机构投资者是一国国债金融市场持续稳定发展的支柱。努力培养机构投资者,对于深化中国的国债金融市场改革具有十分重要的战略意义。 一、国债市场机构投资者的地位和作用 (一)国债市场机构投资者的地位。 机构投资者是指在二级市场上买卖政府债券的各种养老基金、保险基金、银行和外国投资机构等。从理论上讲,个人投资者和机构投资者应是政府证券市场的主要投资者。一般地,政府债券的持有者结构应和资金流量及金融资产的 Institutional investors are the pillars of the sustained and steady development of the national debt financial markets. Efforts to foster institutional investors have a very important strategic significance for deepening the reform of China’s national debt financial markets. First, the position and role of government bond market institutional investors (A) the status of government bond market institutional investors. Institutional investors are pension funds, insurance funds, banks and foreign investment institutions that buy and sell government bonds in the secondary market. In theory, individual and institutional investors should be major investors in the government securities market. In general, the structure of the holders of government bonds should be related to the flow of funds and the financial assets