推进我国债券市场发展的若干问题再认识——兼论资本市场功能的完善

发布时间：2018-03-08 12:38

本文选题：债券市场　切入点：资本市场功能　出处：《证券市场导报》2010年04期 　论文类型：期刊论文

【摘要】：我国资本市场历经近20年发展,成就令人瞩目,但资本市场重股市轻债市发展的跛脚现象也愈加明显。本文认为,应同时注重债市与股市的齐头并进,以增强我资本市场国际竞争力。债市发展首先是要梳理并重视债市的制度建设,其次是要将债市发展作为健全资本市场功能的重要一环来抓,使之真正发挥起为实体经济服务的作用。此外,要同时研究债券市场自身建设的一些核心问题,比如统一标准和协同监管问题,对内对外的进一步改革开放问题,等等。而在这一建设进程中,更要积极推进并认真落实我国债券市场的统一互连问题,惟此才能使形成的利率较真实地反映市场实际供需,进而彻底改变目前银行间市场的卖方市场特色和交易所市场的买方市场特色,最终为形成更贴近市场的可供参考的中国收益率曲线打下基础。
[Abstract]:After nearly 20 years of development, China's capital market has made great achievements, but the unbalanced capital stock market and bond market development is more obvious. It should also pay attention to in the bond market and the stock market, to enhance the international competitiveness of China's capital market. The first is the development of the bond market system construction should be combed and the importance of the bond market, the second is to the development of the bond market will improve the capital market functions as an important part of the task, which really play to the role of serving the real economy. In addition, at the same time to study some key issues in the bond market building, such as unified standards and collaborative regulatory issues, to further reform and opening up, and in the process of foreign and so on. This construction, we should actively promote and conscientiously implement the unification and interconnection of China's bond market, thus the interest rates reflect the actual supply and demand in the market. To completely change the seller's market characteristics in the interbank market and the buyer's market characteristics of the exchange market, we will finally lay a foundation for China's yield curve to be closer to the market.

【作者单位】：中国证券监督管理委员会;
【分类号】：F832.51

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