信贷活动中的灰市交易是利率市场化改革过程中特有的一种金融现象。它植根于利率的双轨制。目前,在我国专业银行向商业化经营机制转轨过程中,这种灰市交易已经滋生泛滥,且有蔓延之势。因此,很值得金融界人士注意并加以研究。 大家知道,在市场商品化资金的配置过程中,利率起着举足轻重的作用。我国金融 Gray-market transactions in credit activities are a kind of financial phenomenon peculiar to the interest-rate market-oriented reform. It is rooted in a dual system of interest rates. At present, during the transition from a specialized bank of our country to a commercial operation mechanism, this gray market transaction has already flourished and has a tendency to spread. Therefore, it is worth the attention of the financial community and to study. We all know that the interest rate plays a decisive role in the allocation of marketable capital. China’s finance