2008 1
“ ” 2005 4 25 [2005]68 2005 6 30
2008 6 30 2008 3 31
i
...................................................................................................................................1
...................................................................................................................................1
.......................................................................................................................3
.....................................................................................................................10
.................................................................................................................13
.....................................................................................................................35
.............................................................................................................36
.....................................................................................36
.....................................................................................................................47
.....................................................................................................................57
.................................................................................................................57
.........................................................................................................58
.....................................................................................................61
.....................................................................................................62
.....................................................................................................65
.........................................................................................................65
.....................................................................................................................71
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.........................................................................................84
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.................................................................................................................93
1
“ ” “ ” “ ” “ ” “ ”
/
2
2003 10 28 2004 6 1
2004 6 25 2004 7 1
2004 6 29 2004 7 1
3
/ /
T
T+n T T n n
4
A
33 B 8
1998 4 9
400-818-6666
010-88066511
13800
100%
100%
1
5
2
2004 7 2005 6 30 2008 1 23
3
LOF
4
6
1
2
3
4
5
6
7
8
9
10
11
12
1
2
3
1
2
3
4
5
6
7
8
7
4
1
2
3
4
5
5
1
2
3
1
1 3
2
3
8
2
3
1
9
2
3
4
5
4
5
10
6
1
2
3
1
( )
25
1 1
2004 9 17
[1998]12
010-67595003
“ ”
1954 1996 “ ” 2004 9 ( HK0939) 2005 10 27 2006 9 11 H 2007 9 25 A A 233,689,084,000 224,689,084,000 H 9,000,000,000 A 2007
691.42 49.27% 1.15% 19.50% 0.23
4.50 0.30 0.09 65,981.77
11
21.10% 2.60% 0.69 104.41% 22.17
1.4 2006 8 24 ( )
100 2006 12 29 ( ) “ ( ) ”
2007 1000 14 2000 69 “ 500 ” 35 “ ” “ ” “ ” “ ” “ ” 2007 “ ” “2007 ” 2007 “ ” “ ” “ ”, “ ”
QFII 12 110
2
3
12
2008 3 31 8 ( 3 ) 88 180ETF ETF 58
1
2
3
13
1
“ —— ”
2
1
2
3
4
1
A
33 B 8
400-818-6666
010-88066511
2
14
1
25
1 1
95533
www.ccb.com
2
1
1
95566
010-66594946
www.boc.cn
3
55
55
95588
010-66107914
www.icbc.com.cn
4
23
69
95599
010-85109219
15
www.abchina.com
5
188
188
021-58781234
021-58408842
www.bankcomm.com
95559
6
7088
7088
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0755-83195049 0755-82090817
www.cmbchina.com
7
131
131
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010-66415194
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8
4
4
16
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9
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010-96169
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www.sdb.com.cn
95501
11
500
12
021-61618888
021-63602431
www.spdb.com.cn
17
95528
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010-65541405
010-65541281
http://bank.ecitic.com
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13
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010-85238423
010-85238680
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95577
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www.cebbank.com
15
2222 34 28 A02
2008 1
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0755-82558335
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www.axzq.com.cn
0755-82825555
16
29
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022-28451861
022-28451892
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022-28455588
17
6008 14 16 17
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0755-83516094
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18
8
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19
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400-888-8999 027-85808318
19
13
8
0351-4167056
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www.dtsbc.com.cn
20
510 9
500 26
021-68761616
021-68767981
www.tebon.com.cn
400-888-8128
21
12 B 25
12 B 25
0755-25832494
0755-25831718
www.fcsc.cn
0755-25832686
22
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www.nesc.cn
0431-96688-0
23
318 2 22 -29
756
021-63325888
021-63326173
www.dfzq.com.cn
021-95503 400-888-8506
24
59 18 19
989 17
021-50586660
021-50586660-8880
www.longone.com.cn
0519-8166222 0379-64912266
25
1 30
1 30
21
0769-22119426
0769-22119423
www.dgzq.com.cn
0769-961130 0769-22380828
26
28
26
0512-65581136
0512-65588021
www.dwzq.com.cn
0512-96288 0512-65588066
27
1508
1508
021-68816000
021-68815009
www.ebscn.com
10108998
28
26 2611
183 36 38 41 42
020-87555888
020-87557985
22
www.gf.com.cn
020-87555888-875
29
69
69
020-87322668
020-87325036
www.gzs.com.cn
020-961303
30
46
46
0771-5539262
0771-5539033
www.ghzq.com.cn
400-888-8100 96100
31
168
8 6 7
0510-82831662
0510-82831589
www.glsc.com.cn
400-888-5288 0510-82588168
32
23
15
15 10-13
0791-6285337
0791-6289395
www.gsstock.com
0791-6288690
33
618
168
021-38676666
021-38670666
www.gtja.com
021-962588 400-888-8666
34
1012
1010 9
0755-82130833
0755-82133302
www.guosen.com.cn
800-810-8868
35
179
179
24
0551-2207938
0551-2634400-1171
www.gyzq.com.cn
400-8888-777 96888
36
98
689 10
021-23219000
021-63410456
www.htsec.com
021-962503 400-888-8001
37
96 202-203
178 5
0755-82707853
0755-82707850
www.chinalions.com
38
308
308
0931-4890619
0931-4890118
25
www.hlzqgs.com
0931-8730264
39
90
90
025-84457777-893
025-84579879
www.htsc.com.cn
400-888-8168 025-84579897
40
239
4001 18
028-86126218
0755-83025991
www.hx168.com.cn
400-888-8818
41
36 4
4001 17
0755-83025666
0755-83025625
www.jyzq.cn
400-888-8228
42
26
5047 10 24 25
5047 10 24 25
0755-82492000
0755-82492962
www.lhzq.com
400-888-8555 0755-25125666
43
45
3 9
010-84183389
010-64482090
www.guodu.com
800-810-8809
44
8
8
025-83364032
025-83364032
www.njzq.com.cn
45
0755-82450826
27
0755-82433794
www.pa18.com
400-886-6338
46
128
128
0531-81283728
0531-81283735
www.qlzq.com.cn
0531-82084184
47
69
69
0351-8686766 0351-8686708
0351-8686619
www.i618.com.cn
400-666-1618
48
111
19
021-65081063
021-65217206
www.962518.com
28
021-962518
49
171
171
021-54033888
021-54030294
www.sw2000.com.cn
021-962505
50
7088 40-42
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0755-83199511
0755-83199545
www.csco.com.cn
51
19 B
5 B 4
010-66045522
010-66045500
www.txsec.com www.txjijin.com
010-66045678
52
18 36-37
18 36-37
29
020-37865026
020-37865008
www.wlzq.com.cn
400-888-8133
53
232 16-17
232 16-17
029-87406172
029-87406387
www.westsecu.com.cn
029-87419999
54
2 22-25
2 22-25
023-63786397
023-63786312
www.swsc.com.cn
55
63 12
958 5
021-68634518
021-68865680
30
www.xcsc.com
400-888-1551
56
15
15
010-68084591
010-68084986
www.xsdzq.cn
57
88
88
025-84784765
025-84784830
www.thope.com
58
99
166 22
021-68419974
021-68419867
www.xyzq.com.cn
021-68419393 1098
59
38-45
A 40
31
0755-82943666
0755-82943636
www.newone.com.cn
400-888-8111 95565
60
35 C
35 C
800-820-1868
010-66568536
www.chinastock.com.cn
61
66 4
188
400-8888-108
010-65182261
www.csc108.com
62
11 A
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0571-85783715
0571-85783771
www.96598.com.cn
32
0571-96598
63
29 15 1507-1510
28
0532-85022026
0532-85022026
www.zxwt.com.cn
0532-96577
64
6
6
010-84588266
010-84865560
www.ecitic.com
65
200 39
200 39
021-68604866
021-50372474
www.bocichina.com.cn
66
38
33
15 11
0371-65585670
0371-65585670
www.ccnew.com www.zyzq.cn
0371-967218
67
1
479
0731-2882331
0731-2882331
www.sunsc.com.cn
0731-2889888
68
111
111
0571-87925129
0571-87925129
www.ctsec.com
0571-96336
69
111
111
021-68405273
34
021-68405181
www.cnht.com.cn
0471-4961259
70
291
291
0791-6768763
0791-6789414
www.scstock.com
0791-6770351
71
48-50
48-50
0755-82026521
0755-82026539
www.cjis.cn
400-600-8008
A
33 B 8
35
400-818-6666
010-88066511
19 B
19 B
010-66575888
010-65232181
222 30
8
010-85207788
010-85181218
2005 4 25 [2005]68
1.00
3
2005 5 9 2005 6 10
36
770,195,182.55 11,432
2005 6 30
1
1
33 B 1 100032
010-88087226/27/28
010-88087225
2
11 100081
010-68458998/68458698/68458718
010-68458598
3
39 SOHO B 0104 100022
010-58693528/16/26
010-58693508
4
29 B 100027
010-64185181/82/83
37
010-64185180
5
9 (100190)
010-82523197/98/99
010-82523196
6
100062
010-67146300/400
010-67133146
7
2-4 100097
010-88892832/33/35
010-88892830
8
35 (100089)
010-68460370/0639/0796
010-68460232
9
103 A 100101
010-84871036/37/38/39
010-84871035
10
122 F-36 100102
010-64743055/2505/0335/5375
010-64746885
11
115 200135
021-68547366/7586/7566
021-68547277
12
38
108 (518026)
0755-82033033/88264716/88264710
0755-82031949
13
569 510630
020-38460001/1058/1152
020-38461077
14
www.ChinaAMC.com
2
“ ” “ ”
1
9:30~11:30 1:00~3:00
2005 8 1
1 “ ”
2
39
3 3
1 1,000.00
2 1,000 1,000
3 3
1
2
T T+1 T+2 T T+1
T T+2
3
3
7
1
40
1
2
100 1.5%
100 100 -500 1.2%
500 500 -1000 0.8%
1000 1000 500
3
1 1.8%
1 2 1.5%
2 3 1.2%
3 4 1.0%
4 8 0.5%
8 0
2 0.5% 25%
1
= / 1+
=
= /T
= /T
41
T 1.200 1,000 100 500
1 2 3
A 1,000.001,000,000.005,000,000.00
B 1.5% 1.2% 0.8%
(C=A/ 1 B ) 985.22 988,142.29 4,960,317.46
(D=AC) 14.78 11,857.71 39,682.54
(=C/1.200) 821.02 823,451.91 4,133,597.88
T 1.200 1000
4
A 10,000,000.00
B -
C=A×B 500.00
D=A-C 9,999,500.00
=D/1.200 8,332,916.67
T 1.200 1,000 100 500
1000
1 2 3 4
A 1,000.001,000,000.005,000,000.0010,000,000.00
=A/1.200 833.33833,333.334,166,666.678,333,333.33
2
/ /
×T
×
= -
×T
42
×
× × / 1
= - -
1.00
×T
×
× × / 1
= - -
T 10,000 1.250 / /
=10,000.00×1.250=12,500.00
=12,500.00×0.5%=62.50
=12,500.00-62.50=12,437.50
10,000 1.025 1.080 1.140
1 2 3
A 10,00010,00010,000
B 1.0001.0001.000
C 1.025 1.080 1.140
D=A×C 10,250.0010,800.0011,400.00
E=D×0.5% 51.2554.0057.00
F 1.2%0.9%0.7%
G=A×B×F/ 1+F 118.58 89.20 69.51
=D-E-G 10,080.1710,656.8011,273.49
1.200 10,000
43
1.230 1.300 1.360
1 2 3
A 10,00010,00010,000
B 1.200 1.200 1.200
C 1.230 1.300 1.360
D=A×C 12,300.0013,000.0013,600.00
E=D×0.5% 61.5065.0068.00
F 1.8%1.5%1.2%
G=A×B×F/ 1+F 212.18 177.34 142.29
=D-E-G 12,026.3212,757.6613,389.71
3 T T+1
1
2
3
4
5
1
2
44
3
4
20
1
+ 10
2
1
2 10%
3
2 20
45
1 1
2 1 1
3 2
1
2
1
2
3
4 T+1
5 1,000 1,000
6 + 10
46
7
3
3
1
2
3
4
3
1 2 50
2 20
47
3
4
1
2
3
1
20% 95%
48
0 80% 1 5%
GDP CPI A A
2
3
i 3 2
ii
iii
i
4 4 1
1
P/B
49
P/E
/
P/E
FY3
/ EBIT
P/C
P/B 4 3 4
ii
a
GDP 1000
b
1
50
3
51
i
ii
iii
iiii
4
1
2
3
52
4
5
6
150
= 150 ×60% ×40%
1
2
53
3
4
5
6
7
8
1 10%
2 10%
3
4 1 5%
5
6
[2005]138 2005 8 20
7 0.5
8 3
9 10
[2006]93 2006 6 1
10 ( )
54
10%
11 10%
12 10%
13 20%
14 BBB 3
1 2 8 9 11 13 10 3 7 8 9
3
1
2
2008 4 18
2008 3 31 ,
1
55
20,597,792,338.4168.31%
2,829,394,959.509.38%
--
--
6,626,069,962.5121.97%
100,645,176.200.33%
30,153,902,436.62100.00%
2
A
80,591,331.150.27%
B
3,185,632,129.9110.81%
C
7,687,938,605.3726.08%
C0
1,047,770,230.39 3.55%
C1
-
-
C2
-
-
C3
735,731,204.892.50%
C4
1,256,894,035.89 4.26%
C5
70,983,773.360.24%
C6
2,140,270,010.87 7.26%
C7
1,815,853,639.43 6.16%
C8
539,050,568.10 1.83%
C99
81,385,142.440.28%
D
123,769,052.84 0.42%
E
250,882,968.220.85%
F
359,326,227.091.22%
G
2,298,127,685.027.79%
H
2,017,719,390.576.84%
I
1,895,112,836.746.43%
J
1,913,756,870.746.49%
K
406,959,837.891.38%
L
81,989,423.290.28%
M
295,985,979.581.00%
20,597,792,338.41 69.86%
3
1 000063
23,987,944 1,412,410,142.72 4.79%
2 002024
22,525,233 1,243,167,609.27 4.22%
3 600036
29,836,986 959,855,839.62 3.26%
4 601666
18,405,508 791,068,733.84 2.68%
5 600005
42,375,747 601,311,849.93 2.04%
6 000651
12,572,425 564,376,158.25 1.91%
56
7 601088
11,814,755 472,590,200.00 1.60%
8 000568
7,603,102 471,392,324.00 1.60%
9 000983
11,110,231 456,074,982.55 1.55%
10 000402
15,576,454 358,102,677.46 1.21%
4
1
--
2
300,180,000.00 1.02%
3
2,512,330,000.00 8.52%
4
--
5
16,884,959.50 0.06%
2,829,394,959.50 9.60%
5
1 0816 480,500,000.00 1.63%
2 0784 386,960,000.00 1.31%
3 0813 384,480,000.00 1.30%
4 0723 300,180,000.00 1.02%
5 0830 297,510,000.00 1.01%
6
7
1
2
3
49,438,836.81
28,765,601.02
22,440,738.37
100,645,176.20
4
( )
125960
2,832,972.44 0.01%
5
CWB1 69,678 485,793.29
57
CWB1 180,642 268,937.69
ZXC1 1,208,77712,144,850.62
2005 6 30
2005 12 31
0.50 0.30 3.26 0.77 -2.76 -0.47
2006 1 1
2006 12 31
117.83% 1.26% 51.26% 0.88% 66.57% 0.38%
2007 1 1
2007 12 31
169.42% 1.96% 101.50% 1.61% 67.92% 0.35%
2008 1 1 2008 3 31
-15.41% 1.98% -11.72% 1.91% -3.69% 0.07%
/
2005 2006 2007 2008 1 3
- 0.833 - -
58
1
2
3
4
1
1
2
3 (1) (2) (1) (2)
59
4
2
1
2 ( )
3
4
5
6
7 (1) (6) (1) (6)
8
3
1
2 (1) (1)
3
60
4
5 1 2 3 1 2 3
6
1 0.001
2 0.25% 0.5%
3
4
1
2
3
61
1 (3) (7) (2)
2
1
2
3
4
1
2
3
4
5 4 3 60%
6
7
62
5
1
2
1
1
2
3
4
5
6
2
1
1.5%
H E×1.5%÷
H
E
5
2
63
0.25%
H=E×0.25%÷
H
E
5
3
4 1 3 6
3
1 “ ” “( ) ” “( ) ”
2
1
2
3
I II I →II
II I II II 0
1,000 1,000 1,000 500
1,000 A B 1,000 1,000 A B
64
500
I II I →II
II I 0 A B 5
C
C
C
C
= * 0
C 1000
C =500 - × × 0
C =1000 - × × 0
C
C
= * / +
C
3
65
( )
1 1 1 12 31
2
3
4
5
1
2 5
3
66
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
67
6 45
15
68
1
2
3
4
1
69
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
70
1
2
1
2
3
4
5
6
7
71
1
1
2
3
1
2
3
1
2
3
72
2
3
4
IT
5
1
2
73
1
2
3
1
1
2
2
1
2
3
4
74
5
6
1
3
4
1
2
3
4
1 2 3
5
5
6
15
“
1.
1
2
3
4
75
5
6
7
8
9
10
11
12
2.
1
2
3
4
5
6
7
8
9
10
11
76
12
13
14
15
16
17
18
19
20
21
22
1.
1
2
3
4
5
6
7
2.
1
77
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
1.
78
1
2
3
4
5
6
7
8
9
2.
1
2
3
4
5
1.
1
2
3
4
5
6
7
8
79
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1998 4 9
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2004 9 17
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2008 1 4
2008 1 9
2008 1 10
2008 1 14
2008 1 23
2008 2 22
2008 3 4
2008 3 5
2008 3 12
2008 3 18
2008 3 22
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2008 4 3
2008 4 17
2008 4 24
2008 5 7
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2008 5 16
2008 5 24
2008 5 30
2008 6 11
2008 6 12
2008 6 16
2008 6 17
2008 6 18
2008 6 21
2008 6 30
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2008 7 2
2008 7 15
