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债券市场作为中国直接融资体系的重要组成,其直接融资功能、服务实体经济的能力不断增强。目前受经济尚未企稳、通缩及资金面持续宽松影响,债券牛市还会继续,但是信用风险、市场风险、政策风险、宏观经济风险也在上升。因此,近期要防范债市出现剧烈波动的可能,长期要充分发挥债券市场降低企业融资成本的功能,但要加强监管,继续完善债券市场建设。一、中国债券牛市的影响因素债券牛市已持续两年,受经济持
Bond market as an important component of China’s direct financing system, its direct financing capabilities, the ability to serve the real economy continues to grow. At present, the bond bull market will continue due to the unstable economy, deflation and the sustained easing of capital. However, the credit risk, market risk, policy risk and macroeconomic risk are also on the rise. Therefore, in order to prevent the stock market from fluctuating sharply in the near future, it is necessary to give full play to the function of lowering the financing cost of enterprises in the bond market in the long term. However, we must strengthen supervision and continue to improve the construction of the bond market. First, the factors affecting the Chinese bond bull bond market has been bullish for two years, by the economy