债券通：中国债券市场开放新篇章

Bond Connect： A New Chapter in the Opening up of China＇s Bond Market

2017年7月债券通启航，揭开了境内债券市场开放的新篇章。债券通以其简化的人市流程、便捷的联通模式、快速的交易环节等优势，有力地提升了境外机构投资境内债市的热情。但与成熟国家甚至部分新兴市场国家相比，中国债券市场中境外投资者占比依然较低，境外投资者对国内债券市场熟悉程度仍然不够，文章分析了债券通业务存在的制约，并提出相关完善建议。

The introduction of Bond Connect in July 2017 has unveiled a new chapter in the opening up of China＇s domestic bond market. The Bond Connect scheme, with the advantages of simplified process for market access, convenient trade connection, and fast trade execution, has effectively enhanced the enthusiasm of overseas institutions in participating in China＇s bond market. However, compared with the developed markets and some emerging markets, the proportion of foreign investors in China＇s bond market is still low, as foreign investors do not know China＇s bond market well yet. The article analyzes the existing constraints in the Bond Connect scheme and proposes relevant recommendations.