{"id":2675124,"date":"2025-10-21T16:11:08","date_gmt":"2025-10-21T16:11:08","guid":{"rendered":"https:\/\/www.wacoca.com\/news\/2675124\/"},"modified":"2025-10-21T16:11:08","modified_gmt":"2025-10-21T16:11:08","slug":"21%e5%85%86%e5%86%86%e6%8a%95%e3%81%98%e3%81%9f%e4%b8%ad%e5%9b%bd%e4%b8%8d%e5%8b%95%e7%94%a3%e3%81%8b%e3%82%89%e3%81%ae%e6%92%a4%e9%80%80%e5%8a%a0%e9%80%9f%ef%bc%8d%e6%b5%b7%e5%a4%96%e5%8b%a2%e3%81%ae","status":"publish","type":"post","link":"https:\/\/www.wacoca.com\/news\/2675124\/","title":{"rendered":"21\u5146\u5186\u6295\u3058\u305f\u4e2d\u56fd\u4e0d\u52d5\u7523\u304b\u3089\u306e\u64a4\u9000\u52a0\u901f\uff0d\u6d77\u5916\u52e2\u306e\u5546\u696d\u30d3\u30eb\u58f2\u5374\u76f8\u6b21\u3050 – Bloomberg"},"content":{"rendered":"

\u4e2d\u56fd\u306e\u4e0d\u52d5\u7523\u306b\u591a\u984d\u306e\u8cc7\u91d1\u3092\u6295\u3058\u3066\u304d\u305f\u6d77\u5916\u6295\u8cc7\u5bb6\u304c\u3001\u5927\u5e45\u306a\u640d\u5931\u3082\u899a\u609f\u306e\u4e0a\u3067\u3001\u76f8\u6b21\u3044\u3067\u7269\u4ef6\u3092\u58f2\u5374\u3057\u3088\u3046\u3068\u3057\u3066\u3044\u308b\u3002\u30a2\u30b8\u30a2\u6700\u5927\u306e\u7d4c\u6e08\u3092\u9577\u304f\u5727\u8feb\u3057\u3066\u304d\u305f\u4e0d\u52d5\u7523\u30bb\u30af\u30bf\u30fc\u306b\u3001\u3055\u3089\u306a\u308b\u75db\u307f\u304c\u53ca\u3076\u53ef\u80fd\u6027\u304c\u3042\u308b\u3002<\/p>\n

\u3000\u30002024\u5e74\u5f8c\u534a\u4ee5\u964d\u3001\u30d6\u30e9\u30c3\u30af\u30ed\u30c3\u30af\u3084\u30ab\u30fc\u30e9\u30a4\u30eb\u30fb\u30b0\u30eb\u30fc\u30d7\u306a\u3069\u306e\u8cc7\u7523\u904b\u7528\u4f1a\u793e\u304c\u3001\u4e2d\u56fd\u56fd\u5185\u306e\u5546\u696d\u30d3\u30eb\u3092\u76f8\u6b21\u3044\u3067\u58f2\u5374\u3057\u305f\u3002\u3044\u305a\u308c\u3082\u53d6\u5f97\u4fa1\u683c\u3092\u5927\u304d\u304f\u4e0b\u56de\u308b\u6c34\u6e96\u3067\u306e\u53d6\u5f15\u3068\u306a\u308a\u3001\u878d\u8cc7\u3092\u884c\u3063\u3066\u3044\u305f\u9280\u884c\u3082\u640d\u5931\u3092\u88ab\u3063\u305f\u3002<\/p>\n

\u3000\u3000\u975e\u516c\u958b\u60c5\u5831\u3060\u3068\u3057\u3066\u533f\u540d\u3092\u6761\u4ef6\u306b\u660e\u3089\u304b\u306b\u3057\u305f\u30c7\u30a3\u30fc\u30eb\u30e1\u30fc\u30ab\u30fc\u3084\u9280\u884c\u95a2\u4fc2\u8005\u306b\u3088\u308c\u3070\u3001\u4ed6\u306e\u6d77\u5916\u6a5f\u95a2\u6295\u8cc7\u5bb6\u3082\u4e2d\u56fd\u4e0d\u52d5\u7523\u306e\u58f2\u5374\u3092\u691c\u8a0e\u3057\u3066\u3044\u308b\u3002HSBC\u30db\u30fc\u30eb\u30c7\u30a3\u30f3\u30b0\u30b9\u3084\u30b9\u30bf\u30f3\u30c0\u30fc\u30c9\u30c1\u30e3\u30fc\u30bf\u30fc\u30c9\u306a\u3069\u3082\u3001\u4e2d\u56fd\u5411\u3051\u4e0d\u52d5\u7523\u878d\u8cc7\u306e\u7126\u3052\u4ed8\u304d\u304c\u5897\u3048\u308b\u6050\u308c\u304c\u3042\u308b\u3068\u8b66\u544a\u3057\u3066\u3044\u308b\u3002<\/p>\n

\u3000\u3000MSCI\u30ea\u30a2\u30eb\u30ad\u30e3\u30d4\u30bf\u30eb\u30a2\u30ca\u30ea\u30c6\u30a3\u30af\u30b9\u304c\u307e\u3068\u3081\u305f\u30c7\u30fc\u30bf\u306b\u3088\u308c\u3070\u3001\u6d77\u5916\u306e\u4e0d\u52d5\u7523\u6295\u8cc7\u5bb6\u306f\u904e\u53bb15\u5e74\u9593\u3067\u3001\u4e2d\u56fd\u306e\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb\u3001\u5009\u5eab\u3001\u30b7\u30e7\u30c3\u30d4\u30f3\u30b0\u30e2\u30fc\u30eb\u3001\u30c7\u30fc\u30bf\u30bb\u30f3\u30bf\u30fc\u306a\u3069\u306b\u7dcf\u984d\u7d041400\u5104\u30c9\u30eb\uff08\u7d0421\u5146\u5186\uff09\u3092\u6295\u3058\u305f\u3002<\/p>\n

\u3000\u3000\u4f01\u696d\u9700\u8981\u306e\u9577\u671f\u7684\u306a\u62e1\u5927\u306b\u3088\u308b\u6069\u6075\u3092\u898b\u8fbc\u3093\u3060\u6295\u8cc7\u3060\u3063\u305f\u304c\u3001\u305d\u306e\u8aad\u307f\u306f\u5916\u308c\u305f\u3002\u4f9b\u7d66\u904e\u5270\u304c\u304b\u3064\u3066\u306a\u3044\u898f\u6a21\u306b\u81a8\u3089\u3093\u3067\u8cc3\u6599\u306f\u4e0b\u843d\u3057\u3001\u591a\u304f\u306e\u4e0d\u52d5\u7523\u4fa1\u5024\u304c\u6025\u843d\u300210\u5e74\u524d\u306e\u4fa1\u683c\u3092\u4e0b\u56de\u308b\u30b1\u30fc\u30b9\u3082\u51fa\u3066\u3044\u308b\u3002<\/p>\n

\u3000\u3000\u30d6\u30eb\u30fc\u30e0\u30d0\u30fc\u30b0\u30fb\u30a4\u30f3\u30c6\u30ea\u30b8\u30a7\u30f3\u30b9\uff08BI\uff09\u306e\u5831\u544a\u66f8\u306b\u3088\u308b\u3068\u3001\u4e2d\u56fd\u306e\u5546\u696d\u4e0d\u52d5\u7523\u306b\u304a\u3044\u3066\u3001\u30ed\u30fc\u30f3\u306e\u30c7\u30d5\u30a9\u30eb\u30c8\uff08\u50b5\u52d9\u4e0d\u5c65\u884c\uff09\u3084\u58f2\u308a\u624b\u304c\u8cc7\u7523\u306e\u7ba1\u7406\u6a29\u3092\u55aa\u5931\u3057\u305f\u969b\u306b\u767a\u751f\u3059\u308b\u300c\u30c7\u30a3\u30b9\u30c8\u30ec\u30b9\u30c8\u58f2\u5374\u300d\u306e\u898f\u6a21\u306f23\uff0d24\u5e74\u306e\u5408\u8a08\u30671140\u5104\u5143\uff08\u7d042\u51464000\u5104\u5186\uff09\u306b\u9054\u3057\u3001\u5168\u58f2\u5374\u984d\u306b\u5360\u3081\u308b\u5272\u5408\u306f24\u5e74\u306b22%\u3068\u904e\u53bb\u6700\u9ad8\u306b\u9054\u3057\u305f\u3002<\/p>\n

\u3000\u3000\u30d5\u30a3\u30c3\u30c1\u30fb\u30ec\u30fc\u30c6\u30a3\u30f3\u30b0\u30b9\u306e\u4e2d\u56fd\u4e0d\u52d5\u7523\u696d\u754c\u62c5\u5f53\u30c7\u30a3\u30ec\u30af\u30bf\u30fc\u3001\u30ec\u30d9\u30c3\u30ab\u30fb\u30bf\u30f3\u6c0f\u306f\u3001\u5e02\u6cc1\u306e\u60aa\u5316\u306b\u3088\u308a\u30c7\u30a3\u30b9\u30c8\u30ec\u30b9\u30c8\u58f2\u5374\u304c\u3055\u3089\u306b\u5897\u3048\u308b\u53ef\u80fd\u6027\u304c\u3042\u308b\u3068\u8b66\u544a\u3002\u3053\u3046\u3057\u305f\u30c7\u30a3\u30b9\u30c8\u30ec\u30b9\u30c8\u58f2\u5374\u304c\u985e\u4f3c\u306e\u5546\u696d\u4e0d\u52d5\u7523\u4fa1\u683c\u306b\u6ce2\u53ca\u3057\u3001\u76f8\u5bfe\u7684\u306b\u5065\u5168\u306a\u4e0d\u52d5\u7523\u306e\u8a55\u4fa1\u306b\u3082\u4e0b\u62bc\u3057\u5727\u529b\u3092\u53ca\u307c\u3059\u30ea\u30b9\u30af\u304c\u3042\u308b\u3068\u3044\u3046\u3002<\/p>\n

\u3000\u3000\u554f\u984c\u306f\u3001\u58f2\u5374\u3092\u5148\u5ef6\u3070\u3057\u3059\u308c\u3070\u3059\u308b\u307b\u3069\u640d\u5931\u304c\u62e1\u5927\u3057\u304b\u306d\u306a\u3044\u3053\u3068\u3060\u3002\u6295\u8cc7\u5bb6\u3084\u9280\u884c\u95a2\u4fc2\u8005\u306b\u3088\u308b\u3068\u3001\u6d77\u5916\u6295\u8cc7\u5bb6\u304c\u591a\u304f\u4fdd\u6709\u3059\u308b\u5317\u4eac\u3068\u4e0a\u6d77\u306e\u30aa\u30d5\u30a3\u30b9\u306e\u8cc7\u672c\u4fa1\u5024\uff08\u63a8\u5b9a\u5e02\u5834\u4fa1\u5024\uff09\u306f\u300119\u5e74\u6bd4\u3067\u5c11\u306a\u304f\u3068\u308240%\u4e0b\u843d\u3057\u3066\u3044\u308b\u3068\u3044\u3046\u3002<\/p>\n

<\/p>\n

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\u3000\u3000BI\u3067\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u4e0d\u52d5\u7523\u3092\u30ab\u30d0\u30fc\u3059\u308b\u30b7\u30cb\u30a2\u30a2\u30ca\u30ea\u30b9\u30c8\u3001\u30d1\u30c8\u30ea\u30c3\u30af\u30fb\u30a6\u30a9\u30f3\u6c0f\u306f\u300c\u5916\u56fd\u4eba\u6295\u8cc7\u5bb6\u306f\u4e2d\u56fd\u306e\u4e0d\u52d5\u7523\u6295\u8cc7\u3092\u5de1\u308a\u8eab\u52d5\u304d\u304c\u53d6\u308c\u306a\u3044\u72b6\u6cc1\u306b\u3042\u308b\u300d\u3068\u6307\u6458\u3002\u51fa\u53e3\u6226\u7565\u3068\u3057\u3066\u6700\u3082\u73fe\u5b9f\u7684\u306a\u306e\u306f\u3001\u8cc7\u91d1\u529b\u306e\u3042\u308b\u4e2d\u56fd\u56fd\u6709\u4f01\u696d\u306a\u3069\u73fe\u5730\u306e\u8cb7\u3044\u624b\u3092\u898b\u3064\u3051\u308b\u3053\u3068\u3060\u304c\u3001\u300c\u56fd\u6709\u4f01\u696d\u3067\u3055\u3048\u4e0d\u52d5\u7523\u5e02\u5834\u304c\u6539\u5584\u3059\u308b\u5146\u3057\u3092\u5f85\u3063\u3066\u3044\u308b\u300d\u3068\u6307\u6458\u3057\u305f\u3002<\/p>\n

\"Office<\/p>\n

\u304b\u3064\u3066\u30d6\u30e9\u30c3\u30af\u30ed\u30c3\u30af\u304c\u6240\u6709\u3057\u3066\u3044\u305f\u4e0a\u6d77\u306e\u30aa\u30d5\u30a3\u30b9\u30d3\u30eb<\/p>\n

Photographer: Qilai Shen\/Bloomberg<\/p>\n

\u539f\u984c\uff1aA Troubled $140 Billion Bet on China Property Gets Even Worse\uff08\u629c\u7c8b\uff09<\/p>\n","protected":false},"excerpt":{"rendered":"

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