金融变革中的中国国债市场功能定位与发展策略

Functional Positioning and Development Tactics of National Debt Market in the Financial Reform of China

国债市场发展与金融可持续发展具有十分密切的关系,中国金融改革的深化更是离不开国债市场金融功能的完善及有效发挥。但转型背景中确立的中国国债市场,其定位存在着重财政筹资和轻金融调控的功能扭曲。因此金融变革对于中国国债市场的发展提出了更为迫切的要求。一方面完善包括立法在内的国债运行与管理制度;另一方面完善国债市场体系。这对于中国国债市场发展而言,至关重要。

The national debt market development is very closely related to the financial sustainable development in China. The deepening of China＇s financial reform is inseparable from the national debt market development. However, the Chinese national debt market established in the context of restructuring has distortion of the function positioning paying attention to the financing and ignoring financial control. Therefore, it becomes more urgent and important to improve both the operation and management system for the national debt market in China including legislation and market system.