è´¢æ?¿è´§å¸??¿ç???å®?????空é?´ï?ä¸??¹é???使å?½å??èµ?产ä?æµ·å??¸å?³æ?§è?ä½?ï¼??þ???¹é???让中?½ç???ºå????¡å??¨å?¨ç??èµ?产中???·æ?§ä»·æ¯???ä¿?å®?ä¼°è????¥ä?å¹´å?????????°å¹³??æ¯?å¹?000-3000亿å????èµ???继续æµ??¥ï?å¤?èµ????¡å??A?¡æ???å¸??¼æ?ä¾?????继续????3ä¸??¾å???¹å·¦?³ã??

?????þ???¹é????³æ³¨??ä¸?èµ???å¯??¡è???????æµ????µã???????°ç?????????ºé????ç½?¸¯?¡ç??ä»?ä½?æ¯?ä¾?ä¸?é«?ï¼?????æ¸??¡å?ºæ???¢å??好ã???°ç?æµ???????????ä¼°å?¼å?·å??¸å???ï¼???å¹´æ????继续?¸å?3000亿左?³è?????ä¸?ï¼?å¯??¡å??ºç??èµ???????ä¸?å®?????æµ???

????é£??©æ??示ï?æµ??¨æ?§è?é¢????¶ç´§??

?????¥å??æ­£æ??

????1.?¡å?èµ??????§å¾ª????¨å¤§ç±»è?产é??ç½?¸­?¸å???ä¼?

?????¡å?èµ??????§å¾ª????¨å¤§ç±»è?产é??ç½?¸­?¸å???ä¼????¨ç??è¿??¥ä??©ç???¶ä»£??è¿???ä¿¡ç?¨å?ºå±¡å±¡â???´é?·â??ï¼?????èµ?产å?¨å¤§ç±»è?产é??ç½?¸­?¸å???ä¼?ï¼?å±?æ°????ºæ????å¤?èµ?å½¢æ??ä¸?大活水ã???¶åº¦?ºç?ä¸??????ï¼?注å???¶ã??????èµ?????è´??¶åº¦????红å?¶åº¦ç­?å¤?项æ?¹é?©å??æ­¥æ?¨è?ï¼??¡å?èµ???ä¾??????§å¹³è¡¡æ?¼å?å°?ä¼???大å?©ç??A?¡èµ°?ºé?¿ç????

????

????2. èµ?????æ±?ï¼?注å???¶æ?¹é?©ä?ä¸???èµ???æ±?大å?????

????注å???¶æ?¹é?©ä?ä¸???èµ???æ±???????2020å¹´ä?ä¸?IPO??????èµ??¨é?¢æ?¾å?ï¼???季度A?¡è??¥è??èµ?é«?å³°æ????IPO?¹é?????è®?021å¹´ä?ä¸?IPO?°é???¥æ?????½ï?384家ä?ä¸???èµ?3,232亿å????????èµ??¹é?????ä¸??¿å??ç§????¿å??¸æ?ç¨??¨é?¢æ????ï¼?å¼??¥å?????é¢?å¿?????èµ?ç­??¹å?ï¼???????2014å¹´å??2020å¹´å????èµ?å¹³å??æ°´å¹³??

????

???????2020å¹?1??6?¥ï???å¹´æ?´ä?解ç?è§?æ¨?.5ä¸?亿ï???设å????????æ¯?大约14ï¼?ï¼?é¢?计è?模为6,308亿å????

????

????3. èµ???ä¾?ç»?ï¼?2021å¹´å?æ°????ºæ????å¤?èµ?ä¸?大活水ï????¹å?³æ³¨??ä¸???ä¸?两个维度

????3.1.å±?æ°?è´¢å???è¿??ºé???¥å?ï¼?2021å¹´é?è®?508亿å??

????å±?æ°?è´¢å???ç»???è¿??ºé???¥å???2019å¹´å??2020å¹´ä?季度???¡ç±»?ºé??è§?模达21,430??51,569亿å??ï¼?2020å¹´å??ä¸?季度???¡ç±»?ºé????è¡?è§?模å??è®?2,537亿å??ï¼?é¢?è®?020å¹´å?¨å¹´??2021å¹´è¾¾14,417??8,508亿å????

????1ï¼??????¡ç¥¨???ºé??ï¼?2019å¹´å??2020å¹´å??ä¸?季度??è¡?388??1,954亿å??ï¼?é¢?è®?020å¹´å?¨å¹´??2021å¹´å??è¡?2,247??1,317亿å??ï¼?2021å¹´å??è¡?è§?模é?äº?2019å¹´ã???¥ä?äº?2020å¹´ã??

????2ï¼?æ··å?????ºé??ï¼?2019å¹´å??2020å¹´å??ä¸?季度??è¡?2810??13,398亿å??ï¼??¶ä¸­???¡å?????µæ´»???ºé??2,210??10,583亿å??ï¼???æ¯?????¸º78.6ï¼???79ï¼?ï¼?é¢?è®?020å¹´å?¨å¹´??2021å¹´å???¡å?????µæ´»???ºé????è¡?12,171??7,190亿å????

????

????3.2.?¿é?±å????????èµ?产è??å¥??´å??平稳ï¼?2021å¹´é?è®?979亿å??

?????¿é?±å????????èµ?产ç????å¥??´å??平稳??ä¿??©è????¥å?2019å¹´å???5,150亿å???¡ç¥¨???ºé????èµ?è§?模ï?2020å¹´å??2021å¹´å???½è¾¾2,623??2,979亿å????

????2020å¹´å??ä¸?季度ä¿?è´¹æ?¶å??.70ä¸?亿ï?è¾?2019å¹´å??ä¸?季度3.45ä¸?亿å???.2ï¼?ï¼???è®?020å¹´å??2021å¹´å?¨å¹´ä¿?è´¹æ?¶å?¥å???ç»´æ??7ï¼?ï¼????¥ä¸¤å¹´æ????è¾?.56ä¸?亿å??4.88ä¸?亿ã??

????2020å¹´å??ä¸?季度?¡ç¥¨???ºé????èµ???ä¿??©å???¸ä?è´¹ä?é¢???12.9ï¼?ï¼?è¾?2019å¹?3.2ï¼?ä¸???0.3ä¸??¾å???¹ã??ä¿??©å???¸å??好é????平衡ï¼??©ç?????????¡å?????涨å?è¾?大ç?????ä¸?ï¼?ä¸???????ç½????½ä??¸å??´å????è¡¡ã??

????

????3.3.å¤?èµ?????å¹´ä?亿æ????¡ï??³æ³¨??ä¸???ä¸?两个维度

???????¥ä?å¹´ï?ä¸?亿é??级å?èµ?æµ????¡ã????017-2020ä¸???å¹´ç??ä¸?å¹´å???¶é?´é??ï¼?????èµ?????æµ??¥è?1ä¸?亿å??ï¼?å¤?èµ????¡å??¼å??A?¡æ???å¸??¼æ?ä¾?ä»?1.7ï¼?????.7ï¼?ï¼?????3ä¸??¾å???¹ï?ï¼???A?¡æ???å¸??¼ï????¤ä????人ï???æ¯?ä¾?ä»?3.3ï¼?????.0ï¼?ï¼?????5.7ä¸??¾å???¹ï?ï¼?两项??????ä¹??½ç¿»äº?两å?????°å?????????µå??ï¼??¨ç??å¤????åºþ9??大æ?¾æ°´??ï¼?è´??©ç???¶ä»£??æ­¥æ?¥ä¸´ï¼???è¾¾å?½å?ä»??ºå??°è?¡å?ï¼??½é??¸´ä¸??¿æ???????¶ç??大å?ä¸??????????ä¸??½ç?æµ????§æ?§ã??è´¢æ?¿è´§å¸??¿ç???å®?????空é?´ï?ä¸??¹é???使å?½å??èµ?产ä?æµ·å??¸å?³æ?§è?ä½?ï¼??þ???¹é???让中?½ç???ºå????¡å??¨å?¨ç??èµ?产中???·æ?§ä»·æ¯??????§ç????å¤?èµ?æµ????¡ç????å¥???è¶??¿ï???ä¹????????¡æ???¥æ???·å?¸å???????èµ?ä»·å?¼å???§ä»·æ¯?ï¼?ä¿?å®?ä¼°è????¥ä?å¹´å?????????°å¹³??æ¯?å¹?000-3000亿å????èµ???继续æµ??¥ï?å¤?èµ????¡å??A?¡æ???å¸??¼æ?ä¾?????继续????3ä¸??¾å???¹å·¦?³ã??

????

?????þ???¹é????³æ³¨??ä¸?èµ???å¯??¡è???????æµ????µã??ä»?å¹´å??ä¸?季度ï¼?A?¡å?????ºé????æ¸??¡æ??èµ?è§?模ä?1000亿å??å·þ@?³æ?????³æ?¥è?2500亿å??ï¼?å¢???äº?1500亿å??ï¼?å¢??¿ä?1.5?????????°ç?????????ºé????ç½?¸¯?¡ç??ä»?ä½?æ¯?ä¾?ä¸?é«?ï¼?????æ¸??¡å?ºæ???¢å??好ã???°ç?æµ???????????ä¼°å?¼å?·å??¸å???ï¼???å¹´æ????继续?¸å?3000亿左?³è?????ä¸?ï¼????½å?A?¡å??ºç??èµ???????ä¸?å®?????æµ???

????

????对ä??¶ä?èµ???ä¾?ç»?ï¼?é¢?è®?021å¹´ï?1ï¼???????å½±å??ï¼???å¹´å??红è?模ç?¥å?äº?ä»?å¹´ç??1.3ä¸?亿ï?è¾?1581亿å??ï¼?2ï¼?å¸??ºå??å½?平稳?¶æ??ï¼???年两??èµ???è§?模æ?°å?çº?000亿å????3ï¼???è´??模延ç»??å¹´æ?¥è??¿ï???å¹´å??è´??模å???½è¾¾800亿å????

????

????é£??©æ??ç¤?/STRONG>

????é£??©æ??示ï?ä¸???©æ?þ@??级ã??å·¨å??IPO?²å?»å??ºã??æµ??¨æ?§è?é¢????¶ç´§

?????¥æ?ï¼??´ä?è¯??¸ç??¥å?¢é??

?¨é?¨è?è®