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“’98中国债券市场发展研讨会”1月中旬在北京举行。债券市场作为我国金融市场的一个重要组成部分,为我国国民经济的持续稳定发展做出了卓著的贡献。截至1996年底,债券市场累计提供资金13285亿元,其中,国债融资7200亿元,金融债券融资4222亿元,企业债券融资2063亿元。与会代表认为,近十多年来,我国国债市场取得了很大发展,国债一级市场的发行量逐年增加,国债发行已经建立了以商业银行及证券机构为主体的国债承销组织,形成了国债销售渠道和分销网络;国债二级市场的流通规模也日益扩大,现阶段基本的流通市场格局是:以上海证券交易所为龙头的债券市场(上海证券交易所的国债成交量占整个国债流通市场的90%以上),投资主体有信托投资公司、证券公司、保
“98 China Bond Market Development Seminar ” held in Beijing in mid-January. As an important part of China’s financial market, the bond market has made outstanding contributions to the sustained and steady development of our national economy. By the end of 1996, the total amount of funds provided by the bond market was 1328.5 billion yuan, of which 720 billion yuan was treasury bonds, 422.2 billion yuan was financed by bonds, and 206.3 billion yuan was raised by corporate bonds. Participants said that over the past ten years, China’s treasury bond market has made great progress. The issuance of the treasury bonds has been increasing year by year. The issuance of treasury bonds has been established with the commercial banks and securities institutions as the main body of treasury bonds underwriting and the formation of treasury bonds Sales channels and distribution networks; the circulation scale of the secondary market of national debt is also expanding day by day. The basic circulation market pattern at this stage is: the bond market with the Shanghai Stock Exchange as the leading factor (the volume of the national debt of the Shanghai Stock Exchange accounts for the entire treasury bond circulation market Of the above 90%), the main investors are trust and investment companies, securities companies, insurance