持续推动信用风险缓释工具创新与发展  

NAFMII Efforts in Tool Innovation in Credit Risk Mitigation

作　　者：吴昌柱 张莉 王晓曲 

机构地区：[1]中国人寿资产管理有限公司固定收益投资部

出　　处：《金融市场研究》2022年第10期32-40,共9页Financial Market Research

摘　　要：国内信用风险缓释工具市场发展十余年,经历了全球金融危机中破茧而出、规则不断调整完善、借政策东风助力化解民企融资困局,以及多措并举激发市场活力等四个主要阶段,目前已初具规模和影响力。其间,交易商协会的不懈创新,是信用风险缓释工具市场持续发展的重要支撑,创新与成长相辅相成。展望未来,信用风险缓释工具前景广阔,但也面临市场基础设施不完善、流动性和活跃度较低、交易定价不合理以及其他内外部因素的制约,有赖市场各方的进一步创新引领。The domestic credit risk mitigation tool market has had more than a decade of development,emerging from the global financial crisis,constantly adjusting and improving rules,helping to resolve the financing dilemma of private enterprises,and taking multiple measures to stimulate market vitality.Over that period,NAFMII’s unremitting innovation has been an important support for the sustainable development of the credit risk mitigation instrument market.Looking ahead,credit risk mitigation tools have bright prospects,but they are constrained by imperfect market infrastructure,low liquidity and activity,unreasonable transaction pricing,and other internal and external factors.Future development depends on further innovation by all parties in the market.

关 键 词：信用风险缓释工具 创新 展望 

分 类 号：F832.51[经济管理—金融学]