一、为什么要给债券发行设立成本衡量标准为债券发行设立成本衡量标准是市场化筹资的必然选择。2004年7月以前,农发行的资金来源主要以人民银行再贷款为主,此时对筹资活动的绩效考核是不包括成本因素的。一方面是因为再贷款利率是由人民银行确定的且较为稳定,农发行既没有定价 First, why should the issue of bonds to set a cost measure for the issuance of bonds to establish cost measurement is the inevitable choice of market-oriented financing. Prior to July 2004, the main source of funding for the ADBC ​​was the repayment of loans by the People’s Bank of China. At this time, the performance evaluation of fund-raising activities did not include the cost factor. On the one hand, because the interest rates on refinancing are determined by the People’s Bank of China and are relatively stable, the ADB has neither pricing nor