?????2018????????????????????????
2018?4????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
?????????1995?????
???????????????????1994?2??1995?2???????3.25%???6%????1990??????????????????????????????????????3%?1994??????????????????????????????????????5%??8%????????3%???6%???????????????????
2017??????????????????????
??????????????????????1995??????????????????
??????????????
?1995???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
????????????????????????????????????????????
??????????????????????????????????
?????????2018??
??????????????
????????
??????????????????????????????????????????????????GDP????????????
??GDP????
????1995?????GDP????????????
???????1995???GDP?60793.7???GDP??? 10.9% ;????GDP????????GDP??????????10%?????7.6%?
??1996???GDP?71176.6???GDP???10.0%?1997???GDP?78973.0???GDP??? 9.3% ?1999???GDP?89677.1???GDP??? 7.6%?
??2015????????GDP??????????????
2015?????????????????GDP?689052???GDP???6.9%;
2016???????????????2016???GDP?743585???GDP???6.7%;2017??????GDP?827122???GDP???6.9%;
??????
????????,??????????????????
1995?-2000????????????1995??30%????2000??10%???????????????
2016?9???????????M2?????2018?6???????8%???????????????????
???????????
??1995??????????????????????????????????????????,1995???????????????????????????????????????????????????????????????????????????
??2015??????????????????????????????????????????????????????????
?????????????????????????????????????
???????
1995?-2000??
?1998???????????????????????????????????
???????????????????????40????29??
???????????55???40??????20%???
????????????47%?
???????????45???35?;?????????28???18??
2015????
?????????????????????40%???????70%;????????????
???????????????70%???
???????????????????800???
?????????????????90%?
??????95%?????????????
????????????????????????????????????????87%???
????????17%???16%??????
????????????????
????????
1995?-2000?
????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
2015????
2015?12????????????????????????????????????????????????????????????????????????????????????????????
???????
??? Pre-A,A?,A+?,B?,B+?,C?,C+?
????? ??,??,????,????,??,????
??????????????
??? ???,???,Pre-A,A?
????? ????,??,???,????,????,????,??,??,??,????
????????
??? ???,???,Pre-A,A?,A+?,B?,B+?,C?
????? ????,????,????,????,???,SaaS,????
????????
??? ???,???
????? ????,????,????,??,??,????,????
???????????
??? A?,A+?,B?,B+?,C?,C+?,D?,Pre-IPO
????? ???,????,????,????,??,??,???,VR/AR,??,????
??????????
??? Pre-A,A?,A+?,B?,B+?,C?,C+?,D?,Pre-IPO,??,????
????? ????,???,????,????,??,??,????
???????????
???????????
?????????
???????