[2005]105
... 1... 1... 5... 16... 20... 28... 31... 32... 40... 50... 52... 56... 57... 59... 60... 65... 68... 70... 85... 92... 95
( ) 1
2
/ T T+n 3 T n T 3 3 3
4
288 6 538 99 21 2005 2 3 [2005]5 1 021-28932888 47% 26.5% 26.5% 1965 1963 1953 1973 5
State Street Global Advisor Joseph W. Chow 1950 1939 1992 1962 1963 1965 6
1972 1967 29 2005 4 29 2004 11 7
1 2 3 4 5 6 7 8 9 10 11 12 1 2 8
1 2 3 4 5 3 1 2 3 4 5 6 7 8 9 10 11 12 13 4 1 2 3 9
4 1 2 10
3 11
1 12
1 2 3 2 1 2 3 4 5 3 1 13
2 3 4 5 14
4 1 2 15
55 55 100032 010-6610 6912 1984 1 1 1710.24 46 32 90% 90% 50% QFII 11 2004 3 2004 1300 180 100 16
1 2 3 1 2 3 4 5 4 17
5 1 2 3 4 5 6 6 COSO 1 2 3 4 18
5 6 19
1 288 6 538 99 21 021-28932888 021-28932998 021-28932999 www.htffund.com 2 1 55 010-66106912 021-66107914 95588 www.icbc.com.cn 2 18 188 021-58781234 021-5840 20
95559 www.bankcomm.com 3 500 021-63296188 021-63237051 021-63218972 95528 www.spdb.com.cn 4 585 021-63370888 021-63370777 962888 www.bankofshanghai.com.cn 5 720 021-68562200-3019 021-62569651 962506 www.dfzq.com.cn 6 618 135 21
021-62580818-213 021-62583439 400-8888-666 www.gtja.com 7 98 021-53594566-4125 021-53858549 www.htsec.com 8 68 188 010-65186758 010-65182261 400 8888 108 www.csc108.com 9 35 C 010-66568587 010-66568536 22
010-68016655 www.chinastock.com.cn 10 99 www.xyzq.com.cn (11) 138 1 0431 5096710 www.nesc.cn 12 59 18 19 021-50588876 www.longone.com.cn 13 1 30 0769-2119353 www.dgzq.com.cn 14 26 2611 23
020 87555888 875 www.gf.com.cn 15 179 400-8888-777 www.gyzq.com.cn 16 108 8-12 0571-85783714 www.bigsun.com.cn 17 5047 10 24 25 0755 82492000 www.lhzq.com 18 111 021-65081434 www.962518.com 19 171 24
021 54033888 www.sywg.com.cn 20 7088 41 0755-83199511 www.csco.com.cn 21 180 5 0531-5689690 www.ttstock.com.cn 22 63 12 021-68634818-8631 www.xcsc.com www.eestart.com 23 A 40 45 0755-82943511 www.newone.com.cn 24 25
15 0791-6289771 www.gsstock.com 25 69 0351 8686766 8686708 www.sxzq.net 26 1 0951-6024716 www.nws.com.cn 27 528 15 021 8768800 www.ebscn.com.cn 28 128 0531-82024184 0531-82024147 www.qlzq.com.cn 26
27 23 010-58598888 010-58598824 256 14 021-51150298 021-51150398 989 23 989 23 200031 021-24052000 021-54075507 27
2005 6 20 2005 105 1.00 3 28
( ) 1.00 1.00 ( ) ( ) / 29
1 1.2% 3 =10000 1.2%=120 =10000+3 120=9883 =9883/1.00=9883 1 9883 1000 5000 30
3 2 2 200 10 10 30 200 5,000 20 31
1 2 2 3 3 3 4 2 1 32
2 3 15:00 4 1 1000 5000 2 3 4 500 500 TA 5 2 1 2 T T 2 3 33
T T+7 1 ( M ) M 100 1.5% 100 M 1000 1.0% M 1000 1000 / 2 N N 1 0.5% 1 N 2 0.25% N 2 0 25% 34
2 3 ( ) 1 = = = /T T 1.0160 5 1.5% 50000 1.5 750 =50000 750=49250 49250/1.0160 48474.40 5 48474.40 2 = T = = 1 0.5% T 1.016 35
=10000 1.016=10160 10000 1.016 0.5 50.8 = 10160 50.8 10109.2 1 10109.2 3 T+1 T =/T T+1 T+2 T+1 3 1 2 3 4 5 1 4 36
1 2 3 4 3 20 1 10% 2 1 2 37
10% 3 3 2 20 3 38
( ) 39
40-95% 0-50% 5 40
1 2 41
42
43
44
45
3 46
47
1 2 3 4 5 6 7 8 70% 300 +30% 300 2005 4 8, 1 1 2 3 4 5 48
6 7 8 10 10 3 4 5 1 2 3 4 49
1 2 3 4 5 6 7 8 9 / 1 2 3 50
4 51
1 1 2 2 1 2 3 3 4 52
5 6 7 4 5 0.5% 1 53
2 1 2 3 4 5 6 54
7 3 1 2 3 4 5 0.5% 1 2 3 1 4 2 55
1 6 80% 3 2 7 56
1 2 3 4 5 6 7 8 1 1.5% 1.5 H E 1.5 H E 2 2 0.25% H=E 0.25% H E 57
2 3 8 2 58
1 2 1 1 12 31 3 3 4 5 6 7 1 2 3 2 59
1 2 3 4 5 6 3 1 60
6 45 15 2 3 3 61
90 60 15 2 2 2 1 2 3 4 5 6 62
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 63
30 10 64
1 2 3 4 5 6 7 8 65
9 IT 66
1 2 67
1 2 3 / / 1 2 6 3 4 1 30 2 3 4 1 68
2 3 4 5 6 7 5 15 69
1 1 2 3 4 5 6 7 8 9 2 1 2 3 4 5 70
6 7 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 71
15 16 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 72
16 17 18 19 20 21 22 23 30 24 25 1 1 2 3 73
4 5 6 7 8 9 2 1 2 3 4 5 6 7 8 9 10 74
11 15 12 13 14 15 16 17 18 19 20 21 22 1 1 2 3 4 75
5 6 7 2 1 2 3 4 5 1 2 3 4 10% 10% 10% 10% 76
5 4 10% 10% 30 6 1 30 1 2 3 4 5 2 1 1 2 50% 50% 15 77
10 2 1 2 2 3 50% 50% 15 10 4 3 5 1 78
10% 10% 15 10 10 10 1 2 10% 10% 6 2 1 79
50% 50% 2 2 1 50% 50% 2 2 1 1 80
2 3 4 2 5 5 1 2 3 / 81
1 2 6 3 4 82
1 2 3 4 83
5 84
1 288 6 538 99 21 2005 2 3 [2005]5 1 021 28932888 2 55 100032 010 66106912 010 66106904 1984 1 1 1710.24 85
QFII 1 2 86
3 87
88
89
5 6 90
1 2 1 2 3 4 91
92
93
94
1 2 3 4 5 6 2005 7 2 95