中央财经大学金融证券研究所所长袁东　恢复国债期货的条件还不完全具备 ,但相关准备工作 2 0 0 4年应进入实质性的阶段。我国利率市场化的节奏和金融对外开放的步伐不断加快 ,市场主体对利率风险管理的要求不断加强 ,没有一定的利率风险管理工具和对冲工具 ,会影响到内外资金 Yuan Dong, director of the Institute of Finance and Securities of the Central University of Finance and Economics, did not fully meet the conditions for resuming the bond futures. However, the preparatory work for 2004 should come to a substantive stage. The rhythm of marketization of interest rates in our country and the pace of opening up to the outside of the economy continue to accelerate. The market participants’ demands for the management of interest rate risk continue to grow. Without certain interest rate risk management tools and hedging instruments, the internal and external funds will be affected