Research on the Mechanism and Efficiency of China's Government Bond Market

Author: Li Xin
Publisher:
Publish Date: 2003-01-01
Features: The implementation of the Central Bank Law in 1994 and the adoption of fiscal policies in 1998 led to a sharp increase in government bond issuance, marking China's entry into the "era of government bonds" and making the government bond market a focal point. This book comprehensively explores the development of the government bond market from the perspectives of market mechanisms and efficiency. It begins with a sectoral analysis to demonstrate that the government bond market has inherent driving forces. Based on the principle that mechanisms determine efficiency, it points out that the development of the government bond market lies in optimizing mechanisms and improving efficiency. Next, it analyzes the structure of the market, including derivatives, and proposes recommendations for improving mechanisms, enhancing efficiency, and achieving steady development. Finally, it discusses issues related to the management of the government bond market and designs a comprehensive regulatory framework that includes management systems, legal institutions, stability mechanisms, and regulatory measures.