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从我国目前的融资格局来看,进一步发展债券市场无疑是解决我国间接融资所占比重过大、直接融资发展严重不足的重要途径,也是降低金融风险、提高融资效率的必然选择。而要继续推进我国债券市场的完善和发展,一个必不可少的前提是,构建有效的债券市场监管框架。 从一般意义上说,有效监管意味着必须同政府保持适当的距离,同时要以基本的规划为前提和基础。首先,监管是在市场经济环境中发育成熟并用以弥补市场缺陷的一种行为和过程,监管产生的环境和背景就决定了这不是简单的命令与控制,而是政府在协商各利益相关者的利益立场后确立监管规则和监管程序,并授权一个
Judging from the current financing pattern in our country, further development of the bond market is undoubtedly an important way to solve the problem of excessive proportion of indirect financing in China and serious lack of direct financing. It is also an inevitable choice to reduce financial risks and raise financing efficiency. And to continue to improve the development of China’s bond market, an indispensable premise is to build an effective regulatory framework for the bond market. In a general sense, effective regulation means that you must maintain an appropriate distance from the government, while taking basic planning as a precondition and foundation. First of all, regulation is a kind of behavior and process that matures in the market economic environment to compensate for market imperfections. The environment and background of regulation determine that this is not a simple order and control. Instead, the government is negotiating various stakeholders Establish the regulatory rules and regulatory procedures after the interest position and authorize one