{"version":"1.0","provider_name":"Fortune Insight","provider_url":"https:\/\/prime.fortuneinsight.com\/web","author_name":"\u83ef\u723e\u8857\u65e5\u5831\uff08\u514d\u8cbb\u8a66\u95b1\uff09","author_url":"https:\/\/prime.fortuneinsight.com\/web\/posts\/author\/wsj","title":"\u5f9e\u5169\u4f4d\u4e2d\u570b\u5275\u696d\u8005\u7684\u53bb\u7559\u770b\u4e2d\u570b\u79d1\u6280\u7e41\u69ae\u6642\u4ee3\u7684\u7d42\u7d50 - Fortune Insight","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\"><a href=\"https:\/\/prime.fortuneinsight.com\/web\/posts\/703339\">\u5f9e\u5169\u4f4d\u4e2d\u570b\u5275\u696d\u8005\u7684\u53bb\u7559\u770b\u4e2d\u570b\u79d1\u6280\u7e41\u69ae\u6642\u4ee3\u7684\u7d42\u7d50<\/a><\/blockquote>\n<script type='text\/javascript'>\n<!--\/\/--><![CDATA[\/\/><!--\n\t\t!function(c,d){\"use strict\";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var 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\u96a8\u8457\u7fd2\u8fd1\u5e73\u628a\u4ed6\u6240\u8aaa\u7684\u653e\u4efb\u81ea\u6d41\u7684\u8cc7\u672c\u4e3b\u7fa9\u7684\u5f0a\u75c5\u4f5c\u70ba\u6574\u6cbb\u76ee\u6a19\uff0c\u73fe\u5728\u7684\u74b0\u5883\u5df2\u7d93\u8b8a\u5f97\u4e0d\u518d\u53cb\u597d\u3002\u96d6\u7136\u7fd2\u8fd1\u5e73\u4ecd\u7136\u4e0d\u541d\u5c0d\u6230\u7565\u6027\u79d1\u6280\u90e8\u9580\u7d66\u4e88\u652f\u6301\uff0c\u4f46\u5df2\u5c07\u76e3\u7ba1\u77db\u982d\u6307\u5411\u4e86\u4e92\u806f\u7db2\u5de8\u982d\u7684\u300c\u58df\u65b7\u300d\u884c\u70ba\u53ca\u5176\u5c0d\u4e2d\u570b\u516c\u6c11\u5927\u91cf\u6578\u64da\u7684\u8655\u7406\u65b9\u5f0f\u3002 \u9019\u4e00\u8f49\u8b8a\u4f7f\u9019\u5169\u4f4d\u4f01\u696d\u5bb6\u8d70\u4e0a\u4e86\u4e0d\u540c\u7684\u9053\u8def\u3002\u5c0d\u73fe\u4eca\u74b0\u5883\u611f\u5230\u975e\u5e38\u5931\u671b\u7684Chang\u5df2\u79fb\u5c45\u7f8e\u570b\u3002\u6817\u6d69\u6d0b\u5247\u8a8d\u70ba\u9019\u4e00\u8b8a\u5316\u53ea\u662f\u4e2d\u570b\u7a69\u6b65\u4e0a\u5347\u8ecc\u9053\u4e0a\u7684\u4e00\u500b\u5c0f\u63d2\u66f2\uff0c\u4ed6\u8aaa\u81ea\u5df1\u5c07\u7559\u5728\u4e2d\u570b\uff0c\u7e7c\u7e8c\u64f4\u5927\u4ed6\u7684\u6700\u65b0\u79d1\u6280\u4e8b\u696d\u3002 \u5728\u6a5f\u6703\u6e1b\u5c11\u3001\u76e3\u7ba1\u7acb\u5834\u66f4\u8da8\u5f37\u786c\u548c\u7d93\u6fdf\u9670\u973e\u52a0\u6df1\u7684\u60c5\u6cc1\u4e0b\uff0c\u4ed6\u5011\u7684\u6c7a\u5b9a\u4ee3\u8868\u4e86\u4e2d\u570b\u4f01\u696d\u5bb6\u73fe\u5728\u9762\u81e8\u7684\u5341\u5b57\u8def\u53e3\u3002 \u6839\u64da\u6295\u8cc7\u8ffd\u8e64\u516c\u53f8Preqin\u7684\u6578\u64da\uff0c2021\u5e74\u5c08\u6ce8\u65bc\u5927\u4e2d\u83ef\u5340\u7684\u79c1\u52df\u80a1\u6b0a\u548c\u98a8\u6295\u57fa\u91d1\u6240\u7c4c\u8cc7\u91d1\u50c5\u70ba2017\u5e74\u5cf0\u503c\u7684\u4e00\u534a\u3002 \u4e00\u4e9b\u4f01\u696d\u5bb6\uff0c\u5c24\u5176\u662f\u90a3\u4e9b\u64c1\u6709\u5168\u7403\u7d93\u9a57\u548c\u4eba\u8108\u7684\u4f01\u696d\u5bb6\uff0c\u4e0d\u9858\u5728\u9019\u7a2e\u4e0d\u78ba\u5b9a\u6027\u4e0b\u6399\u624e\uff0c\u6b63\u5728\u96e2\u958b\u4e2d\u570b\u3002\u800c\u90a3\u4e9b\u7d93\u6b77\u904e\u4e4b\u524d\u4e2d\u570b\u653f\u7b56\u548c\u76ee\u6a19\u8d77\u4f0f\u7684\u4eba\uff0c\u4ecd\u7136\u8a8d\u70ba\u5b58\u5728\u5927\u91cf\u7684\u589e\u9577\u6f5b\u529b\u4ee5\u53ca\u6709\u7406\u7531\u7e7c\u7e8c\u7559\u5728\u570b\u5167\u3002 \u73fe\u5e7445\u6b72\u7684\u6817\u6d69\u6d0b\u9ad8\u5927\u7626\u524a\uff0c\u6574\u500b\u4eba\u770b\u4e0a\u53bb\u8b19\u548c\u5be1\u8a00\uff0c\u4ed6\u51fa\u751f\u5728\u6cb3\u5357\u7701\uff0c\u7236\u6bcd\u662f\u6559\u5e2b\u548c\u5de5\u4eba\uff0c\u5169\u4eba\u7684\u6708\u5de5\u8cc7\u7576\u6642\u52a0\u8d77\u4f86\u53ea\u6709\u4eba\u6c11\u5e6330\u5143\uff0c\u50c5\u76f8\u7576\u65bc\u5927\u7d043\u7f8e\u5143\u3002\u96a8\u8457\u4e2d\u570b\u7684\u7d93\u6fdf\u6539\u9769\u5275\u9020\u4e86\u65b0\u7684\u8ca1\u5bcc\uff0c\u6817\u6d69\u6d0b\u4e00\u5bb6\u5f9e\u4e00\u5ba4\u4f4f\u623f\u642c\u5165\u4e09\u5ba4\u4f4f\u623f\uff0c\u5f9e\u4e00\u500b\u6708\u5403\u4e00\u6b21\u8089\u8b8a\u6210\u4e86\u7d93\u5e38\u5403\u8089\u548c\u6d77\u9bae\u3002 \u6817\u6d69\u6d0b\u5728\u8457\u540d\u7684\u4e0a\u6d77\u4ea4\u901a\u5927\u5b78(Shanghai Jiaotong University)\u4e3b\u4fee\u4e86\u8a08\u7b97\u6a5f\u5de5\u7a0b\u3002\u4ed6\u66fe\u4e00\u5ea6\u8003\u616e\u5230\u570b\u5916\u8b80\u7814\u7a76\u751f\uff0c\u4f46\u6700\u7d42\u7559\u5728\u4e86\u4e2d\u570b\uff0c\u6210\u70ba\u4e00\u540d\u4f01\u696d\u5bb6\u3002\u4ed6\u5275\u8fa6\u7684\u7b2c\u4e00\u5bb6\u548c\u7b2c\u4e8c\u5bb6\u516c\u53f8\u90fd\u6210\u529f\u4e0a\u5e02\u4e86\uff0c\u4e00\u5bb6\u8d74\u9999\u6e2f\u4e0a\u5e02\uff0c\u53e6\u4e00\u5bb6\u5728\u4e0a\u6d77\u639b\u724c\uff1b\u9019\u5169\u5bb6\u516c\u53f8\u7684\u4e3b\u71df\u696d\u52d9\u662f\u88fd\u4f5c\u6559\u79d1\u66f8\u548c\u5b78\u7fd2\u6750\u6599\u3002 32\u6b72\u7684Chang\u66f4\u70ba\u6eab\u6587\u723e\u96c5\uff0c\u7fd2\u6163\u7528\u51b7\u975c\u7684\u908f\u8f2f\u4f86\u505a\u6c7a\u7b56\u3002Chang\u51fa\u751f\u65bc\u5167\u9678\u7701\u4efd\u5c71\u897f\u7684\u4e00\u500b\u5de5\u7a0b\u5e2b\u5bb6\u5ead\uff0c\u66fe\u901a\u904e\u5468\u672b\u8207\u5916\u570b\u7559\u5b78\u751f\u548c\u6559\u6388\u4e00\u8d77\u5916\u51fa\u7df4\u7fd2\u81ea\u5df1\u7684\u82f1\u8a9e\u3002 Chang\u5728\u7576\u5730\u5831\u7d19\u4e0a\u8b80\u5230\u4e86\u95dc\u65bc\u4e00\u540d\u5728\u7f8e\u570b\u4e0a\u5927\u5b78\u7684\u5c71\u897f\u5b78\u751f\u7c21\u4ecb\u5f8c\uff0c\u8aaa\u670d\u4e86\u7236\u6bcd\u652f\u6301\u4ed6\u8d70\u9019\u6a23\u4e00\u689d\u975e\u5e38\u898f\u7684\u9053\u8def\uff0c\u4e26\u7372\u5f97\u4ee5\u5168\u984d\u734e\u5b78\u91d1\u5165\u8b80\u8036\u9b6f\u5927\u5b78(Yale University)\u7684\u540d\u984d\u3002\u53d6\u5f97\u7d93\u6fdf\u5b78\u5b78\u4f4d\u5f8c\uff0c\u4ed6\u9078\u64c7\u4e86\u9ea5\u80af\u932b(McKinsey &amp; Co.)\u5728\u4e0a\u6d77\u7684\u4e00\u4efd\u5de5\u4f5c\uff0c\u800c\u6c92\u6709\u9078\u64c7\u7d10\u7d04\u7684\u591a\u500b\u5de5\u4f5c\u6a5f\u6703\uff0c\u8b93\u4eba\u773c\u82b1\u7e5a\u4e82\u7684\u773e\u591a\u6a5f\u9047\u5438\u5f15\u4ed6\u56de\u5230\u7956\u570b\u3002 Chang\u9084\u5728\u9ea5\u80af\u932b\u5de5\u4f5c\u7684\u6642\u5019\uff0c\u5c31\u8207\u8036\u9b6f\u5927\u5b78\u7684\u4e00\u4f4d\u6821\u53cb\u4e00\u540c\u5275\u8fa6\u4e86\u4ed6\u7684\u7b2c\u4e00\u5bb6\u4f01\u696d\u5e38\u6625\u85e4\u5b78\u6821(Ivy Path)\u3002\u8207\u6817\u6d69\u6d0b\u7684\u516c\u53f8\u4e00\u6a23\uff0c\u5e38\u6625\u85e4\u5b78\u6821\u4e5f\u5c6c\u65bc\u88dc\u6559\u9818\u57df\uff0c\u5e6b\u52a9\u4e2d\u570b\u5b78\u751f\u7533\u8acb\u897f\u65b9\u7684\u5927\u5b78\u3002\u8a72\u516c\u53f8\u5275\u7acb\u5f8c\u982d\u516d\u500b\u6708\u7684\u6536\u5165\u8d85\u904e100\u842c\u7f8e\u5143\u3002 \u90a3\u6642\uff0c\u79d1\u6280\u884c\u696d\u5df2\u7d93\u6210\u70ba\u4e2d\u570b\u4e00\u80a1\u5168\u9762\u5d1b\u8d77\u7684\u529b\u91cf\u3002\u767e\u5ea6(Baidu.com Inc., BIDU, 9888.HK)\u3001\u963f\u91cc\u5df4\u5df4\u96c6\u5718\u63a7\u80a1\u6709\u9650\u516c\u53f8(Alibaba Group Holding Limited, 9988.HK, BABA, \u7c21\u7a31\uff1a\u963f\u91cc\u5df4\u5df4)\u548c\u9a30\u8a0a\u63a7\u80a1\u6709\u9650\u516c\u53f8(Tencent Holdings Ltd., 0700.HK, TCEHY, \u7c21\u7a31\ufe55\u9a30\u8a0a)\u7576\u6642\u662f\u4e2d\u570b\u4e92\u806f\u7db2\u884c\u696d\u7684\u4e09\u5de8\u982d\uff0c\u5f15\u9818\u4e86\u4e00\u6ce2\u79fb\u52d5\u6280\u8853\u5275\u65b0\u6d6a\u6f6e\u3002 \u5728\u7fd2\u8fd1\u5e73\u7b2c\u4e00\u500b\u4efb\u671f\uff0c\u5f9e2013\u5e74\u52302018\u5e74\uff0c\u4e2d\u570b\u7684\u79fb\u52d5\u4e92\u806f\u7db2\u7528\u6236\u6578\u91cf\u5e7e\u4e4e\u7ffb\u4e86\u4e00\u756a\u3002\u963f\u91cc\u5df4\u5df4\u4e00\u5e74\u4e00\u5ea6\u7684\u300c\u96d9\u5341\u4e00\u300d\u8cfc\u7269\u7bc0\u8d85\u8d8a\u4e86\u9ed1\u8272\u661f\u671f\u4e94(Black Friday)\u6210\u70ba\u5168\u7403\u6700\u5927\u7684\u5728\u7dda\u8cfc\u7269\u6d3b\u52d5\u3002\u9a30\u8a0a\u7121\u6240\u4e0d\u80fd\u7684\u61c9\u7528\u5fae\u4fe1\u7a4d\u7d2f\u4e8610\u5104\u7528\u6236\u3002 \u6817\u6d69\u6d0b\u88ab\u9019\u7a2e\u8208\u596e\u6240\u611f\u67d3\uff0c\u8207\u89aa\u621a\u5171\u540c\u5275\u7acb\u4e86\u4e00\u5bb6\u624b\u6e38\u516c\u53f8\u3002\u9019\u5bb6\u516c\u53f8\u5f88\u5feb\u5c31\u5012\u9589\u4e86\uff0c\u5f8c\u4f86\u4ed6\u53c8\u5efa\u7acb\u4e86\u4e00\u5bb6\u793e\u4ea4\u5a92\u9ad4\u521d\u5275\u516c\u53f8\uff0c\u8981\u8207\u5fae\u4fe1\u7af6\u722d\u3002\u4ed6\u8aaa\uff0c\u8a72\u516c\u53f8\u5438\u5f15\u4e86\u5927\u578b\u79d1\u6280\u6295\u8cc7\u8005\u7684\u8cc7\u91d1\uff0c\u4f46\u4e5f\u5f88\u5feb\u5728\u7af6\u722d\u4e2d\u88ab\u64ca\u57ae\u4e86\u3002 Chang\u4e5f\u628a\u696d\u52d9\u91cd\u5fc3\u8f49\u5411\u4e86\u79d1\u6280\u6295\u8cc7\u3002\u4ed6\u8207\u5408\u5925\u4eba\u6295\u8cc7\u65bc\u4e00\u7cfb\u5217\u521d\u5275\u4f01\u696d\uff0c\u5305\u62ec\u5f8c\u4f86\u6210\u9577\u70ba\u6253\u8eca\u5de8\u982d\u6ef4\u6ef4(Didi Global Inc., DIDI)\u7684\u516c\u53f8\u3002 [&hellip;]"}