我国银行间债券市场进一步创新的路径探讨

A study on further innovations in developing the interbank bond market

近年来我国银行间债券市场发展成效显著,其中,在防范风险前提下对创新的鼓励为市场发展提供了重要动力。该文从宏观和微观两个层面归纳了我国银行间债券市场的创新原则,并从基础产品创新、金融衍生品创新、做市商及其配套制度创新、发行与结算方式创新等多个角度提出银行间债券市场进一步创新的潜在方向。

China＇s interbank bond market has been developing effectively in recent years, and one important impetus is to encourage innovations on the basis of risk control. This paper summarizes the principles of innovations in China＇s interbank bond market from both macro and micro prospects, and suggests possible directions for further moves in the market from perspectives such as fundamental product innovation, innovation of financial derivatives, innovation of market-maker system, and innovations of issuing and settlements.