我国债券市场分割问题研究

发布时间：2018-04-22 00:34

本文选题：债券市场 + 托管结算体系　；参考：《宏观经济研究》2010年11期

【摘要】：自1997年建立银行间债券市场以来,我国债券市场取得了迅速发展,已经形成了以场外交易(银行间市场)为主、场内交易(交易所市场)为辅的债券市场体系。但从总量看,我国债券规模还比较小,同时,由于长期以来受观念和体制等方面的束缚,我国债券市场尤其是企业债券发展滞后,并在发行、交易、托管等环节上存在分割。我们认为,我国债券市场的发展的首要问题是统一债券市场的监管和托管结算体系,要实现我国债券市场的长远发展,必须从建立统一跨市场的托管结算体系的改革入手,打通交易所和银行间两个市场,实现债券在两个市场间自由流动,共同促进两个市场的发展。
[Abstract]:Since the establishment of the inter-bank bond market in 1997, China's bond market has made rapid development, and has formed a bond market system which is mainly over-the-counter (inter-bank market) and supplemented by in-exchange trading (exchange market). However, from the total amount, the scale of bonds in our country is still relatively small. At the same time, because of the restraint of concept and system for a long time, the bond market of our country, especially the enterprise bonds, lags behind, and it is divided in the aspects of issuance, transaction and custody. We believe that the most important issue in the development of China's bond market is to unify the supervision and custody settlement system of the bond market. In order to realize the long-term development of the bond market in China, we must start with the reform of establishing a unified inter-market trusteeship settlement system. Open the exchange and interbank markets, realize the free flow of bonds between the two markets, and jointly promote the development of the two markets.
【作者单位】：中国银行国际金融研究所;
【基金】：2010年度国家软科学研究计划项目“我国债券市场实现统一监管和集中托管的问题研究”(批准号:2010GXQ5B316)的阶段性成果
【分类号】：F832.51

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