{"id":13430,"date":"2023-05-25T20:04:30","date_gmt":"2023-05-25T12:04:30","guid":{"rendered":"https:\/\/readfi.news\/?p=13430"},"modified":"2024-07-15T15:11:36","modified_gmt":"2024-07-15T07:11:36","slug":"%e6%8f%90%e5%8d%87%e8%b3%87%e6%9c%ac%e5%93%81%e8%b3%aa%e4%bb%a5%e5%88%a9%e4%bc%81%e6%a5%ad%e9%95%b7%e9%81%a0%e7%99%bc%e5%b1%95","status":"publish","type":"post","link":"https:\/\/readfi.news\/en\/13430\/","title":{"rendered":"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55"},"content":{"rendered":"

\u6587 \/ \u5f35\u58eb\u5091<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\u58fd\u96aa\u696d\u50b5\u52d9\u7c4c\u8cc7\u6548\u76ca\u5206\u6790<\/h3>\n\n\n\n

\u793e\u6703\u5927\u773e\u5982\u4f55\u89e3\u8b80\u58fd\u96aa\u516c\u53f8\u63d0\u5347\u8cc7\u672c\u9069\u8db3\u7387\u800c\u767c\u884c\u6b21\u9806\u4f4d\u516c\u53f8\u50b5<\/a>(Subordinated Debt)\u5462\uff1f\u6700\u65e9\u5c0e\u56e0\u65bc2008\u5e74\u6240\u767c\u751f\u7684\u91d1\u878d\u6d77\u562f<\/a>(Financial Crisis)\uff0c\u7576\u6642\u4e3b\u7ba1\u6a5f\u95dc\u70ba\u5f37\u5316\u4fdd\u96aa\u516c\u53f8\u8ca1\u52d9\u7d50\u69cb\uff0c\u4f9d\u4fdd\u96aa\u6cd5\u7b2c143\u689d\u8a02\u5b9a\u300c\u4fdd\u96aa\u516c\u53f8\u767c\u884c\u5177\u8cc7\u672c\u6027\u8cea\u50b5\u5238\u61c9\u6ce8\u610f\u4e8b\u9805\u300d\uff0c\u4fdd\u96aa\u516c\u53f8\u53ef\u65bc\u7533\u8acb\u6838\u51c6\u5f8c\u767c\u884c\u5177\u8cc7\u672c\u6027\u8cea\u50b5\u5238\u3002<\/p>\n\n\n\n

\u8cc7\u672c\u4f7f\u7528\u6548\u7387\u5df2\u6210\u70ba\u4eba\u58fd\u4fdd\u96aa\u516c\u53f8\u6c38\u7e8c\u7d93\u71df\u53ca\u5e02\u5834\u62d3\u5c55\u4e4b\u9996\u8981\u8ab2\u984c\uff0c\u56e0\u61c9\u6301\u7e8c\u589e\u52a0\u7684\u65b0\u5951\u7d04\u696d\u52d9\u8207\u570b\u969b\u6295\u8cc7\u7684\u4f48\u5c40\uff0c\u5982\u4f55\u6709\u6548\u904b\u7528\u8cc7\u672c\u5e02\u5834\u7684\u80a1\u6b0a\u878d\u8cc7<\/a>(Equity Financing)\u8207\u50b5\u52d9\u878d\u8cc7<\/a>(Debt Financing)\u53d6\u5f97\u71df\u904b\u6240\u9700\u8cc7\u672c\uff0c\u5728\u9762\u5c0d\u5168\u7403\u7d93\u6fdf\u8da8\u7de9\u3001\u5e02\u5834\u6ce2\u52d5\u52a0\u5287\u8207\u56e0\u61c9\u6e05\u511f\u76e3\u7406\u5236\u5ea6\u6642\uff0c\u878d\u8cc7\u7b56\u7565\u5c07\u986f\u8457\u5f71\u97ff\u516c\u53f8\u7d93\u71df\u8868\u73fe\u3002<\/p>\n\n\n\n

\u4eba\u58fd\u4fdd\u96aa\u516c\u53f8\u9078\u64c7\u50b5\u52d9\u878d\u8cc7\uff0c\u96d6\u7136\u80a1\u672c\u4e0d\u6703\u589e\u52a0\uff0c\u4ecd\u6709\u53ef\u80fd\u5f71\u97ff\u516c\u53f8\u7684\u6295\u8cc7\u7b56\u7565\u3002\u7576\u516c\u53f8\u63a1\u884c\u50b5\u52d9\u878d\u8cc7\u6642\uff0c\u5c08\u696d\u7d93\u7406\u4eba\u5c07\u9078\u64c7\u5167\u5728\u5831\u916c\u7387\u9ad8\u65bc\u878d\u8cc7\u6210\u672c\u4e4b\u6295\u8cc7\u6848\uff0c\u4e5f\u56e0\u6b64\u4f34\u96a8\u6536\u76ca\u8207\u98a8\u96aa\u905e\u589e\u7684\u8cc7\u7522\u8ca0\u50b5\u7d44\u5408\u3002\u7531\u65bc\u516c\u53f8\u878d\u8cc7\u8207\u6295\u8cc7\u4e0d\u4e92\u76f8\u7368\u7acb\uff0c\u5148\u5f8c\u9806\u5e8f\u4e5f\u53cd\u6620\u7d93\u71df\u8a0a\u606f\uff0c\u516c\u53f8\u5148\u8209\u50b5\u518d\u6c7a\u5b9a\u6295\u8cc7\u6c7a\u7b56\u6642\uff0c\u7d93\u71df\u5718\u968a\u662f\u5426\u53ef\u4ee5\u4fe1\u5b88\u539f\u5148\u7d66\u4e88\u4fdd\u6236\u7a69\u5065\u7d93\u71df\u7684\u627f\u8afe\uff0c\u4e5f\u5099\u53d7\u65e5\u5f8c\u5e02\u5834\u8003\u9a57\u3002<\/p>\n\n\n\n

\u53ef\u4ee5\u9810\u671f\u7684\u662f\uff0c\u58fd\u96aa\u516c\u53f8\u96a8\u8457\u8cc7\u7522\u8207\u8ca0\u50b5\u7684\u6210\u9577\u52e2\u5fc5\u627f\u53d7\u66f4\u591a\u98a8\u96aa\uff0c\u70ba\u7dad\u7e6b\u4fdd\u96aa\u516c\u53f8\u5c0d\u8981\u3001\u88ab\u4fdd\u96aa\u4eba\u7684\u9577\u671f\u627f\u8afe\uff0c\u5f37\u5316\u8cc7\u672c\u4ee5\u7dad\u7e6b\u6e05\u511f\u80fd\u529b\u61c9\u70ba\u5fc5\u8981\u524d\u63d0\u3002\u5982\u878d\u8cc7\u9806\u4f4d\u7406\u8ad6<\/a>(The Pecking Order Theory)\u9673\u8ff0\uff0c\u4f01\u696d\u878d\u8cc7\u65b9\u5f0f\u9078\u64c7\u9806\u5e8f\u9996\u5148\u662f\u5167\u90e8\u80a1\u6b0a\u878d\u8cc7(\u5373\u4fdd\u7559\u76c8\u9918\u8f49\u589e\u8cc7)\uff0c\u5176\u6b21\u662f\u50b5\u52d9\u878d\u8cc7\uff0c\u6700\u5f8c\u624d\u662f\u5916\u90e8\u80a1\u6b0a\u878d\u8cc7\u3002\u9078\u64c7\u80a1\u6b0a\u878d\u8cc7\u6642\u5fc5\u9808\u8003\u91cf\u5230\u80a1\u5229\u56de\u5831\u8207\u4f01\u696d\u63a7\u5236\u6b0a\uff0c\u516c\u53f8\u5229\u7528\u5916\u90e8\u80a1\u6b0a\u878d\u8cc7\uff0c\u5728\u8cc7\u672c\u5e02\u5834\u8868\u73fe\u4e0d\u4f73\u6642\uff0c\u52e2\u5fc5\u7a00\u91cb\u7d93\u71df\u6b0a\u8207\u589e\u52a0\u71df\u904b\u6210\u672c\u3002<\/p>\n\n\n\n

\u5c0d\u65bc\u8ca1\u52d9\u7a69\u5065\u7684\u516c\u53f8\u800c\u8a00\uff0c\u9078\u64c7\u767c\u884c\u6b21\u9806\u4f4d\u50b5\u5238\u7684\u512a\u9ede\u70ba\u9069\u6642\u88dc\u5f37\u516c\u53f8\u6e05\u511f\u80fd\u529b\u3001\u964d\u4f4e\u71df\u904b\u6210\u672c\u8207\u5916\u90e8\u5e02\u5834\u5236\u7d04<\/a>(Market Discipline)\u6a5f\u5236\uff0c\u800c\u8655\u65bc\u8ca8\u5e63\u5bec\u9b06\u653f\u7b56\u8207\u80a1\u5e02\u4f4e\u6a94\u76e4\u6574\u6642\uff0c\u76f8\u5c0d\u7c4c\u8cc7\u6210\u672c\u8f03\u4f4e\u3002\u56e0\u4fdd\u96aa\u696d\u5177\u6709\u9ad8\u8ca1\u52d9\u69d3\u687f\u7279\u6027\uff0c\u800c\u6b64\u985e\u50b5\u5238\u7684\u6301\u6709\u4eba\u8207\u767c\u884c\u4eba\u61c9\u9069\u5ea6\u5efa\u7acb\u9632\u706b\u7246\uff0c\u9632\u7bc4\u7cfb\u7d71\u6027\u98a8\u96aa\u3002<\/p>\n\n\n\n

\u8cc7\u672c\u7d50\u69cb\u53cd\u6620\u58fd\u96aa\u696d\u8ca1\u52d9\u69d3\u687f\uff0c\u70ba\u5c0d\u5916\u50b3\u905e\u71df\u904b\u8a0a\u606f\u7684\u91cd\u8981\u5de5\u5177\uff0c\u516c\u53f8\u8ca0\u8cac\u4eba\u53ef\u85c9\u8abf\u6574\u8cc7\u672c\u7d50\u69cb\uff0c\u50b3\u905e\u5c0d\u4f01\u696d\u98a8\u96aa\u6216\u672a\u4f86\u71df\u904b\u7684\u9810\u671f\u3002\u627f\u53d7\u5e02\u5834\u6ce2\u52d5\u52a0\u5287\u8207\u76e3\u7406\u5f37\u5ea6\u589e\u52a0\u4e0b\uff0c\u52e2\u5fc5\u9762\u5c0d\u6cd5\u5b9a\u8cc7\u672c\u589e\u52a0\u800c\u9700\u59a5\u5584\u9032\u884c\u8cc7\u7522\u914d\u7f6e\u8207\u8ca1\u52d9\u898f\u5283\uff0c\u800c\u70ba\u6301\u7e8c\u5f37\u5316\u4fdd\u96aa\u6a5f\u69cb\u9ad4\u8cea\uff0c\u85c9\u7531\u4f01\u696d\u81ea\u6cbb\u8a55\u4f30\u8207\u4e86\u89e3\u5176\u6240\u627f\u63a5\u696d\u52d9\u4e4b\u98a8\u96aa\u5c6c\u6027\uff0c\u63d0\u5347\u98a8\u96aa\u63a7\u7ba1\u6a5f\u5236\uff0c\u671f\u80fd\u7a69\u5065\u7d93\u71df\u4e26\u5275\u9020\u4fdd\u96aa\u516c\u53f8\u8207\u4fdd\u6236\u96d9\u8d0f\u4e4b\u5c40\u9762\u3002<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

\u4f01\u696d\u8cc7\u672c\u6210\u672c\u8207\u8ca1\u52d9\u6c7a\u7b56<\/h3>\n\n\n\n

\u4f01\u696d\u8ca1\u52d9\u898f\u5283\u5fc5\u9808\u8003\u91cf\u6240\u6295\u5165\u4e4b\u8cc7\u672c\u6210\u672c\uff0c\u52a0\u6b0a\u5e73\u5747\u8cc7\u672c\u6210\u672c<\/a>(Weighted Average Cost of Capital, WACC)\u662f\u4f01\u696d\u666e\u904d\u7528\u4ee5\u8a55\u4f30\u6295\u8cc7\u6848\u4e4b\u6a5f\u6703\u6210\u672c\uff0c\u6309\u7167\u516c\u53f8\u53d6\u5f97\u71df\u904b\u8cc7\u672c\u6027\u8cea\u6bd4\u4f8b\u52a0\u6b0a\uff0c\u5305\u62ec\u666e\u901a\u80a1\u3001\u512a\u5148\u80a1\u3001\u50b5\u5238\u548c\u5176\u4ed6\u9577\u671f\u50b5\u52d9\uff0cWACC\u662f\u4f01\u696d\u8a55\u4f30\u662f\u5426\u57f7\u884c\u9577\u671f\u8cc7\u672c\u6295\u8cc7\u6642\u878d\u8cc7\u6240\u61c9\u652f\u4ed8\u4e4b\u6210\u672c\u3002<\/p>\n\n\n\n

\u8cc7\u672c\u6210\u672c\u662f\u80a1\u6771\u548c\u50b5\u6b0a\u4eba\u4e4b\u671f\u671b\u56de\u5831\uff0c\u4f01\u696d\u9032\u884c\u6295\u8cc7\u6c7a\u7b56\u6642\uff0c\u6703\u5c07WACC\u8996\u70ba\u9810\u4f30\u672a\u4f86\u73fe\u91d1\u6d41\u91cf\u4e4b\u6298\u73fe\u7387\uff0c\u4ee5\u8a08\u7b97\u6295\u8cc7\u6848\u4e4b\u6de8\u73fe\u503c(Net Present Value, NPV)\u662f\u5426\u70ba\u6b63\uff0c\u6216\u662f\u6bd4\u8f03\u5167\u90e8\u5831\u916c\u7387<\/a>(Internal Rate of Return, IRR)\u662f\u5426\u9ad8\u904eWACC\uff0c\u5c07WACC\u8996\u70ba\u662f\u5426\u503c\u5f97\u6295\u8cc7\u7684\u9580\u6abb\u6307\u6a19\u3002<\/p>\n\n\n\n

\u8fd1\u671f\u4f34\u96a8\u5168\u7403\u592e\u884c\u8ca8\u5e63\u653f\u7b56\u7dca\u7e2e\u4e4b\u8da8\u52e2\uff0c\u5e02\u5834\u57fa\u672c\u5229\u7387\u666e\u904d\u63d0\u5347\uff0c\u986f\u8457\u62c9\u9ad8\u4f01\u696d\u7c4c\u8cc7\u7684\u8cc7\u672c\u6210\u672c\uff0c\u4ee5\u7c21\u55ae\u8ca1\u52d9\u6578\u5b57\u8aaa\u660e\uff0c\u5047\u8a2d\u516c\u53f8\u898f\u5283\u4e4b\u6295\u8cc7\u6848IRR\u70ba20\uff05\uff0cWACC\u70ba10\uff05\uff0c\u986f\u793a\u4f01\u696d\u7372\u5229\u70ba10\uff05\uff0c\u7b26\u5408\u516c\u53f8\u50f9\u503c\u589e\u52a0\u7684\u8ca1\u52d9\u6c7a\u7b56\u3002\u4f46\u5982\u679cIRR\u70ba10\uff05\uff0cWACC\u70ba20\uff05\uff0c\u6295\u8cc7\u6848IRR\u5c0f\u65bcWACC\uff0c\u5247\u986f\u793a\u8a72\u6295\u8cc7\u6848\u7121\u6cd5\u7522\u751f\u516c\u53f8\u50f9\u503c\uff0c\u8ca1\u52d9\u6c7a\u7b56\u5fc5\u9808\u9078\u64c7IRR\u9ad8\u904eWACC\u4e4b\u6295\u8cc7\u6848\uff0c\u6216\u662f\u5617\u8a66\u900f\u904e\u8abf\u6574\u8cc7\u672c\u7d50\u69cb\u4ee5\u964d\u4f4e\u6574\u9ad4WACC\u3002<\/p>\n\n\n\n

\u516c\u53f8\u8a55\u4f30\u6295\u8cc7\u6c7a\u7b56\u6642\u9700\u8003\u616e\u8cc7\u672c\u6210\u672c\uff0c\u878d\u8cc7\u65b9\u5f0f\u4e3b\u8981\u900f\u904e\u767c\u884c\u80a1\u7968\u6216\u662f\u50b5\u5238\uff0c\u5fc5\u9808\u5b9a\u671f\u652f\u4ed8\u5229\u606f\u7d66\u4e88\u50b5\u5238\u6301\u6709\u4eba\u8207\u63d0\u4f9b\u5408\u7406\u80a1\u5229\u56de\u994b\u80a1\u6771\u3002WACC\u662f\u8003\u616e\u6295\u8cc7\u6c7a\u7b56\u662f\u5426\u57f7\u884c\u7684\u9580\u6abb\uff0c\u6b78\u7d0d\u4f01\u696d\u8ca1\u52d9\u6c7a\u7b56\u8207\u696d\u52d9\u7b56\u7565\u9593\u4e4b\u95dc\u806f\u6027\uff0c\u964d\u4f4eWACC\u53ef\u6709\u6548\u63d0\u5347\u7372\u5229\uff0c\u589e\u52a0\u516c\u53f8\u7576\u671f\u640d\u76ca\uff0c\u800c\u900f\u904e\u8cc7\u672c\u7d50\u69cb\u589e\u52a0\u50b5\u52d9\u6bd4\u53ef\u964d\u4f4eWACC\uff0c\u5fc5\u9808\u642d\u914d\u6709\u6548\u98a8\u96aa\u7ba1\u7406\uff0c\u56e0\u6b64\u8cc7\u672c\u6210\u672c\u8003\u91cf\u4e0b\uff0c\u878d\u8cc7\u7b56\u7565\u5c07\u986f\u8457\u5f71\u97ff\u4f01\u696d\u9577\u9060\u767c\u5c55\u3002<\/p>\n\n\n\n

More\uff1a\u8cc7\u672c\u5f37\u5316\u76e3\u7406\u8207\u4f01\u696d\u7d93\u71df\u6311\u6230<\/a><\/p>\n\n\n\n

\u56e0\u61c9\u63a5\u8ecc\u570b\u969b\u6703\u8a08\u6e96\u5247IFRS 17\u8207\u5e02\u5834\u9ad8\u5ea6\u8b8a\u52d5\u4e0b\uff0c\u5faa\u5e8f\u6f38\u9032\u5730\u5f37\u5316\u8cc7\u672c\u76e3\u7406\u662f\u5fc5\u7136\u8da8\u52e2\uff0c\u800c\u9808\u8003\u91cf\u5883\u5167\u9ad8\u8cc7\u672c\u6210\u672c\u8207\u53f0\u5e63\u56fa\u5b9a\u6536\u76ca\u5e02\u5834\u4f4e\u6295\u8cc7\u6536\u76ca\u4e4b\u73fe\u5be6\uff0c\u5c24\u5176\u5c6c\u65bc\u53f0\u5e63\u56fa\u5b9a\u6536\u76ca\u578b\u614b\u7684\u6295\u8cc7\u6848\uff0c\u5982\u53f0\u7063\u57fa\u790e\u516c\u5171\u5efa\u8a2d\u4e4b\u6536\u76ca\u8207\u58fd\u96aa\u516c\u53f8\u8cc7\u672c\u6210\u672c\u9593\u843d\u5dee\u4ecd\u7136\u6709\u8ddd\u96e2\uff0c\u5982\u4f55\u6709\u6548\u7e2e\u77ed\u843d\u5dee\uff0c\u4e5f\u5c07\u6301\u7e8c\u6210\u70ba\u91cd\u8981\u8ab2\u984c\u8207\u52aa\u529b\u65b9\u5411\u3002<\/p>","protected":false},"excerpt":{"rendered":"

\u6587 \/ \u5f35\u58eb\u5091 \u58fd\u96aa\u696d\u50b5\u52d9\u7c4c\u8cc7\u6548\u76ca\u5206\u6790 \u793e\u6703\u5927\u773e\u5982\u4f55\u89e3\u8b80\u58fd\u96aa\u516c\u53f8\u63d0\u5347\u8cc7\u672c\u9069\u8db3\u7387\u800c\u767c\u884c\u6b21\u9806\u4f4d\u516c\u53f8\u50b5(Subord …<\/p>","protected":false},"author":9,"featured_media":13424,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[4780,64,91],"tags":[3840,3844,3843,190,3842,3837,3839,3841,3838],"class_list":["post-13430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-4780","category-64","category-91","tag-3840","tag-3844","tag-3843","tag-190","tag-3842","tag-3837","tag-3839","tag-3841","tag-3838"],"acf":[],"yoast_head":"\n\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55 - \u5353\u8d8a\u96fb\u5b50\u5831<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/readfi.news\/en\/13430\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55 - \u5353\u8d8a\u96fb\u5b50\u5831\" \/>\n<meta property=\"og:description\" content=\"\u6587 \/ \u5f35\u58eb\u5091 \u58fd\u96aa\u696d\u50b5\u52d9\u7c4c\u8cc7\u6548\u76ca\u5206\u6790 \u793e\u6703\u5927\u773e\u5982\u4f55\u89e3\u8b80\u58fd\u96aa\u516c\u53f8\u63d0\u5347\u8cc7\u672c\u9069\u8db3\u7387\u800c\u767c\u884c\u6b21\u9806\u4f4d\u516c\u53f8\u50b5(Subord …\" \/>\n<meta property=\"og:url\" content=\"https:\/\/readfi.news\/en\/13430\/\" \/>\n<meta property=\"og:site_name\" content=\"\u5353\u8d8a\u96fb\u5b50\u5831\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/readfi.news\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-25T12:04:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-15T07:11:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/readfi.news\/wp-content\/uploads\/2023\/05\/0525-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1280\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/\"},\"author\":{\"name\":\"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3\",\"@id\":\"https:\\\/\\\/readfi.news\\\/#\\\/schema\\\/person\\\/d64bc19354db8872a6491ca38b068ada\"},\"headline\":\"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55\",\"datePublished\":\"2023-05-25T12:04:30+00:00\",\"dateModified\":\"2024-07-15T07:11:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/\"},\"wordCount\":46,\"publisher\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/readfi.news\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/0525-3.jpg\",\"keywords\":[\"\u50b5\u52d9\u878d\u8cc7\",\"\u5167\u90e8\u5831\u916c\u7387\",\"\u52a0\u6b0a\u5e73\u5747\u8cc7\u672c\u6210\u672c\",\"\u5353\u8d8a\u982d\u689d\",\"\u5916\u90e8\u5e02\u5834\u5236\u7d04\",\"\u6b21\u9806\u4f4d\u516c\u53f8\u50b5\",\"\u80a1\u6b0a\u878d\u8cc7\",\"\u878d\u8cc7\u9806\u4f4d\u7406\u8ad6\",\"\u91d1\u878d\u6d77\u562f\"],\"articleSection\":[\"\u4fdd\u96aa\u8ad6\u58c7\",\"\u6642\u4e8b\",\"\u8ca1\u7d93\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/\",\"url\":\"https:\\\/\\\/readfi.news\\\/13430\\\/\",\"name\":\"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55 - \u5353\u8d8a\u96fb\u5b50\u5831\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/readfi.news\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/0525-3.jpg\",\"datePublished\":\"2023-05-25T12:04:30+00:00\",\"dateModified\":\"2024-07-15T07:11:36+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/readfi.news\\\/13430\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/#primaryimage\",\"url\":\"https:\\\/\\\/readfi.news\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/0525-3.jpg\",\"contentUrl\":\"https:\\\/\\\/readfi.news\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/0525-3.jpg\",\"width\":1920,\"height\":1280},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/readfi.news\\\/13430\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u9996\u9801\",\"item\":\"https:\\\/\\\/readfi.news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/readfi.news\\\/#website\",\"url\":\"https:\\\/\\\/readfi.news\\\/\",\"name\":\"\u5353\u8d8a\u96fb\u5b50\u5831\",\"description\":\"\u8ffd\u6c42\u5dd4\u5cf0\u3001\u5353\u8d8a\u8d85\u7136\",\"publisher\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/readfi.news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/readfi.news\\\/#organization\",\"name\":\"\u5353\u8d8a\u96fb\u5b50\u5831\",\"url\":\"https:\\\/\\\/readfi.news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/readfi.news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/readfi.news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/logo.jpg?fit=880%2C322&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/readfi.news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/logo.jpg?fit=880%2C322&ssl=1\",\"width\":880,\"height\":322,\"caption\":\"\u5353\u8d8a\u96fb\u5b50\u5831\"},\"image\":{\"@id\":\"https:\\\/\\\/readfi.news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/readfi.news\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/readfi.news\\\/#\\\/schema\\\/person\\\/d64bc19354db8872a6491ca38b068ada\",\"name\":\"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ec1b245c7c59f3eec79495b33707fa94e2f25e6fe04d0f95bfab8ea9efda13b0?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ec1b245c7c59f3eec79495b33707fa94e2f25e6fe04d0f95bfab8ea9efda13b0?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/ec1b245c7c59f3eec79495b33707fa94e2f25e6fe04d0f95bfab8ea9efda13b0?s=96&d=mm&r=g\",\"caption\":\"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3\"},\"url\":\"https:\\\/\\\/readfi.news\\\/en\\\/author\\\/editor2\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55 - \u5353\u8d8a\u96fb\u5b50\u5831","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/readfi.news\/en\/13430\/","og_locale":"en_US","og_type":"article","og_title":"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55 - \u5353\u8d8a\u96fb\u5b50\u5831","og_description":"\u6587 \/ \u5f35\u58eb\u5091 \u58fd\u96aa\u696d\u50b5\u52d9\u7c4c\u8cc7\u6548\u76ca\u5206\u6790 \u793e\u6703\u5927\u773e\u5982\u4f55\u89e3\u8b80\u58fd\u96aa\u516c\u53f8\u63d0\u5347\u8cc7\u672c\u9069\u8db3\u7387\u800c\u767c\u884c\u6b21\u9806\u4f4d\u516c\u53f8\u50b5(Subord …","og_url":"https:\/\/readfi.news\/en\/13430\/","og_site_name":"\u5353\u8d8a\u96fb\u5b50\u5831","article_publisher":"https:\/\/www.facebook.com\/readfi.news","article_published_time":"2023-05-25T12:04:30+00:00","article_modified_time":"2024-07-15T07:11:36+00:00","og_image":[{"width":1920,"height":1280,"url":"https:\/\/readfi.news\/wp-content\/uploads\/2023\/05\/0525-3.jpg","type":"image\/jpeg"}],"author":"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3","twitter_card":"summary_large_image","twitter_misc":{"Written by":"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/readfi.news\/13430\/#article","isPartOf":{"@id":"https:\/\/readfi.news\/13430\/"},"author":{"name":"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3","@id":"https:\/\/readfi.news\/#\/schema\/person\/d64bc19354db8872a6491ca38b068ada"},"headline":"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55","datePublished":"2023-05-25T12:04:30+00:00","dateModified":"2024-07-15T07:11:36+00:00","mainEntityOfPage":{"@id":"https:\/\/readfi.news\/13430\/"},"wordCount":46,"publisher":{"@id":"https:\/\/readfi.news\/#organization"},"image":{"@id":"https:\/\/readfi.news\/13430\/#primaryimage"},"thumbnailUrl":"https:\/\/readfi.news\/wp-content\/uploads\/2023\/05\/0525-3.jpg","keywords":["\u50b5\u52d9\u878d\u8cc7","\u5167\u90e8\u5831\u916c\u7387","\u52a0\u6b0a\u5e73\u5747\u8cc7\u672c\u6210\u672c","\u5353\u8d8a\u982d\u689d","\u5916\u90e8\u5e02\u5834\u5236\u7d04","\u6b21\u9806\u4f4d\u516c\u53f8\u50b5","\u80a1\u6b0a\u878d\u8cc7","\u878d\u8cc7\u9806\u4f4d\u7406\u8ad6","\u91d1\u878d\u6d77\u562f"],"articleSection":["\u4fdd\u96aa\u8ad6\u58c7","\u6642\u4e8b","\u8ca1\u7d93"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/readfi.news\/13430\/","url":"https:\/\/readfi.news\/13430\/","name":"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55 - \u5353\u8d8a\u96fb\u5b50\u5831","isPartOf":{"@id":"https:\/\/readfi.news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/readfi.news\/13430\/#primaryimage"},"image":{"@id":"https:\/\/readfi.news\/13430\/#primaryimage"},"thumbnailUrl":"https:\/\/readfi.news\/wp-content\/uploads\/2023\/05\/0525-3.jpg","datePublished":"2023-05-25T12:04:30+00:00","dateModified":"2024-07-15T07:11:36+00:00","breadcrumb":{"@id":"https:\/\/readfi.news\/13430\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/readfi.news\/13430\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/readfi.news\/13430\/#primaryimage","url":"https:\/\/readfi.news\/wp-content\/uploads\/2023\/05\/0525-3.jpg","contentUrl":"https:\/\/readfi.news\/wp-content\/uploads\/2023\/05\/0525-3.jpg","width":1920,"height":1280},{"@type":"BreadcrumbList","@id":"https:\/\/readfi.news\/13430\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u9996\u9801","item":"https:\/\/readfi.news\/"},{"@type":"ListItem","position":2,"name":"\u63d0\u5347\u8cc7\u672c\u54c1\u8cea\u4ee5\u5229\u4f01\u696d\u9577\u9060\u767c\u5c55"}]},{"@type":"WebSite","@id":"https:\/\/readfi.news\/#website","url":"https:\/\/readfi.news\/","name":"\u5353\u8d8a\u96fb\u5b50\u5831","description":"\u8ffd\u6c42\u5dd4\u5cf0\u3001\u5353\u8d8a\u8d85\u7136","publisher":{"@id":"https:\/\/readfi.news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/readfi.news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/readfi.news\/#organization","name":"\u5353\u8d8a\u96fb\u5b50\u5831","url":"https:\/\/readfi.news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/readfi.news\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/readfi.news\/wp-content\/uploads\/2022\/04\/logo.jpg?fit=880%2C322&ssl=1","contentUrl":"https:\/\/i0.wp.com\/readfi.news\/wp-content\/uploads\/2022\/04\/logo.jpg?fit=880%2C322&ssl=1","width":880,"height":322,"caption":"\u5353\u8d8a\u96fb\u5b50\u5831"},"image":{"@id":"https:\/\/readfi.news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/readfi.news"]},{"@type":"Person","@id":"https:\/\/readfi.news\/#\/schema\/person\/d64bc19354db8872a6491ca38b068ada","name":"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/ec1b245c7c59f3eec79495b33707fa94e2f25e6fe04d0f95bfab8ea9efda13b0?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/ec1b245c7c59f3eec79495b33707fa94e2f25e6fe04d0f95bfab8ea9efda13b0?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/ec1b245c7c59f3eec79495b33707fa94e2f25e6fe04d0f95bfab8ea9efda13b0?s=96&d=mm&r=g","caption":"\u5353\u8d8a\u96fb\u5b50\u5831 \u65b0\u805e\u4e2d\u5fc3"},"url":"https:\/\/readfi.news\/en\/author\/editor2\/"}]}},"_links":{"self":[{"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/posts\/13430","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/comments?post=13430"}],"version-history":[{"count":0,"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/posts\/13430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/media\/13424"}],"wp:attachment":[{"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/media?parent=13430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/categories?post=13430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/readfi.news\/en\/wp-json\/wp\/v2\/tags?post=13430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}