对恢复我国国债货交易的思考与建议.pdfVIP

摘 要 在中国 国债期货交易并不是一个新事物 从1993 年 10 月上 海证券交易所推出国债期货试点交易到1995 年5 月暂停不到两年的 时间 国债期货交易引起了很多人的思考 遭到一些人的怀疑 现在 人们提到国债期货仍心有余悸 但是作为金融市场利率的主要避险工 具 国债期货是任何一个成熟的金融市场所必不可少的 随着中国金 融市场的逐步开放 利率市场化的实现以及经济改革的深化都对恢复 国债期货交易提出了迫切的要求 本文从国债期货产生的历史开始谈 起 结合我国国债期货从交易试点到暂停的重要历史事件分析了当时 我国国债期货交易试点失败的原因 随着中国加入 WTO 经济全球 一体化趋势不可阻挡 国债期货的推出也势在必行 而近几年我国经 济的飞速发展以及期货市场逐渐步入法制化发展轨道为恢复国债期 货提供了日臻完善的基本条件 最后提出了作者对恢复国债期货交易 一些自己的见解 关键词 国债期货 国债现货 利率市场化 Abstract In China, Treasury Bond Futures is not a piece of new things Shanghai Stock Exchange introduce Treasury Bond Futures pilot trade delay less than two years from October 1993 to May 1995, Treasury Bond Futures cause a lot of thinking of people, suffer some suspicion of people, now people mention that the Treasury Bond Futures still have a lingering fear. But regarded as the main hedging instrument of the interest rate of financial market, the Treasury Bond Futures are essential to any ripe financial market. Financial market gradual to open with Chinese, interest rate market-based realization and to resume promotion of economic reform Treasury Bond Futures gets the urgent request out of. The text speaks from history in which the Treasury Bond Futures produce begins, combine of our country Treasury Bond Futures from pilot project of trade to suspension important historical incident analyses of our country Treasury Bond Futures reason that pilot project failed at that time; Join WTO with China, economy global integrated trend irresistible, Treasury Bond Futures have more imperative introductions even; and of our country economy development and forward market step into legal development track offer primary condition that become better and