中国银行间债券市场对外开放回顾和展望

Prospects for an Opening of the Interbank Bond Market

目前我国银行间债券市场流动性不断改善、收益率在国际上具有吸引力、与境外联动性较低有利于分散风险,叠加人民币国际化以及资本账户开放下的诉求,本文认为开放我国银行间债券市场有较大的市场需求以及必要性。

Liquidity on China's interbank bond market is steadily improving as bond yields become more attractive. The relative insulation of the market from external factors makes it an attractive area for diversifying risk. With the prospect of a more international renminbi in the future coupled with an opening of China's capital account, the author contends that it is essential to remove curbs on foreign participation in the market amid growing demand.