东亚债券市场发展及其启示

Implication of East Asian Bond Market Development to China

东亚危机过后,东亚许多国家都把发展债券市场作为解决金融体系脆弱性的重要任务,出台了一系列有利于债券市场发展的重大措施,使债券市场特别是公司债券市场有了长足的发展。从东亚主要经济体特别是马来西亚债券市场发展过程中的主要经验来看,债券市场发展特别是公司债券市场的发展需要总体规划、统一监管体制、更新监管理念和完善市场基础设施。这些对于在东亚经济体中债券市场发展相对落后的中国具有借鉴意义。

Since 97’financialc risis,initiativesh ave been taken by most East Asian countries to boost bond market and address existing problems in financial systems. Great developments have been seen ever since. As reflected in East Asian markets, an integrated strategy and regulatory system, updated methodology and advanced infrastructure are essential to bond market and corporate bond market, in particular, which has lots of implication to China.