传统国债产品无法满足市场需求自1994年中国财政部发行凭证式国债以来,截止2004年底,其发行量累计已达17,676.2亿元,未到期余额7,500多亿元。十多年来,凭证式国债以其稳定的收益受到投资者的追捧,并在筹集建设资金、弥补财政赤字、调节经济运行等方面功不可没。但随着市场经济 Traditional Treasury Bonds Can not Satisfy Market Needs Since the issuance of voucher bonds by the Ministry of Finance in 1994, as of the end of 2004, the issuance volume of these treasury bonds totaled 1,766.72 billion yuan and the outstanding balance of over 750 billion yuan. For more than a decade, voucher-type treasury bonds have been sought after by investors for their steady returns and have been instrumental in raising funds for construction, making up fiscal deficits and regulating economic operations. But with the market economy