2011                            
                                                                             1 
                                                                             2 
                                                                             3 
                                                                             4 
                                                                             5 
                                                                             6 
                                                           CAGR CAGR CAGR 
                                                           (08-09) (09-10) (10-11E) 
        80 
                                                            39%  19%  16% 
                                              72           160%  49%  28% 
                                                           160%  44%  27% 
                                                             9%  17%  26% 
                                   62                13%         26%  20% 
        60                                          
                                                           106%  17%  18% 
                         52                  
                                                            63%  21%   7% 
        40     38 
        20                                                  19%  16%  16% 
         0 
              2008      2009       2010      2011E 
                                                              CAGR CAGR CAGR 
                                                             (08-09) (09-10)  (10-11E) 
         60                                           58.5 
                                                              36%  22%   16% 
                                                       1 
                                                              82%  33%   22% 
                                                    5000 -1 
                                         50.3                 23%  14%   11% 
                            41.1 
         40 
                30.2 
                                                     1000 - 
                                                              36%  23%   17% 
                                                     5000 
         20 
         0 
               2008         2009         2010        2011E 
                                                                             7 
                                                            CAGR CAGR  CAGR 
                                                            (08-09 ) (09-10 ) (10-11E ) 
        20 
                                                    17.7 
                                                            38%  24%  18% 
                                        15.0         1      74%   38%  28% 
         15 
                           12.1 
                                     

招商银行财富报告.pdf