关于我国债券市场分割的现状、问题及建议

China's Bond Market Fragmentation:Current Situation,Problems and Suggestions

文章从立法体系、监管体系、交易体系和托管体系等四个方面分析了我国银行间和交易所债券市场分割的主要特征,指出其导致了债券市场公平性、透明度、流动性和交易便利性等方面问题。文章就此提出相关政策建议。

The paper analyzes the fragmentation between China's interbank bond market and the exchange bond market from four aspects:the legislative system,the regulatory system,the trading system and the custody system.It points out that the market fragmentation raises issues in the fairness,transparency,liquidity and transaction convenience of the bond market.The paper then puts forward relevant policy recommendations.