/ ; 7êê “ XDO 7II ( I / LQH , QWHUIDFH 8QLW ZLWK &U \\ VWDOOHVV -LWWHU $ WWHQXDWLRQ
29(59,(:
,Q DGGWLRQ WR WKH LQKHUHQW DGYDQWDJHV RI D' / , 8N WKH
/ ; 7êê DOVR SURYLGHV VHYHUDO DGYDQFHG IHDWXUHV ZKLFK
DUH QRW DYDLODEOH LQ RWKHU / ; 7êí [ VHULHV GHYLFHV $ OO RI
WKH DGGHG IHDWXUHV DUH HDVLO \\ LPSOHPHQWHG 0DQ \\ UHTXLUH
RQO \\ D FORFN SXOVH WR FKDQJH IURP RQH PRGH WR DQRWKHU
6RPH IHDWXUHV DUH DYDLODEOH LQ + RVW 0RGH RQO \\
7ZR FRPSOHWH / , 8V LQ VLQJOH &&分之3 RU 4 ) 3 SDFN
DJH
6LPSOLILHV ERDUG GHVLJQ VDYHV UHDO HVWDWH
3URYHQ DUFKLWHFWXUH O / ; 7E [ VHULHV
&U \\ VWDOOHVV -LWWHU $ WWHQXDWLRQ
1HZ ) HDWXUHV
$ GGLWLRQDO + RVW0RGH ) HDWXUHV
+ LJK ) UHTXHQF \\ &ORFNV
7KH / ; 7êê SURYLGHV SDLU RI KLJK IUHTXHQF \\
FORFN RXWSXWV RQH IRU HDFK / , 8I 7KHVH A [ FORFNV
ìêè 0+ ] IRU 7英寸ìêé 0+ ] IRU ( IO DUH WLHG
WR WKH GHMLWWHUHG FORFN IURP WKH - $ RI WKH UHVSHF
WLYH / , 8I
% LSRODU 9LRODWLRQ , QVHUWLRQ
7KHSLQV ZKLFK SURYLGH WKH + LJK ) UHTXHQF \\
&ORFNV外债配额DOVR EH XVHG WR LQVHUW ELSRODU YLRODWLRQV
LQWR WKH RXWJRLQJ GDWD VWUHDP 9LRODWLRQV外债配额EH LQD
VHUWHG LQWR HDFK / 8 FKDQQHO LQGHSHQGHQWO \\
% XLOW ,Q 6HOI 7HVW 4566
7KH / ; 7êê外债配额JHQHUDWH DQG WUDQVPLW 4566
SDWWHUQ WR % XLOW ,Q 6HOI 7HVW 。O% , 67 DSSOLFDWLRQV
/ RJLF HUURUV DQG ELSRODU YLRODWLRQV外债配额EH LQVHUWHG
LQWR WKH 4566 RXWSXW 7KH / ; 7êê DOVR GHWHFWV
4566 SDWWHUQ V \\ QFKURQL ] DWLRQ DQG UHSRUWV ELW HUD
URUV LQ WKH UHFHLYHG 4566 SDWWHUQ GDWD VWUHDP
6WDQGDUG / ; 7êê ) HDWXUHV
7ULVWDWH 2XWSXWV
OO $ / ; 7êê ┮SLQV外债配额EH IRUFHG WR KLJK =
7ULVWDWH PRGH 7KH 7ULVWDWH PRGH LV HQDEOHG RU
GLVDEOHG ê \\ WKH 7567 ( SLQ
7KH / ; 7êê ) UDPHU LQWHUIDFH外债配额EH HLWKHU ELSR
ODU GHIDXOW RU XQLSRODU VHOHFWDEOH 7KH XQLSRODU
PRGH LV VHOHFWHG ê \\ DSSO \\ LQJ 0& / 。 WR WKH 7567 (
SLQ ?
7KH / ; 7êê LQFRUSRUDWHV ] HUR VXSSUHVVLRQ HQFRG
HUV DQG GHFRGHUV IRU XVH LQ WKH XQLSRODU GDWD , I2
PRGH 7KH HQFRGHUVGHFRGHUV外债配额EH DFWLYDWHG RU
GHDFWLYDWHG ê \\ FKDQJLQJ WKH ORJLF OHYHO RQ WKH UHD
PDSSHG 71 ( * SLQ
-LWWHU DWWHQXDWLRQ外债配额EH SODFHG LQ HLWKHU WKH WUDQV
PLW RU UHFHLYH噿RU GHDFWLYDWHG 7KH -LWWHU $ WWHQ
XDWLRQ 6HOHFW邻6美元( / O SLQ GHWHUPLQHV WKH MLWWHU
DWWHQXDWLRQ PRGH 1R FU \\ VWDO UHTXLUHG
7KLV RSWLRQ HQDEOHV VLPXOWDQHRXV ORRSEDFNV WR
ERWK WKH IUDPHU DQG WKH OLQH 7KH 7& / .N 7326
DQG 71 ( * IUDPHU LQSXWV DUH URXWHG WKURXJK WKH MLW
WHU DWWHQXDWRU DQG ORRSHG EDFN WR WKH 5& / .N 5326
DQG 51 ( * RXWSXWV 7KH 57,355,1 *LQSXWV
DUH ORRSHG EDFN WKURXJK WKH WLPLQJ UHFRYHU \\
DQGGULYHU RQWR WKH 77,375,1 * RXWSXWV
$ ,6' HWHFWLRQ
7KH / ; 7êê GHWHFWV WKH $ , 6 DODUP VLJQDO RQ WKH
UHFHLYH VLGH LQGHSHQGHQW RI WKH ORRSEDFN PRGHV
: KHQ $ , 6 LV GHWHFWHG OHVV WKDQ E] HURV LQ íé
ELWV WKH / ; 7êê SURYLGHV DQ LQGLFDWRU RXWSXW
% LSRODU RU 8QLSRODU ' DWD , I2
% A = 6 RU + ' % E = HUR 6XSSUHVVLRQ
6HOHFWDEOH -LWWHU $ WWHQXDWLRQ
' XDO / RRSEDFN
ìí
L1