我国债券市场对外开放的现状、问题和对策探讨

Exploration on the Status Quo, Problems and Countermeasures of the Opening up of China’s Bond Market

我国债券市场对外开放是从三个方面展开的:一是大力引入境外投资者;二是发展离岸人民币债券市场;三是准许境外发行人发行以人民币计价的债券。从2005年到现在,虽然只有短短十几年,但已取得巨大进展。债券市场对外开放有力地推动了人民币国际化进程和债券市场改革的深化,并更有效地服务于各类经济主体。我国债券市场对外开放,从内部因素看,主要面临债券市场体制机制不完善、市场建设滞后和配套措施不力等问题。对于债券市场存在的这些问题,需要进一步从制度设计、市场建设和完善配套措施等方面入手,推进债券市场对外开放和健康发展。

The opening up of China's bond market is carried out from three aspects:first,vigorously introducing foreign investors;second,developing the offshore RMB bond market;and third,allowing overseas issuers to issue bonds denominated in RMB.From 2005 to the present,although it is only a few short years,great progress has been made.The opening up of the bond market has strongly promoted the internationalization of the RMB and deepened the reform of the bond market,and has served various economic entities more effectively.From the perspective of in⁃ternal factors,the opening up of China's bond market mainly faces problems such as incomplete bond market institu⁃tions and mechanisms,lagging market construction,and inadequate supporting measures.To solve these problems in the bond market,we should start from the aspects of system design,market construction,and improvement of sup⁃porting measures to promote the opening up and healthy development of the bond market.