美元和日元外国债券市场与离岸债券市场比较研究  

A comparative study on foreign bond markets and offshore bond markets

作　　者：袁沁敔[1] 漆鑫[1] 

机构地区：[1]中国银行问市场交易商协会信息研究部

出　　处：《中国货币市场》2014年第2期45-48,共4页China Money

摘　　要：债券市场对外开放，对于促进人民币跨境使用具有重要意义。文章通过对美元和日元外国债券市场和离岸债券市场的比较研究，发现由于管制落差的存在，离岸债券市场发展明显快于外国债券市场，同时，离岸债券市场发展对在岸的外国债券市场发展具有明显的促进作用。文章指出，应通过减少对在岸外国债券市场的管制、有效利用香港等离岸人民币债券市场的创新优势等手段，进一步促进我国债券市场的对外开放效率和健康发展。The opening up of bond market is important for cross-border use of RMB. The article makes a comparative study on Yankee/Samurai bond markets and offshore bond markets, which reveals that the development of offshore bond markets is more rapid than that of foreign bond markets due to regulatory difference, which also facilitates the development of onshore foreign bond markets. As pointed out in the article, the effectiveness of opening up and healthy development of China＇s bond market should be further enhanced through relaxing control of onshore foreign bond markets and taking advantage of the offshore RMB bond market in Hong Kong.

关 键 词：欧洲美元债券 欧洲日元债券 扬基债券 武士债券 

分 类 号：F832.5[经济管理—金融学]