中国债券市场债券封闭式回购与开放式回购比较研究

Comparative Study of Close - end and Open - end Repurchase in China's Bonds Market

本文通过对中国银行间债券市场与交易所债券市场封闭式回购与开放式回购比较研究,得出在目前市场环境下,决定回购利率因素及变量关系和这两种形式回购交易特点。

Through the comparative study of close - end and open - end repurchase both among banks and in the exchange market, the authors try to illustrates the trade characters of the two kinds of repurchases, the factors determining repurchase rate and the relationship between them in current market environment.