????ç¬??ï¼???管主?¨å?导æ??强å?¶é??ä½?è´??ºæ????»´?¤é?¶è?????·®ï¼????ºå?è¡???????延续ï¼???è¿?????ºå?¶å?导ç???»å????å°???ç¬??ï¼?ä½??©ç????ç»?¸¦?¨å?°äº§??å±?æ°???èµ???æ±?好转+ä¿¡è´·é¢?åºþ>??§ï?ä¿¡è´·è¿??¥â????稳价å¾??????¶æ?ï¼?????ä¿¡ç?¨æ?©å???ç»??¨å?¨ç?æµ?好转ï¼?è´§å??¿ç?è½???ï¼??ºå?å°???¸´è°??´å??????ç¬??ï¼?å¼????????²å???è°??´ç??è§þ@???????½å?¨ä???管æ?¿ç?ï¼??ºæ??è¡?为å??¨ä?稳å???ç´???æ¯?å¦?èµ?管ç?ä¸???管å?ä½?æ·±å??ï¼?信贷空转???ï¼???è´¢æ??èµ?å­?款ç?ä¼?ä¸?ä¼?ç®?ä½?空转????ä¸?çª??´ç??è§þ@?????¨ä?æµ·å?ç»?æµ?è¶?é¢???ä¸?è¡?ï¼??????½å??ç»?æµ??????¨å??ä¸?足ï?è´§å??¿ç????½è?è¿????°æ?¾æ?¾ã??

????é£??©æ??示ï??°ç?é£??©è?é¢???ï¼??¿ç?????è°??´ã??

????æ­£æ??

????01???¨ç??¥è??¹ï??¶è???·®??è­þ=??线â??ä¸??ºå??´å???/P>

????ä¸??¨ä?季度ç»?æµ??°æ????å¸?ï¼?èµ????¢æ?????¶æ??ï¼??ºå????¡å??强ã???¨ä?ï¼?MLF??å¢?ä»·å¹³ï¼?å¤????????????满足?????ºæ????æ±?ï¼??¡å?表ç?°è?强ï??¶ç?????´ä?ä¸?è¡????¨ä?ï¼?ä¸?季度?°æ????å¸?ï¼?GDP??æ¯?4.5ï¼??¥è?é¢???ï¼?ä½?ç»???????????ï¼??©ç??????å°?å¹?ä¸?è¡????¨ä?èµ????¢è¾¹???¶æ??ï¼??ºå??¶ç??????ä¸???ä¸????¨å???©ç??LPR?¥ä»·??稳ï?ä¸???å¤??????????°æ????å¸?ä¼?ï¼?强è?è´§å??¿ç?å°?继续以æ??为主??稳å?ºå?å®?ä½?ç»?æµ???????ç»???????åºþ

????ä¸??¨å????³æ³¨??ç»?æµ??°æ????å¸?ï¼?ä½?并没??为å?ºå?ç»??ºç?æ¡?ï¼?ä¹?è§???ä¾??§ä?è§?ï¼?è°¨æ????ä»??¶è°¨?????»é??ä¸???ï¼?4.5ï¼???GDPå¢????¾ç?¶ç?¥è?å¸??ºé???ï¼?ä½??°æ??????å­??¨å??ä¸???离ï?

????ï¼?1ï¼???æ¯?å¢???ä¸????è¶??¿è??离ï?1-2??æ¶?è´¹å????èµ?表ç?°ä???ï¼?????????äº?ä»?å¹´è?乡è?å¹´ç?????????????ä¿?主ä?èµ???+è´¢å?¡æ???ºæ?å¹´å???¨ä?+天æ?????ç­????¶å??ç´???????ä½?3??ä¸?è¿°å??ç´?æ¶???ï¼????¤å?ºæ?°å??????èµ???社é?¶ï?两年平å????æ¯?ï¼????????½ï?????????????¨æ?¾ç???å½??¶ï?äº?季度å­??¨ä??ºæ?°æ??åº?ï¼???æ¯??°æ??»§ç»?µ°å¥½æ²¡????¿µ??

????ï¼?2ï¼????»æ?????ºç?°å??????3???°äº§?°æ?????????¾ï?ä¸??¹é????¨å?½å??¢ç???????°æ?????30??ï¼?说æ??ä½??½çº§??å¸??????¹å??å¹?åºþ????é«??½çº§??å¸????þ???¹é????°å?å·¥ã???½å·¥??竣工?¢ç§¯??æ¯?????¸º-29ï¼???-5.2ï¼???32ï¼?ï¼?å¼?å·¥ä?竣工?????????ºæ?¿ä??°é??æµ?å°?ä¸?足以?????°å?å·¥å???¿å?°å¤§å¹?????ï¼??¿ä»·é¢???ä¹???å¾???½¬ï¼??°äº§å¾??????????ï¼?è¿?ä¹?????ºå??°äº§ä¿????ç»??§å???????????

????ï¼?3ï¼??ºå?£ç??°æ??????ç»??§é??è¦?è§?å¯????ºå?£å?°æ?¹é????°å???¡ç??°å?ºæ?´å?ï¼?产å???¹é???æ²¹å???¢é??ç­??³æ³¨??ç»??§ï?ä¸??©å?½ã??è¶????°æ???ºç?°ç??????离ï??½æ???³ç???ºå?£æ?°æ?????½æ???¶æ??§å??ç´???????ç¾??½å?»å?å­?ï¼?ä¸???欧ç?å­??¨è¡°??é£??©ï??¿æ?????¨ç????å¸þ=?¥å???°ï?å¹´å???ºå?£å???大æ???ä¸?è¡???

????ï¼?4ï¼?ä¿¡è´·?°æ?????????æ±???离ã??ä¿¡è´·?°æ???为å???»æ????ï¼?é¢?示é????对ç?æµ?????????åºþA?大ï?ä½?æº?äº??¶è?主å?¨æ???¾è??????èµ???æ±???正好è½??å±??¨å??¨ç©ºè½????µã??汽车???°äº§ç­??¿é?¾æ?¡è?ä¸??????¨è?½è???ç¡????

????

????äº?季度???¹å?³æ³¨ä¸¤å¤§å¾????½å?þ=?´ä¸º????ï¼???å°±ä?-å·¥è?-æ¶?è´¹â???????§å¾ª??»¥???°äº§ä¾????????§å¾ª???è¿?å°????æµ?å¤?????ç»??§ç???³é????????两大å¾???·²????æ­¥æ?¹å??????ç»???¿å??好ï?ä½???åºþ@??¾æ??å¤????å¾?ï¼???ä¸?????ï¼?

????ä¸??????å°±ä?-?¶å??æ¶?è´¹â????å¾????¨ç?步修å¤?ï¼?ä¼?导é??è¦??¶é?´ã???ºè??¾ç»´??强å?²ï?é«????????ç»??§ï?ä¸?å¤??è°??¥æ?¾ç¤ºå°±ä?é¢????¹å??å¹?åºþ??äº??¶å?¥é???ä¼?äº?æ¶?è´¹å?¾å??ï¼????³ç??å°±ä??°é????好ä?å°±ä?è´¨é??ï¼?æ¶?è´¹å?¾å??ä»???å¾??¹å??ï¼?ä»?æ¶?è´¹è?½å???°æ?è´¹æ???¿ç??????ä¼?导è???è¦??¶é?´ã??

????äº?????°äº§????æ­§å?大ã???°å?å·¥æ???¾å¼±äº?竣工ï¼?说æ??ä¸?季度主è?????????è¿????交楼???¿å?°äº§?????ºç?°å??æ­§ï??¿ä?èµ????¢æ????好转ï¼??¿å?°ç????ä»??¨å??¨æ?¹å??ï¼???å¸????????¾ï?å®??°è???§å¾ª?????è¦??¶é?´ä?å¹?åºþ=??????

?????»ä?ï¼?????æ¯?ä¸??ä¸??¢å???å¥?????åºþ@??¨ä???ï¼?导è?´é???å·??大ã????人å?????è¿?ç§?å±??¢å?延续?????¸å?ç¡?????¹å?¨ä?ï¼?ä¸?季度?°æ???é¢???ï¼?äº?季度ç»?æµ?å°?è¿??¥ä??ºæ?°é?¶æ?ï¼??ºå?°é??ç£?å¢????¿ç???æ¦?????????ä½????¨ä¸¤å¤§å¾ª???ºç?°æ?¹æ??????ä¹???ï¼??ºæ???¢é?计é?¾ä»¥?ºç?°å¤§??é¢???å·???¶ä¸­ï¼?6??份ä???å¹´æ?¶å?ä¹???ï¼???许ä???次ç???°æ?¿å?°äº§??????å·¥ä?å¢????¼ç??²é?????°è±¡????ä»??»å¹´åº??¤æ???æµ?ä¿??没æ????¿µï¼?ä½???????å¤???ä»??¾å?±æ???æ¶?è´¹è??????èµ?驱å?¨ç?¹å??³å?äº???èµ???æ±?ä¸?强ï??ºå???¸´???ºæ???¢é??©è???????

????ä¸?è¿?ï¼?å½????ºå??¸å?主线?¨ä??ºæ??è¡?为ï???大è??¾è´·ï¼?å°?è¡?ä¹°å?ºâ?????¼å?è¿??¨æ??ç»????ä»????å·²ç?å¤?次æ?¢è?è¿????????¨æ?ºä??ºå?¶ï?

????é¦???ï¼?ä»?å¹´æ?¿ç???????????????è¦?æ±?ä¹?ä¸?ï¼?ä¸?季度贷æ???æ¯?å¤?å¢?2.3ä¸?亿ã??ä½?ä¿¡è´·é«?å¢??????´å???¤§è¡?以价?¢é????»½é¢?ï¼?????å®?ä½?+è§?模æ??åº?ç­?ï¼?ï¼?ä¾?å¦??¨å??å¤??½ä????¿æ??è´·æ??©ç?????³è¾¾?°ä?2ï¼?以ä????¡ä»½?¶é?¶è?è¢?¿«???¥â???·â????å±?? ¬?????þ???¹é???ä¸???¶è???º«?½å??è¾?å¼±ï?????项ç???¨å?ä¹?ä¸?足ï???æ­¤å?¨è´·æ¬¾â??ä»·æ?¼æ????ä¸??äº?ä¸?é£?ï¼?è¿?å°±å??´ä?大é?¾æ?¡å?ºç?°ï?

?????¾æ?¡ä?ï¼?è´·æ??©ç????ä½?ï¼??ºå?¸è??èµ??§ä»·æ¯?ä¸???ä¿¡è´·ï¼?导è?´ä?ä¸?ä¿¡ç?¨å?ºå??ä¾?ç»???å°?????¤®è¡??°æ???3???°å???¾ä?ä¸?è´·æ??????©ç??ä¸?.96ï¼?ï¼?????????ä¸?¥¨??è¡??©ç??ä¸?ï¼?ï¼?äº???????ä»??¨æ??ç»??è¿?导è?´å¤§???ºå?¸è??èµ???æ±?è½???ä¿¡è´·ï¼?ä»?社è???°æ????ï¼?ä»?å¹´ä?季度??????ä¼?ä¸??ºå?¸è??èµ?è§?模å??计约8500亿ï???æ¯?å°?å¢?è¿?5000亿ï???ä¼?ä¸?ä¸??¿æ??è´·æ?ç»´æ????æ¯?å¤?å¢???

????

?????¾æ?¡ä?ï¼?ä¸???¶è??¾è´·?°é?¾ï?ä½?????å¸??ºé?¨ä?绩å????ä¸?????å¢?ï¼?ä¸?å°?ä¸???¶è???大ä??ºå?¸æ??èµ???åºþ:?????ä»?å¹??????ä¸???¶è??ºå?¸æ??èµ???æ¯?å¢???è¶?è¿?20ï¼?ï¼?????大è?å¢???ä»?ä¸?3.5ï¼?ï¼?ä¸?å°?ä¸??è¡?è¿???è¿?å§?å¤??¹å???èµ?ä¿¡ç?¨å?ºã??

????

?????¾æ?¡ä?ï¼?ä¿¡è´·å¢??¿ç?????¶ï?ä¼?ä¸?å®?????èµ???æ±?并ä?强ï???æ­¤å??¨é?¨å??èµ???è·???æ»´æ?ï¼?è¿??¥ç??è´ ¬??å­?款ç????µï???ä¸???¶è?ä¹???大ä???ä½??????ºå?ºç???ç½???åºþ

??????æ­¤ï?å°½ç?ä¼?ç»??»è?ä¸?ï¼?社è??ä¿¡è´·å¢???好转?©ç©º?ºå?ï¼?ä½????????»è??´é??è¦?ï¼???¿¡è´·ä?ç»?主å?ï¼???å¢?ä»·è?ï¼?è¿?????èµ???æ±?主å?ï¼???ä»·é???ï¼???ä¸?季度信贷??å¢??????¶å?©ç??大å?ä¸?è¡?ï¼?????å¸þ=?¥ä¸­å°??¶è???ç½???æ±???ä¿¡ç?¨å?ºä?æ±???失衡ï¼?ä¿¡è´·ä¸??ºå?èµ°å?¿å?ºç?°é?¶æ??§è??离ã??

?????¨ä¸­å°??¶è???èµ?产è??????????ä¸?ï¼??ºå?å¿?????¹³??æ´¼å?°â??ï¼?ç»?对å?©ç????ä¿¡ç?¨å?©å·®???????©å·®?½å?¨å¿«????缩ï?????ä¸?ä¹??¶è?å§?å¤???èº?½±??é¦???ä»??©å·®??ï¼?以ä?å¹´æ???????ºä¸ºä¾?ï¼?????é«?ç­?级ç??????©å·®å·²ç?ä½?äº?2015年以??0ï¼???ä½?以ä???ä¸???AA?©å·®å°?å¹?ä¸?è¡?1BPï¼???AA+??AA??AA-??ä¸?è¡?4BPï¼?主æ?????å¦??????°å?ºç??ä¸??ç­?级å?©å·®å·²ç???0BPå·þ@?³ã???¶æ?ä»?äº?级å??ä¹°å?¥ç??ï¼??ºé????¿¡?¨å?ºå???主å??ï¼?è¿?两å?¨å???¨å??ä¹°å?¥è?模è?è¿?400亿ï?为年??以æ?¥æ??é«?æ°´å¹³??è¿??¶ä¸­ä¹?ä¸?ä¹??¶è?å§?å¤?èº?½±ï¼??¶è?å°¤å?¶ä¸­å°?è¡?å§?å¤???èµ??³å?????大è?æ±?ï¼?ä¸?????ç¨?ï¼?äº?????¿å???¼æ³¢???å¦???ä½???????·ï?ï¼?ä¸?????çºþA?????¨è????°è??½å?°ä???å§?å¤?è´§å?ºç?è¿???»¥????5ï¼?计æ??????????©å·®ä¹?ä¸???èµ??¾åº¦??大ï??¶è???è¿?å§?å¤?è½??ä¸?绩å??????

????

?????¼å?注æ????????¨è´·æ¬¾å???ºå?¸å?©ç??ä¸?è¡??????¶ï??¶è?å­?款å?©ç??ä¸???并ä????¾ç???³å??¨ä???????¤®è¡??°æ???3??份æ?°å???¾ç??ä¼?ä¸?è´·æ?????å¹³å???©ç??ä¸?.96ï¼?ï¼?æ¯?ä¸?å¹´å????ä½?0.29ä¸??¾å???¹ï????°å????å®???å­?款å????å¹³å???©ç????.28ï¼?ï¼????»å¹´4???¸æ?ä¸???äº?0.16ä¸??¾å???¹ã???´ä?ä¸?ï¼??¶è?èµ?产ç???å¹?è¶?è¿?è´??ºç???è¿?ä¸?å¾??????ä¹?????´ç??ï¼?ä»?å¹´æ?¥è??????ä¸?å°?ä¸???¶è????³ä?è°?äº?å­?款å?©ç??????ä¹???以å?ºç?°è??·ç?????µï?ç¬??ï¼?è¿??»ç¥¨???è¯???å­?款ç?è¢????ï¼?导è?´ç¨³å®?è´??ºæ?¥æ???å°?ï¼?ç¬??ï¼??°æ?¹å?????ä¸?GDP?????¸ï?å­?款è?模æ???¶ä¸»è¦??????¨å??ï¼?ç¬?????季度贷æ?å¢??¿è?å¤?ï¼??¶è?æµ??¨æ?§æ??????ç´§ï???ä¸?å­?款å??è´¨æ?§å¼ºï¼???å¾??°å?ä¸????§å?款ä?夺ã??æ­¤å?ï¼?????å±?æ°???ä¼?ä¸?å­?款å??????¹å????¾ï?ä¹???é«?äº?å­?款ç??综å????????

????

?????¶è????³ä¸ª??¤§è¡???????·®???½é?½å·²ç»?è·??³è???¸æ??????è­þ=??线â????äº?å®?ä¸?ï¼?è¿?两年?¨â??????让å?©å?ä½?????导å??ä¹?ä¸?ï¼??¶è?????·®??º«å°±å?¨é??å¹´æ?¶ç?ï¼????2022å¹´å?ï¼??¶è??»ä?????·®ä¸?.9ï¼?ï¼?è¾?2019å¹´å?ä¸???äº?30BP????ç±»å????ï¼?大è????¡ä»½è¡???????è¡???????è¡?????¸º1.9ï¼???1.99ï¼???1.67ï¼???2.1ï¼???äº?å®?ä¸?ï¼?ä»?å¹´ä?季度??è¡???·®æ°´å¹³å¿???ä¸????????¹æ??????©ç??????ºå?¶å??å¸????????¼å???è¯?ä¼°å??½å??æ³?ï¼?2023年修订ç??ï¼???ï¼???管å??¶è?????·®?????¸æ??????.8ï¼???ä¸?季度?¶è??????·â??ä¹?ä¸?ï¼?????·®å¤§æ???继续?¶ç?ï¼?è¿????³ç???¨å???¶è????½å?¨è??????¸ä¸­?£å??ï¼???ç»???·®ç»§ç»­??缩ç??空é?´å·²ç»???常æ??????

????

????è¿?ç§????µä?å¦?ä½??´å????³é???å±??????½ç????ç§???å½??

????ç¬??ï¼???管主?¨å?导æ??强å?¶é??ä½?è´??ºæ????»´?¤é?¶è?????·®ï¼????ºå?è¡???????延续??

????4????ä¸?å°?ä¸??è¡?ä¸?è°?äº?å­?款å?©ç??ï¼?ä¸??¨å¤®è¡??¨å??å¸?ä¼?ä¸???åº?表示ï¼???è¿???主è????次没??è°??´ç??ä¸???¶è?è¡¥å??ä¸?è°?ï¼?ä¹???ä¸?äº??¶è????¨æ?¥è??????å­?款å?©ç??ä¸?è°???????è°???????????ä¸?è°??´å?????ºå??è¡?为主导ï????´ä?ä¸?大ã?????³ä???ç»??款å?©ç??è¶??¿ï?å¤?????ºè???继续深å???©ç??å¸??ºå???¹é?©ï???ç»????¥å¥½å­?款å?©ç??å¸??ºå??è°??´æ?ºå?¶ç????è¦?ä½????ç»´æ?¤å¥½å¸??ºç?äº?秩å?????

????å­?款ç?äº????¥æ??????å¾??°å???ï¼?è°?????ä½?å°±æ???³ç????æµ?失å?款ï?对任ä½??¶è??¥è??½é?¾ä»¥?¥å??????æ­¤é??å­?款å?©ç???´å???è¦???管æ?¨å???ä»?æ¦???ä¸???ï¼?

????ï¼?1ï¼???è¿?????ºå?¶å?导ç???»å????å°???????ºå?¶å??¶è?å­?款å?©ç????导æ?????§ç??ï¼?ä½?ä¼?å½±å???¶è????¼å???è¯?ä¼°æ??????ä»?å¹????©ç??????ºå?¶å??å¸?äº??????¼å???è¯?ä¼°å??½å??æ³?ï¼?2023 年修订ç??ï¼???ï¼??¶ä¸­?°å?äº???å­?款å?©ç??å¸??ºå??å®?ä»·æ???µï??£å??项ï???ï¼?ä¸?????????????????°ç????ä¸???¶è?å­?款å?©ç??ä»???é«?ï¼???ç»??¨è????ºå?¶çº¦??ä¸?ï¼??´å?ä¸???¶è????½ä?è·?è¿?è°??´ã??æ­¤å?ï¼?å­?款å???°äº§????ç»????§å?款ã??å¼??°å?款ç?管ç??ä¹???????强ã??

????ï¼?2ï¼?MLF/OMO??????è¦??ºæ?????为触????ï¼??¨ç?°æ??æ¡??¶ä??????对ç??????MLF?????·æ??æ¯?è¾?强ç??宽æ?¾æ??ä¹?ï¼???常é??è¦??ºæ?????è¡?ä½?为触????ï¼?????ç»?æµ??´ä?ä»??¨ä¿®å¤?ï¼?è´§å??¿ç?æ·¡å???????¨æ??è°?????ï¼??????è¦??§ç??ä¼¼ä?强ã??æ­¤å?ï¼?å½?????å­?款ç??ä¼???级é?äº???è´·æ?ï¼?å®???è´·æ??©ç??å·²ç?å¾?ä½?ï¼?ï¼?ä½?MLFä¸?è°?????ä¼?导å?°ç????´·æ¬¾ï?LPRï¼?ï¼?????????è¿?LPR????å¹´å?½å?ºä?导å?°å?款ã????æ­¤ç????????ä¼????§é?¶è???·®????ï¼?ä¸?????对é?¶è?è´??ºç??¹å??ä½??¨ä???????

????ï¼?3ï¼?å­?款å?ºå???©ç??ä¸?è°????½æ?§å?å°????»å¹´9????¤§è¡???ä½?ä¸?è°?æ´»æ??å­?款å?©ç??ï¼?ä½?å­?款å?ºå???©ç??????ï¼?表æ??å­?款å?ºå???©ç??å·²ç????ºä½¿?¨ã??æ­¤å?ï¼???ä½?å­?款å???å¼?????ä¸?æ°?äº??©â??????论å??????

????对å?ºå???è¨?ï¼?å¦???å­?款ä?å±??¨ä?è°???为å?¨é???è°?ï¼??¾ç?¶ä??¨é?¢é??ä½??¶è?è´??ºæ?????è¿?????ä½??¶è?对è?产ç????¶ç??è¦?æ±?ï¼?对å?ºå??³å?ä¸?????äº?????ä¸?å­?款å?©ç????ä½?ä¼???è½»å???è´¢ç????æµ?????ï¼????¶ç??è´ ¬??ä¿??©ç?å­?款è?产ç?¸å??ºå?¸è?产ç???§ä»·æ¯???ä½?ï¼??©å¥½?ºå???æ±???对æ??????æ½??¨å½±????æ­£é????ºå??ºä???????ä½???

????ç¬??ï¼?ä½??©ç????ç»?¸¦?¨å?°äº§??å±?æ°???èµ???æ±?好转+ä¿¡è´·é¢?åºþ>??§ï?ä¿¡è´·è¿??¥â????稳价å¾??????¶æ?ï¼?????ä¿¡ç?¨æ?©å???ç»??¨å?¨ç?æµ?好转ï¼?è´§å??¿ç?è½???ï¼??ºå?å°???¸´è°??´å??????

?????ºå?¡å??¿å?ç»?æµ?å¢??¿ç??å½±å??ä¼??¸å?æ»???ï¼?2016å¹´å??ºä??¾è?为ç?æµ?对ä??©ç????宽信?¨å·²ç»?ä¸?????ï¼?ä½?æ»?????????017å¹´å?ºç?°ï??³æ³¨è¿?ä¸?次ä??þB??æ¼???ä»?ä¸?季度?°æ???¥ç??ï¼?å½?????èµ???æ±?æ­£å?äº?ç¼???¿®å¤???è¿?ç¨?ä¸???3?????ä½??·é?¨é?¨è´·æ¬¾ä?é¢?ä¸?7.48ä¸?亿å??ï¼?æ¯?å¹´å??å¢???äº?1.71ä¸?亿å??ï¼???æ¯?å¤?å¢?4490亿å??ï¼?ç»???äº?ä¸?å¹´å?????æ¯?å°?å¢?ï¼??¾ç?¶æ????æ¶?è´¹å??????°äº§??????å¸þ@?¨ã??ä¸?季度贷æ???æ±????°ä?????8.4ï¼?ï¼?è¶?è¿?äº?2021å¹´å????æ°´å¹³??å½??¶ï?å¸??ºæ?´å?³æ³¨?????°äº§ä¿????ç»??§å?ä½?ï¼?以å??è´·æ???æ±?ä¸???å¤?å°????±ä??©ç??å¸þ@?¨ç????

????ä¿¡è´·é¢?åºþ??????è¦????°ï????³ä?å¤??对ç?æµ?å¢??¿å??????ç­????¤æ????ä¿¡è´·é¢?åºþ@¹¶ä¸???¤®è¡???ä¸??????ï¼?ä½?对货å¸?ä¾?åº??????³å?ä½??????常æ???ä¸??¨æ??è°??´ç??è¿?ç¨???ä»?å¹´ä?季度贷æ???æ¯?å¤?å¢?2.3ä¸?亿ï???设å??ç»??ä¸??åºþ@???ä¸??»å¹´??å¹³ï??¨å¹´å¢???ä¹??½è¾¾??0.7ï¼?ï¼??±æ??¥ç??ï¼??¨å¹´ç¨³ä¿¡è´·ç??????å·²ç?ä¸?大ã??ä¸?季度å¤??å·²ç?å¤?次æ??导大è¡??§å?¶è´·æ¬¾æ???¾è??å¥?ï¼?è¿???ä¹??¨å?ä¸??ºå??ä¼???äº?ä¿?è¯?ä¿¡è´·??稳å??§â????????ç»??§â???????¾ï???»¥???ºç??????è´·æ????¾é??åºþ=????ºå¤®è¡?????æ°´å¹³??ï¼?é¢?计ä?季度é¢?åºþ@??¾ç»§ç»????ï¼?ä¿¡è´·??å¥???è¦???åºþ@¹³æ»?????ä¸??þ@?æ°??¨é?¨è??èµ???ç»??¹å??ï¼?ä¿¡è´·å°?è¿??¥ä¸»?¨å??¿ï??¨â??è´§å?社è??ä¸???ä¹?å¢????¹é??????è¦?æ±?ä¹?ä¸?ï¼?ä¸????¤å¤®è¡?ä¼?å°?å¹??¶ç´§é¢?åºþ:??

????

????ä¸??þ??è¿°æ???µå?ºç?°ï?ä¿¡è´·ä¾?æ±?ç»???å°??ºç?°é??è½??è´·æ?è¿??¥â????稳价å¾???????ç¬???¶æ?ï¼??ºå?å°???¸´ä¸?å®?è°??´å??????ä½??¨é????????å®?ä½???大è?????ï¼?é¢?åºþ>??§å??è´·æ??©ç??ä¸?è¡?å¹?åºþB?½ä??¸å?????ï¼??¤é??ç»?æµ?è¿??¥å?¨é?¢å?????

????ç¬??ï¼?å¼????????²å???è°??´ç??è§þ@???????½å?¨ä???管æ?¿ç?ï¼??ºæ??è¡?为å??¨ä?稳å???ç´???????ä½?ç³»æ?¹é?©è?ç¨?ä¸????顺æ?ºå?¶ã????强å??è°???强å????管ã??????å®?ä½?ç­?导å????ç¡???å¸??ºæ??å¿???并ä????¶è???º«????ä¸?è´??ºå??æ¯?ç­?ç­?ï¼???????å¿?????严ç??管å?è¡?ä¸????????²å?»ï?æ¯?å¦?èµ?管ç?ä¸???管å?ä½?æ·±å??ï¼?信贷空转???ï¼???è´¢æ??èµ?å­?款ç?ä¼?ä¸?ä¼?ç®?ä½?空转???¨æ?è¿?ç¨?ä¸??ä¸???ä¸??¾æ?¡æ?´ç?¸å?³ç??èµ?产å???½é?å½??¶å?²ï?????ç»??ºå???æ½??¨é??©ç?¹ã??

??????ä¸?çª??´ç??è§þ@?????¨ä?æµ·å?ç»?æµ?è¶?é¢???ä¸?è¡?ï¼??????½å??ç»?æµ??????¨å??ä¸?足ï?è´§å??¿ç????½è?è¿????°æ?¾æ?¾ã??3???ºå?£å¤§å¹???é«?ï¼?ä½?å·¥å???产è?½å?©ç?¨ç???½æ????ºé???ï¼????½è????ºå?£é?¨å??ä¸?è½??£å??ç´????³ã??å½???æµ·å?è¡°é??é£??©æ??¨å??大ï?å¤??????½å???½æ??ç´????½å?ºå?£ä?èµ???è¡?ä¸?å¢???ä¸??°é?¶ï?å¦???å¤???ä¸??????±æ???å¼±ï?ç»?æµ???????è¦???ä¼°ï?è´§å??¿ç????½é???°è½¬???¾æ?¾ã??

????沿ç??ä¸?è¿°å????ï¼???ä»???ºå???å¦?ä¸??¤æ???

????ï¼?1ï¼??ºæ???¢ç???±è???¼±ä¿??ä»?ä¸?è½»è?ç»???ï¼?ä½???å¤????¾ä»¥?±æ????æ¶?è´¹è??????èµ?驱å????ºå??ºæ???¢é??©æ?????????¨å?³æ³¨?¿æ²»å±?ä¼?è®?²¾ç¥?ï¼?ä¸???¶è?å§?å¤?ç­???ç½?????ä»??????§ï???ä¸?å­????¶çº¦å¸??ºç©º?´ï??©ç???ºç?????¾ä»¥???±ç?å¹????¡æ?¼å?ï¼?ä¿¡ç?¨ç¥¨????????¹ï?ä¸???è°¨é?²ç??管ç?å¼????????²å??²å?»ã??

????ï¼?2ï¼?ä¿¡è´·å¾???????³å??ºå?è¶??¿ç???³é?????èµ???æ±??½å?þ@?è´¨æ?¢å????¹æ?????大è??¾è´·??å°?è¡?ä¹°å?ºâ?????¼å???许è?å°???ç»??段æ?¶é?´ï?ä½??¶è???·®å·²ç?临è?è­þ=??线ï?ä¿¡è´·é¢?åºþ@??è´??ºç???ä½????ä¸????°æ?¥å½±??å¸??ºè??å¥???æ­¤å?ï¼?2016å¹´ç??½æ??´§å¸??¿ç??¶ç´§å¼????ºå?????ï¼?????è´§å??¿ç?ä»?å¤?äº?ä¿?驾æ?¤è???¶æ?ï¼???ä¸??§å?ºè????¹ã??

????ï¼?3ï¼???ä»?????建è?票æ????æ·±æ??????ä½??????ºå??´ä???ä½??¾åº¦??大ï???ç§?????å¦?????ä¸?æ²???äº?æ°¸å?ºæ???¿ä???ç­?æ¼?ç»???åºþ@?å¿??????å·²ç??¾æ????æ·±æ????空é?´ï?建è?????æµ??¨æ?§è?产æ?????

????ï¼?4ï¼?????ä¿¡ç?¨ä?æ²???äº?æ°¸å?ºæ???¿ä???å·²ç????ºæ????????ä¸?å¾?å·²è??为ä????????©ï?ä½?è¿???å¹´ç??ç»?éª?????©ç??ä½?ä½?ä¸?è¿?åºþ=?¥æ?¤å?å¾?å­??²é??©ï??³æ³¨è¢??¨ä¿¡?¨ä?æ²???è¿?åºþ=??????ä½???30å¹´å?½å?ºæ?¢æ????ç­??¥æ?¤åº¦??????对ä?å­??¨è?????°å?¨ã???????¿å?ºå????è¾?大ç??å¼±å?ºå??ï¼?ä¸?建è?é¥?¸©æ­¢æ¸´??

????ï¼?5ï¼???ä»???¨ç?å¾?ä¸?绩æ????äº?ä¸??¿å?????°ç?é£??©å???°ï?è¿?????份ä???大ç???对è?¡å????°è½¬ä¸ºå??好ï????©ä?æµ??¨æ?§æ??????æ¸?å½¢æ???°ç???±æ????????³æ³¨è°??´å???¿å??è½??¨ä¸­??è½??ºå?å±??ºä???

???????¨æ?¸å??³æ³¨ï¼?ä¸?????å·¥ä?ä¼?ä¸??©æ¶¦??4??PMI??ç¾??½ä?季度GDP???¸å?PCE???¿æ²»å±?ä¼?è®???è·¨æ??交æ????ç¬??ï¼????¨å??å°????ä¸?????å·¥ä?ä¼?ä¸??©æ¶¦???³æ³¨3???½å??ä¼?ä¸??©æ¶¦ä¿?????µã??ç¬??ï¼????¨å????ç¾??½ä?季度GDP???¼å??3???¸å?PCEï¼??³æ³¨æµ·å?ç»?æµ??????????µã??ç¬??ï¼??¨æ?¥å????ä¸?????å®??¹å?¶é??ä¸?PMI??è´¢æ?°å?¶é??ä¸?PMIï¼??³æ³¨4?????åºþ:??ç¬???ï¼????¨å¤§æ¦??????4???¿æ²»å±?ä¼?è®???³æ³¨å¯¹ç¨³å¢??¿æ?¿ç????¨ç½²??

????02������

????

????

????

????03????

????

????

????

????

????04æµ??¨æ?§è?è¸?/P>

????

????

????

????

????

????

????

????

????05?ºå?¸å??è¡?????

????

????

????

????

????é£??©æ??示ï?

????1ï¼??°ç?é£??©è?é¢???ï¼?å¦????°ç??¿æ²»?²ç???级è?é¢???ï¼?ç»?æµ????°æ?°å????ºå??¶ç???????½è?é¢???ä¸?è¡???

????2ï¼??¿ç?????è°??´ï?å¦????¿ç?????è¶?é¢???宽æ?¾ï??ºå??¶ç???????½è?é¢???ä¸?è¡???