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恢复发行可流通国债、恢复国债发行的市场化对我国国债市场的长期发展意义重大。 首先,恢复国债在交易所市场的发行是提高国债市场效率的根本要求。国债市场的运行效率主要体现在发行市场效率、流通市场效率两方面,记帐式国债上网发行的效率无论是在交易所市场发行还是在银行间债券市场发行应该是相差无几,但发行场所的选择对国债流通市场效率的影响较大。国债流通市
The resumption of the issuance of negotiable bonds and the resumption of the marketization of government bonds are of great significance to the long-term development of China’s bond market. First of all, the resumption of the issuance of government bonds in the exchange market is a fundamental requirement for raising the efficiency of the bond market. The efficiency of the government bond market is mainly reflected in the efficiency of the issuance market and the efficiency of the circulation market. The efficiency of book-entry treasury bonds issuance on the Internet should be almost the same both in the exchange market and in the inter-bank bond market. However, The treasury bond market efficiency is greater. Bonds circulation