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国债的发行结构主要包括品种结构、期限结构、投资者结构、利率结构以及发行量。由于社会资金的多渠道、多层次以及政府支出的多渠道、多层次,要求有发达的多渠道、多层次的国家信用体系和国债市场与之相适应。在一些国债事业较发达、管理水平较高、国债市场较为成熟的国家,往往根据宏观经济发展的需要以及投资者的资金结构,设计并实施较为科学、多元化的国债品种结构、期限结构、投资者结构、利率结构以及发行量,并以此进行宏观调控,实现政府的财政政策和货币政策。 1999年以来,世界经济增长放缓,国际市场竞争加剧,地区性贸易保护主义倾向增强,我国外贸出口下降,直接影响到我国外需的扩大;国内有效需求对经济增长拉动仍然不足,投资需求对经济的拉动作用减弱,消费需
The issuance structure of treasury bonds mainly includes variety structure, term structure, investor structure, interest rate structure and circulation. Due to multi-channel, multi-level and multi-level and multi-level government spending, social funds require developed multi-channel and multi-level national credit system and treasury bond market. In some countries with more developed government bonds and higher management level and more mature bond markets, they tend to design and implement more scientific and diversified national debt structure, term structure and investment according to the needs of macroeconomic development and the fund structure of investors Structure, interest rate structure and circulation, and thus carry out macro-control and realize the government’s fiscal policy and monetary policy. Since 1999, the world economy has been slowing down, the competition in the international market has been aggravated, and the propensity of regional trade protectionism has increased. The decline of China’s export trade has a direct impact on the expansion of China’s foreign demand. The effective domestic demand has not enough to stimulate economic growth. The pulling effect weakened, consumer demand