摘要
发展金融市场的直接目的不是促成金融体系的稳定,但金融市场的发展还是有可能对于金融运行的稳定产生积极的促进作用,尤其是在促进金融宏观调控机制的完善方面。银行间债券市场经过6年多的发展已成为中国金融市场最重要的组成部分,有力地促进了央行货币调控机制从行政性为主向市场化为主的转换,从而也为央行提供了日益强大的促成金融稳定的政策工具。当然,央行还应从增加货币市场工具种类、完善市场基础设施等方面大力发展货币市场。
Financial market development,whose primary objective is not to stabilize financial systems,is likely to play a positive role in promoting stable financial operations, especially in regards to perfecting the financial macro adjustment mechanism.The interbank bond market, with its growth over the past six years,has become the most important component part of China's financial market.Through its operations,the interbank bond market has facilitated the central bank's monetary adjustment mechanism transfer from an administration to market-oriented system,and thus has provided the central bank with an increasingly effective policy instrument for financial stability.The central bank, however,should spare no effort to develop the money market for enriching trade instruments and improving market infrastructure.
出处
《中国货币市场》
2003年第12期4-8,共5页
China Money
