{"id":1600,"date":"2021-06-17T10:10:00","date_gmt":"2021-06-17T02:10:00","guid":{"rendered":"https:\/\/blog.roboadvisor.com.tw\/?p=1600"},"modified":"2021-06-17T10:10:00","modified_gmt":"2021-06-17T02:10:00","slug":"%e3%80%8a%e7%81%ab%e7%a5%9e%e7%9a%84%e7%9c%bc%e6%b7%9a%e3%80%8b%e7%9a%84%e6%8a%95%e8%b3%87%e5%95%9f%e7%a4%ba","status":"publish","type":"post","link":"https:\/\/blog.roboadvisor.com.tw\/?p=1600","title":{"rendered":"\u300a\u706b\u795e\u7684\u773c\u6dda\u300b\u7684\u6295\u8cc7\u555f\u793a"},"content":{"rendered":"\n

\u4e0a\u500b\u5468\u672b\u5728\u5bb6\u525b\u8ffd\u5b8c\u524d\u9663\u5b50\u5f88\u7d05\u7684\u53f0\u7063\u6d88\u9632\u8077\u4eba\u5287\u300a\u706b\u795e\u7684\u773c\u6dda\u300b\uff0c\u4e0d\u5f97\u4e0d\u8aaa\u771f\u7684\u5f88\u958b\u5fc3\u770b\u5230\u53f0\u7063\u8fd1\u5e7e\u5e74\u62cd\u51fa\u8a31\u591a\u4ee4\u4eba\u5370\u8c61\u6df1\u523b\u7684\u96fb\u8996\u5287\uff0c\u9019\u90e8\u6232\u6211\u500b\u4eba\u770b\u5b8c\u4e5f\u6709\u8a31\u591a\u7701\u601d\uff0c\u5728\u5de5\u4f5c\u4e0a\u91cd\u65b0\u78ba\u8a8d\u7576\u521d\u9078\u64c7\u9019\u4efd\u5de5\u4f5c\u7684\u521d\u8877\uff0c\u800c\u5728\u6295\u8cc7\u4e0a\u5247\u662f\u66f4\u52a0\u78ba\u8a8d\u4e86\u5c0d\u5e02\u5834\u7684\u5c0a\u656c\u8207\u8cc7\u7522\u914d\u7f6e\u7684\u91cd\u8981\u6027\uff0c\u4e0d\u7ba1\u5728\u5de5\u4f5c\u6216\u662f\u6295\u8cc7\u4e0a\u90fd\u7d66\u4e86\u6211\u91cd\u8981\u7684\u555f\u767c\uff0c\u9019\u4e00\u7bc7\u5247\u662f\u8a18\u9304\u4e86\u300a\u706b\u795e\u7684\u773c\u6dda\u300b\u7d66\u6211\u7684\u6295\u8cc7\u555f\u793a\uff1a<\/p>\n\n\n\n

1. \u8acb\u5c0d\u5e02\u5834\u62b1\u6301\u8b19\u5351\uff0c\u4f60\u6c38\u9060\u4e0d\u6703\u77e5\u9053\u672a\u4f86\u6703\u767c\u751f\u4ec0\u9ebc\u4e8b\u3002<\/strong>\u00a0<\/p>

\u300c\u98a8\u96aa\u5c31\u662f\uff0c\u7576\u4f60\u8a8d\u70ba\u4f60\u5df2\u7d93\u60f3\u5230\u6240\u6709\u4e8b\u60c5\u4e4b\u5f8c\uff0c\u5269\u4e0b\u4f86\u6c92\u60f3\u5230\u7684\u4e8b\uff01\u300d<\/p> \u2014\u8ca1\u7d93\u4f5c\u5bb6\u5361\u723e\uff0e\u7406\u67e5\u8332(Carl Richards)<\/cite><\/blockquote>\n\n\n\n

\u91d1\u878d\u5e02\u5834\u7684\u6ce2\u52d5\u5982\u540c\u706b\u5834\u7684\u767c\u751f\uff0c\u4f60\u6c38\u9060\u4e0d\u6703\u77e5\u9053\u4f55\u6642\u767c\u751f\uff0c\u9019\u6b21\u767c\u751f\u7684\u56b4\u91cd\u7a0b\u5ea6\u5982\u4f55\uff0c\u5982\u540c\u6d88\u9632\u54e1\u9762\u5c0d\u706b\u5834\u4e00\u6a23\u8b39\u614e\uff0c\u6295\u8cc7\u4eba\u9762\u5c0d\u91d1\u878d\u5e02\u5834\u4e5f\u61c9\u8a72\u4fdd\u6301\u8b19\u5351\uff0c\u56e0\u70ba\u4f60\u552f\u4e00\u77e5\u9053\u7684\u662f\u4f60\u6c38\u9060\u4e0d\u77e5\u9053\u672a\u4f86\u5e02\u5834\u6703\u5982\u4f55\u8b8a\u5316\u3002 \u300c\u81ea\u4fe1\u300d\u61c9\u7528\u5728\u5176\u4ed6\u9818\u57df\u53ef\u80fd\u662f\u597d\u4e8b\uff0c\u4f46\u61c9\u7528\u5728\u91d1\u878d\u5e02\u5834\u537b\u53ef\u80fd\u56e0\u6b64\u4ed8\u51fa\u9f90\u5927\u7684\u4ee3\u50f9\uff0c\u5f9e\u904e\u5f80\u7d93\u9a57\u5c31\u80fd\u767c\u73fe\u8a31\u591a\u5c08\u5bb6\u8207\u6295\u8cc7\u4eba\u7e3d\u6703\u6839\u64da\u4e00\u4e9b\u300c\u8de1\u8c61\u300d\u63d0\u51fa\u5c0d\u5e02\u5834\u8d70\u52e2\u7684\u770b\u6cd5\uff0c\u4f46\u5982\u679c\u56de\u53bb\u91cd\u65b0\u6aa2\u8996\uff0c\u4f60\u5c31\u80fd\u767c\u73fe\u9019\u4e9b\u9810\u6e2c\u5927\u591a\u90fd\u662f\u4e0d\u6e96\u78ba\u7684\uff0c\u6839\u64da\u9019\u4e9b\u9810\u6e2c\u4f5c\u70ba\u6295\u8cc7\u8cb7\u8ce3\u7684\u4f9d\u64da\uff0c\u4ee3\u50f9\u5f80\u5f80\u662f\u975e\u5e38\u9f90\u5927\u7684\uff0c\u4ee5\u53bb\u5e74\u767c\u751f\u7684\u8ca0\u6cb9\u50f9\u4e8b\u4ef6<\/a>\u9020\u6210\u8a31\u591a\u6295\u8cc7\u4eba\u6158\u8ce0\u7684\u6545\u4e8b\uff0c\u5c31\u662f\u500b\u5f88\u597d\u7684\u4f8b\u5b50\uff0c\u7576\u5927\u5bb6\u90fd\u300c\u81ea\u4fe1\u300d\u8a8d\u70ba\u6cb9\u50f9\u4e0d\u53ef\u80fd\u8b8a\u6210\u8ca0\u503c\uff0c\u904e\u5f80\u78ba\u5be6\u4e5f\u4e0d\u66fe\u767c\u751f\u904e\u985e\u4f3c\u7684\u4e8b\u4ef6\uff0c\u6240\u4ee5\u5728\u6cb9\u50f9\u63a5\u8fd1\u96f6\u6642\uff0c\u8a31\u591a\u6295\u8cc7\u4eba\u8702\u64c1\u8cb7\u5165\uff0c\u8a8d\u70ba\u6cb9\u50f9\u63a5\u4e0b\u4f86\u4e00\u5b9a\u6703\u4e0a\u6f32\u53cd\u5f48\uff0c\u5f8c\u7e8c\u7684\u6545\u4e8b\u5927\u5bb6\u61c9\u8a72\u90fd\u77e5\u9053\u4e86\u3002<\/p>\n\n\n\n

\"\"
\u65b0\u805e\u4f86\u6e90\uff1a\u5929\u4e0b\u96dc\u8a8c\u3002<\/figcaption><\/figure>\n\n\n\n

\u4fdd\u6301\u8b19\u5351\uff0c\u627f\u8a8d\u81ea\u5df1\u7121\u6cd5\u9810\u6e2c\u5e02\u5834\uff0c\u505a\u4efb\u4f55\u6295\u8cc7\u6c7a\u7b56\u5c31\u6703\u5f9e\u98a8\u96aa\u89d2\u5ea6\u8003\u91cf\uff0c\u800c\u9019\u6a23\u7684\u6c7a\u7b56\u5f80\u5f80\u66f4\u5bb9\u6613\u5354\u52a9\u6295\u8cc7\u4eba\u56e0\u61c9\u8b8a\u5316\u7121\u5e38\u7684\u91d1\u878d\u5e02\u5834\u3002<\/strong><\/p>\n\n\n\n

2. \u5371\u6025\u6642\u523b\uff0c\u4e0d\u80fd\u8b93\u60c5\u7dd2\u63a7\u5236\u7406\u6027\u3002<\/strong><\/p>

\u300c<\/strong>\u932f\u8aa4\u7684\u4ee3\u50f9\u5f88\u9ad8\uff0c\u5c24\u5176\u5728\u6295\u8cc7\u9818\u57df\uff0c\u72af\u932f\u901a\u5e38\u4e0d\u50c5\u4ee3\u50f9\u5f88\u9ad8\uff0c\u9084\u6703\u7559\u4e0b\u6c38\u4e45\u7684\u5f71\u97ff\u3002\u300d<\/p>

\u2014\u300a\u6307\u6578\u9769\u547d\u300b\u67e5\u723e\u65af\uff0e\u827e\u5229\u65af(Charles D. Ellis)<\/p><\/blockquote>\n\n\n\n

\u5287\u60c5\u4e2d\u6709\u4e00\u500b\u9019\u6a23\u7684\u6545\u4e8b\uff0c\u6709\u4e00\u4f4d\u975e\u5e38\u512a\u79c0\u7684\u6d88\u9632\u54e1\uff0c\u5177\u6709\u8c50\u5bcc\u7684\u706b\u5834\u7d93\u9a57\u548c\u6d88\u9632\u6280\u80fd\uff0c\u904e\u5f80\u5728\u706b\u5834\u6d88\u9632\u53ca\u6551\u4eba\u8868\u73fe\u4e0a\u90fd\u4e0d\u66fe\u6709\u91cd\u5927\u7f3a\u5931\uff0c\u662f\u540d\u975e\u5e38\u7a31\u8077\u7684\u6d88\u9632\u54e1\uff1b\u4f46\u5c31\u5728\u4e00\u6b21\u6551\u4eba\u7684\u904e\u7a0b\u4e2d\u56e0\u70ba\u6c92\u9806\u5229\u6551\u5230\u60f3\u81ea\u6bba\u7684\u6c11\u773e\uff0c\u8b93\u9019\u4f4d\u6d88\u9632\u54e1\u81f3\u6b64\u7559\u4e0b\u5275\u50b7\u5f8c\u58d3\u529b\u75c7\u5019\u7fa4(PSTD)\u7684\u5fc3\u7406\u72c0\u614b\uff0c\u5f8c\u4f86\u5728\u4e00\u5834\u5a1b\u6a02\u5834\u6240\u5931\u706b\u7684\u6232\u78bc\u88e1\uff0c\u9019\u4f4d\u904e\u5f80\u512a\u79c0\u7684\u6d88\u9632\u54e1\u7576\u7136\u4e5f\u6df1\u5165\u706b\u5834\uff0c\u4f46\u56e0\u70ba\u5fc3\u88e1\u7684\u5275\u50b7\u8b93\u4ed6\u5728\u9019\u6b21\u706b\u5834\u5371\u6025\u6642\u523b\u966a\u4f34\u4ed6\u7684\u4e0d\u662f\u719f\u6089\u7684\u7406\u6027\uff0c\u800c\u662f\u6050\u614c\u8207\u5bb3\u6015\u7684\u60c5\u7dd2\uff0c\u9019\u6b21\u95dc\u9375\u6642\u523b\u4ed6\u51fa\u932f\u4e86\uff0c\u610f\u5916\u964d\u81e8\u5728\u4ed6\u8eab\u4e0a\u3002 \u9019\u500b\u6232\u78bc\u7d66\u4e86\u6211\u5169\u500b\u5728\u6295\u8cc7\u4e0a\u6df1\u523b\u7684\u9ad4\u609f\uff0c\u7b2c\u4e00\u662f\u638c\u63a7\u597d\u7684\u81ea\u5df1\u7684\u60c5\u7dd2\u5728\u6295\u8cc7\u4e0a\u771f\u7684\u975e\u5e38\u91cd\u8981\u3002\u5118\u7ba1\u662f\u904e\u5f80\u7d93\u9a57\u8c50\u5bcc\u7684\u6295\u8cc7\u4eba\uff0c\u96a8\u8457\u751f\u7406\u8207\u5fc3\u7406\u5728\u5404\u751f\u547d\u968e\u6bb5\u7684\u4e0d\u540c\uff0c\u5728\u9762\u5c0d\u672a\u4f86\u4e0d\u53ef\u6e2c\u7684\u72c0\u6cc1\u4e0b\uff0c\u4ecd\u7136\u53ef\u80fd\u932f\u4f30\u81ea\u5df1\u63a7\u5236\u60c5\u7dd2\u7684\u80fd\u529b\uff0c\u95dc\u9375\u6642\u523b\u5982\u679c\u4e0d\u80fd\u4fdd\u6301\u51b7\u975c\uff0c\u4ee3\u50f9\u5c07\u6703\u975e\u5e38\u9ad8\u6602<\/strong>\uff1b \u7b2c\u4e8c\u662f\u6211\u7279\u5225\u60f3\u8868\u9054\u7684\uff0c\u5c0d\u65bc\u8a31\u591a\u66fe\u5728\u91d1\u878d\u6d77\u562f\u53d7\u904e\u50b7\u7684\u6295\u8cc7\u4eba\u6211\u5011\u61c9\u8a72\u591a\u9ede\u95dc\u61f7\u8207\u8010\u5fc3\uff0c\u5982\u540c\u5287\u4e2d\u6d88\u9632\u54e1\u4e00\u6a23\uff0c\u4ed6\u81ea\u5df1\u4e5f\u4e0d\u9858\u610f\u9019\u6a23\uff0c\u4ed6\u4e5f\u6975\u529b\u60f3\u514b\u670d\uff0c\u4f46\u5fc3\u7406\u72c0\u6cc1\u4e26\u4e0d\u662f\u8aaa\u8abf\u6574\u5c31\u80fd\u99ac\u4e0a\u8abf\u6574(\u5c31\u50cf\u751f\u75c5\u4e5f\u4e0d\u662f\u80fd\u99ac\u4e0a\u5fa9\u539f)\uff0c\u6bcf\u500b\u4eba\u5c0d\u65bc\u8cc7\u7522\u6e1b\u640d\u7684\u627f\u53d7\u5ea6\u4e0d\u540c\uff0c\u5b78\u8853\u4e0a\u300c\u5c55\u671b\u7406\u8ad6\u300d\u4e5f\u544a\u8a34\u6211\u5011\u8ce0\u9322\u5c0d\u65bc\u6c11\u773e\u800c\u8a00\u662f\u975e\u5e38\u96e3\u53d7\u7684\u4e00\u4ef6\u4e8b(\u8667\u640d100\u584a\u7684\u75db\u82e6\uff0c\u9700\u8981\u8cfa\u56de200\u584a\u7684\u5feb\u6a02\u624d\u80fd\u5f4c\u88dc)\uff0c\u5be6\u969b\u53d7\u50b7\u7684\u4eba\uff0c\u624d\u80fd\u77e5\u9053\u81ea\u5df1\u5c0d\u65bc\u8cc7\u7522\u6e1b\u640d\u6709\u591a\u5bb3\u6015\uff0c\u9019\u662f\u9700\u8981\u514b\u670d\u5fc3\u7406\u7684\u554f\u984c\u3002<\/p>\n\n\n\n

\"\"
\u5c55\u671b\u7406\u8ad6\u5716\u793a\u8aaa\u660e\u3002\u8cc7\u6599\u4f86\u6e90\uff1aEconomics help\u3002<\/figcaption><\/figure>\n\n\n\n

\u800c\u5f9eInvestment Company Institute\u7684\u5831\u544a\u4e5f\u53ef\u4ee5\u770b\u51fa\uff0c\u57282008\u5e74\u91d1\u878d\u6d77\u562f\u904e\u5f8c\u6709\u8a31\u591a\u4eba\u53d7\u5230\u6253\u64ca\u800c\u628a\u8cc7\u91d1\u642c\u96e2\u5e02\u5834\uff0c\u723e\u5f8c\u96d6\u7136\u6709\u4e00\u4e9b\u8cc7\u91d1\u56de\u6d41\uff0c\u4f46\u53ea\u8981\u5e02\u5834\u53c8\u51fa\u73fe\u4efb\u4f55\u4e00\u4e01\u9ede\u98a8\u5439\u8349\u52d5\uff0c\u8cc7\u91d1\u99ac\u4e0a\u53c8\u64a4\u51fa\u5e02\u5834\uff0c\u6211\u60f3\u9019\u53ef\u80fd\u82072008\u5e74\u90a3\u5834\u91d1\u878d\u6d77\u562f\u5e36\u7d66\u9019\u7fa4\u6295\u8cc7\u4eba\u7684\u6253\u64ca\u592a\u5927\u6709\u4e9b\u95dc\u806f\uff0c\u8a31\u591a\u6295\u8cc7\u4e0a\u7684\u56f0\u96e3\u5176\u5be6\u4e26\u4e0d\u662f\u6295\u8cc7\u77e5\u8b58\u8207\u6280\u80fd\u7684\u554f\u984c\uff0c\u800c\u662f\u5fc3\u7406\u56e0\u7d20\u7684\u554f\u984c\uff0c\u9762\u5c0d\u9019\u4e9b\u6295\u8cc7\u4eba\uff0c\u6211\u5011\u53ef\u4ee5\u7d66\u4e88\u7684\u662f\u966a\u4f34\u548c\u8010\u5fc3\u7684\u8aaa\u660e\uff0c\u800c\u4e0d\u662f\u5632\u7b11\u8207\u62a8\u64ca\u3002<\/p>\n\n\n\n

\"\"
\u7d2b\u8272\u7dda\u4ee3\u8868\u6574\u9ad4\u5e02\u5834\u8868\u73fe\u72c0\u6cc1\uff0c\u7da0\u8272\u7e23\u4ee3\u8868\u5168\u7403\u8cc7\u91d1\u6d41\u5165\u5e02\u5834\u72c0\u6cc1\u30022008\u5e74\u91d1\u878d\u6d77\u562f\u904e\u5f8c\u8cc7\u91d1\u5927\u8209\u64a4\u51fa\u5e02\u5834\uff0c\u5f8c\u7e8c\u5118\u7ba1\u6709\u4e00\u4e9b\u8cc7\u91d1\u56de\u6d41\uff0c\u4f46\u5e02\u5834\u4efb\u4f55\u7684\u98a8\u5439\u8349\u52d5\uff0c\u8cc7\u91d1\u53c8\u6703\u64a4\u51fa\u5e02\u5834\u3002\u8cc7\u6599\u4f86\u6e90:\uff1aInvestment Company Institute, MSCl, and Bloomberg<\/figcaption><\/figure>\n\n\n\n

3. \u8cc7\u7522\u914d\u7f6e\u7684\u91cd\u8981\u6027\uff1a\u6ec5\u706b\u5668\u662f\u6a19\u6e96\u914d\u5099\uff0c\u4e26\u4e0d\u662f\u9078\u914d\u3002<\/strong><\/p>

\u300c\u5f71\u97ff\u6295\u8cc7\u4eba\u7684\u6295\u8cc7\u7d44\u5408\u5831\u916c \uff0c\u9ad8\u9054 91% \u7684\u95dc\u9375\u8207\u8cc7\u7522\u914d\u7f6e\u6c7a\u7b56\u6709\u95dc\u300d<\/p>

\u2014\u91d1\u878d\u5206\u6790\u5e2b\u96dc\u8a8c The Financial Analysts Journal \uff0c1986\u3002<\/p><\/blockquote>\n\n\n\n

\u50b5\u5238\u5728\u6295\u8cc7\u7d44\u5408\u626e\u6f14\u7684\u89d2\u8272\u7684\u5c31\u50cf\u6ec5\u706b\u5668\u4e00\u6a23\uff0c\u4f60\u4e0d\u6703\u5728\u706b\u707d\u767c\u751f\u6642\u624d\u6301\u6709\u6ec5\u706b\u5668\uff0c\u901a\u5e38\u5728\u706b\u707d\u767c\u751f\u524d\u4f60\u5c31\u6703\u5148\u6e96\u5099\u597d\uff0c\u4ee5\u9632\u4e0d\u6642\u4e4b\u9700\u3002 \u9019\u500b\u9053\u7406\u5176\u5be6\u5c31\u8ddf\u6301\u6709\u50b5\u5238\u7684\u9053\u7406\u4e00\u6a23\uff0c\u6301\u6709\u50b5\u5238\u7684\u6295\u8cc7\u7d44\u5408\u53ef\u4ee5\u5927\u5e45\u964d\u4f4e\u6295\u8cc7\u7d44\u5408\u7684\u6ce2\u52d5\u6027\uff0c\u800c\u6ce2\u52d5\u5ea6\u5f80\u5f80\u662f\u5f71\u97ff\u6295\u8cc7\u4eba\u80fd\u4e0d\u80fd\u9577\u671f\u6295\u8cc7\u7684\u95dc\u9375\u56e0\u7d20\uff1b\u57282008\u5e74\u91d1\u878d\u6d77\u562f\u53ca2020\u5e743\u6708Covid-19\u5f71\u97ff\u4e0b\uff0c\u4e16\u754c\u6574\u9ad4\u80a1\u5e02\u8dcc\u5e45\u4f86\u5230-56.09%\u53ca-34.35%\uff0c\u4f60\u6709\u8fa6\u6cd5\u5fcd\u53d7\u5e33\u9762\u4e0a\u9019\u6a23\u7684\u8667\u640d\u55ce\uff1f \u5982\u679c\u6c92\u8fa6\u6cd5\u5fcd\u53d7\u9019\u6a23\u7684\u8667\u640d\uff0c\u66f4\u4e0d\u7528\u8aaa\u8981\u505a\u5230\u9577\u671f\u6295\u8cc7\u4e86\uff01\u7576\u9ed1\u5929\u9d5d\u4e8b\u4ef6\u4f86\u81e8\uff0c\u6709\u6c92\u6709\u65b9\u6cd5\u53ef\u4ee5\u6e1b\u5c11\u8cc7\u7522\u8667\u640d\u7684\u5e45\u5ea6\u5462\uff1f \u7b54\u6848\u662f\u6709\u7684\uff0c\u505a\u597d\u8cc7\u7522\u914d\u7f6e\uff01<\/p>\n\n\n\n

\"\"
\u91d1\u878d\u6d77\u562f\u671f\u9593\uff0c\u505a\u597d\u8cc7\u7522\u914d\u7f6e\u7684\u6548\u679c\u3002\u7d71\u8a08\u671f\u95932008\/1\/1-2009\/12\/31\u3002\u8cc7\u6599\u4f86\u6e90\uff1aMorningstar Direct\u3002<\/figcaption><\/figure>\n\n\n\n
\"\"
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\"\"
\u8cc7\u6599\u4f86\u6e90\uff1aWillow Creak\u3002<\/figcaption><\/figure>\n\n\n\n

4. \u6295\u8cc7\u9867\u554f\u7684\u50f9\u503c\uff1a\u544a\u8a34\u5ba2\u6236\u6b63\u78ba\u7684\u6295\u8cc7\u884c\u70ba\uff0c\u5354\u52a9\u5ba2\u6236\u9054\u6210\u8ca1\u52d9\u76ee\u6a19\uff0c\u8b93\u4e16\u754c\u56e0\u70ba\u6211\u5011\u7684\u5b58\u5728\u8b8a\u5f97\u66f4\u52a0\u7f8e\u597d\uff01<\/strong>\u00a0<\/p>

\u300c\u5982\u679c\u4f60\u4eca\u5929\u6551\u4e00\u500b\u4eba\uff0c\u4ed6\u53ef\u80fd\u53ef\u4ee5\u5e6b\u52a9\u4e94\u500b\u4eba\uff0c\u800c\u9019\u4e94\u500b\u4eba\u4e4b\u5f8c\u53ef\u4ee5\u5e6b\u52a9\u66f4\u591a\u4eba\uff0c\u90a3\u9019\u500b\u4e16\u754c\u5c31\u6703\u4e0d\u4e00\u6a23\u4e86\u300d<\/p>

\u2014\u300a\u706b\u795e\u7684\u773c\u6dda\u300b<\/p><\/blockquote>\n\n\n\n

\u6d88\u9632\u54e1\u7684\u89d2\u8272\u60f3\u60f3\u5176\u5be6\u8ddf\u6211\u76ee\u524d\u5728\u5de5\u4f5c\u4e0a\u626e\u6f14\u7684\u89d2\u8272\u5f88\u50cf\uff0c\u6211\u5011\u5728\u610f\u5916\u9084\u6c92\u767c\u751f\u524d\uff0c\u5c31\u8ddf\u6295\u8cc7\u4eba\u5ba3\u5c0e\u6b63\u78ba\u7684\u6295\u8cc7\u89c0\u5ff5\uff0c\u624d\u80fd\u5728\u610f\u5916\u6642\u8b93\u5ba2\u6236\u4e0d\u614c\u5f35\u3001\u4e0d\u5bb3\u6015\uff1b \u5047\u5982\u706b\u707d\u771f\u7684\u71d2\u7684\u731b\u70c8\uff0c\u6700\u597d\u7684\u65b9\u5f0f\u4e0d\u662f\u6063\u610f\u5f80\u5916\u885d\uff0c\u5f88\u5bb9\u6613\u88ab\u6fc3\u7159\u55c6\u6b7b\uff0c\u800c\u662f\u5f85\u5728\u5c1a\u672a\u71c3\u71d2\u7684\u7a7a\u9593\u88e1\uff0c\u5c07\u9580\u95dc\u4e0a\uff0c\u4ec0\u9ebc\u90fd\u4e0d\u505a\uff0c\u7b49\u5728\u6551\u63f4\uff0c\u9019\u662f\u6b63\u78ba\u7684\u706b\u5834\u6551\u547d\u884c\u70ba\u3002 \u610f\u5916\u96e3\u514d\u767c\u751f\uff0c\u4f46\u7e3d\u6703\u6709\u6295\u8cc7\u4eba\u4e8b\u524d\u6c92\u505a\u597d\u6e96\u5099\uff0c\u91d1\u878d\u5371\u6a5f\u767c\u751f\u6642\u624d\u767c\u73fe\u4e0d\u77e5\u6240\u63aa\uff0c\u9019\u6642\u5019\u6211\u5011\u5c31\u8981\u6df1\u5165\u706b\u5834\uff0c\u544a\u8a34\u6295\u8cc7\u4eba\u4fdd\u6301\u51b7\u975c\u3001\u964d\u4f4e\u50b7\u5bb3\uff0c\u706b\u5834\u6642\u6bcf\u4e00\u500b\u4e0d\u7406\u6027\u90fd\u6709\u53ef\u80fd\u9020\u6210\u751f\u547d\u5371\u96aa\uff0c\u91d1\u878d\u6d77\u562f\u6642\u767c\u751f\u6642\u4e5f\u4e00\u6a23\uff0c\u9019\u6642\u5019\u932f\u8aa4\u7684\u6c7a\u7b56\u6700\u5bb9\u6613\u9020\u6210\u8cc7\u7522\u50b7\u5bb3\uff0c\u4fdd\u8b77\u6295\u8cc7\u4eba\u5b89\u5168\u5ea6\u904e\u5371\u6a5f\u662f\u6211\u5011\u7684\u8077\u8cac\u6240\u5728\uff0c \u9019\u6bb5\u843d\u4e00\u958b\u59cb\u7684\u540d\u8a00\u662f\u6211\u5728\u9019\u90e8\u5287\u88e1\u6700\u559c\u6b61\u7684\u53e5\u5b50\uff0c\u6211\u89ba\u5f97\u9019\u4e00\u76f4\u4e5f\u662f\u6211\u5011\u6b63\u5728\u505a\u7684\u4e8b\uff0c\u900f\u904e\u6587\u7ae0\u6216\u5176\u4ed6\u65b9\u5f0f\u6559\u5c0e\u6bcf\u4f4d\u6295\u8cc7\u4eba\u6b63\u78ba\u7684\u6295\u8cc7\u89c0\u5ff5\uff0c\u5728\u8b93\u6295\u8cc7\u4eba\u544a\u8a34\u8eab\u65c1\u7684\u670b\u53cb\u4ec0\u9ebc\u662f\u6b63\u78ba\u7684\u6295\u8cc7\u89c0\u5ff5\uff0c\u525b\u958b\u59cb\u53ef\u80fd\u5f88\u56f0\u96e3\uff0c\u4f46\u53ef\u4ee5\u671f\u5f85\u53ea\u8981\u6211\u5011\u7e7c\u7e8c\u5805\u6301\u548c\u6539\u5584\uff0c\u4e00\u5b9a\u6709\u6a5f\u6703\u53ef\u4ee5\u5354\u52a9\u5230\u66f4\u591a\u4eba\u3001\u8b93\u53f0\u7063\u7684\u8ca1\u5bcc\u7ba1\u7406\u8b8a\u7684\u66f4\u4e0d\u4e00\u6a23\uff01<\/p>\n\n\n\n

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\u5716\u7247\u4f86\u6e90\uff1aYuu illustration\u3002<\/figcaption><\/figure>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

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