Under this circumstance , our treasury bond market exits lots of shortfalls which impede further development for this market . in this essay , combining with the experience in developing country " s experience , it analyses some challenges which confronted chinese bond market , such as liquidity in the interbank market has yet to be improved , duration in bond products are yet to be rational , a sound yield curve is yet to be take shape , the separation between exchange and interbank yet to be broken . in order to solving above issues , this essay suggests that it should develop market maker system to increase market liquidity ; manage balanced treasury bond ; issue short and long term treasury bond in proportion to improve duration and yield curve ; develop bond derivative products such as future trading , open style repurchasement , so it can provides tools for risk protection 但随着我国经济的快速发展,金融市场已今非昔比,中国成为了世贸组织的成员,中国资本市场要走向国际化,利率的市场化是大势所趋,在此前提下,我国国债市场还存在着很多不足,越来越阻碍着国债市场的进一步发展,本文结合世界发达国家的先进经验,剖析了我国国债市场存在的一些问题如:流动性有待改善、国债期限结构不合理、无法形成科学合理的益率曲线、交易所市场与银行间市场割裂等,为解决这些问题,本文建议应发展做市商制度以提高市场流动性;实施国债余额管理,发行短期国债及长期国债,改善国债期限结构,以形成科学合理的收益率曲线;发展债券衍生金融创新工具如国债期货交易、开放式回购等,为投资者提供避险工具等等。
Using chile ' s successful experience for a reference while considering the situation of our co untry , we shows that the convert cost could be simulated through the following fund raising methods : 1 . the circulation of the stock from the decreasing holding of state owned corporation , liquidating or appropriating parts of state owned assets , levy special duty and use it to simulate some convert cost . 2 . through issuing welfare lottery to raising money to simulate convert cost in the same time levy social security duty in order to solve the problems in raising social security fund 借鉴智利成功经验,并结合我国实际,我们认为,我国社会保障制度的转制成本可以通过以下一些筹资渠道来进行消化:国有股的减持流通;变现或划拔部分国有资产;调整国家财政支出结构:通过发行类似智利“认可债券”的特种长期国债;征收特种税,将税收所得用于消化部分转制成本;通过发行福利彩票筹集资金来消化部分转制成本。
长期: over a long period of time; ...国债: national debt; government lo ...美国长期国债: t-bond(treasury bond)短期国债: short term bills; t-bills; treasury bills中期国债: treasury notes美国长期国债(期限为20年或30年): t-bond (treasury bond)美国短期国债: t-bill美国中期国债: t-note长期国策: long term national policy; long-term national policy长期国会: long parliament长期国库券: buono del tesoro poliennale; exchequer bond; long-term treasury bond; treasury bond长期建设国债: long- term treasury bonds for construction; long-term treasury bonds for construction; long-term treasury bonds for development国库债券;长期国库券: treasury bond库存债券,长期国库券: treasury bond发行长期建设国债: issue long-term construction treasury bonds美国短期国债(每星期发行一次): t-bill (treasury bill)美国中期国债(期限为2年到10年): t-note (treasury note)无风险回报,相当于90天期国债回报: risk-free return国债: national debt; government loan水文领域长期国际合作方案: long-term programme of international cooperation in the field of hydrology国债(乐队): bond国债券: national bond长期: over a long period of time; long-term; long range; secular 作长期打算 take a long view; make long-term plans; 长期观点 a long-term view; 长期存在的问题 a long-standing problem; 这个实验结果长期不显著。 the result of this experiment was not noticeable for a long period.; 长期保险 long term insurance; 长期产品脱销 chronic shortage of some products; 长期储藏 standing storage; 长期储蓄 permanent saving; 长期存款 long-term deposits; 长期贷款 long-term loan; 长期订单 standing order; 长期负债(借款) funded debt;funded liabilities; 长期国策 long-term national policy; 长期居留证 long-term residence permit; 长期徘徊不前 protracted stagnation; 长期失业 chronic unemployment; 长期投资 permanent investment; 长期债券 long-term bonds; 长期债券利率 long rate; 长期债权 long-term claims; 长期债务 funded debt; 长期债务还本付息 payment on long-term debt; 长期资产 long-term assets; funded property;long-lived assets; 长期准许证 standing permit短期国库券: exchequer bill; kurzfristige staatsobligation; sb short bill; short term treasury bond; short-term treasury bill; short-term treasury bond; treasury bill (t. bill/bill); treasury bills(t-bills)近期国库券: short bills