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应大力促进香港短期货币市场和长期资本市场的协调发展,进一步完善内地和香港人民币债券市场监管协调机制2007年以来,香港人民币债券市场发展很快,并呈现出超额认购较为普遍等特点。笔者认为,应大力促进香港短期货币市场和长期资本市场(包括债券市场和股票市场)的协调发展,货币政策可以从总量上考虑香港人民币债券市场的影响,进一步完善内地和香港人民币债券市场监管协调机制。
We should vigorously promote the coordinated development of Hong Kong’s short-term money market and long-term capital market and further improve the regulatory coordination mechanism for the renminbi bond market in the Mainland and Hong Kong. Since 2007, the RMB bond market in Hong Kong has been developing rapidly and is characterized by over-subscription. In my opinion, we should vigorously promote the coordinated development of Hong Kong’s short-term money market and long-term capital markets (including the bond market and the stock market). Monetary policy can consider the impact of the RMB bond market in Hong Kong in aggregate terms and further improve the supervision over the RMB bond market in the Mainland and Hong Kong Coordination mechanism.