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市场流动性不足和债券收益率曲线缺乏代表性是当今中国债券市场的主要缺陷。中国债市要取得大的发展,就必须针对上述缺陷,采取相应的措施。设立债券基金、发展银行柜台交易、实行国债余额管理、建立做市商制度、发展公司债券和债券衍生金融工具等途径应是我国债市今后的努力方向。
The lack of market liquidity and the lack of representation of the bond yield curve are the major shortcomings in today’s China bond market. To achieve the great development of the Chinese bond market, we must take corresponding measures in response to these shortcomings. The establishment of bond funds, the development of bank counter transactions, the implementation of the national debt balance management, the establishment of a market maker system, the development of corporate bonds and bonds derivative financial instruments should be the future direction of our bond market efforts.