search query: @indexterm NATIONAL DEBT / total: 100
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| Author: | Li, Fei |
| Title: | Some thoughts of constructing national bond market (original in Chinese) |
| Journal: | Theory and Practice of Finance and Economics (c)
1998 : 6, p.18-21 |
| Index terms: | NATIONAL DEBT BOND MARKETS CHINA |
| Language: | chn |
| Abstract: | There are three cognitional misconceptions in the developing process of government bond market in China. (1)Excessively high dependence of public finance on debt incomes. (2)The advantage of government bond lies in high interest rate. (3) The holding of government bonds by commercial banks will exert negative impacts on national economy. The future development direction of China's government bond market is to give full scope to financial market as regulator. The three strategical changes of government bond market should be done: (1)The scale of government bonds is to be transfered from strict control to proper expansion. (2) The interest rate of government bonds is to be transformed from non-marketing to marketing. (3)The structure of government bond holders is to be transferred from centering on individuals to focusing on institutional investors. |
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