
10CPI V7.207.407.10 4CPI1-21054 20111290 Z0017101 1..........................................................................................11.1....................................................................................11.2.................................................................................21.2.1...................................................................................................21.2.2...................................................................................................41.2.3...................................................................................................4 2.................................................................................................5 2.1-........................................................................52.2.............................................................................52.2.1............................................................................................52.2.2............................................................................................62.2.3........................................................................................72.2.4........................................................................................82.3........................................................................................92.3.1.........................................................................92.3.2......................................................................9 3.........................................................................................11 3.1........................................................................113.2..........................................................................................143.3................................................................15 1.1.1..................................................................................................11.1.12024422426.11.1.2.....................................................................22.1.1...............................................................................................52.2.1..........................................................52.2.2..............................................................52.2.3..........................................................62.2.4................................................................................62.2.5%..............................................................72.2.6.....................................................................82.2.7 NDFUSDCNH.........................................................................82.2.8 USDCNY25Delta%..........................82.3.1...............................................92.3.2.........................................................................92.3.3.............................................102.3.4.......................................................................103.3.12024.4.22-4.28................................151.................................162%..................................................................173...................................................184Shibor%............................................................................185SOFR%.............................................................................18 6%.................................................................................19 7....................................................................................19 1. 1.1 2024 5 13517CFETSBIS SDR517 16:30 V7.207.407.10 Bloomberg 1.2 1.2.1 301180 1 60% 2 3011802018-201934016020001200 20233.6%2026 4CPI4“”“”6CPI4CPI1-2CPI105 44 4CPI1-2105 1.2.2 1.2.3 2. 2.1- 5177.104534 Refinitiv Bloomberg 2.2 2.2.1 2.2.2 2.2.3 2.2.4 517NDF7.0155510USDCNY25Delta iFinD 2.3 2.3.1 51724067.216384139139 2.3.2 51724067.21325417029 3. 3.1 1.2024203050712352451761451740030 2.301301 3011802018-20193401602000120020233.6%2026 3.515%25%0.2530005000 4. 5.446.7%2.22.3%3.5%5.0%0.21-4 3.2 3.3 / 136310008400 8888 910www.nanhua.net603093