我国国债发行40年:演进历程、主要成就与发展建议  

40 Years of National Debt Issuance in China:Evolution,Major Achievements and Development Suggestions

作　　者：韩文琰 田静[2] 

机构地区：[1]中国劳动关系学院经济管理学院 [2]北京青年政治学院现代管理学院

出　　处：《价格理论与实践》2022年第3期123-126,共4页Price:Theory & Practice

基　　金：博士基金项目“北京地方政府隐性债务风险的防范研究”(项目编号:BS202002)。

摘　　要：考察我国国债恢复发行40年的历程,发现无论从发行规模、发行方式、交易品种,还是从制度建设、国债功能与国际化进程上看,都有很大进步。本文分析我国国债取得的重大成就,研判新的发展使命。未来,我国国债改革依然在路上,国债发行既要注意发行规模与发行频率,也要关注其利率结构与期限结构引致的风险防范。面对国内外环境变化,应有新的使命担当:第一,要树立辩证思维推动国债市场国际化;第二,要运用数字技术优化国债结构;第三,要坚持开创精神完善国债衍生工具市场。Reviewing the 40-year’s history of the resumption of the issuance of China’s national debt,this paper shows that there has been great progress in terms of the issuance scale,issuance mode,transaction varieties,as well as the system construc-tion,national debt function and internationalization process.This paper analyzes the major achievements of China’s national debt and judges the new development mission.In the future,China’s national debt reform is still on the road.The issuance of national debt should pay attention to not only the issuance scale and frequency,but also the risk prevention caused by its interest rate structure and term structure.Facing changes in the domestic and international environment,there should be a new mission:firstly,we should establish dialectical thinking to promote the internationalization of the treasury bond market;Secondly,we should use digital technology to optimize the structure of national debt;Thirdly,we should adhere to the pioneering spirit and improve the treasury bond derivatives market.

关 键 词：国债发行 国债交易 国债一级市场 国债市场国际化 

分 类 号：F812.5[经济管理—财政学]