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href=\"https:\/\/apps.sfc.hk\/edistributionWeb\/gateway\/TC\/circular\/doc?refNo=25EC57\">\u8b49\u76e3\u6703\u901a\u51fd25EC57<\/a>\uff1b<a href=\"https:\/\/www.davispolk.com\/insights\/client-update\/hong-kong-permits-virtual-asset-exchanges-access-global-liquidity-and-expand\">Davis Polk\u8a55\u6790\uff0c2025\u5e7411\u6708<\/a>\uff09\u3002\u65b0\u4ee3\u5e63\u9808\u5177\u509912\u500b\u6708\u5f80\u7e3e\u7d00\u9304\u7684\u898f\u5b9a\uff0c\u5c0d\u50c5\u5411\u5c08\u696d\u6295\u8cc7\u8005\u63d0\u4f9b\u7684\u4ee3\u5e63\u4e0d\u518d\u9069\u7528\u3002<\/p><p>\u5be6\u969b\u6548\u679c\u662f\uff1a\u9999\u6e2fVATP\u724c\u7167\u5982\u4eca\u6bd4\u5341\u4e8c\u500b\u6708\u524d\u66f4\u63a5\u8fd1\u4e00\u500b\u771f\u6b63\u7684\u6a5f\u69cb\u7d1a\u4ea4\u6613\u724c\u7167\u3002\u7533\u9818\u548c\u7dad\u6301\u7684\u8981\u6c42\uff0c\u4ea6\u76f8\u61c9\u660e\u986f\u63d0\u9ad8\u3002<\/p><p><strong>\u8ab0\u9700\u8981\u8003\u616e\u9019\u500b\u724c\u7167\uff1a<\/strong>\u4efb\u4f55\u5728\u9999\u6e2f\u71df\u904b\u6216\u8a08\u5283\u71df\u904b\u4e2d\u592e\u5f0f\u865b\u64ec\u8cc7\u7522\u4ea4\u6613\u6240\u6216\u81ea\u71df\u8cb7\u8ce3\u696d\u52d9\u7684\u4eba\uff0c\u6216\u7a4d\u6975\u5411\u9999\u6e2f\u63a8\u5ee3\u6709\u95dc\u696d\u52d9\u7684\u4eba\u3002<\/p><h2>2. 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href=\"https:\/\/www.hkma.gov.hk\/chi\/key-functions\/international-financial-centre\/stablecoin-issuers\/\">\u91d1\u7ba1\u5c40\u7a69\u5b9a\u5e63\u767c\u884c\u4eba\u5c08\u9801<\/a>\uff09\u3002<\/p><p>\u9996\u8f2a\u724c\u7167\u7533\u8acb\u65bc2025\u5e749\u670830\u65e5\u622a\u6b62\uff0c\u91d1\u7ba1\u5c40\u78ba\u8a8d\u5171\u63a5\u737236\u5b97\u7533\u8acb\u3002\u9996\u5169\u500b\u724c\u7167\u65bc2026\u5e744\u670810\u65e5\u6279\u51fa\uff0c\u5206\u5225\u6388\u4e88\u7531\u6e23\u6253\u3001\u9999\u6e2f\u96fb\u8a0a\u53caAnimoca Brands\u727d\u982d\u7d44\u6210\u7684\u5408\u8cc7\u4f01\u696d\uff08\u7887\u9ede\u91d1\u878d\u79d1\u6280\u6709\u9650\u516c\u53f8\uff09\uff0c\u4ee5\u53ca\u6ed9\u8c50\uff08<a href=\"https:\/\/www.coindesk.com\/policy\/2026\/03\/24\/hong-kong-awards-first-stablecoin-licenses-to-hsbc-standard-chartered-led-group\">CoinDesk\u5831\u9053\uff0c2026\u5e743\u670824\u65e5<\/a>\uff09\u3002<\/p><p>\u5275\u8fa6\u4eba\u6700\u8a72\u76ef\u7dca\u7684\u662f\u8cc7\u672c\u6578\u5b57\uff1a\u6700\u4f4e2,500\u842c\u6e2f\u5143\u7e73\u8db3\u80a1\u672c\uff08\u6216\u7b49\u503c\u7684\u5176\u4ed6\u8ca8\u5e63\uff09\uff0c\u52a0\u4e0a\u6700\u4f4e300\u842c\u6e2f\u5143\u898f\u5b9a\u901f\u52d5\u8cc7\u91d1\uff0c\u518d\u52a0\u4e0a\u5927\u81f4\u76f8\u7b49\u65bc\u5341\u4e8c\u500b\u6708\u71df\u904b\u958b\u652f\u7684\u984d\u5916\u901f\u52d5\u8cc7\u91d1\uff08<a href=\"https:\/\/www.hkma.gov.hk\/media\/eng\/doc\/key-functions\/ifc\/stablecoin-issuers\/Guideline_on_supervision_of_licensed_stablecoin_issuers_eng.pdf\">\u91d1\u7ba1\u5c40\u300a\u6301\u724c\u7a69\u5b9a\u5e63\u767c\u884c\u4eba\u76e3\u7ba1\u6307\u5f15\u300b<\/a>\uff09\u3002\u518d\u628a\u5132\u5099\u8cc7\u7522\u8981\u6c42\u3001\u6309\u9762\u503c\u8d16\u56de\u7684\u7fa9\u52d9\u4ee5\u53ca\u8cc7\u7522\u9694\u96e2\u898f\u5247\u52a0\u8d77\u4f86\u770b\uff0c\u9019\u986f\u7136\u4e0d\u662f\u70ba\u7cbe\u7c21\u578b\u521d\u5275\u800c\u8a2d\u7684\u5236\u5ea6\uff0c\u800c\u662f\u70ba\u5f62\u614b\u66f4\u63a5\u8fd1\u9280\u884c\u6216\u5927\u578b\u652f\u4ed8\u6a5f\u69cb\u7684\u767c\u884c\u4eba\u800c\u8a2d\u3002\u6211\u5011\u5728<a href=\"https:\/\/titus.com.hk\/zh\/stablecoin-issuer-licensing-hong-kong-2026-zh\/\">\u9999\u6e2f\u7a69\u5b9a\u5e63\u767c\u884c\u4eba\u767c\u724c\u5236\u5ea6\u6307\u5357<\/a>\u4e2d\u8a73\u7d30\u62c6\u89e3\u6574\u500b\u5236\u5ea6\u3002<\/p><p>\u6709\u4e00\u9ede\u503c\u5f97\u7559\u610f\uff1a\u6839\u64da\u300a\u7a69\u5b9a\u5e63\u689d\u4f8b\u300b\u7372\u767c\u724c\u7684\u7a69\u5b9a\u5e63\u767c\u884c\u4eba\uff0c\u5982\u50c5\u8a17\u7ba1\u5176\u81ea\u8eab\u767c\u884c\u7684\u7a69\u5b9a\u5e63\uff0c\u53ef\u8c41\u514d\u65bc\u5373\u5c07\u63a8\u51fa\u7684\u865b\u64ec\u8cc7\u7522\u8a17\u7ba1\u4eba\u767c\u724c\u898f\u5b9a\uff0c\u56e0\u70ba\u91d1\u7ba1\u5c40\u5df2\u76f4\u63a5\u76e3\u7763\u8a72\u9805\u6d3b\u52d5\uff08<a href=\"https:\/\/www.davispolk.com\/insights\/client-update\/hong-kongs-licensing-and-regulatory-framework-stablecoins-now-effect\">Davis Polk\u8a55\u6790\uff0c2025\u5e748\u6708<\/a>\uff09\u3002<\/p><p><strong>\u8ab0\u9700\u8981\u8003\u616e\u9019\u500b\u724c\u7167\uff1a<\/strong>\u4efb\u4f55\u5728\u9999\u6e2f\u767c\u884c\u6cd5\u5e63\u7a69\u5b9a\u5e63\u7684\u696d\u52d9\uff0c\u4ee5\u53ca\u4efb\u4f55\u5728\u4e16\u754c\u5404\u5730\u767c\u884c\u53c3\u7167\u6e2f\u5143\u7a69\u5b9a\u5e63\u7684\u696d\u52d9\u3002\u6e96\u5099\u53c3\u8207\u7b2c\u4e8c\u8f2a\u7533\u8acb\u7684\u4e5f\u8981\u7559\u5fc3\u2014\u2014\u91d1\u7ba1\u5c40\u5df2\u8868\u660e\u9580\u6abb\u5c07\u7dad\u6301\u5728\u975e\u5e38\u9ad8\u7684\u6c34\u5e73\u3002<\/p><h2>3. \u865b\u64ec\u8cc7\u7522\u4ea4\u6613\u5546\u724c\u7167\uff08\u5373\u5c07\u63a8\u51fa\uff09<\/h2><p>\u9019\u662f\u8ca1\u5eab\u5c40\u8207\u8b49\u76e3\u6703\u65bc2025\u5e7412\u6708\u5b8c\u6210\u8aee\u8a62\u7684\u5169\u500b\u65b0\u5236\u5ea6\u4e4b\u4e00\u3002\u865b\u64ec\u8cc7\u7522\u4ea4\u6613\u5546\u724c\u7167\u5c07\u6db5\u84cb\u63d0\u4f9b\u300c\u865b\u64ec\u8cc7\u7522\u4ea4\u6613\u670d\u52d9\u300d\u7684\u516c\u53f8\uff0c\u5927\u81f4\u800c\u8a00\uff0c\u5373\u5728VATP\u7bc4\u570d\u4ee5\u5916\u70ba\u5ba2\u6236\u8cb7\u8ce3\u865b\u64ec\u8cc7\u7522\u3002\u5c0d\u865f\u5165\u5ea7\u7684\u5305\u62ec\u5834\u5916\u4ea4\u6613\uff08OTC\uff09\u4ea4\u6613\u5546\u3001\u7d93\u7d00\uff0c\u4ee5\u53ca\u67d0\u4e9b\u4e0d\u71df\u904b\u4ea4\u6613\u5e73\u53f0\u3001\u4f46\u6703\u70ba\u5ba2\u6236\u6216\u8207\u5ba2\u6236\u8cb7\u8ce3\u865b\u64ec\u8cc7\u7522\u7684\u6a5f\u69cb\u4e2d\u4ecb\u4eba\u3002<\/p><p>\u8a72\u5236\u5ea6\u5c07\u7d0d\u5165\u300a\u6253\u64ca\u6d17\u9322\u53ca\u6050\u6016\u5206\u5b50\u8cc7\u91d1\u7c4c\u96c6\u689d\u4f8b\u300b\u4e4b\u4e0b\uff0c\u4f9d\u5faa\u300c\u76f8\u540c\u696d\u52d9\u3001\u76f8\u540c\u98a8\u96aa\u3001\u76f8\u540c\u898f\u5247\u300d\u7684\u65b9\u91dd\uff1a\u64cd\u5b88\u8981\u6c42\u3001\u6253\u64ca\u6d17\u9322\u53ca\u6050\u6016\u5206\u5b50\u8cc7\u91d1\u7c4c\u96c6\u7fa9\u52d9\u4ee5\u53ca\u6301\u7e8c\u76e3\u7763\uff0c\u5747\u8207\u8b49\u5238\u4ea4\u6613\u5546\u7684\u6a19\u6e96\u770b\u9f4a\u3002\u689d\u4f8b\u8349\u6848\u76ee\u6a19\u65bc2026\u5e74\u63d0\u4ea4\u7acb\u6cd5\u6703\uff08<a href=\"https:\/\/www.info.gov.hk\/gia\/general\/202512\/24\/P2025122400262.htm\">\u8ca1\u5eab\u5c40\uff0f\u8b49\u76e3\u6703\uff0c2025\u5e7412\u670824\u65e5<\/a>\uff1b<a href=\"https:\/\/www.charltonslaw.com\/fstb-and-sfc-conclude-consultation-on-licensing-regime-for-virtual-asset-custodians\/\">Charltons\u6458\u8981<\/a>\uff09\u3002<\/p><p>\u8cc7\u672c\u8981\u6c42\u65b9\u9762\uff0c\u5275\u8fa6\u4eba\u8981\u8a18\u4f4f\u7684\u6578\u5b57\u662f\uff1a\u6700\u4f4e500\u842c\u6e2f\u5143\u7e73\u8db3\u80a1\u672c\uff08\u6216\u7b49\u503c\u7684\u5176\u4ed6\u8ca8\u5e63\uff09\uff0c\u52a0\u4e0a\u6700\u4f4e300\u842c\u6e2f\u5143\u898f\u5b9a\u901f\u52d5\u8cc7\u91d1\uff0c\u518d\u52a0\u4e0a\u5927\u81f4\u76f8\u7b49\u65bc\u5341\u4e8c\u500b\u6708\u71df\u904b\u958b\u652f\u7684\u984d\u5916\u901f\u52d5\u8cc7\u91d1\u3002\u5927\u91cf\u76ee\u524d\u8655\u65bc\u8b49\u76e3\u6703\u6b63\u5f0f\u76e3\u7ba1\u7bc4\u570d\u4ee5\u5916\u3001\u9760\u96e2\u5cb8\u67b6\u69cb\u6216\u8c41\u514d\u7a7a\u9593\u71df\u904b\u7684\u71df\u904b\u8005\uff0c\u5c07\u88ab\u9019\u500b\u5236\u5ea6\u7d0d\u5165\u898f\u7ba1\u3002<\/p><p><strong>\u8ab0\u9700\u8981\u8003\u616e\u9019\u500b\u724c\u7167\uff1a<\/strong>\u5834\u5916\u4ea4\u6613\uff08OTC\uff09\u4ea4\u6613\u6ac3\u53f0\u3001\u865b\u64ec\u8cc7\u7522\u7d93\u7d00\u3001\u81ea\u71df\u4ea4\u6613\u5546\u3001\u5728VATP\u7bc4\u570d\u4ee5\u5916\u71df\u904b\u7684\u838a\u5bb6\uff0c\u4ee5\u53ca\u5728\u9999\u6e2f\u70ba\u6a5f\u69cb\u5ba2\u6236\u5b89\u6392\u4ea4\u6613\u7684\u516c\u53f8\u3002<\/p><h2>4. \u865b\u64ec\u8cc7\u7522\u8a17\u7ba1\u4eba\u724c\u7167\uff08\u5373\u5c07\u63a8\u51fa\uff09<\/h2><p>\u9019\u662f2025\u5e7412\u6708\u8aee\u8a62\u7e3d\u7d50\u4e2d\u7684\u7b2c\u4e8c\u500b\u5236\u5ea6\u3002\u865b\u64ec\u8cc7\u7522\u8a17\u7ba1\u4eba\u724c\u7167\u5c07\u9069\u7528\u65bc\u4efb\u4f55\u5728\u9999\u6e2f\u70ba\u5ba2\u6236\u63d0\u4f9b\u7b2c\u4e09\u65b9\u865b\u64ec\u8cc7\u7522\u8a17\u7ba1\u7684\u696d\u52d9\uff0c\u9664\u975e\u6709\u95dc\u6d3b\u52d5\u5df2\u53d7\u5176\u4ed6\u5236\u5ea6\uff08\u5c24\u5176\u662f\u300a\u7a69\u5b9a\u5e63\u689d\u4f8b\u300b\uff09\u6db5\u84cb\uff08<a href=\"https:\/\/www.info.gov.hk\/gia\/general\/202512\/24\/P2025122400262.htm\">\u8ca1\u5eab\u5c40\uff0f\u8b49\u76e3\u6703\uff0c2025\u5e7412\u670824\u65e5<\/a>\uff09\u3002<\/p><p>\u53d7\u5f71\u97ff\u6700\u5927\u7684\uff0c\u662f\u6a5f\u69cb\u7d1a\u52a0\u5bc6\u8cc7\u7522\u8a17\u7ba1\u516c\u53f8\u3001\u57fa\u91d1\u6240\u7528\u7684\u5408\u8cc7\u683c\u8a17\u7ba1\u4eba\uff0c\u4ee5\u53ca\u4efb\u4f55\u4ee5\u7368\u7acb\u670d\u52d9\u5f62\u5f0f\u8a17\u7ba1\u5ba2\u6236\u865b\u64ec\u8cc7\u7522\u7684\u696d\u52d9\u3002\u90a3\u4e9b\u5728\u4e3b\u696d\u4e4b\u5916\u9644\u5e36\u8a17\u7ba1\u5ba2\u6236\u8cc7\u7522\u7684\u91d1\u878d\u79d1\u6280\u516c\u53f8\uff08\u9322\u5305\u4f9b\u61c9\u5546\u3001\u67d0\u4e9b\u652f\u4ed8\u516c\u53f8\u3001\u67d0\u4e9bWeb3\u5e73\u53f0\uff09\uff0c\u904e\u53bb\u56e0\u70ba\u6c92\u6709\u5236\u5ea6\u8981\u6c42\u800c\u5f9e\u672a\u6301\u6709\u9999\u6e2f\u8a17\u7ba1\u724c\u7167\u2014\u2014\u9019\u500b\u5236\u5ea6\u5c0d\u4ed6\u5011\u540c\u6a23\u91cd\u8981\u3002<\/p><p>\u8cc7\u672c\u9580\u6abb\u6bd4\u4ea4\u6613\u5546\u66f4\u9ad8\uff1a\u6700\u4f4e1,000\u842c\u6e2f\u5143\u7e73\u8db3\u80a1\u672c\uff08\u6216\u7b49\u503c\u7684\u5176\u4ed6\u8ca8\u5e63\uff09\uff0c\u52a0\u4e0a\u6700\u4f4e300\u842c\u6e2f\u5143\u898f\u5b9a\u901f\u52d5\u8cc7\u91d1\uff0c\u518d\u52a0\u4e0a\u5927\u81f4\u76f8\u7b49\u65bc\u5341\u4e8c\u500b\u6708\u71df\u904b\u958b\u652f\u7684\u984d\u5916\u901f\u52d5\u8cc7\u91d1\u3002<\/p><p>\u8a17\u7ba1\u4eba\u5236\u5ea6\u52a0\u4e0a\u4ea4\u6613\u5546\u5236\u5ea6\uff0c\u7b49\u65bc\u9999\u6e2f\u628a\u300c\u53ea\u898f\u7ba1VATP\u300d\u5e74\u4ee3\u7559\u4e0b\u7684\u6700\u5f8c\u5e7e\u500b\u91cd\u5927\u7f3a\u53e3\u9010\u4e00\u88dc\u4e0a\u3002\u5169\u8005\u4e00\u65e6\u751f\u6548\uff0c\u9999\u6e2f\u5883\u5167\u865b\u64ec\u8cc7\u7522\u50f9\u503c\u93c8\u4e0a\u5e7e\u4e4e\u6bcf\u4e00\u500b\u91cd\u8981\u74b0\u7bc0\uff0c\u90fd\u9700\u8981\u7279\u5b9a\u724c\u7167\u3002<\/p><p><strong>\u8ab0\u9700\u8981\u8003\u616e\u9019\u500b\u724c\u7167\uff1a<\/strong>\u5408\u8cc7\u683c\u8a17\u7ba1\u4eba\u3001\u6a5f\u69cb\u7d1a\u52a0\u5bc6\u8cc7\u7522\u8a17\u7ba1\u5e73\u53f0\u3001\u6301\u6709\u5ba2\u6236\u5bc6\u9470\u7684\u9322\u5305\u4f9b\u61c9\u5546\uff0c\u4ee5\u53ca\u4efb\u4f55\u5728\u8f03\u5ee3\u6cdb\u670d\u52d9\u4e2d\u70ba\u5ba2\u6236\u8a17\u7ba1\u865b\u64ec\u8cc7\u7522\u7684\u516c\u53f8\u3002<\/p><h2>5. \u865b\u64ec\u8cc7\u7522\u610f\u898b\u53ca\u7ba1\u7406\u670d\u52d9\u724c\u7167\uff08\u5373\u5c07\u63a8\u51fa\uff09<\/h2><p>\u9019\u5c31\u662f2026\u5e745\u670826\u65e5\u525b\u767b\u4e0a\u65b0\u805e\u7684\u5236\u5ea6\u3002\u8ca1\u5eab\u5c40\u8207\u8b49\u76e3\u6703\u5c31\u5169\u500b\u4e26\u884c\u7684\u767c\u724c\u5236\u5ea6\u767c\u8868\u8aee\u8a62\u7e3d\u7d50\uff08<a href=\"https:\/\/www.info.gov.hk\/gia\/general\/202605\/26\/P2026052600572.htm\">\u8ca1\u5eab\u5c40\uff0f\u8b49\u76e3\u6703\uff0c2026\u5e745\u670826\u65e5<\/a>\uff09\uff1a<\/p><ul><li>\u5c31\u865b\u64ec\u8cc7\u7522\u63d0\u4f9b\u610f\u898b\u7684\u670d\u52d9\u5236\u5ea6\uff0c\u4ee5\u300a\u8b49\u5238\u53ca\u671f\u8ca8\u689d\u4f8b\u300b\u4e0b\u7b2c4\u985e\uff08\u5c31\u8b49\u5238\u63d0\u4f9b\u610f\u898b\uff09\u53d7\u898f\u7ba1\u6d3b\u52d5\u70ba\u85cd\u672c\u3002<\/li><li>\u865b\u64ec\u8cc7\u7522\u7ba1\u7406\u670d\u52d9\u5236\u5ea6\uff0c\u4ee5\u300a\u8b49\u5238\u53ca\u671f\u8ca8\u689d\u4f8b\u300b\u4e0b\u7b2c9\u985e\uff08\u63d0\u4f9b\u8cc7\u7522\u7ba1\u7406\uff09\u53d7\u898f\u7ba1\u6d3b\u52d5\u70ba\u85cd\u672c\u3002<\/li><\/ul><p>\u5169\u8005\u5747\u5c07\u7d0d\u5165\u300a\u6253\u64ca\u6d17\u9322\u53ca\u6050\u6016\u5206\u5b50\u8cc7\u91d1\u7c4c\u96c6\u689d\u4f8b\u300b\u4e4b\u4e0b\u3002\u539f\u5247\u540c\u6a23\u662f\u300c\u76f8\u540c\u696d\u52d9\u3001\u76f8\u540c\u98a8\u96aa\u3001\u76f8\u540c\u898f\u5247\u300d\u3002\u5c31\u865b\u64ec\u8cc7\u7522\u63d0\u4f9b\u610f\u898b\u7684\u670d\u52d9\u63d0\u4f9b\u8005\u53ca\u865b\u64ec\u8cc7\u7522\u7ba1\u7406\u670d\u52d9\u63d0\u4f9b\u8005\uff0c\u5c07\u53d7\u5230\u8207\u8b49\u5238\u696d\u5c0d\u61c9\u8005\u76f8\u82e5\u7684\u898f\u7ba1\u3002\u8aee\u8a62\u671f\u9593\u8a0e\u8ad6\u7684\u6307\u6a19\u6027\u8cc7\u672c\u8981\u6c42\u5305\u62ec500\u842c\u6e2f\u5143\u7e73\u8db3\u80a1\u672c\u7684\u57fa\u7dda\uff0c\u6301\u6709\u5ba2\u6236\u8cc7\u7522\u8005\u6700\u4f4e300\u842c\u6e2f\u5143\u898f\u5b9a\u901f\u52d5\u8cc7\u91d1\uff0c\u800c\u901f\u52d5\u8cc7\u91d1\u8981\u6c42\u5247\u6309\u6301\u724c\u4eba\u662f\u5426\u6301\u6709\u5ba2\u6236\u8cc7\u7522\u800c\u6709\u6240\u4e0d\u540c\uff08<a href=\"https:\/\/www.charlesrussellspeechlys.com\/en\/insights\/expert-insights\/financial-services\/2026\/hong-kong-finalises-va-dealer-licensing-and-consults-on-va-advisorsmanagers--how-it-compares-to-todays-type-149-va-uplift\/\">Charles Russell Speechlys\u5206\u6790<\/a>\uff1b<a href=\"https:\/\/conventuslaw.com\/featured-content\/hong-kong-an-introduction-to-the-new-licensing-regime-for-virtual-asset-deals-virtual-asset-advice-and-virtual-asset-management-services\/\">Conventus Law\u6458\u8981<\/a>\uff09\u3002\u6700\u7d42\u6578\u5b57\u5c07\u8f09\u65bc\u689d\u4f8b\u8349\u6848\u53ca\u8b49\u76e3\u6703\u7684\u767c\u724c\u624b\u518a\u3002<\/p><p>\u5c0d\u73fe\u6709\u5e02\u5834\u800c\u8a00\uff0c\u6709\u5169\u9ede\u8981\u8a18\u4f4f\u3002\u7b2c\u4e00\uff0c\u76ee\u524d\u672a\u6301\u724c\u800c\u5c31\u865b\u64ec\u8cc7\u7522\u63d0\u4f9b\u610f\u898b\u6216\u9032\u884c\u7ba1\u7406\u7684\u516c\u53f8\uff0c\u4e26\u4e0d\u8a2d\u4e00\u822c\u6027\u7684\u300c\u88ab\u7576\u4f5c\u5df2\u7372\u767c\u724c\u300d\u5b89\u6392\u3002\u5236\u5ea6\u4e00\u65e6\u5be6\u65bd\uff0c\u4ed6\u5011\u5fc5\u9808\u63d0\u51fa\u7533\u8acb\u3002\u7b2c\u4e8c\uff0c\u5df2\u6301\u6709\u8b49\u76e3\u6703\u7b2c4\u985e\u6216\u7b2c9\u985e\u724c\u7167\u4e26\u5b8c\u6210\u73fe\u6709\u865b\u64ec\u8cc7\u7522\u300c\u63d0\u5347\u300d\u7684\u516c\u53f8\uff0c\u9810\u671f\u53ef\u5faa\u52a0\u5feb\u5be9\u6279\u9014\u5f91\u904e\u6e21\u81f3\u65b0\u5236\u5ea6\uff0c\u6bcb\u9808\u7531\u96f6\u958b\u59cb\u91cd\u65b0\u7533\u8acb\u3002\u904e\u53bb\u5169\u5e74\u82b1\u904e\u5de5\u592b\u70ba\u73fe\u6709\u724c\u7167\u8fa6\u7406\u63d0\u5347\u7684\u5916\u90e8\u8cc7\u7522\u7ba1\u7406\u4eba\uff08EAM\uff09\u3001\u5bb6\u65cf\u8fa6\u516c\u5ba4\u53ca\u8cc7\u7522\u7ba1\u7406\u4eba\uff0c\u9019\u4e00\u9ede\u5c0d\u4f60\u5011\u610f\u7fa9\u91cd\u5927\u3002<\/p><p><strong>\u8ab0\u9700\u8981\u8003\u616e\u9019\u4e9b\u724c\u7167\uff1a<\/strong>\u5c31\u865b\u64ec\u8cc7\u7522\u63d0\u4f9b\u610f\u898b\u7684\u670d\u52d9\u63d0\u4f9b\u8005\u3001\u904b\u4f5c\u865b\u64ec\u8cc7\u7522\u7b56\u7565\u7684\u5bb6\u65cf\u8fa6\u516c\u5ba4\u3001\u696d\u52d9\u5305\u542b\u865b\u64ec\u8cc7\u7522\u7684\u5916\u90e8\u8cc7\u7522\u7ba1\u7406\u4eba\u3001\u52a0\u5bc6\u8cc7\u7522\u7ba1\u7406\u4eba\u53ca<a href=\"https:\/\/titus.com.hk\/investment-funds\/\">\u52a0\u5bc6\u57fa\u91d1\u7ba1\u7406\u4eba<\/a>\uff0c\u4ee5\u53ca\u4efb\u4f55\u4ee5\u6536\u8cbb\u670d\u52d9\u5f62\u5f0f\u300c\u5efa\u8b70\u300d\u5ba2\u6236\u8cfc\u5165\u6216\u51fa\u552e\u865b\u64ec\u8cc7\u7522\u7684\u696d\u52d9\u3002\u76ee\u524d\u5728\u96e2\u5cb8\u71df\u904b\u4f46\u5ba2\u6236\u7fa4\u9762\u5411\u9999\u6e2f\u7684\uff0c\u540c\u6a23\u8a08\u7b97\u5728\u5167\u3002<\/p><h2>\u5982\u4f55\u5224\u65b7\u81ea\u5df1\u8981\u54ea\u500b\u724c\u7167<\/h2><p>\u7b2c\u4e00\u500b\u554f\u984c\uff1a\u4f60\u7684\u6d3b\u52d5\u5be6\u8cea\u4e0a\u5c6c\u65bc\u4ea4\u6613\u3001\u8a17\u7ba1\u3001\u63d0\u4f9b\u610f\u898b\u3001\u7ba1\u7406\u3001\u767c\u884c\uff0c\u9084\u662f\u71df\u904b\u5834\u6240\uff1f\u5927\u591a\u6578\u865b\u64ec\u8cc7\u7522\u696d\u52d9\u505a\u7684\u4e0d\u6b62\u5176\u4e2d\u4e00\u7a2e\u3002<\/p><p>\u4e00\u500b\u7c97\u7565\u7684\u5224\u65b7\u6846\u67b6\uff1a<\/p><ul><li>\u5982\u679c\u5ba2\u6236\u53ef\u6309\u4f60\u7684\u5831\u50f9\u6216\u4f60\u7684\u76e4\u8def\u843d\u55ae\uff0c\u4f60\u5927\u6982\u5c6c\u65bcVATP\u6216\u4ea4\u6613\u5546\u7bc4\u570d\u3002<\/li><li>\u5982\u679c\u4f60\u6301\u6709\u5ba2\u6236\u865b\u64ec\u8cc7\u7522\u800c\u5ba2\u6236\u53ef\u8981\u6c42\u53d6\u56de\uff0c\u4f60\u5927\u6982\u5c6c\u65bc\u8a17\u7ba1\u4eba\u7bc4\u570d\u3002<\/li><li>\u5982\u679c\u4f60\u4ee5\u6536\u8cbb\u5f62\u5f0f\u5efa\u8b70\u5ba2\u6236\u61c9\u8cb7\u5165\u6216\u8ce3\u51fa\u751a\u9ebc\uff0c\u4f60\u5927\u6982\u5c6c\u65bc\u610f\u898b\u670d\u52d9\u7bc4\u570d\u3002<\/li><li>\u5982\u679c\u4f60\u4ee5\u5168\u6b0a\u59d4\u8a17\u65b9\u5f0f\u66ff\u4ed6\u4eba\u7ba1\u7406\u865b\u64ec\u8cc7\u7522\u7d44\u5408\uff0c\u4f60\u5c6c\u65bc\u7ba1\u7406\u670d\u52d9\u7bc4\u570d\u3002<\/li><li>\u5982\u679c\u4f60\u9444\u9020\u6216\u767c\u884c\u6cd5\u5e63\u7a69\u5b9a\u5e63\uff0c\u4f60\u5c6c\u65bc\u7a69\u5b9a\u5e63\u767c\u884c\u4eba\u7bc4\u570d\u3002<\/li><\/ul><p>\u7b2c\u4e8c\u500b\u554f\u984c\uff1a\u4f60\u7684\u696d\u52d9\u67b6\u69cb\u4e2d\uff0c\u6709\u6c92\u6709\u53ef\u4ee5\u7c21\u5316\u6216\u8abf\u6574\u4f4d\u7f6e\u3001\u907f\u514d\u91cd\u8907\u9818\u724c\u7684\u90e8\u5206\uff1f\u6709\u6642\u53ef\u4ee5\u2014\u2014\u5408\u7406\u5730\u91cd\u6574\u96c6\u5718\u5167\u90e8\u8cc7\u91d1\u6d41\u7684\u6587\u4ef6\u5b89\u6392\uff0c\u6216\u628a\u4ea4\u6613\u5be6\u9ad4\u8207\u8a17\u7ba1\u5be6\u9ad4\u5fb9\u5e95\u5206\u958b\uff0c\u80fd\u6e1b\u5c11\u4f60\u8eab\u8655\u7684\u5236\u5ea6\u6578\u76ee\u3002\u6709\u6642\u4e0d\u53ef\u4ee5\u2014\u2014\u5982\u679c\u4f60\u78ba\u5be6\u505a\u4e94\u7a2e\u4e0d\u540c\u7684\u696d\u52d9\uff0c\u4f60\u5c31\u8981\u8003\u616e\u4e94\u500b\u4e0d\u540c\u7684\u724c\u7167\u3002<\/p><p>\u7b2c\u4e09\u500b\u554f\u984c\u662f\u6642\u5e8f\u3002\u300a\u7a69\u5b9a\u5e63\u689d\u4f8b\u300b\u53caVATP\u5236\u5ea6\u5df2\u7d93\u751f\u6548\u3002\u4ea4\u6613\u5546\u53ca\u8a17\u7ba1\u4eba\u5236\u5ea6\u9810\u8a08\u65bc2026\u5e74\u7d93\u7acb\u6cd5\u6703\u5be9\u8b70\uff0c\u904e\u6e21\u5b89\u6392\u5f88\u53ef\u80fd\u5206\u968e\u6bb5\u63a8\u884c\u3002\u610f\u898b\u670d\u52d9\u53ca\u7ba1\u7406\u670d\u52d9\u5236\u5ea6\u5c07\u8f09\u65bc\u540c\u4e00\u689d\u4f8b\u8349\u6848\u3002\u8b49\u76e3\u6703\u53ca\u91d1\u7ba1\u5c40\u724c\u7167\u7533\u8acb\u7684\u8655\u7406\u6642\u9593\u76f8\u7576\u9577\uff0c\u800c\u76e3\u7ba1\u6a5f\u69cb\u523b\u610f\u628a\u9580\u6abb\u7dad\u6301\u5728\u9ad8\u6c34\u5e73\u3002\u7b49\u5230\u689d\u4f8b\u8349\u6848\u520a\u61b2\u624d\u884c\u52d5\uff0c\u4ee3\u50f9\u5c31\u662f\u6392\u5728\u4e00\u689d\u9577\u5f97\u591a\u7684\u968a\u4f0d\u5f8c\u9762\u3002<\/p><h2>\u73fe\u5728\u61c9\u8a72\u505a\u751a\u9ebc<\/h2><p>\u5982\u679c\u4f60\u7684\u865b\u64ec\u8cc7\u7522\u696d\u52d9\u8207\u9999\u6e2f\u6709\u4efb\u4f55\u95dc\u9023\uff0c\u8d81\u4e0b\u4e00\u6279\u689d\u4f8b\u8349\u6848\u63d0\u4ea4\u7acb\u6cd5\u6703\u4e4b\u524d\uff0c\u6709\u4e09\u4ef6\u5be6\u4e8b\u503c\u5f97\u505a\u3002<\/p><p>\u7b2c\u4e00\uff0c\u628a\u4f60\u7684\u696d\u52d9\u6d3b\u52d5\u9010\u4e00\u5c0d\u7167\u4e94\u500b\u5236\u5ea6\u3002\u8aa0\u5be6\u5730\u5be9\u8996\u5be6\u8cea\uff0c\u800c\u4e0d\u53ea\u662f\u67b6\u69cb\u3002\u5728\u65b0\u7684\u4ea4\u6613\u5546\u53ca\u8a17\u7ba1\u4eba\u5236\u5ea6\u4e4b\u4e0b\uff0c\u53ea\u8981\u4f60\u5728\u9999\u6e2f\u6709\u5be6\u8cea\u71df\u904b\u6216\u9999\u6e2f\u5ba2\u6236\u7fa4\uff0c\u300c\u6211\u5011\u662f\u96e2\u5cb8\u516c\u53f8\u300d\u9019\u500b\u7b54\u6848\u5f88\u5feb\u5c31\u7ad9\u4e0d\u4f4f\u8173\u3002<\/p><p>\u7b2c\u4e8c\uff0c\u5982\u679c\u4f60\u5df2\u6301\u6709\u9644\u6709\u865b\u64ec\u8cc7\u7522\u63d0\u5347\u7684\u8b49\u76e3\u6703\u724c\u7167\uff0c\u61c9\u5c31\u904e\u6e21\u81f3\u65b0\u610f\u898b\u670d\u52d9\u6216\u7ba1\u7406\u670d\u52d9\u5236\u5ea6\u7684\u52a0\u5feb\u5be9\u6279\u9014\u5f91\u5c0b\u6c42\u610f\u898b\u3002\u9019\u662f\u9032\u5165\u65b0\u76e3\u7ba1\u67b6\u69cb\u6700\u4e7e\u6de8\u5229\u843d\u7684\u4e00\u689d\u8def\uff0c\u904e\u53bb\u5169\u5e74\u70ba\u6b64\u92ea\u8def\u7684\u5e02\u5834\u53c3\u8207\u8005\u5373\u5c07\u7372\u5f97\u56de\u5831\u3002\u610f\u898b\u670d\u52d9\u53ca\u7ba1\u7406\u670d\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