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债券市场最重要的新生力量、最饥渴的资金需求者就是企业,非金融企业债将是今后中国债券市场发展的重点。根据中国人民银行公布的《2010年金融市场运行情况》报告,2010年央行票据、国债和政策性金融债合计发行量约占发行总量的80%。“国债发行受预算情况制约,扩张十分有限;政策性银行也正在转制过程中。”嘉实基金管理有限公司副总经理兼投资总监戴京焦说。因此,“债券市场最重要的新生力量、最饥渴的资金需求者就是企业,非金融企业债将是之后中国债券市场发展的重点。”戴京焦表示。还在“借新还旧”?“非金融企业是社会创造价值的主体,直觉上应当是非金融企业债务融
The most important new-born force in the bond market and the most hungry fund-taker are enterprises. Non-financial corporate bonds will be the focus of the development of China’s bond market in the future. According to the ”Financial Market Operation in 2010“ report released by the People’s Bank of China, the total circulation of bills, treasury bonds and policy financial bonds by the central bank in 2010 accounted for about 80% of the total. ”The issuance of treasury bonds is subject to budget constraints and the expansion is very limited. The policy banks are also in the process of restructuring.“ Dai Jingjiao, Vice President and Chief Investment Officer of Harvest Fund Management Co., Ltd. said. Therefore, ”the most important new-born bond market, the most hungry financial needs of those who are businesses, non-financial corporate debt will be the focus of the development of the Chinese bond market.“ ”Dai Jing Jiao said. Still “borrow new old ”? "Non-financial enterprises is the main body to create value in society, should be intuitively non-financial corporate debt financing