Empirical Research on the Operation of China's Bond Secondary Market: A Comparative Analysis of the Exchange Bond Market and the Interbank Bond Market

Author: Yuan Dong
Publisher:
Publish Date: 2004-07-01
Features: This book primarily consists of two parts and five chapters. Part I is also the content of Chapter 1, which provides an overview and analytical summary of the development and evolution of China's bond market. This section summarizes and briefly describes the development history and current status of both the bond issuance market and the secondary market, offering a background and foundation for the empirical research in the main body of the book. The second part is the core and main body of the book, comprising four chapters. Centered around key concepts such as bond market liquidity, volatility, and yield curves, it conducts empirical research and comparative analysis on both the Shanghai Stock Exchange bond market and the Interbank Bond Market, supported by a wealth of data from these markets. Based on the empirical research, it summarizes and generalizes the operational patterns of China's bond market.
Chapter 2 analyzes bond market liquidity, proposing methods and indicators for measuring bond market liquidity. It conducts specific calculations and measurements of liquidity in both the Shanghai Stock Exchange and the Interbank Bond Market, followed by a comparative analysis of liquidity between the two markets.
Chapter 3 analyzes bond market volatility, proposing methods and indicators for measuring bond market volatility. It measures and compares the volatility of both the Shanghai Stock Exchange and the Interbank Bond Market.
Chapter 4 analyzes bond market yield curves. Building on research into the characteristics of yield curve fluctuations in both the Shanghai Stock Exchange and the Interbank Bond Market, it focuses on analyzing the factors influencing the yield curves of both markets and conducts a comparative study of these factors.
Chapter 5, based on the descriptive analysis and empirical research conducted earlier, offers insights into the development strategy of China's bond market, with a particular focus on the bond secondary market.