市场化进程中的中国国债政策（Chinas national debt policy in the process of Marketization）.docVIP

市场化进程中的中国国债政策（Chinas national debt policy in the process of Marketization） Chinas national debt policy in the process of Marketization Chinas national debt policy in the process of marketization 2008-12-20 15:11:15 Since the resumption of treasury bonds in 1981, China has nearly 20 years of history. As of the end of 1997, China issued 905 billion 781 million yuan of treasury bonds, the total amount of principal and interest payments 512 billion 894 million yuan. The debt recovery issue, not only effectively makes up the deficiency of Chinas fiscal revenue, and promote the stable development of our national economy, but also meet the needs of the whole society a variety of different investors, and to promote the development of Chinas bond market and monetary market and capital market, also play a very important role. In 1998, facing the complicated and severe domestic and international economic environment, China adopted a proactive fiscal policy and an appropriate monetary policy to ensure the steady growth of the economy. Among them, as a bridge linking fiscal policy and monetary policy, the national debt policy marked by the issuance of 270 billion yuan special treasury bonds and the issuance of 100 billion yuan and 10 year treasury bonds is particularly attractive. Then, what kind of national debt policy is being implemented in our country, and what kind of national debt policy should we adopt under the macro background of market-oriented reform? This paper from the national debt scale, issue bond market selection, construction and local government bonds and other aspects, the basic situation of the national debt of our country in recent years, the main problems and policy direction in the future, make a brief description. First, we should appropriately control the growth rate of the current national debt scale China began to rely on fiscal deficit bonds from 1994, so since 1994, Chinas national debt scale is growing fast (see Table 1), of which the annual issue