JUGUOJIZHIMINGHUIJIHEHANGYUNZIXUNJIGOUMoore StephensDE《2015NIANHANGYUNYUNYINGCHENGBEN》(OpCost 2015)DEYANJIUFENXIJIEGUO，HANGYUNYEZAI2014NIANDEQUANNIANYUNYINGCHENGBENPINGJUNXIAJIANGLE0.8%，BI2013NIANHAIDILE0.3GEBAIFENDIAN。

　　GAIJIGOUBIAOSHI：“GUOQUDE12GEYUELI，HANGYUNYEDEGEGELINGYUDEFEIYONGDOUZAIXIAJIANG，ZHEIYEZHENGSHILECHUANDONGHEJINGYINGRENZAICHIXUGUANKONGCHENGBENFANGMIANQUDELECHENGXIAO，TONGSHIYEBIAOMINGTAMENZAI2014NIANLISHIFEICHANGKANJINQIANDAIZIDE。”

　　XIANLAIKANYUNYINGCHENGBEN。CONGNIANBIANHUALVLAIKAN，YOULUNZHISHUXIAJIANG2GEDIAN(HUO1.1%)，ERSANHUOCHUANZHISHUXIAJIANGLE1GEDIAN(HUO0.6%)，ERJIZHUANGXIANGCHUANZEXIAJIANGLE2GEDIAN(HUO1.2%)。DANDUI2014NIANDEYUNYINGCHENGBEN(OpCost)YANJIUFENXIDEDAODEXIANGYINGSHUZIZEXIANSHIYOULUNZHISHUSHANGZHANGLE2GEDIAN，ERSANHUOCHUANHEJIZHUANGXIANGCHUANZHISHUZEJUNXIAJIANGLE2GEDIAN。

　　ZAICHUANYUANCHENGBENFANGMIAN，YU2013NIANDESHUZIXIANGBI，2014NIANZONGTIDECHUANYUANCHENGBENPINGJUNXIAJIANGLE0.1%，BI2012NIANXIAJIANGLE0.2%;ERYOULUNZAIZHEIFANGMIANZEYI0.4%DEXIAJIANGLVBIAOXIANJIAOWEITUCHU，TAZAI2013NIANHAICENGSHANGZHANGLE1.8%。SANHUOCHUANFANGMIAN，QUANNIANDECHUANYUANCHENGBENJIBENWEICHIBUBIAN，DANBIQI2013NIANHAISHIPINGJUNXIAJIANGLE0.5%。

　　Moore StephensHEHUORENRichard GreinerSHUO：“ZAIZONGTIYUNYINGCHENGBENFANGMIAN，ZHEISHILIANXUXIAHUADEDISANNIAN。ZHEIYANGDEJIEGUOHAISHICHUHUYILIAODE，TAYUZAOQIANDEYUQIXINGCHENGXIANMINGDUIBI。HENXIANRAN，HANGYUNYEXIANZAIYISHIJINJINJIJIAO、FENWENBIZHENGLE。TONGSHIYEKEYIKANDAO，GENGJUJINGZHENGLIDESHANGPINHEFUWUDINGJIADUIYUJIANGDIFEIYONGQIDAOLEYIDINGDEZUOYONG。CHUCIZHIWAI，HUILVBIANDONGDAILAIDEYINGXIANGYESHIBUNENGHULVEDE，KESHITAYOUHENNANCEDING。”

山东11选5 　　GreinerRENWEI，CHUANYUANCHENGBENDEXIAHUAQISHIYESHIZAIGAIPINGGUJIEDUANZHONGGENGDACHENGDUDECHUANBOXIANZHIDEYIZHONGBIAOXIAN，DANZHEIYANGDEXIAOXIBINGBUZUYIZIMAN，BIJINGXINGYEJINGLILECHUANYUANCHENGBENZAIQIDIANFENGSHIQIGAOZHANGLE20%。

　　WULIAOFEIYONGFANGMIANDEXIAJIANGKANLAIYEBIAOXIANBUCUO，ZAI2013NIAN1.9%DEXIAJIANGLVDEJICHUSHANG，2014NIANHAIQUDELE2.4%DEXIAJIANGFUDU。ZHEIFANGMIANBIAOXIANZUIWEITUCHUDEYAOSHULINGBIANXINGSANHUOCHUANLE，QIYUNYINGZHEZUIDUOLUDE5.3%DEXIAJIANGLV，JINSUIQIHOUDESHIXIAJIANGLVWEI5.1%DE1000ZHI2000TEUDEJIZHUANGXIANGCHUAN。

山东11选5 　　ZUIHOULAIKANKANWEIXIUBAOYANGFANGMIAN，2013NIANZHEIFANGMIANDECHENGBENJIANSHAOWEI0.4%，2014NIANCHENGXIAOGENGHAO，DADAO0.6%。NENGYOUZHEIMEHAODEBIAOXIANZHUYAODEYIYU5000ZHI10000ZAIZHONGDUNDEYOULUNHE1000ZHI2000TEUDEJIZHUANGXIANGCHUAN，TAMENDEGONGXIANFENBIEWEI3.3%HE3.2%。BUGUOYUZHEIGECHAOLIUQUSHIXIANGFANDESHI，YANJIUXIANSHICHAODAXINGYOULUNHEJIAJIAOXINGSANHUOCHUANZAIWEIXIUBAOYANGCHENGBENSHANGFENBIESHANGSHENGLE2.5%HE1.8%。

　　GreinerZONGJIEDAO：“ZHONGSUOJIEZHI，HANGYUNYEZHENGCHUZAIGAODUJINGZHENGHEYUNLIGUOSHENGDESHIQI。CISHIZHAODAOYIZHONGLIANGXINGFANGSHI，BAYUNYINGCHENGBENRONGJINYUNFEIZHONG，SHIDEXINGYENENGYOUHELIDELIRUNBIANJI，ZHEISHIXINGYEDEZHONGDATIAOZHAN。WEILAIJINIAN，JISHIHAIYUNYUNFEIMEINIANDOUNENGYOUHELIDEZENGZHANG，DANWEIZUNSHOUFAGUIYEJIYOUKENENGHUITONGSHIDAILAICHENGBENDEMINGXIANSHANGSHENG，KEYIYULIAOZHEIDUANSHIJIANNEIDEYUNYINGCHENGBENYEHUIYIRANZENGZHANG。ZUIHOUWOXIANGSHUO，YOULIANGJIANSHISHIKENDINGDE：SHOUXIAN，CHUANBODEYUNYINGRENGSHIYIXIANGGAOCHENGBENDEYEWU;QICI，BUYAOJIXIWANGYUHANGYUNYEDEKEHULAITUIGAOYUNFEI。”