建设中国多层次黄金市场体系研究

中国黄金行业市场化改革以来,黄金市场发展迅速,交易规模不断扩大。但与世界成熟的黄金市场相比,中国的黄金市场尚存在不小差距,并且在国际黄金定价方面尚无话语权,影响了黄金和黄金市场在中国经济发展过程中应有之积极作用的发挥。本文对国内外黄金市场及其体系进行比较,对场外衍生品市场进行反思,借鉴成熟黄金市场体系的经验教训,提出了建设中国多层次黄金市场体系的路径和方式。

Gold market in China has developed rapidly and the turnover of gold transaction kept increasing since Chinese gold market reform. However, compared with mature gold markets, Chinese gold market is still underdeveloped and has no discourse power in international gold pricing. Thus, the active function of gold market in China can not bring into fully play in economy development.In this paper, we compared Chinese gold market with other markets, and considered OTC derivatives market as well. Based on experiences of mature gold markets, we provide the paths and methods of constructing a multi-level gold market system in China.