摘要
As a cornerstone of the financial market,government bonds are an important conjunction of fiscal and financial systems,and significant to high-quality economy development.Since the restart of local government bond issuance in China in 2009,its development has achieved remarkable results.At present,local government bonds have surpassed treasury bonds and policy financial bonds in scale to become the largest category in the bond market.Relying on the unique status and advantages of their main direct financing channels,local government bonds have produced effective and important support for supply-side structural reform.
