()

(2012-07-26 19:46:50)

95

60

2008


2008

()

70

()

CPI

2007

CPI
PPI

M1 M2 M1 -M2 M2/GDP

()

M2

2010 67% 28%

2009
19.4
11.1 57%
30%

2009
15%2010 18.3%

2%

2006 22%2007
32%2008 19%2009 11%
22%
2000

2001
WTO
2009 GDP 24%
651002009 1.2 2008
15-20%

PMI

2000

03-07 08-09

2004
170-220 90-130
35-40 1.6-2
50%
2009 7
90 100
GDP 2009 34.5 37.5 GPD

M2 09 M2 47.5 60.6
13.1 09 4.4 M2
34%09 3.62 27.6%

M2
10--20%
60% 09

09
23%
09 10 22%
CDO CDS 08

40%

()
1.

2.

2007
12 CPI 6.5% 3.87%
4.14%2008 4 8.5%
CPI
CPI 4.4%
2.25% 2.5% CPI
7% 4.4% CPI
6-7%

2% 0.2%--0.3%
3.
M2 CPI
M2/GDP 91 88.8% 00 135.7%08
151.3%09 178% 185%
60% M2 , 15% 08 1
2008 1 M2 41.7
2009 1 49.6 18.94% 7154
8123 10.36%2009 M2 62.56
26.13% 2.29% 10
11.86% 3.29% M2 69.98
58.3 11.69 GDP
37.5 99
M2 M2 69% 16%
M2
1978 1992
M1 M2 20
1.25 1.41 CPI

M2 19781999

4.
08-09

M2

1-10
36.98 28.3%; 4.2
18.13 30 40
2009 9.3
10 7.24 10

30%

2.5%

5.

 1-10
09 2008 6%
2.5%
6%---16%
9%
9%

2011 2012 2013

2004-08 M2 50%0910 28%

M2 71 15% 83
96 2012 GDP 8% 44 M2/GDP
218%
6 6.5 7

---
95 27%

()

1968
2008

()

2007 3500
6000
3500

()

()

1.
M1 M2 M1 M2

M1 11
3300 M1 34%,
2300
1996 M1 10% 20%
1996 09 11 95
M1M2

2.PEPB

 PEPB
2001 PE
70 2007 10 6200 PE 69
50.6 A PE 22 30
PE 36 55 74
PB 4 3
00

16
14 500 15 20-25
25-30 A

3.
,
PE PE PE
4%
PE 25
2% PE 70
3%--4%
1997-2008 11 3%
4% 4%
4% PE 10 19

2%

PE 25
30 PE 14

4.

10 26 31 19.4
5200 /2.7%

1.68% 5% 2007 10
28 8.91 1951
2.18% 0.697%

A 5000
3500 6000-7000 4000 8000

10 26 20.8 900
0.4%

16

:
1.
2.
07 8 31
100 20 36
41

3.
04~05

4.

bystander

Bystander

99%
1%

07
20

07 5 08

08 7
100%

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08

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2.

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QQ QQ QQ QQ
QQ QQ ,

ROE
40~50%

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98
98

98

98

98 30% 02~03 98

30%

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07 8 40
3000

07
7

1.

10
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PE 10 13
1.1*1.1*1.1*1.3 70%

PE
PE 01

400~500%

PE

PE Google
PE 24
2000 ,PE 11

Hi .

05

08 10
32000 PE 25
20000 18000 10600
PE 6.3
70 40

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20
10 10 6 PE,

400 102 ;

; 41 1186

40

10 10
60 2008 200
3 22

07
2.

XX 99
99
20 20

3.

ARPU

4
A
;

;
; IPO

6
7

5%
1%
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;
;

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