{"id":311075,"date":"2013-08-28T12:34:39","date_gmt":"2013-08-28T19:34:39","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/chinese\/2013\/08\/%e7%be%8e%e5%9b%bd%e4%b9%8b%e9%9f%b3-%e5%8d%8e%e5%b0%94%e8%a1%97%e4%b8%8a%e4%b8%ad%e5%9b%bd%e5%a4%aa%e5%ad%90%e5%85%9a4%ef%bc%9a%e9%ab%98%e5%ae%98%e5%ad%90%e5%a5%b3%e8%87%aa%e5%bb%ba%e9%87%91\/"},"modified":"2015-11-18T23:17:25","modified_gmt":"2015-11-19T07:17:25","slug":"%e7%be%8e%e5%9b%bd%e4%b9%8b%e9%9f%b3-%e5%8d%8e%e5%b0%94%e8%a1%97%e4%b8%8a%e4%b8%ad%e5%9b%bd%e5%a4%aa%e5%ad%90%e5%85%9a4%ef%bc%9a%e9%ab%98%e5%ae%98%e5%ad%90%e5%a5%b3%e8%87%aa%e5%bb%ba%e9%87%91","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/chinese\/311075.html","title":{"rendered":"\u7f8e\u56fd\u4e4b\u97f3 | \u534e\u5c14\u8857\u4e0a\u4e2d\u56fd\u592a\u5b50\u515a(4)\uff1a\u9ad8\u5b98\u5b50\u5973\u81ea\u5efa\u91d1\u878d\u5e1d\u56fd"},"content":{"rendered":"

\u534e\u76db\u987f \u2014 \u7f8e\u56fd\u653f\u5e9c\u6839\u636e\u8054\u90a6\u6cd5\u5f8b\u300a\u53cd\u6d77\u5916\u8150\u8d25\u6cd5\u300b(Foreign Corrupt Practices Act) \u5bf9\u6469\u6839\u5927\u901a\u96c7\u4f63\u4e2d\u56fd\u9ad8\u5b98\u5b50\u5973\u5c55\u5f00\u8c03\u67e5\u3002\u4f46\u662f\u89c2\u5bdf\u4eba\u58eb\u6307\u51fa\uff0c\u8fd9\u4e00\u884c\u52a8\u5176\u5b9e\u5df2\u7ecf\u662f\u9a6c\u540e\u70ae\uff0c\u56e0\u4e3a\u6700\u8fd1\u51e0\u5e74\uff0c\u4e2d\u5171\u592a\u5b50\u515a\u5bf9\u4e8e\u534e\u5c14\u8857\u6295\u8d44\u94f6\u884c\u6765\u8bf4\uff0c\u4ef7\u503c\u5df2\u7ecf\u5927\u5927\u7f29\u6c34\u3002\u5728\u5931\u53bb\u4e86\u534e\u5c14\u8857\u7684\u9752\u7750\u4e4b\u540e\uff0c\u4e2d\u5171\u9ad8\u5b98\u7684\u4e00\u4e9b\u5b50\u5973\u5f00\u59cb\u72ec\u8f9f\u8e4a\u5f84\uff0c\u56de\u4e2d\u56fd\uff0c\u5c24\u5176\u662f\u9999\u6e2f\uff0c\u6253\u9020\u81ea\u5df1\u7684\u91d1\u878d\u5e1d\u56fd\u3002<\/p>\n

\u548c\u5f20\u66e6\u66e6\u548c\u5510\u6653\u5b81\u4e00\u6837\uff0c\u5f88\u591a\u201c\u592a\u5b50\u515a\u201d\u90fd\u5df2\u7ecf\u79bb\u5f00\u4e86\u534e\u5c14\u8857\u94f6\u884c\uff0c\u8f6c\u800c\u6d89\u8db3\u79c1\u52df\u57fa\u91d1\u3002\u4f8b\u5982\uff0c\u524d\u56fd\u5bb6\u603b\u7406\u6e29\u5bb6\u5b9d\u7684\u513f\u5b50\u6e29\u4e91\u677e\u57282005\u5e74\u521b\u7acb\u4e86\u65b0\u5929\u57df\u8d44\u672c\u516c\u53f8 (New Horizon Capital)\u3002\u6839\u636e\u82f1\u56fd\u300a\u91d1\u878d\u65f6\u62a5\u300b\u62a5\u9053\uff0c\u8fd9\u5bb6\u516c\u53f8\u7ba1\u7406\u7740\u6570\u5341\u4ebf\u7f8e\u5143\u7684\u8d44\u91d1\uff0c\u6295\u8d44\u65b9\u5305\u62ec\u4e86\u5fb7\u610f\u5fd7\u94f6\u884c (Deutsche Bank)\u3001\u6469\u6839\u5927\u901a (JPMorgan Chase & Co.)\u3001\u4ee5\u53ca\u745e\u94f6 (UBS) \u7b49\u3002\u800c\u524d\u653f\u6cbb\u5c40\u5e38\u59d4\u674e\u745e\u73af\u7684\u513f\u5b50\u674e\u632f\u798f\u4e5f\u521b\u7acb\u4e86\u5fb7\u798f\u8d44\u672c (GL Capital Group) \u5e76\u62c5\u4efb\u9996\u5e2d\u6267\u884c\u5b98\u3002<\/p>\n

\u9884\u671f\u6700\u65e9\u4eca\u5e74\u4e0a\u5e02\u7684\u963f\u91cc\u5df4\u5df4\u662f\u4e2d\u56fd\u6700\u5927\u7684\u7535\u5b50\u5546\u52a1\u516c\u53f8\uff0c\u53bb\u5e74\u5305\u62ec\u535a\u88d5\u8d44\u672c (Boyu Capital)\u3001\u4e2d\u56fd\u6295\u8d44\u6709\u9650\u8d23\u4efb\u516c\u53f8 (China Investment Corp.)\u3001 \u4e2d\u4fe1\u8d44\u672c (CITIC Capital)\u3001\u56fd\u5bb6\u5f00\u53d1\u94f6\u884c (China Development Bank) \u5728\u5185\u7684\u6295\u8d44\u8005\u6536\u8d2d\u4e86\u963f\u91cc\u5df4\u5df4\u96c6\u56e25.6\uff05\u7684\u80a1\u4efd\u3002\u524d\u56fd\u5bb6\u4e3b\u5e2d\u6c5f\u6cfd\u6c11\u7684\u5b59\u5b50\u6c5f\u5fd7\u6210\u6b63\u662f\u535a\u88d5\u8d44\u672c\u7684\u5408\u4f19\u4eba\u4e4b\u4e00\uff0c1986\u5e74\u51fa\u751f\u7684\u6c5f\u5fd7\u6210\u6bd5\u4e1a\u4e8e\u54c8\u4f5b\u5927\u5b66\u7ecf\u6d4e\u7cfb\u3002\u535a\u88d5\u8d44\u672c\u57282010\u5e74\u6ce8\u518c\uff0c\u9884\u8ba1\u5c06\u57282013\u5e74\u665a\u4e9b\u65f6\u5019\u63a8\u51fa\u7b2c\u4e8c\u671f\u57fa\u91d1\uff0c\u7b79\u8d44\u76ee\u6807\u662f15\u4ebf\u7f8e\u5143\u3002<\/p>\n

\u5305\u62ec\u6c5f\u5fd7\u6210\u5728\u5185\uff0c\u5f88\u591a\u201c\u592a\u5b50\u515a\u201d\u90fd\u6bd5\u4e1a\u4e8e\u7f8e\u56fd\u6216\u6b27\u6d32\u540d\u6821\uff0c\u4f8b\u5982\uff0c\u6e29\u4e91\u677e\u662f\u7f8e\u56fd\u897f\u5317\u5927\u5b66\u51ef\u6d1b\u7ba1\u7406\u5b66\u9662 (Kellogg School of Management) \u7684\u5de5\u5546\u7ba1\u7406\u7855\u58eb\u3001\u674e\u632f\u798f\u66fe\u5728\u7f8e\u56fd\u829d\u52a0\u54e5\u5927\u5b66\u8bfb\u5de5\u5546\u7ba1\u7406\uff0c\u4f46\u662f\u7ae0\u5bb6\u6566 (Gordon Chang) \u8ba4\u4e3a\u4ed6\u4eec\u4e5f\u4ece\u5bb6\u5ead\u5173\u7cfb\u4e2d\u53d7\u60e0\u3002\u4ed6\u8bf4\uff1a\u201c\u8fd9\u4e9b\u2018\u592a\u5b50\u515a\u2019\u5f00\u59cb\u6210\u7acb\u81ea\u5df1\u7684\u516c\u53f8\uff0c\u5e76\u5229\u7528\u4ed6\u4eec\u7684\u5173\u7cfb\uff0c\u5305\u62ec\u4ed6\u4eec\u7684\u7236\u6bcd\u4ee5\u53ca\u7236\u6bcd\u7684\u670b\u53cb\u7b49\u5173\u7cfb\uff0c\u5728\u4f53\u5236\u4e2d\u83b7\u76ca\u3002\u4e2d\u56fd\u653f\u6cbb\u4f53\u5236\u7684\u672c\u8d28\u5c31\u662f\u8981\u9760\u5173\u7cfb\uff0c\u4f60\u8ba4\u8bc6\u4ec0\u4e48\u4eba\uff0c\u800c\u4e0d\u662f\u4e3b\u8981\u9760\u4f60\u7684\u80fd\u529b\u3002\u201d<\/p>\n

\u9664\u4e86\u81ea\u521b\u79c1\u52df\u57fa\u91d1\u5916\uff0c\u5f88\u591a\u201c\u592a\u5b50\u515a\u201d\u4e5f\u4efb\u804c\u4e8e\u56fd\u4f01\u53c2\u4e0e\u7684\u91d1\u878d\u673a\u6784\u3002\u7ebd\u7ea6\u57ce\u5e02\u5927\u5b66 (The City University of New York) \u653f\u6cbb\u5b66 (Political Science and Global Affairs) \u6559\u6388\u590f\u660e (Ming Xia) \u8bf4\uff1a\u201c\u4e2d\u56fd\u7ba1\u7406\u8d44\u672c\u7684\u4f53\u7cfb\u662f\u4e00\u4e2a\u9ad8\u5ea6\u4e2d\u592e\u96c6\u6743\u5316\u7684\u4f53\u7cfb\u3002\u9ad8\u5e72\u7684\u5b50\u5973\u6293\u7d27\u4e86\u975e\u5e38\u597d\u7684\u4e00\u4e2a\u673a\u4f1a\uff0c\u4ed6\u4eec\u88ab\u897f\u65b9\u56fd\u5bb6\u96c7\u7528\u540e\uff0c\u79ef\u7d2f\u4e86\u5728\u6295\u884c\u7684\u7ecf\u9a8c\u540e\uff0c\u6b63\u597d\u4e2d\u56fd\u51fa\u73b0\u4e86\u5927\u91cf\u7684\u8fc7\u5269\u8d44\u672c\u3002\u8fd9\u8868\u73b0\u5728\u4e2d\u56fd\u7684\u5916\u6c47\u50a8\u5907\u8fbe\u5230\u4e09\u4e07\u4ebf\uff0c\u4e2d\u56fd\u7684\u5916\u6c47\u50a8\u5907\u4ee5\u53ca\u4e2d\u56fd\u5728\u7f8e\u56fd\u4e70\u7684\u56fd\u503a\u7b49\u90fd\u9700\u8981\u5927\u91cf\u7684\u4eba\u6765\u7ba1\u7406\uff0c\u6240\u4ee5\u6210\u7acb\u4e86\u4e2d\u91d1\u516c\u53f8\u7b49\u6765\u7ba1\u7406\u8fd9\u4e9b\u8d44\u4ea7\u3002\u201d<\/p>\n

\u4e2d\u56fd\u56fd\u9645\u91d1\u878d\u6709\u9650\u516c\u53f8 (China International Capital Corporation Limited.) \uff0c\u7b80\u79f0\u4e2d\u91d1\u516c\u53f8 (CICC)\uff0c\u6210\u7acb\u4e8e1995\u5e747\u6708\uff0c\u662f\u4e2d\u56fd\u7b2c\u4e00\u5bb6\u5408\u8d44\u6295\u884c\uff0c\u6ce8\u518c\u8d44\u672c\u662f2.25\u4ebf\u7f8e\u5143\u3002\u4e2d\u91d1\u516c\u53f8\u7684\u9996\u4e2a\u5927\u578b\u9879\u76ee\u662f\u4e2d\u56fd\u7535\u4fe1\uff08\u9999\u6e2f\uff09\uff08\u73b0\u4e2d\u56fd\u79fb\u52a8\uff0942\u4ebf\u7f8e\u5143\u7684\u6d77\u5916\u9996\u6b21\u516c\u5f00\u53d1\u884c\u30022004\u5e74\uff0c\u524d\u603b\u7406\u6731\u9394\u57fa\u7684\u957f\u5b50\u6731\u4e91\u6765\u51fa\u4efb\u4e2d\u91d1\u516c\u53f8\u7684\u9996\u5e2d\u6267\u884c\u5b98\u3002<\/p>\n

\u6b64\u5916\uff0c\u524d\u4eba\u5927\u59d4\u5458\u957f\u5434\u90a6\u56fd\u7684\u5973\u5a7f\u51af\u7ecd\u4e1c\u4ee5\u53ca\u73b0\u4efb\u653f\u6cbb\u5c40\u5e38\u59d4\u5218\u4e91\u5c71\u7684\u513f\u5b50\u5218\u4e50\u98de\u4e5f\u5206\u522b\u62c5\u4efb\u4e2d\u5e7f\u6838\u4ea7\u4e1a\u6295\u8d44\u57fa\u91d1\u603b\u88c1\u548c\u4e2d\u4fe1\u4ea7\u4e1a\u57fa\u91d1\u7684\u8463\u4e8b\u957f\u517c\u9996\u5e2d\u6267\u884c\u5b98\u3002<\/p>\n

\u5bf9\u4e8e\u5982\u4f55\u7ba1\u7406\u4e2d\u56fd\u7684\u5916\u6c47\u50a8\u5907\u7b49\u8d44\u4ea7\uff0c\u590f\u660e\u6559\u6388\u8ba4\u4e3a\uff1a\u201c\u663e\u7136\u4ed6\u4eec\u4e5f\u53ea\u80fd\u76f8\u4fe1\u81ea\u5df1\u7684\u5b50\u5973\uff0c\u6240\u4ee5\u8fd9\u6837\u7684\u8bdd\u5927\u91cf\u9ad8\u5e72\u5b50\u5973\u5c31\u5229\u7528\u8fd9\u4e2a\u673a\u4f1a\u5728\u63a8\u52a8\u548c\u5229\u7528\u4e2d\u56fd\u7ecf\u6d4e\u7684\u91d1\u878d\u5316\u548c\u8d27\u5e01\u5316\uff0c\u4e00\u65b9\u9762\u6765\u7ef4\u6301\u653f\u6743\u7684\u8fd0\u4f5c\uff0c\u53e6\u4e00\u65b9\u9762\u4e5f\u5728\u635e\u53d6\u81ea\u5df1\u7684\u79c1\u5229\u3002\u201d<\/p>\n

\u4e2d\u56fd\u6709\u8d8a\u6765\u8d8a\u591a\u7684\u56fd\u4f01\u6295\u884c\u548c\u57fa\u91d1\uff0c\u8fd9\u5bf9\u534e\u5c14\u8857\u6295\u884c\u5728\u4e2d\u56fd\u7684\u76c8\u5229\u6709\u4e00\u5b9a\u5f71\u54cd\u3002\u636e\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u62a5\u9053\uff0c\u4e2d\u56fd\u516c\u53f8\u652f\u4ed8\u7ed9\u534e\u5c14\u8857\u7684\u9996\u6b21\u516c\u5f00\u52df\u80a1 (Initial Public Offering) \u8d39\u7528\u5df2\u7ecf\u4ece2012\u5e74\u76846.52\u4ebf\u7f8e\u91d1\u964d\u4f4e\u52302013\u5e74\u540c\u671f\u76847, 700\u4e07\u7f8e\u91d1\u3002\u6ce2\u58eb\u987f\u54a8\u8be2\u516c\u53f8(Boston Consulting Group) \u7684\u8d44\u6df1\u5408\u4f19\u4eba\u517c\u8463\u4e8b\u603b\u7ecf\u7406\u9093\u4fca\u8c6a (Tjun Tang) \u4e5f\u8ba4\u4e3a\u4e2d\u56fd\u201c\u592a\u5b50\u515a\u201d\u5bf9\u4e8e\u534e\u5c14\u8857\u5df2\u7ecf\u6ca1\u6709\u90a3\u4e48\u5927\u7684\u4ef7\u503c\u4e86\u3002<\/p>\n

\u53e6\u4e00\u65b9\u9762\uff0c\u4e2d\u56fd\u653f\u6cbb\u7684\u53d8\u52a8\u4e5f\u4f1a\u5bf9\u80a1\u5e02\u4ef7\u683c\u4ea7\u751f\u5f71\u54cd\u3002\u636e\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u62a5\u9053\uff0c\u5728\u8584\u7199\u6765\u4e8b\u4ef6\u53d1\u751f\u540e\uff0c\u4e2d\u56fd\u5149\u5927\u96c6\u56e2\u80a1\u7968\u7684\u6210\u4ea4\u91cf\u4e0b\u8dcc\u4e8610\uff05\uff0c\u8584\u7199\u6765\u7684\u54e5\u54e5\u8584\u7199\u6c38\u66fe\u4efb\u8be5\u96c6\u56e2\u7684\u526f\u4e3b\u5e2d\u3002\u8fd9\u6b21\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a (The Securities and Exchange Commission) \u5bf9\u6469\u6839\u5927\u901a\u96c7\u7528\u4e24\u540d\u4e2d\u56fd\u653f\u754c\u9ad8\u5c42\u5b50\u5973\u7684\u8c03\u67e5\u4e5f\u4ee4\u6469\u6839\u5927\u901a\u7684\u80a1\u4ef7\u4e0b\u8dcc\u3002<\/p>\n

\u5728\u7f8e\u56fd\u653f\u5e9c\u5bf9\u6469\u6839\u5927\u901a\u8fdb\u884c\u8d2a\u8150\u8c03\u67e5\u7684\u540c\u65f6\uff0c\u4e2d\u56fd\u8fd1\u671f\u4e5f\u5bf9\u4e00\u4e9b\u5916\u8d44\u4f01\u4e1a\u662f\u5426\u8fdd\u53cd\u300a\u53cd\u5784\u65ad\u6cd5\u300b\u52a0\u5f3a\u8c03\u67e5\u3002\u7ae0\u5bb6\u6566\u8bf4\uff1a\u201c\u6211\u8ba4\u4e3a\u8fd9\u4e3b\u8981\u662f\u4e3a\u4e86\u5e2e\u52a9\u56fd\u4f01\u3002\u56e0\u4e3a\u5916\u4f01\u5df2\u7ecf\u5728\u4e2d\u56fd\u7684\u5e02\u573a\u6709\u5f88\u5927\u7684\u7ade\u4e89\u529b\uff0c\u5317\u4eac\u4e0d\u5e0c\u671b\u770b\u5230\u56fd\u4f01\u7684\u5e02\u573a\u4efd\u989d\u51cf\u5c11\u3002\u5317\u4eac\u8981\u628a\u673a\u4f1a\u7559\u7ed9\u56fd\u4f01\uff0c\u56e0\u4e3a\u56fd\u4f01\u4e3a\u653f\u5e9c\u5e26\u6765\u6536\u5165\uff0c\u5e76\u4e14\u4e5f\u662f\u4e2d\u5171\u7684\u652f\u67f1\u3002\u201d<\/p>\n

\u590f\u660e\u6559\u6388\u4e5f\u8ba4\u540c\uff0c\u8fd9\u4ece\u67d0\u79cd\u7a0b\u5ea6\u4e0a\u662f\u4e2d\u56fd\u4e3a\u4fdd\u62a4\u56fd\u4f01\u7684\u884c\u4e3a\uff0c\u56e0\u4e3a\u7ecf\u6d4e\u6539\u9769\u5230\u4e86\u4e00\u5b9a\u7a0b\u5ea6\uff0c\u6709\u53ef\u80fd\u5371\u53ca\u4e2d\u56fd\u653f\u6cbb\u4f53\u5236\u3002\u4e2d\u56fd\u5f88\u591a\u884c\u4e1a\u90fd\u8fd8\u662f\u88ab\u56fd\u4f01\u5784\u65ad\uff0c\u8bf8\u5982\u77f3\u6cb9\u3001\u7535\u4fe1\u3001\u94f6\u884c\u7b49\u3002<\/p>\n

\u636e\u6089\uff0c\u6469\u6839\u5927\u901a\u4e5f\u5df2\u8058\u8bf7\u7ebd\u7ea6\u5b9d\u7ef4\u65af\u5f8b\u5e08\u4e8b\u52a1\u6240\uff08Paul, Weiss, Rifkind, Wharton & Garrison LLP\uff09\u5bf9\u5176\u9999\u6e2f\u5206\u884c\u7684\u62db\u8058\u60c5\u51b5\u8fdb\u884c\u5185\u90e8\u8c03\u67e5\u3002<\/span><\/span><\/div>\n

<\/div>\n
fullrss.net<\/a><\/div>\n<\/p>\n

\u672c\u6587\u7531\u81ea\u52a8\u805a\u5408\u7a0b\u5e8f\u53d6\u81ea\u7f51\u7edc\uff0c\u5185\u5bb9\u548c\u89c2\u70b9\u4e0d\u4ee3\u8868\u6570\u5b57\u65f6\u4ee3\u7acb\u573a<\/small><\/p>\n

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\n\u5899\u5916\u65b0\u95fb\u5b9e\u65f6\u66f4\u65b0 \u6b22\u8fce\u8ba2\u9605\u6570\u5b57\u65f6\u4ee3 <\/a><\/p>\n<\/form>\n","protected":false},"excerpt":{"rendered":"

\u534e\u76db\u987f \u2014 \u7f8e\u56fd\u653f\u5e9c\u6839\u636e\u8054\u90a6\u6cd5\u5f8b\u300a\u53cd\u6d77\u5916\u8150\u8d25\u6cd5\u300b(Foreign Corrupt Practices Act) \u5bf9\u6469\u6839\u5927\u901a\u96c7\u4f63\u4e2d\u56fd\u9ad8\u5b98\u5b50\u5973\u5c55\u5f00\u8c03\u67e5\u3002\u4f46\u662f\u89c2\u5bdf\u4eba\u58eb\u6307\u51fa\uff0c\u8fd9\u4e00\u884c\u52a8\u5176\u5b9e\u5df2\u7ecf\u662f\u9a6c\u540e\u70ae\uff0c\u56e0\u4e3a\u6700\u8fd1\u51e0\u5e74\uff0c\u4e2d\u5171\u592a\u5b50\u515a\u5bf9\u4e8e\u534e\u5c14\u8857\u6295\u8d44\u94f6\u884c\u6765\u8bf4\uff0c\u4ef7\u503c\u5df2\u7ecf\u5927\u5927\u7f29\u6c34\u3002\u5728\u5931\u53bb\u4e86\u534e\u5c14\u8857\u7684\u9752\u7750\u4e4b\u540e\uff0c\u4e2d\u5171\u9ad8\u5b98\u7684\u4e00\u4e9b\u5b50\u5973\u5f00\u59cb\u72ec\u8f9f\u8e4a\u5f84\uff0c\u56de\u4e2d\u56fd\uff0c\u5c24\u5176\u662f\u9999\u6e2f\uff0c\u6253\u9020\u81ea\u5df1\u7684\u91d1\u878d\u5e1d\u56fd\u3002 \u548c\u5f20\u66e6\u66e6\u548c\u5510\u6653\u5b81\u4e00\u6837\uff0c\u5f88\u591a\u201c\u592a\u5b50\u515a\u201d\u90fd\u5df2\u7ecf\u79bb\u5f00\u4e86\u534e\u5c14\u8857\u94f6\u884c\uff0c\u8f6c\u800c\u6d89\u8db3\u79c1\u52df\u57fa\u91d1\u3002\u4f8b\u5982\uff0c\u524d\u56fd\u5bb6\u603b\u7406\u6e29\u5bb6\u5b9d\u7684\u513f\u5b50\u6e29\u4e91\u677e\u57282005\u5e74\u521b\u7acb\u4e86\u65b0\u5929\u57df\u8d44\u672c\u516c\u53f8 (New Horizon Capital)\u3002\u6839\u636e\u82f1\u56fd\u300a\u91d1\u878d\u65f6\u62a5\u300b\u62a5\u9053\uff0c\u8fd9\u5bb6\u516c\u53f8\u7ba1\u7406\u7740\u6570\u5341\u4ebf\u7f8e\u5143\u7684\u8d44\u91d1\uff0c\u6295\u8d44\u65b9\u5305\u62ec\u4e86\u5fb7\u610f\u5fd7\u94f6\u884c (Deutsche Bank)\u3001\u6469\u6839\u5927\u901a (JPMorgan Chase & Co.)\u3001\u4ee5\u53ca\u745e\u94f6 (UBS) \u7b49\u3002\u800c\u524d\u653f\u6cbb\u5c40\u5e38\u59d4\u674e\u745e\u73af\u7684\u513f\u5b50\u674e\u632f\u798f\u4e5f\u521b\u7acb\u4e86\u5fb7\u798f\u8d44\u672c (GL Capital Group) \u5e76\u62c5\u4efb\u9996\u5e2d\u6267\u884c\u5b98\u3002 \u9884\u671f\u6700\u65e9\u4eca\u5e74\u4e0a\u5e02\u7684\u963f\u91cc\u5df4\u5df4\u662f\u4e2d\u56fd\u6700\u5927\u7684\u7535\u5b50\u5546\u52a1\u516c\u53f8\uff0c\u53bb\u5e74\u5305\u62ec\u535a\u88d5\u8d44\u672c (Boyu Capital)\u3001\u4e2d\u56fd\u6295\u8d44\u6709\u9650\u8d23\u4efb\u516c\u53f8 (China Investment Corp.)\u3001 \u4e2d\u4fe1\u8d44\u672c (CITIC Capital)\u3001\u56fd\u5bb6\u5f00\u53d1\u94f6\u884c (China Development Bank) \u5728\u5185\u7684\u6295\u8d44\u8005\u6536\u8d2d\u4e86\u963f\u91cc\u5df4\u5df4\u96c6\u56e25.6\uff05\u7684\u80a1\u4efd\u3002\u524d\u56fd\u5bb6\u4e3b\u5e2d\u6c5f\u6cfd\u6c11\u7684\u5b59\u5b50\u6c5f\u5fd7\u6210\u6b63\u662f\u535a\u88d5\u8d44\u672c\u7684\u5408\u4f19\u4eba\u4e4b\u4e00\uff0c1986\u5e74\u51fa\u751f\u7684\u6c5f\u5fd7\u6210\u6bd5\u4e1a\u4e8e\u54c8\u4f5b\u5927\u5b66\u7ecf\u6d4e\u7cfb\u3002\u535a\u88d5\u8d44\u672c\u57282010\u5e74\u6ce8\u518c\uff0c\u9884\u8ba1\u5c06\u57282013\u5e74\u665a\u4e9b\u65f6\u5019\u63a8\u51fa\u7b2c\u4e8c\u671f\u57fa\u91d1\uff0c\u7b79\u8d44\u76ee\u6807\u662f15\u4ebf\u7f8e\u5143\u3002 \u5305\u62ec\u6c5f\u5fd7\u6210\u5728\u5185\uff0c\u5f88\u591a\u201c\u592a\u5b50\u515a\u201d\u90fd\u6bd5\u4e1a\u4e8e\u7f8e\u56fd\u6216\u6b27\u6d32\u540d\u6821\uff0c\u4f8b\u5982\uff0c\u6e29\u4e91\u677e\u662f\u7f8e\u56fd\u897f\u5317\u5927\u5b66\u51ef\u6d1b\u7ba1\u7406\u5b66\u9662 (Kellogg School of Management) \u7684\u5de5\u5546\u7ba1\u7406\u7855\u58eb\u3001\u674e\u632f\u798f\u66fe\u5728\u7f8e\u56fd\u829d\u52a0\u54e5\u5927\u5b66\u8bfb\u5de5\u5546\u7ba1\u7406\uff0c\u4f46\u662f\u7ae0\u5bb6\u6566 (Gordon Chang) \u8ba4\u4e3a\u4ed6\u4eec\u4e5f\u4ece\u5bb6\u5ead\u5173\u7cfb\u4e2d\u53d7\u60e0\u3002\u4ed6\u8bf4\uff1a\u201c\u8fd9\u4e9b\u2018\u592a\u5b50\u515a\u2019\u5f00\u59cb\u6210\u7acb\u81ea\u5df1\u7684\u516c\u53f8\uff0c\u5e76\u5229\u7528\u4ed6\u4eec\u7684\u5173\u7cfb\uff0c\u5305\u62ec\u4ed6\u4eec\u7684\u7236\u6bcd\u4ee5\u53ca\u7236\u6bcd\u7684\u670b\u53cb\u7b49\u5173\u7cfb\uff0c\u5728\u4f53\u5236\u4e2d\u83b7\u76ca\u3002\u4e2d\u56fd\u653f\u6cbb\u4f53\u5236\u7684\u672c\u8d28\u5c31\u662f\u8981\u9760\u5173\u7cfb\uff0c\u4f60\u8ba4\u8bc6\u4ec0\u4e48\u4eba\uff0c\u800c\u4e0d\u662f\u4e3b\u8981\u9760\u4f60\u7684\u80fd\u529b\u3002\u201d \u9664\u4e86\u81ea\u521b\u79c1\u52df\u57fa\u91d1\u5916\uff0c\u5f88\u591a\u201c\u592a\u5b50\u515a\u201d\u4e5f\u4efb\u804c\u4e8e\u56fd\u4f01\u53c2\u4e0e\u7684\u91d1\u878d\u673a\u6784\u3002\u7ebd\u7ea6\u57ce\u5e02\u5927\u5b66 (The City University of New York) \u653f\u6cbb\u5b66 (Political Science and Global Affairs) \u6559\u6388\u590f\u660e (Ming Xia) \u8bf4\uff1a\u201c\u4e2d\u56fd\u7ba1\u7406\u8d44\u672c\u7684\u4f53\u7cfb\u662f\u4e00\u4e2a\u9ad8\u5ea6\u4e2d\u592e\u96c6\u6743\u5316\u7684\u4f53\u7cfb\u3002\u9ad8\u5e72\u7684\u5b50\u5973\u6293\u7d27\u4e86\u975e\u5e38\u597d\u7684\u4e00\u4e2a\u673a\u4f1a\uff0c\u4ed6\u4eec\u88ab\u897f\u65b9\u56fd\u5bb6\u96c7\u7528\u540e\uff0c\u79ef\u7d2f\u4e86\u5728\u6295\u884c\u7684\u7ecf\u9a8c\u540e\uff0c\u6b63\u597d\u4e2d\u56fd\u51fa\u73b0\u4e86\u5927\u91cf\u7684\u8fc7\u5269\u8d44\u672c\u3002\u8fd9\u8868\u73b0\u5728\u4e2d\u56fd\u7684\u5916\u6c47\u50a8\u5907\u8fbe\u5230\u4e09\u4e07\u4ebf\uff0c\u4e2d\u56fd\u7684\u5916\u6c47\u50a8\u5907\u4ee5\u53ca\u4e2d\u56fd\u5728\u7f8e\u56fd\u4e70\u7684\u56fd\u503a\u7b49\u90fd\u9700\u8981\u5927\u91cf\u7684\u4eba\u6765\u7ba1\u7406\uff0c\u6240\u4ee5\u6210\u7acb\u4e86\u4e2d\u91d1\u516c\u53f8\u7b49\u6765\u7ba1\u7406\u8fd9\u4e9b\u8d44\u4ea7\u3002\u201d \u4e2d\u56fd\u56fd\u9645\u91d1\u878d\u6709\u9650\u516c\u53f8 (China International Capital Corporation Limited.) \uff0c\u7b80\u79f0\u4e2d\u91d1\u516c\u53f8 (CICC)\uff0c\u6210\u7acb\u4e8e1995\u5e747\u6708\uff0c\u662f\u4e2d\u56fd\u7b2c\u4e00\u5bb6\u5408\u8d44\u6295\u884c\uff0c\u6ce8\u518c\u8d44\u672c\u662f2.25\u4ebf\u7f8e\u5143\u3002\u4e2d\u91d1\u516c\u53f8\u7684\u9996\u4e2a\u5927\u578b\u9879\u76ee\u662f\u4e2d\u56fd\u7535\u4fe1\uff08\u9999\u6e2f\uff09\uff08\u73b0\u4e2d\u56fd\u79fb\u52a8\uff0942\u4ebf\u7f8e\u5143\u7684\u6d77\u5916\u9996\u6b21\u516c\u5f00\u53d1\u884c\u30022004\u5e74\uff0c\u524d\u603b\u7406\u6731\u9394\u57fa\u7684\u957f\u5b50\u6731\u4e91\u6765\u51fa\u4efb\u4e2d\u91d1\u516c\u53f8\u7684\u9996\u5e2d\u6267\u884c\u5b98\u3002 \u6b64\u5916\uff0c\u524d\u4eba\u5927\u59d4\u5458\u957f\u5434\u90a6\u56fd\u7684\u5973\u5a7f\u51af\u7ecd\u4e1c\u4ee5\u53ca\u73b0\u4efb\u653f\u6cbb\u5c40\u5e38\u59d4\u5218\u4e91\u5c71\u7684\u513f\u5b50\u5218\u4e50\u98de\u4e5f\u5206\u522b\u62c5\u4efb\u4e2d\u5e7f\u6838\u4ea7\u4e1a\u6295\u8d44\u57fa\u91d1\u603b\u88c1\u548c\u4e2d\u4fe1\u4ea7\u4e1a\u57fa\u91d1\u7684\u8463\u4e8b\u957f\u517c\u9996\u5e2d\u6267\u884c\u5b98\u3002 \u5bf9\u4e8e\u5982\u4f55\u7ba1\u7406\u4e2d\u56fd\u7684\u5916\u6c47\u50a8\u5907\u7b49\u8d44\u4ea7\uff0c\u590f\u660e\u6559\u6388\u8ba4\u4e3a\uff1a\u201c\u663e\u7136\u4ed6\u4eec\u4e5f\u53ea\u80fd\u76f8\u4fe1\u81ea\u5df1\u7684\u5b50\u5973\uff0c\u6240\u4ee5\u8fd9\u6837\u7684\u8bdd\u5927\u91cf\u9ad8\u5e72\u5b50\u5973\u5c31\u5229\u7528\u8fd9\u4e2a\u673a\u4f1a\u5728\u63a8\u52a8\u548c\u5229\u7528\u4e2d\u56fd\u7ecf\u6d4e\u7684\u91d1\u878d\u5316\u548c\u8d27\u5e01\u5316\uff0c\u4e00\u65b9\u9762\u6765\u7ef4\u6301\u653f\u6743\u7684\u8fd0\u4f5c\uff0c\u53e6\u4e00\u65b9\u9762\u4e5f\u5728\u635e\u53d6\u81ea\u5df1\u7684\u79c1\u5229\u3002\u201d \u4e2d\u56fd\u6709\u8d8a\u6765\u8d8a\u591a\u7684\u56fd\u4f01\u6295\u884c\u548c\u57fa\u91d1\uff0c\u8fd9\u5bf9\u534e\u5c14\u8857\u6295\u884c\u5728\u4e2d\u56fd\u7684\u76c8\u5229\u6709\u4e00\u5b9a\u5f71\u54cd\u3002\u636e\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u62a5\u9053\uff0c\u4e2d\u56fd\u516c\u53f8\u652f\u4ed8\u7ed9\u534e\u5c14\u8857\u7684\u9996\u6b21\u516c\u5f00\u52df\u80a1 (Initial Public Offering) \u8d39\u7528\u5df2\u7ecf\u4ece2012\u5e74\u76846.52\u4ebf\u7f8e\u91d1\u964d\u4f4e\u52302013\u5e74\u540c\u671f\u76847, 700\u4e07\u7f8e\u91d1\u3002\u6ce2\u58eb\u987f\u54a8\u8be2\u516c\u53f8(Boston Consulting Group) \u7684\u8d44\u6df1\u5408\u4f19\u4eba\u517c\u8463\u4e8b\u603b\u7ecf\u7406\u9093\u4fca\u8c6a (Tjun Tang) \u4e5f\u8ba4\u4e3a\u4e2d\u56fd\u201c\u592a\u5b50\u515a\u201d\u5bf9\u4e8e\u534e\u5c14\u8857\u5df2\u7ecf\u6ca1\u6709\u90a3\u4e48\u5927\u7684\u4ef7\u503c\u4e86\u3002 \u53e6\u4e00\u65b9\u9762\uff0c\u4e2d\u56fd\u653f\u6cbb\u7684\u53d8\u52a8\u4e5f\u4f1a\u5bf9\u80a1\u5e02\u4ef7\u683c\u4ea7\u751f\u5f71\u54cd\u3002\u636e\u300a\u534e\u5c14\u8857\u65e5\u62a5\u300b\u62a5\u9053\uff0c\u5728\u8584\u7199\u6765\u4e8b\u4ef6\u53d1\u751f\u540e\uff0c\u4e2d\u56fd\u5149\u5927\u96c6\u56e2\u80a1\u7968\u7684\u6210\u4ea4\u91cf\u4e0b\u8dcc\u4e8610\uff05\uff0c\u8584\u7199\u6765\u7684\u54e5\u54e5\u8584\u7199\u6c38\u66fe\u4efb\u8be5\u96c6\u56e2\u7684\u526f\u4e3b\u5e2d\u3002\u8fd9\u6b21\u7f8e\u56fd\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a (The Securities and Exchange Commission) \u5bf9\u6469\u6839\u5927\u901a\u96c7\u7528\u4e24\u540d\u4e2d\u56fd\u653f\u754c\u9ad8\u5c42\u5b50\u5973\u7684\u8c03\u67e5\u4e5f\u4ee4\u6469\u6839\u5927\u901a\u7684\u80a1\u4ef7\u4e0b\u8dcc\u3002 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