国内债券市场

瑞银（UBS）负责亚洲债券辛迪加业务的弗格斯爱德华兹（FergusEdwards）说：过去五年来，中国国内债券市场逐步前进，市场深度和老练度不断增强。

Fergus Edwards , head of debt syndicate in Asia at UBS , said : Over the past five years we have seen Chinese domestic bond markets take incremental steps forward , adding both depth and sophistication .

此外，Gemloc也是对八国集团一项行动计划的响应。该计划旨在促进国内债券市场发展，是在今年五月在菠茨坦召开的八国集团财长会议上宣布的。

Gemloc also responds to a G8 Action Plan for the development of local bond markets announced in May by finance ministers meeting in Potsdam .

但它仍显示出中国国内债券市场的深度有望加大。

Still , it is a gesture towards a deeper domestic bond market .

第七，逐步开放国内债券市场；

Seventh , open the domestic bond market ;

马森相信，分享新兴市场增长的最佳方式，是通过国内债券市场。

Mr Marson believes the best way to get exposure to emerging markets is through the domestic bond market .

你知道世界第二大和第三大最具流动性的国内债券市场是哪两国吗？

You know what the second and third largest , most liquid domestic bond markets are in the world ?

撒哈拉以南非洲国家的国内债券市场大多不发达，南非和尼日利亚在这些市场占据着压倒性的主导地位。

Domestic bond markets in sub-Saharan Africa are largely undeveloped and are overwhelmingly dominated by South Africa and Nigeria .

另一个关键原因在于，在中断6年后，国内债券市场重新对房地产开发商开放了。

Another key reason was the re-opening of the domestic bond market to property developers , following a six-year hiatus .

超日太阳成为中国国内债券市场上第一家违约的公司。

Shanghai Chaori Solar has become the first company of any stripe to default in China 's domestic bond market .

对存款基数较低、国内债券市场欠发达的新兴经济体市场来说，这些因素会让信贷增长更加缓慢。

For emerging markets that have shallow deposit bases and undeveloped domestic bond markets , it all adds up to slower credit growth .

如果它无法履行这一义务，这将成为中国国内债券市场上首次本金违约。

If the company fails to meet its obligations , it would mark the first principal default in China 's domestic bond market .

要刺激国内债券市场的发展，可以利用解除管制、对外资开放市场、进行独立的信用研究和加大金融创新力度等方式。

Local bond markets can be stimulated by deregulation , opening markets to foreign investors , independent credit research and greater financial innovation .

但长期以来国内债券市场处于政府监管部门严厉的控制下，普通企业缺乏公司债融资的渠道。

However , under the severe control and supervision of domestic government , many companies lack of channels for issuance of corporate bond .

近年来，国内债券市场蓬勃发展，以企业债、中期票据为主的信用产品发展速度惊人。

In recent years , the domestic bond market is booming , corporate bonds , medium-term notes based credit product development at an alarming rate .

世界银行敦促亚洲各国加快国内债券市场的发展，以满足市政工程筹资的巨大需求。

The World Bank urged Asian countries to speed the development of their domestic bond markets to meet the huge demand for public works financing .

随着中国多层次资本市场的逐渐完善，发展债务抵押证券也将对国内债券市场创新显示出积极的作用。

With the development of the multi-level capital market in China , collateralized debt obligation will show its positive benefit to the innovation of China debt market .

基金管理公司称，由于中国债券的收益率远高于欧洲、日本及其他发达市场以固定收益机会为特点的债券，预计境外投资者对中国国内债券市场的兴趣将继续增加。

Such overseas interest in domestic Chinese bonds is expected to continue , say fund managers , because the yields available are far superior to those that characterise fixed-income opportunities in Europe , Japan and elsewhere in developed markets .

他表示，中国必须先放松其对利率的控制，并提高国内债券市场的深度，再开放资本账户，以减轻投机资本蜂拥而至、本土企业积累过多外债的风险。

He said China had to ease its control of interest rates and deepen the domestic bond market before opening the capital account to lessen the risk of speculative capital rushing in and local companies accumulating dangerously big foreign debts .

但要想人民币发挥巨大的国际作用，人民币首先必须实现完全可兑换，而中国也需要一个深厚的国内债券市场，这两项改革可能需要几十年，而不是几年。

But before the renminbi can play a large international role , it will need to be fully convertible and China will need a deep domestic bond market two reforms that could be a question of decades rather than years .

然而，国内债券市场上缺乏合适的避险工具，债券投资者的利率风险管理手段仍比较落后，有关国债利率风险免疫方面的研究尚处较低水平。

Study on the Immunization of Interest Risk of the Investment in Government Bonds At the same time , the risk management toolkit of treasury investors is still poor and the research on immunization strategies in China is in a low stage .

本文在理论阐述的基础上对国内债券市场中期票据的信用利差进行实证分析，以各种宏观指标作为解释变量，得出相关结论并试图通过模型分析找出它们之间存在的内在关系。

This paper did the empirical analysis of the medium-term notes of credit spreads based on the theoretical explanations , and draw relevant conclusions then attempted to identify the inherent relationship that exists between them by models using a variety of macroeconomic indicators as explanatory variables .

最后，通过对控制变量与资本结构相关关系的分析，本文对中小企业偏好短期债务融资的原因进行了可能的分析。并对中小企业的资本结构选择以及国内债券市场的发展提出了建议。

Finally , through the analysis of the correlation between the control variables and capital structure , this paper analyzes the possible causes why SMEs have strong preference for short-term debt and provides suggestion for the choice of capital structure and the development of domestic bond market .

7月，中国央行向外国央行、主权财富基金和世界银行（WorldBank）等多边金融机构，扩大了进入中国国内庞大债券市场的通道。

In July , the central bank widened access to its vast domestic bond market for foreign central banks , sovereign wealth funds and multilateral financial institutions such as the World Bank .

但是国内对于债券市场流动性的实证研究还比较缺乏。

However , empirical studies of the domestic bond market liquidity are still relatively scarce .

然而长期以来，由于我国资本市场一直呈现股市强、债市弱的格局，人们并不太重视债券这个融资渠道，因而国内对债券市场的研究仍然相当薄弱。

While in China , people pay much attention to the equity market and there is little research about bond market .

然而长期以来，人们并不重视债券这个融资渠道，因而国内对债券市场的研究仍然相当薄弱。

In China , bond market has received little attention for a long time and the research on the bond market is still weak .

必须开发更有深度和广度的国内债券和股票市场，使它们成为银行之外的储蓄和投资中介。

Deeper and broader domestic bond and equity markets must be developed as an alternative to bank intermediation for savings and investment .

中国将允许境外央行和银行投资中国国内银行间债券市场，此举旨在鼓励人民币国际化。

China will allow foreign central banks and overseas lenders to start investing in its domestic interbank bond market , in a move aimed at encouraging internationalisation of the Chinese currency .

据称，他们这么做是为了从相关券商得到金钱和其它好处，券商据称利用这些信息在官方数据发布之前预测国内股票和债券市场走势。

They were said to have acted in exchange for payments and favours from brokerages that allegedly used the information to predict domestic equity and bond market movements before official data releases .

从监管体系、法律制度、公司债市场基础制度方面分析了国内外公司债券市场保障制度的主要内容。

The chapter analyzes the main content of guarantee system of domestic and foreign corporate bond market from such aspects as the regulatory system , legal system , and fundamental system of corporate bond market .