{"id":794,"date":"2024-08-05T16:58:49","date_gmt":"2024-08-05T08:58:49","guid":{"rendered":"https:\/\/blog.alltick.co\/?p=794"},"modified":"2025-04-23T16:32:13","modified_gmt":"2025-04-23T08:32:13","slug":"what-are-cfds","status":"publish","type":"post","link":"https:\/\/blog.alltick.co\/zh-CN\/what-are-cfds\/","title":{"rendered":"\u4ec0\u4e48\u662fCFD\u5dee\u4ef7\u5408\u7ea6"},"content":{"rendered":"\n<p><strong>\u5dee\u4ef7\u5408\u7ea6\uff08CFD\uff0cContract for Difference\uff09<\/strong>\u662f\u4e00\u79cd\u884d\u751f\u91d1\u878d\u5de5\u5177\uff0c\u5b83\u901a\u5e38\u662f\u7531CFD\u5e73\u53f0\u5c06\u4e70\u5356\u53cc\u65b9<strong><a href=\"https:\/\/blog.alltick.co\/order-matching-engine\/\">\u64ae\u5408<\/a><\/strong>\u8d77\u6765\uff0c\u5f62\u6210\u4e00\u5f20\u5bf9\u8d4c\u5408\u7ea6\u3002\u6bd4\u5982\u4f60\u8ba4\u4e3a\u9ec4\u91d1\u63a5\u4e0b\u6765\u8981\u5927\u6da8\uff0c\u4f60\u53ef\u4ee5\u4e70\u5165\u9ec4\u91d1CFD\uff0c\u800cCFD\u5e73\u53f0\u4f1a\u5c06\u770b\u7a7a\u9ec4\u91d1\u7684\u4eba\u548c\u4f60\u5339\u914d\u8d77\u6765\uff0c\u6210\u4e3a\u4f60\u7684\u5bf9\u624b\u76d8\u3002\u5982\u679c\u9ec4\u91d1\u4ef7\u683c\u771f\u7684\u6da8\u4e86\uff0c\u4f60\u4f1a\u4ece\u4f60\u7684\u5bf9\u624b\u76d8\u8eab\u4e0a\u8d5a\u5230\u5229\u6da6\uff0c\u53cd\u4e4b\u5982\u679c\u9ec4\u91d1\u8dcc\u4e86\uff0c\u4f60\u7684\u94b1\u5c31\u8f93\u7ed9\u5bf9\u65b9\u3002CFD\u662f\u4e00\u573a\u8f93\u8d62\u5b8c\u5168\u5728\u4f60\u4eec\u53cc\u65b9\u4e4b\u95f4\u7684\u96f6\u548c\u535a\u5f08\u3002\u800cCFD\u5e73\u53f0\u5728\u8fd9\u4e2a\u8fc7\u7a0b\u4e2d\u66f4\u591a\u7684\u662f\u627f\u62c5\u8d77\u5339\u914d\u4ea4\u6613\u53cc\u65b9\u7684\u4efb\u52a1\u3002<\/p>\n\n\n\n<p>\u7531\u4e8e\u5dee\u4ef7\u5408\u7ea6\u662f\u7531<strong>\u5bf9\u540c\u4e00\u8d44\u4ea7\u6301\u6709\u5b8c\u5168\u76f8\u53cd\u5224\u65ad\u7684\u53cc\u65b9<\/strong>\u8ba2\u7acb\uff0c\u5bf9\u8d4c\u8d44\u4ea7\u4ef7\u683c\u672a\u6765\u7684\u6da8\u8dcc\uff0c\u5728\u8fd9\u4e2a\u8fc7\u7a0b\u4e2d\uff0c\u662f\u4e0d\u9700\u8981\u8d2d\u5165\u8d44\u4ea7\u7684\u3002\u4ec0\u4e48\u610f\u601d\u5462\uff0c\u5c31\u662f\u4e70\u5356\u53cc\u65b9\u5bf9\u8d4c\u9ec4\u91d1\u4ef7\u683c\u7684\u6da8\u8dcc\uff0c\u5408\u7ea6\u5230\u671f\u540e\uff0c\u8d4c\u5bf9\u7684\u4eba\u62ff\u94b1\u79bb\u573a\uff0c\u8d4c\u9519\u7684\u4eba\u613f\u8d4c\u670d\u8f93\uff0c\u5408\u7ea6\u7ec8\u6b62\u3002\u800c\u8fd9\u4e2a\u8fc7\u7a0b\u4e2d\u5b8c\u5168\u4e0d\u9700\u8981\u771f\u5b9e\u5730\u53bb\u4e70\u5165\u9ec4\u91d1\u8fd9\u9879\u8d44\u4ea7\u3002<\/p>\n\n\n\n<p>CFD\u662f\u4e00\u4e2a\u975e\u5e38\u7075\u6d3b\u7684\u91d1\u878d\u5de5\u5177\uff0c\u5c24\u5176\u5bf9\u77ed\u671f\u73a9\u5bb6\u6765\u8bf4\u975e\u5e38\u6709\u5229\uff0c\u65e2\u53ef\u4ee5\u505a\u591a\uff0c\u53c8\u53ef\u4ee5\u505a\u7a7a\uff0c\u800c\u4e14\u8fd8\u80fd\u914d\u5408\u6760\u6746\uff0c\u4ee5\u5c0f\u535a\u5927\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e8c\u3001\u5dee\u4ef7\u5408\u7ea6\u53ef\u4ee5\u4ea4\u6613\u54ea\u4e9b\u8d44\u4ea7\uff1f<\/strong><\/h2>\n\n\n\n<p>\u6b63\u5982\u524d\u9762\u8bf4\u7684\uff0cCFD\u5e76\u4e0d\u9700\u8981\u5b9e\u9645\u6301\u6709\u67d0\u4e00\u9879\u8d44\u4ea7\uff0c\u4ec5\u4ec5\u662f\u4e00\u7eb8\u5408\u7ea6\uff0c\u90a3\u4e48\u5b83\u53ef\u4ee5\u4ea4\u6613\u7684\u8d44\u4ea7\u5c31\u975e\u5e38\u591a\u4e86\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2.1 \u80a1\u7968CFD<\/strong><\/h4>\n\n\n\n<p>\u80a1\u7968CFD\u4ea4\u6613\u7684\u4e00\u4e2a\u4f18\u52bf\u662f\u53ef\u4ee5\u65b9\u4fbf\u5730\u505a\u591a\u6216\u505a\u7a7a\u7279\u5b9a\u516c\u53f8\u7684\u80a1\u7968\uff0c\u8fd9\u5728\u4f20\u7edf\u80a1\u7968\u4ea4\u6613\u4e2d\u662f\u8f83\u4e3a\u56f0\u96be\u7684\uff0c\u5c24\u5176\u5bf9\u4e8e\u56fd\u5185\u7528\u6237\u6765\u8bf4\u3002\u4e00\u822c\u6bd4\u8f83\u591a\u89c1\u7684\u662f<strong>\u7f8e\u80a1CFD\u3001\u6e2f\u80a1CFD<\/strong>\u3002\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u80a1\u7968CFD\u56e0\u4e3a\u6ca1\u6709\u5b9e\u9645\u4e70\u5165\u80a1\u7968\uff0c\u6240\u4ee5\u662f\u6ca1\u6709\u5206\u7ea2\u7684\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2.2 \u5916\u6c47CFD<\/strong><\/h4>\n\n\n\n<p>\u5916\u6c47\u5e02\u573a\u662f\u5168\u7403\u6700\u5927\u7684\u91d1\u878d\u5e02\u573a\u4e4b\u4e00\uff0c\u4ea4\u6613\u8005\u53ef\u4ee5\u901a\u8fc7\u5916\u6c47CFD\u53c2\u4e0e\u5176\u4e2d\u3002\u5916\u6c47CFD\u6d89\u53ca\u4e0d\u540c\u8d27\u5e01\u5bf9\u7684\u4ea4\u6613\uff0c\u4f8b\u5982\u6b27\u5143\u5151\u7f8e\u5143\uff08EUR\/USD\uff09\uff0c\u82f1\u9551\u5151\u65e5\u5143\uff08GBP\/JPY\uff09\u7b49\u3002\u5916\u6c47CFD\u4ea4\u6613\u5177\u6709\u9ad8\u5ea6\u7684\u6d41\u52a8\u6027\uff0c\u5e76\u5141\u8bb8\u4ea4\u6613\u8005\u5728\u5e02\u573a\u6ce2\u52a8\u4e2d\u6355\u6349\u673a\u4f1a\u3002\u901a\u8fc7CFD\uff0c\u4ea4\u6613\u8005\u53ef\u4ee5\u5229\u7528\u6760\u6746\u6765\u653e\u5927\u6295\u8d44\u56de\u62a5\uff0c\u4f46\u8fd9\u4e5f\u589e\u52a0\u4e86\u5e02\u573a\u6ce2\u52a8\u5e26\u6765\u7684\u98ce\u9669\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>2.3 \u52a0\u5bc6\u8d27\u5e01CFD<\/strong><\/h4>\n\n\n\n<p>\u53ef\u80fd\u4f60\u542c\u8bf4\u8fc7\u7092\u5e01\u5408\u7ea6\uff0c\u5b83\u7ecf\u5e38\u548c\u4e00\u591c\u66b4\u5bcc\u6216\u4e00\u591c\u7206\u201c\u8d1f\u201d\u8054\u7cfb\u5728\u4e00\u8d77\u3002\u7092\u5e01\u5408\u7ea6\u5176\u5b9e\u6307\u7684\u5c31\u662f\u52a0\u5bc6\u8d27\u5e01CFD\u3002\u60f3\u5fc5\u5927\u5bb6\u90fd\u77e5\u9053\u52a0\u5bc6\u8d27\u5e01\u7684\u6da8\u8dcc\u5e45\u5ea6\u6709\u591a\u5413\u4eba\uff0c\u518d\u7ed3\u5408CFD\u7684\u8d85\u9ad8\u6760\u6746\uff0c\u6536\u76ca\u53ef\u4ee5\u8bf4\u975e\u5e38\u9178\u723d\uff0c\u5e02\u573a\u4e0a\u751a\u81f3\u51fa\u73b0\u4e86500\u5757\u7092\u5230100\u4e07\u7684\u6210\u529f\u6848\u4f8b\uff0c\u9760\u7684\u5c31\u662fCFD\u7684\u9ad8\u6bd4\u4f8b\u6760\u6746\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e09\u3001CFD\u6760\u6746<\/strong><\/h2>\n\n\n\n<p><strong>CFD\u6760\u6746<\/strong>\u662f\u5dee\u4ef7\u5408\u7ea6\u4ea4\u6613\u4e2d\u7684\u4e00\u4e2a\u91cd\u8981\u7279\u6027\uff0c\u5b83\u5141\u8bb8\u4ea4\u6613\u8005\u7528\u8f83\u5c11\u7684\u8d44\u91d1\u63a7\u5236\u66f4\u5927\u91d1\u989d\u7684\u4ea4\u6613\u5934\u5bf8\u3002\u6760\u6746\u4f7f\u5f97\u6295\u8d44\u8005\u53ef\u4ee5\u653e\u5927\u5176\u5e02\u573a\u655e\u53e3\uff0c\u4ece\u800c\u6709\u53ef\u80fd\u5728\u8f83\u5c0f\u7684\u4ef7\u683c\u53d8\u52a8\u4e2d\u5b9e\u73b0\u8f83\u9ad8\u7684\u6536\u76ca\u3002\u7136\u800c\uff0c\u6760\u6746\u5728\u653e\u5927\u6536\u76ca\u7684\u540c\u65f6\u4e5f\u653e\u5927\u4e86\u98ce\u9669\uff0c\u4ef7\u683c\u4e0a\u7684\u5fae\u5c0f\u8dcc\u5e45\u90fd\u53ef\u80fd\u5bfc\u81f4\u4f60\u7684\u672c\u91d1\u6e05\u96f6\u3002<\/p>\n\n\n\n<p>\u5728CFD\u4ea4\u6613\u4e2d\uff0c\u6760\u6746\u6bd4\u4f8b\u56e0\u5e73\u53f0\u548c\u5e02\u573a\u6761\u4ef6\u7684\u4e0d\u540c\u800c\u6709\u6240\u53d8\u5316\u3002\u5927\u591a\u6570CFD\u4ea4\u6613\u5e73\u53f0\u63d0\u4f9b\u591a\u79cd\u6760\u6746\u9009\u9879\uff0c\u4ee5\u6ee1\u8db3\u4e0d\u540c\u4ea4\u6613\u8005\u7684\u9700\u6c42\u3002\u5728\u5916\u6c47\u5e02\u573a\u4e2d\uff0c\u6760\u6746\u901a\u5e38\u8f83\u9ad8\uff0c\u5e38\u89c1\u7684\u6760\u6746\u6bd4\u4f8b\u53ef\u4ee5\u8fbe\u523030:1\u751a\u81f3100:1\u3002\u800c\u5728\u80a1\u7968CFD\u4e2d\uff0c\u6760\u6746\u6bd4\u4f8b\u53ef\u80fd\u8f83\u4f4e\uff0c\u4e00\u822c\u4e3a5:1\u523020:1\u3002<\/p>\n\n\n\n<p>\u52a0\u5bc6\u8d27\u5e01CFD\u7531\u4e8e\u5176\u5e02\u573a\u7684\u9ad8\u6ce2\u52a8\u6027\uff0c\u901a\u5e38\u63d0\u4f9b\u7684\u6760\u6746\u8f83\u4f4e\uff0c\u4e00\u822c\u57282:1\u52305:1\u4e4b\u95f4\u3002\u8fd9\u662f\u4e3a\u4e86\u5e2e\u52a9\u4ea4\u6613\u8005\u63a7\u5236\u98ce\u9669\uff0c\u56e0\u4e3a\u52a0\u5bc6\u8d27\u5e01\u4ef7\u683c\u7684\u5267\u70c8\u6ce2\u52a8\u53ef\u80fd\u5e26\u6765\u66f4\u5927\u7684\u6f5c\u5728\u635f\u5931\u3002<\/p>\n\n\n\n<p>\u76d1\u7ba1\u8981\u6c42\u5bf9\u6760\u6746\u6bd4\u4f8b\u4e5f\u6709\u4e00\u5b9a\u5f71\u54cd\u3002\u4f8b\u5982\uff0c\u5728\u6b27\u6d32\uff0c\u6b27\u76df\u8bc1\u5238\u53ca\u5e02\u573a\u7ba1\u7406\u5c40\uff08ESMA\uff09\u5bf9\u96f6\u552e\u4ea4\u6613\u8005\u5b9e\u65bd\u4e86\u6760\u6746\u9650\u5236\uff0c\u5916\u6c47CFD\u7684\u6760\u6746\u4e0a\u9650\u4e3a30:1\uff0c\u800c\u52a0\u5bc6\u8d27\u5e01\u7684\u6760\u6746\u4e0a\u9650\u4e3a2:1\u3002\u8fd9\u4e9b\u89c4\u5b9a\u65e8\u5728\u4fdd\u62a4\u4ea4\u6613\u8005\u514d\u53d7\u8fc7\u5ea6\u6760\u6746\u5e26\u6765\u7684\u98ce\u9669\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u56db\u3001\u5dee\u4ef7\u5408\u7ea6\u7684\u4ea4\u6613\u8d39\u7528<\/strong><\/h2>\n\n\n\n<p>\u5728CFD\u4ea4\u6613\u4e2d\uff0c\u7531CFD\u5e73\u53f0\u64ae\u5408\u4e70\u5356\u53cc\u65b9\u3002\u5f88\u591a\u4eba\u8ba4\u4e3a\u4f60\u8d2d\u4e70\u4e86\u5dee\u4ef7\u5408\u7ea6\uff0c\u4f60\u7684\u5bf9\u624b\u662f\u5e73\u53f0\uff0c\u8fd9\u662f\u9519\u8bef\u7684\uff0c\u5e73\u53f0\u5e76\u4e0d\u4f1a\u548c\u4f60\u4ea4\u6613\uff0c\u800c\u662f\u5e2e\u4f60\u5bfb\u627e\u5bf9\u624b\u76d8\u3002\u8fd9\u5c31\u6709\u70b9\u50cfLOL\u7684\u5339\u914d\uff0c\u817e\u8baf\u5e76\u4e0d\u4f1a\u548c\u4f60\u73a9\uff0c\u5b83\u53ea\u662f\u5e2e\u4f60\u5bfb\u627e\u5bf9\u624b\u7ec4\u5c40\u7684\u7cfb\u7edf\u800c\u5df2\u3002<\/p>\n\n\n\n<p>\u5982\u679c\u4f60\u5bf9CFD\u4ea4\u6613\u6240\u662f\u5982\u4f55\u64ae\u5408\u4ea4\u6613\u7684\u8bdd\uff0c\u53ef\u4ee5\u770b\u770b\u8fd9\u7bc7\u6587\u7ae0\uff1a<strong><a href=\"https:\/\/blog.alltick.co\/order-matching-engine\/\">\u4e00\u6587\u8bfb\u61c2\u64ae\u5408\u5f15\u64ce<\/a><\/strong><\/p>\n\n\n\n<p>\u63a5\u4e0b\u6765\u6211\u4eec\u8bb2\u8bb2CFD\u5e73\u53f0\u7684\u4ea4\u6613\u8d39\u7528\u3002\u4eca\u5929\u5927\u90e8\u5206\u7684\u5e73\u53f0\u90fd\u662f\u9760\u70b9\u5dee\u548c\u8fc7\u591c\u8d39\u6765\u76c8\u5229\u7684\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\u70b9\u5dee<\/strong><\/h4>\n\n\n\n<p>\u70b9\u5dee\u662f\u6307\u4e70\u5165\u4ef7\u4e0e\u5356\u51fa\u4ef7\u4e4b\u95f4\u7684\u5dee\u989d\u3002\u901a\u5e38\uff0cCFD\u5e73\u53f0\u901a\u8fc7\u63d0\u4f9b\u7565\u9ad8\u4e8e\u5e02\u573a\u7684\u4e70\u5165\u4ef7\u548c\u7565\u4f4e\u4e8e\u5e02\u573a\u7684\u5356\u51fa\u4ef7\u6765\u5b9e\u73b0\u76c8\u5229\u3002\u8fd9\u79cd\u4ef7\u5dee\u5c31\u662f\u70b9\u5dee\uff0c\u901a\u5e38\u4ee5\u70b9\uff08pip\uff09\u4e3a\u5355\u4f4d\u8fdb\u884c\u6d4b\u91cf\u3002<\/p>\n\n\n\n<p>\u5047\u8bbe\u4f60\u5728\u4e00\u4e2aCFD\u4ea4\u6613\u5e73\u53f0\u4e0a\u4ea4\u6613\u6b27\u5143\/\u7f8e\u5143\uff08EUR\/USD\uff09\u8d27\u5e01\u5bf9\u3002\u5f53\u524d\u5e02\u573a\u4ef7\u4e3a1.1000\uff0c\u800c\u8be5\u5e73\u53f0\u63d0\u4f9b\u7684\u62a5\u4ef7\u4e3a\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4e70\u5165\u4ef7\uff08Ask\uff09\uff1a1.1002<\/li>\n\n\n\n<li>\u5356\u51fa\u4ef7\uff08Bid\uff09\uff1a1.0998<\/li>\n<\/ul>\n\n\n\n<p>\u8fd9\u91cc\u7684\u70b9\u5dee\u4e3a4\u4e2a\u70b9\uff08pips\uff09\uff0c\u5373\u4e70\u5165\u4ef71.1002\u4e0e\u5356\u51fa\u4ef71.0998\u4e4b\u95f4\u7684\u5dee\u989d\u3002\u5047\u8bbe\u4f60\u51b3\u5b9a\u4e70\u51651\u6807\u51c6\u624b\uff08100,000\u4e2a\u5355\u4f4d\uff09\u7684\u6b27\u5143\/\u7f8e\u5143\uff0c\u4f60\u5c06\u652f\u4ed8\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u521d\u59cb\u4e70\u5165\u6210\u672c\uff1a100,000 * 1.1002 = 110,020\u7f8e\u5143<\/li>\n\n\n\n<li>\u82e5\u5373\u523b\u5356\u51fa\uff0c\u6309\u7167\u5356\u51fa\u4ef7\u8ba1\u7b97\uff1a100,000 * 1.0998 = 109,980\u7f8e\u5143<\/li>\n\n\n\n<li>\u4ea4\u6613\u6210\u672c\uff08\u70b9\u5dee\u8d39\u7528\uff09\uff1a110,020\u7f8e\u5143 &#8211; 109,980\u7f8e\u5143 = 40\u7f8e\u5143<\/li>\n<\/ul>\n\n\n\n<p>\u56e0\u6b64\uff0c\u5f53\u4f60\u5f00\u4ed3\u65f6\uff0c\u70b9\u5dee\u8d39\u7528\u5373\u4e3a40\u7f8e\u5143\uff0c\u5373\u4ece\u4f60\u7684\u8d26\u6237\u4e2d\u6263\u9664\u3002<\/p>\n\n\n\n<p>\u4e0d\u540c\u8d44\u4ea7\u7684\u70b9\u5dee\u53ef\u80fd\u6709\u6240\u4e0d\u540c\u3002\u4f8b\u5982\uff0c\u5916\u6c47CFD\u7684\u70b9\u5dee\u901a\u5e38\u8f83\u4f4e\uff0c\u56e0\u4e3a\u5916\u6c47\u5e02\u573a\u6d41\u52a8\u6027\u8f83\u9ad8\uff0c\u800c\u80a1\u7968\u548c\u52a0\u5bc6\u8d27\u5e01CFD\u7684\u70b9\u5dee\u53ef\u80fd\u8f83\u9ad8\uff0c\u5c24\u5176\u662f\u5728\u5e02\u573a\u6ce2\u52a8\u6027\u8f83\u5927\u6216\u6d41\u52a8\u6027\u8f83\u4f4e\u65f6\u3002<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>\u8fc7\u591c\u8d39<\/strong><\/h4>\n\n\n\n<p>\u8fc7\u591c\u8d39\uff08\u4e5f\u79f0\u4e3a\u6301\u4ed3\u8d39\u6216\u9694\u591c\u5229\u606f\uff09\u662f\u6307\u6301\u6709CFD\u5934\u5bf8\u8fc7\u591c\u65f6\u4ea7\u751f\u7684\u8d39\u7528\u3002\u8fd9\u662f\u56e0\u4e3aCFD\u4ea4\u6613\u6d89\u53ca\u6760\u6746\uff0c\u5f53\u4ea4\u6613\u8005\u501f\u5165\u8d44\u91d1\u65f6\uff0c\u9700\u8981\u652f\u4ed8\u4e00\u5b9a\u7684\u5229\u606f\u3002\u8fc7\u591c\u8d39\u6839\u636e\u4ea4\u6613\u54c1\u79cd\u3001\u5934\u5bf8\u5927\u5c0f\u548c\u5e02\u573a\u5229\u7387\u7b49\u56e0\u7d20\u6765\u8ba1\u7b97\u3002<\/p>\n\n\n\n<p>\u8fc7\u591c\u8d39\u53ef\u4ee5\u662f\u6b63\u6570\u6216\u8d1f\u6570\uff0c\u53d6\u51b3\u4e8e\u4ea4\u6613\u8005\u662f\u505a\u591a\u8fd8\u662f\u505a\u7a7a\uff0c\u4ee5\u53ca\u76f8\u5173\u8d27\u5e01\u5bf9\u7684\u5229\u7387\u5dee\u5f02\u3002\u4f8b\u5982\uff0c\u5982\u679c\u4ea4\u6613\u8005\u6301\u6709\u4e00\u4e2a\u5229\u7387\u8f83\u9ad8\u7684\u8d27\u5e01\u5bf9\uff0c\u5219\u53ef\u80fd\u83b7\u5f97\u8fc7\u591c\u5229\u606f\uff0c\u800c\u6301\u6709\u4e00\u4e2a\u5229\u7387\u8f83\u4f4e\u7684\u8d27\u5e01\u5bf9\u5219\u53ef\u80fd\u9700\u8981\u652f\u4ed8\u8fc7\u591c\u8d39\u3002<\/p>\n\n\n\n<p>\u5047\u8bbe\u4f60\u6301\u6709\u4e00\u7b14\u6b27\u5143\/\u7f8e\u5143\u7684\u591a\u5934\uff08\u4e70\u5165\uff09\u5934\u5bf8\uff0c\u5e76\u51b3\u5b9a\u5c06\u5176\u6301\u4ed3\u8fc7\u591c\u3002\u5047\u8bbe\u4ee5\u4e0b\u6761\u4ef6\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u4ea4\u6613\u91cf\uff1a1\u6807\u51c6\u624b\uff08100,000\u4e2a\u5355\u4f4d\uff09<\/li>\n\n\n\n<li>\u6760\u6746\uff1a30:1<\/li>\n\n\n\n<li>\u8fc7\u591c\u5229\u7387\uff1a-0.01%\uff08\u8d1f\u6570\u8868\u793a\u9700\u8981\u652f\u4ed8\u8d39\u7528\uff09<\/li>\n<\/ul>\n\n\n\n<p>\u82e5\u6b27\u5143\/\u7f8e\u5143\u7684\u6c47\u7387\u4e3a1.1000\uff0c\u8fc7\u591c\u8d39\u7684\u8ba1\u7b97\u5982\u4e0b\uff1a<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li>\u8ba1\u7b97\u6301\u4ed3\u7684\u540d\u4e49\u4ef7\u503c\uff1a100,000 * 1.1000 = 110,000\u7f8e\u5143<\/li>\n\n\n\n<li>\u6839\u636e\u6760\u6746\u8ba1\u7b97\u5b9e\u9645\u8d44\u91d1\uff1a110,000 \/ 30 = 3,666.67\u7f8e\u5143<\/li>\n\n\n\n<li>\u8ba1\u7b97\u8fc7\u591c\u8d39\u7528\uff1a110,000 * -0.01% = -11\u7f8e\u5143<\/li>\n<\/ol>\n\n\n\n<p>\u56e0\u6b64\uff0c\u6bcf\u5929\u6301\u4ed3\u8fc7\u591c\u7684\u8d39\u7528\u4e3a11\u7f8e\u5143\u3002\u8fd9\u7b14\u8d39\u7528\u4f1a\u5728\u6bcf\u65e5\u6536\u76d8\u65f6\u4ece\u4f60\u7684\u8d26\u6237\u4e2d\u6263\u9664\uff0c\u76f4\u5230\u4f60\u5e73\u4ed3\u6216\u505c\u6b62\u6301\u6709\u8be5\u5934\u5bf8\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e94\u3001\u5dee\u4ef7\u5408\u7ea6\u662f\u671f\u6743\u5417\uff1f<\/strong><\/h2>\n\n\n\n<p>CFD\u548c\u671f\u6743\u90fd\u662f\u6bd4\u8f83\u91cd\u8981\u7684\u91d1\u878d\u884d\u751f\u5de5\u5177\uff0c\u4f46\u5b83\u4eec\u4e24\u8005\u7684\u7528\u9014\u662f\u4e0d\u4e00\u6837\u7684\uff0c\u4e8b\u5b9e\u4e0a\u671f\u6743\u8fdc\u8fdc\u6bd4CFD\u66f4\u590d\u6742\u3002<\/p>\n\n\n\n<p>\u5f53\u4f60\u4e70\u5165\u671f\u6743\u7684\u65f6\u5019\uff0c\u4f60\u4e70\u5165\u7684\u662f\u4e00\u4e2a\u672a\u6765\u7684<strong>\u9009\u62e9\u6743<\/strong>\uff0c\u5230\u671f\u4e4b\u540e\u4f60\u53ef\u4ee5\u9009\u62e9\u6267\u884c\uff0c\u4e5f\u53ef\u4ee5\u9009\u62e9\u4e0d\u6267\u884c\u3002\u5047\u8bbe\u73b0\u5728\u817e\u8baf\u80a1\u4ef7\u662f50\u6e2f\u5e01\u4e00\u80a1\uff0c\u4f60\u8d2d\u4e70\u4e86\u4e00\u5e74\u540e\u53ef\u4ee5\u4ee5120\u6e2f\u5e01\u6bcf\u80a1\u7684\u4ef7\u683c\u8d2d\u4e70\u6700\u591a\u4e00\u4e07\u80a1\u817e\u8baf\u80a1\u7968\u7684\u671f\u6743\uff0c\u4e00\u5e74\u5230\u671f\u540e\uff0c\u5982\u679c\u817e\u8baf\u7684\u80a1\u4ef7\u662f180\u6e2f\u5e01\u6bcf\u80a1\uff0c\u90a3\u4e48\u4f60\u53ef\u4ee5\u6267\u884c\u8fd9\u4e2a\u671f\u6743\uff0c\u54ea\u6015\u5e02\u573a\u4ef7\u662f180\uff0c\u4f60\u4e5f\u4e00\u6837\u53ef\u4ee5\u7528120\/\u80a1\u7684\u4ef7\u683c\u4ece\u671f\u6743\u53d1\u884c\u4eba\u90a3\u91cc\u8d2d\u4e70\u4e0d\u8d85\u8fc71\u4e07\u80a1\u7684\u817e\u8baf\u80a1\u7968\u3002\u800c\u5982\u679c\u5230\u671f\u65f6\u817e\u8baf\u7684\u80a1\u4ef7\u53ea\u670990\u5757\uff0c\u90a3\u4f60\u53ef\u4ee5\u4e0d\u6267\u884c\u8fd9\u4e2a\u671f\u6743\uff0c\u4f60\u4e8f\u635f\u7684\u662f\u5f53\u521d\u4e70\u5165\u671f\u6743\u652f\u4ed8\u7684\u8d39\u7528\u3002<\/p>\n\n\n\n<p>\u671f\u6743\u4e00\u822c\u88ab\u7528\u4e8e\u5bf9\u51b2\u6295\u8d44\u7ec4\u5408\u98ce\u9669\uff0c\u66f4\u50cf\u4e00\u4e2a\u98ce\u9669\u7ba1\u7406\u5de5\u5177\u3002\u800cCFD\u5219\u66f4\u4e3a\u6fc0\u8fdb\uff0c\u9002\u5408\u90a3\u4e9b\u503e\u5411\u4e8e\u76f4\u622a\u4e86\u5f53\u7684\u5e02\u573a\u64cd\u4f5c\uff0c\u613f\u610f\u627f\u62c5\u9ad8\u98ce\u9669\u4ee5\u8ffd\u6c42\u5feb\u901f\u56de\u62a5\u7684\u4ea4\u6613\u8005\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u516d\u3001CFD\u5408\u6cd5\u5417\uff1f<\/strong><\/h2>\n\n\n\n<p>\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0cCFD\u5e76\u4e0d\u662f\u5728\u6bcf\u4e00\u4e2a\u56fd\u5bb6\u90fd\u662f\u5408\u6cd5\u7684\u3002<strong>\u6bd4\u5982\u56fd\u5185\u5c31\u4e0d\u5141\u8bb8\u4ea4\u6613\u5dee\u4ef7\u5408\u7ea6<\/strong>\u3002CFD\u4ea4\u6613\u5e73\u53f0\u4e00\u822c\u4f1a\u6ce8\u518c\u5728\u90a3\u4e9b\u80fd\u591f\u5408\u6cd5\u4ea4\u6613CFD\u7684\u5730\u65b9\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><strong>\u6b27\u6d32<\/strong>\uff1a\u5728\u6b27\u6d32\uff0cCFD\u4ea4\u6613\u662f\u5408\u6cd5\u7684\uff0c\u5e76\u4e14\u53d7\u5230\u6b27\u76df\u8bc1\u5238\u53ca\u5e02\u573a\u7ba1\u7406\u5c40\uff08ESMA\uff09\u7684\u76d1\u7ba1\u3002ESMA\u5bf9CFD\u7684\u6760\u6746\u6bd4\u4f8b\u3001\u5e7f\u544a\u3001\u4ee5\u53ca\u4ea4\u6613\u8005\u4fdd\u62a4\u63aa\u65bd\u6709\u4e25\u683c\u7684\u89c4\u5b9a\uff0c\u4ee5\u4fdd\u62a4\u96f6\u552e\u6295\u8d44\u8005\u514d\u53d7\u8fc7\u5ea6\u98ce\u9669\u5f71\u54cd\u3002\u6b27\u6d32\u5927\u591a\u6570\u56fd\u5bb6\u9075\u5faaESMA\u7684\u89c4\u5b9a\uff0c\u5bf9CFD\u4ea4\u6613\u5b9e\u65bd\u7edf\u4e00\u7684\u76d1\u7ba1\u6807\u51c6\u3002<\/li>\n\n\n\n<li><strong>\u6fb3\u5927\u5229\u4e9a<\/strong>\uff1a\u6fb3\u5927\u5229\u4e9a\u8bc1\u5238\u548c\u6295\u8d44\u59d4\u5458\u4f1a\uff08ASIC\uff09\u76d1\u7ba1CFD\u5e02\u573a\uff0c\u5e76\u5bf9\u6760\u6746\u6bd4\u4f8b\u548c\u5ba2\u6237\u8d44\u91d1\u4fdd\u62a4\u8fdb\u884c\u89c4\u8303\u3002\u6fb3\u5927\u5229\u4e9a\u662f\u4e00\u4e2a\u5e7f\u53d7\u6b22\u8fce\u7684CFD\u4ea4\u6613\u5e02\u573a\uff0c\u4ee5\u5176\u76f8\u5bf9\u8f83\u9ad8\u7684\u6760\u6746\u548c\u5b8c\u5584\u7684\u76d1\u7ba1\u73af\u5883\u8457\u79f0\u3002<\/li>\n\n\n\n<li><strong>\u7f8e\u56fd<\/strong>\uff1aCFD\u4ea4\u6613\u662f\u975e\u6cd5\u7684\u3002\u7f8e\u56fd\u5546\u54c1\u671f\u8d27\u4ea4\u6613\u59d4\u5458\u4f1a\uff08CFTC\uff09\u548c\u8bc1\u5238\u4ea4\u6613\u59d4\u5458\u4f1a\uff08SEC\uff09\u7981\u6b62CFD\u4ea4\u6613\uff0c\u56e0\u4e3a\u5b83\u4eec\u8ba4\u4e3a\u8fd9\u79cd\u5de5\u5177\u4e0d\u7b26\u5408\u7f8e\u56fd\u7684\u91d1\u878d\u6cd5\u89c4\u548c\u6295\u8d44\u8005\u4fdd\u62a4\u6807\u51c6\u3002\u7f8e\u56fd\u6295\u8d44\u8005\u4e0d\u80fd\u901a\u8fc7\u7f8e\u56fd\u672c\u571f\u7ecf\u7eaa\u5546\u8fdb\u884cCFD\u4ea4\u6613\u3002<\/li>\n\n\n\n<li><strong>\u4e9a\u6d32<\/strong>\uff1a\u53ea\u6709\u9999\u6e2f\u548c\u65b0\u52a0\u5761\u662f\u5408\u6cd5\u7684\uff0c\u5e76\u4e14\u53d7\u5230\u4e25\u683c\u76d1\u7ba1\u3002<\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u4e03\u3001CFD\u7684\u4f18\u52a3\u52bf\u5bf9\u6bd4<\/strong><\/h2>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>\u4f18\u52bf<\/strong><\/h5>\n\n\n\n<p><strong>\u65e0\u9700\u5b9e\u9645\u6301\u6709\u8d44\u4ea7\uff0c\u4f4e\u6210\u672c\u8fdb\u5165\u5e02\u573a<\/strong><br>CFD\u7684\u6700\u5927\u7279\u70b9\u4e4b\u4e00\u662f\u53ea\u9700\u7b7e\u8ba2\u5408\u7ea6\uff0c\u800c\u65e0\u9700\u771f\u6b63\u8d2d\u4e70\u6807\u7684\u8d44\u4ea7\u3002\u8fd9\u5927\u5927\u964d\u4f4e\u4e86\u4ea4\u6613\u7684\u521d\u59cb\u6210\u672c\uff0c\u4f7f\u5f97\u666e\u901a\u6295\u8d44\u8005\u4e5f\u80fd\u8f7b\u677e\u53c2\u4e0e\u5168\u7403\u5e02\u573a\uff0c\u800c\u4e14\u8fd9\u5bf9\u8d44\u91d1\u6709\u9650\u7684\u6295\u8d44\u8005\u6765\u8bf4\u5341\u5206\u6709\u5229\u3002\u6bd4\u5982\uff0c\u8d2d\u4e70\u4e00\u53ea\u5b9e\u9645\u80a1\u7968\uff08\u6b63\u5e38\u9014\u5f84\uff09\u53ef\u80fd\u9700\u8981\u51e0\u5343\u7f8e\u5143\uff0c\u4f46\u901a\u8fc7CFD\uff0c\u53ea\u9700\u652f\u4ed8\u4fdd\u8bc1\u91d1\u5373\u53ef\u53c2\u4e0e\u3002<\/p>\n\n\n\n<p><strong>\u591a\u6837\u5316\u8d44\u4ea7\u9009\u62e9<\/strong><br>\u901a\u8fc7CFD\uff0c\u4ea4\u6613\u8005\u53ef\u4ee5\u63a5\u89e6\u5230\u5404\u7c7b\u8d44\u4ea7\uff0c\u5305\u62ec\u80a1\u7968\u3001\u5916\u6c47\u3001\u52a0\u5bc6\u8d27\u5e01\u3001\u5927\u5b97\u5546\u54c1\u7b49\uff0c\u63d0\u4f9b\u4e86\u6781\u5927\u7684\u6295\u8d44\u7075\u6d3b\u6027\u548c\u591a\u5143\u5316\u9009\u62e9\u3002\u65e0\u8bba\u4f60\u5bf9\u54ea\u4e2a\u5e02\u573a\u611f\u5174\u8da3\uff0c\u90fd\u53ef\u4ee5\u901a\u8fc7CFD\u627e\u5230\u9002\u5408\u7684\u4ea4\u6613\u54c1\u79cd\uff0c\u56e0\u4e3a\u4eca\u5929\u7684CFD\u5e02\u573a\u5df2\u7ecf\u76f8\u5f53\u6210\u719f\uff0c\u53ef\u9009\u62e9\u7684\u4ea7\u54c1\u81ea\u7136\u5c31\u591a\u4e86\u3002<\/p>\n\n\n\n<p><strong>\u7075\u6d3b\u6027\u9ad8\uff0c\u652f\u6301\u505a\u591a\u4e0e\u505a\u7a7a<\/strong><br>CFD\u4ea4\u6613\u6ca1\u6709\u65b9\u5411\u9650\u5236\uff0c\u80fd\u505a\u591a\u4e5f\u80fd\u505a\u7a7a\u3002\u867d\u7136\u8fd9\u5728\u56fd\u5916\u6210\u719f\u7684\u5e02\u573a\u5df2\u7ecf\u662f\u5f88\u57fa\u672c\u7684\u4e1c\u897f\uff0c\u4f46\u5bf9\u4e8e\u957f\u671f\u4ea4\u6613A\u80a1\u7684\u540c\u5b66\u6765\u8bf4\u8fd8\u662f\u5f88\u7a00\u5947\u7684\u3002\u5141\u8bb8\u505a\u591a\u505a\u7a7a\uff0c\u4e5f\u5c31\u662f\u8bf4\u65e2\u53ef\u4ee5\u901a\u8fc7\u770b\u6da8\u5e02\u573a\u83b7\u5229\uff0c\u4e5f\u53ef\u4ee5\u901a\u8fc7\u505a\u7a7a\u5e02\u573a\u5728\u4e0b\u8dcc\u4e2d\u8d5a\u53d6\u5229\u6da6\uff0c\u53ef\u64cd\u4f5c\u6027\u6781\u5f3a\uff01<\/p>\n\n\n\n<p><strong>\u6760\u6746\u6548\u5e94\uff0c\u4ee5\u5c0f\u535a\u5927<\/strong><br>CFD\u5141\u8bb8\u6295\u8d44\u8005\u901a\u8fc7\u6760\u6746\u63a7\u5236\u8fdc\u8d85\u81ea\u8eab\u8d44\u91d1\u7684\u5934\u5bf8\u3002\u4f8b\u5982\uff0c\u5229\u752830:1\u7684\u6760\u6746\uff0c\u4f60\u53ea\u9700\u8981\u652f\u4ed8\u4e00\u5343\u7f8e\u5143\u5c31\u80fd\u505a\u4e09\u4e07\u7f8e\u5143\u7684\u4ea4\u6613\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><\/li>\n<\/ol>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>\u52a3\u52bf<\/strong><\/h5>\n\n\n\n<p><strong>\u9ad8\u98ce\u9669\u6027\uff0c\u6760\u6746\u653e\u5927\u635f\u5931<\/strong><br>\u6760\u6746\u662f\u4e00\u628a\u53cc\u5203\u5251\uff0c\u867d\u7136\u80fd\u653e\u5927\u6536\u76ca\uff0c\u4f46\u4e5f\u53ef\u80fd\u4f7f\u635f\u5931\u52a0\u5267\u3002\u5728\u5e02\u573a\u6ce2\u52a8\u8f83\u5927\u7684\u60c5\u51b5\u4e0b\uff0c\u5c0f\u5e45\u4ef7\u683c\u6ce2\u52a8\u5c31\u53ef\u80fd\u5bfc\u81f4\u672c\u91d1\u5927\u5e45\u7f29\u6c34\uff0c\u751a\u81f3\u7206\u4ed3\u3002\u4e3a\u4ec0\u4e48\u5f88\u591a\u4eba\u8ba4\u4e3aCFD\u8d4c\u6027\u592a\u5f3a\uff0c\u53ef\u80fd\u5c31\u662f\u6760\u6746\u673a\u5236\u7684\u5b58\u5728\u3002<\/p>\n\n\n\n<p><strong>\u4ea4\u6613\u6210\u672c\u7d2f\u79ef<\/strong><br>CFD\u4ea4\u6613\u901a\u5e38\u6d89\u53ca\u70b9\u5dee\u548c\u8fc7\u591c\u8d39\u3002\u9891\u7e41\u4ea4\u6613\u6216\u957f\u671f\u6301\u4ed3\u4f1a\u5bfc\u81f4\u8fd9\u4e9b\u8d39\u7528\u9010\u6e10\u7d2f\u79ef\uff0c\u4ece\u800c\u4fb5\u8680\u76c8\u5229\u3002\u5c24\u5176\u662f\u9ad8\u6760\u6746\u4ea4\u6613\uff0c\u6301\u4ed3\u6210\u672c\u53ef\u80fd\u53d8\u5f97\u66f4\u52a0\u660e\u663e\u3002<\/p>\n\n\n\n<p><strong>\u6f5c\u5728\u7684\u6d41\u52a8\u6027\u98ce\u9669<\/strong><br>\u5c3d\u7ba1CFD\u5e73\u53f0\u5927\u591a\u63d0\u4f9b\u6d41\u52a8\u6027\u652f\u6301\uff0c\u4f46\u5728\u6781\u7aef\u5e02\u573a\u6761\u4ef6\u4e0b\uff0c\u6807\u7684\u8d44\u4ea7\u7684\u4ef7\u683c\u53ef\u80fd\u4f1a\u51fa\u73b0\u5927\u5e45\u8df3\u7a7a\u3002\u8fd9\u79cd\u60c5\u51b5\u4e0b\uff0c\u4ea4\u6613\u8005\u53ef\u80fd\u65e0\u6cd5\u6309\u7167\u9884\u671f\u4ef7\u683c\u5e73\u4ed3\uff0c\u5bfc\u81f4\u989d\u5916\u635f\u5931\u3002<\/p>\n\n\n\n<ol class=\"wp-block-list\">\n<li><\/li>\n<\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u516b\u3001CFD\u4e0e\u5176\u4ed6\u91d1\u878d\u5de5\u5177\u7684\u5bf9\u6bd4<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><\/td><td><strong>CFD<\/strong><\/td><td><strong>\u73b0\u8d27\u4ea4\u6613<\/strong><\/td><td><strong>\u671f\u8d27\u4ea4\u6613<\/strong><\/td><td><strong>\u671f\u6743\u4ea4\u6613<\/strong><\/td><td><strong>ETF<\/strong><\/td><\/tr><tr><td><strong>\u662f\u5426\u6301\u6709\u8d44\u4ea7<\/strong><\/td><td>\u4e0d\u6301\u6709\u5b9e\u7269\u8d44\u4ea7\uff0c\u4ec5\u57fa\u4e8e\u4ef7\u683c\u6ce2\u52a8\u4ea4\u6613\u3002<\/td><td>\u6301\u6709\u5b9e\u7269\u8d44\u4ea7\uff0c\u5982\u80a1\u7968\u3001\u9ec4\u91d1\u6216\u5546\u54c1\u73b0\u8d27\u3002<\/td><td>\u4e0d\u6301\u6709\u5b9e\u7269\u8d44\u4ea7\uff0c\u5408\u7ea6\u5230\u671f\u53ef\u9009\u62e9\u4ea4\u5272\u6216\u73b0\u91d1\u7ed3\u7b97\u3002<\/td><td>\u4e0d\u6301\u6709\u5b9e\u7269\u8d44\u4ea7\uff0c\u4e70\u5356\u7684\u662f\u884c\u4f7f\u6743\u5229\u7684\u5408\u7ea6\u3002<\/td><td>\u6301\u6709\u57fa\u91d1\u5355\u4f4d\uff0c\u95f4\u63a5\u6301\u6709\u4e00\u7bee\u5b50\u8d44\u4ea7\u3002<\/td><\/tr><tr><td><strong>\u5230\u671f\u65e5<\/strong><\/td><td>\u65e0\u56fa\u5b9a\u5230\u671f\u65e5\uff0c\u53ef\u7075\u6d3b\u6301\u4ed3\u3002<\/td><td>\u65e0\u5230\u671f\u65e5\uff0c\u53ef\u957f\u671f\u6301\u6709\u3002<\/td><td>\u6709\u660e\u786e\u7684\u5230\u671f\u65f6\u95f4\uff0c\u9700\u5728\u5230\u671f\u65e5\u5904\u7406\u5c55\u671f\u6216\u4ea4\u5272\u64cd\u4f5c\u3002<\/td><td>\u6709\u5230\u671f\u65e5\uff0c\u65f6\u95f4\u4ef7\u503c\u4f1a\u5f71\u54cd\u5b9a\u4ef7\u3002<\/td><td>\u65e0\u5230\u671f\u65e5\uff0c\u53ef\u957f\u671f\u6301\u6709\u3002<\/td><\/tr><tr><td><strong>\u7075\u6d3b\u6027<\/strong><\/td><td>\u9ad8\uff0c\u9002\u5408\u77ed\u7ebf\u4ea4\u6613\uff0c\u968f\u65f6\u5f00\u5e73\u4ed3\u3002<\/td><td>\u7075\u6d3b\u6027\u8f83\u4f4e\uff0c\u4ea4\u6613\u540e\u9700\u5904\u7406\u8d44\u4ea7\u4fdd\u7ba1\u548c\u7ba1\u7406\u3002<\/td><td>\u4e2d\u7b49\uff0c\u4ea4\u6613\u524d\u9700\u5173\u6ce8\u5408\u7ea6\u5230\u671f\u548c\u4fdd\u8bc1\u91d1\u53d8\u5316\u3002<\/td><td>\u89c6\u5408\u7ea6\u800c\u5b9a\uff0c\u4f46\u9700\u8003\u8651\u6ce2\u52a8\u7387\u3001\u5230\u671f\u65f6\u95f4\u7b49\u590d\u6742\u56e0\u7d20\u3002<\/td><td>\u4e2d\u7b49\uff0c\u4e3b\u8981\u8ddf\u968f\u5e02\u573a\u6307\u6570\u6ce2\u52a8\u3002<\/td><\/tr><tr><td><strong>\u98ce\u9669\u4e0e\u6210\u672c<\/strong><\/td><td>\u6760\u6746\u653e\u5927\u6536\u76ca\u548c\u98ce\u9669\uff0c\u53ef\u80fd\u4ea7\u751f\u8fc7\u591c\u8d39\u548c\u70b9\u5dee\u6210\u672c\u3002<\/td><td>\u98ce\u9669\u8f83\u4f4e\uff0c\u4f46\u9700\u652f\u4ed8\u5b9e\u7269\u4ea4\u5272\u3001\u7ba1\u7406\u548c\u5b58\u50a8\u8d39\u7528\u3002<\/td><td>\u6760\u6746\u4ea4\u6613\uff0c\u9700\u652f\u4ed8\u4fdd\u8bc1\u91d1\u53ca\u4ea4\u6613\u6240\u8d39\u7528\uff0c\u5c55\u671f\u6210\u672c\u9ad8\u3002<\/td><td>\u98ce\u9669\u8f83\u4f4e\uff0c\u652f\u4ed8\u6743\u5229\u91d1\u540e\u53ef\u9501\u5b9a\u6700\u5927\u635f\u5931\uff0c\u4f46\u6743\u5229\u91d1\u4e3a sunk cost\uff08\u6c89\u6ca1\u6210\u672c\uff09\u3002<\/td><td>\u98ce\u9669\u4f4e\uff0c\u65e0\u6760\u6746\uff0c\u9002\u5408\u957f\u671f\u6295\u8d44\uff0c\u4f46\u9700\u652f\u4ed8\u7ba1\u7406\u8d39\u3002<\/td><\/tr><tr><td><strong>\u4ea4\u6613\u76ee\u6807<\/strong><\/td><td>\u6355\u6349\u77ed\u671f\u5e02\u573a\u6ce2\u52a8\uff0c\u9002\u5408\u6295\u673a\u8005\u548c\u77ed\u7ebf\u4ea4\u6613\u8005\u3002<\/td><td>\u6301\u6709\u5b9e\u7269\u8d44\u4ea7\uff0c\u9002\u5408\u957f\u671f\u6295\u8d44\u8005\u548c\u8d44\u4ea7\u6536\u85cf\u8005\u3002<\/td><td>\u9002\u5408\u6355\u6349\u4e2d\u671f\u5e02\u573a\u8d70\u52bf\u548c\u5bf9\u51b2\u98ce\u9669\u3002<\/td><td>\u9002\u5408\u5728\u6ce2\u52a8\u8f83\u5927\u65f6\u9501\u5b9a\u4ef7\u683c\u6216\u5bf9\u51b2\u98ce\u9669\uff0c\u4e5f\u53ef\u7528\u4e8e\u9ad8\u6ce2\u52a8\u7387\u4e0b\u7684\u6295\u673a\u4ea4\u6613\u3002<\/td><td>\u8ffd\u8e2a\u5e02\u573a\u6307\u6570\u6216\u4e00\u7bee\u5b50\u8d44\u4ea7\uff0c\u9002\u5408\u5206\u6563\u6295\u8d44\u548c\u957f\u671f\u914d\u7f6e\u3002<\/td><\/tr><tr><td><strong>\u5176\u4ed6\u7279\u70b9<\/strong><\/td><td>\u64cd\u4f5c\u76f4\u89c2\uff0c\u65e0\u9700\u8003\u8651\u5b9e\u7269\u8d44\u4ea7\u7ba1\u7406\u3002<\/td><td>\u5bf9\u6295\u8d44\u8005\u7684\u7ba1\u7406\u80fd\u529b\u548c\u8d44\u91d1\u6d41\u52a8\u6027\u8981\u6c42\u8f83\u9ad8\u3002<\/td><td>\u6d89\u53ca\u590d\u6742\u5408\u7ea6\u6761\u6b3e\uff0c\u6295\u8d44\u8005\u9700\u719f\u6089\u5230\u671f\u4ea4\u5272\u6216\u5c55\u671f\u6d41\u7a0b\u3002<\/td><td>\u4ef7\u683c\u53d7\u65f6\u95f4\u4ef7\u503c\u548c\u6ce2\u52a8\u7387\u5f71\u54cd\uff0c\u9002\u5408\u590d\u6742\u7684\u4ea4\u6613\u7b56\u7565\u3002<\/td><td>\u5206\u6563\u6295\u8d44\uff0c\u964d\u4f4e\u5355\u4e00\u8d44\u4ea7\u98ce\u9669\uff0c\u8d39\u7528\u900f\u660e\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>\u5dee\u4ef7\u5408\u7ea6\uff08CFD\uff0cContract 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