一、初期：冷清起步试活初次级市场众所周知，由于多数人对国债的认识不足，特别是对国库券存在多种疑虑，因此，在1993年以前，国库券的认购基本是靠行政摊销完成的。国债初级市场遇到的阻力，促使有关部门采用倒逼的办法，即开辟国债的次级市场，推动国库券的流动，活跃初级 First, the early stage: the trial of cold start the first sub-market As we all know, due to lack of understanding of the majority of national debt, especially for the existence of a variety of doubts about the Treasury, so before 1993, Treasury subscription basically completed by administrative amortization. The resistance encountered in the primary market of government bonds prompted the departments concerned to adopt the method of forcing them to open up the secondary market of government bonds and promote the flow of treasury bills and the active primary