据财政部、中国人民银行组织的有关专家对今年以来的国债市场改革情况进行调研后认为,今年上半年,我国国债市场改革实现重大进展,在很多方面取得了重大突破,初步呈现出一个现代化的国债市场轮廓。专家指出,国债市场改革在今年上半年逐步改变了过去那种通过高息吸引投资者来发行国债的做法,探索性地推出了五种招标发行方式,使国债的流通性逐步增强。今年以来,中央银行开始运用公开市场操作业务实施货币政策,并规定国有专业银行的备付金中可以含有一定比例的国债。从而,国债成为政府调控宏观经济乃至资金市场的重要工具,财政、金融两大政策实现了一体化,货币市场和资本市场开始相互沟通。 According to relevant experts organized by the Ministry of Finance and the People’s Bank of China on the state treasury bond reform since the beginning of this year, it is believed that in the first half of this year, tremendous progress was made in the reform of the treasury bond market in our country. In many aspects, a major breakthrough was made and a modern Treasury market profile. Experts pointed out that in the first half of this year, the reform of the government bond market gradually changed the past practice of attracting investors through high interest rates to issue government bonds and explored five bidding and issue ways to gradually increase the circulation of government bonds. Since the beginning of this year, the Central Bank has started to use open market operations to implement its monetary policy and stipulated that the reserve fund of state-owned specialized banks may contain a certain proportion of national debt. As a result, the government bonds have become an important tool for the government to control the macroeconomy and even the capital market. The two major financial and financial policies have been integrated and the money market and the capital market have begun to communicate with each other.