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1994年,国家计划发行国库券1000亿元,数量激增;同时,中央银行将结合金融体制改革,开展公开市场业务,正式介入国债市场。这标志着我国国库券市场化的工作将跃上新的台阶,国库券将成为社会主义市场经济体制下财政信用与银行信用的交汇点;标志着我国宏观金融调控乃至整个国民经济调控的格局将发生重大变化,基础货币的吞吐将由传统的扩张容易收缩难的信用放贷方式转为主要依靠买卖国债的方式。因此,在这事关全局的新的经济运行机制产生之际,我们有必要对国库券的主要功能及其在现代市场经济中的地位与作用给予准确
In 1994, the state plans to issue 100 billion yuan worth of treasury bonds, a surge in the number. At the same time, the central bank will formally intervene in the national debt market by combining with the reform of the financial system and carrying out open market operations. This indicates that the marketization of China’s treasury bills will leap to a new level. Treasury bills will become the meeting point of the fiscal credit and bank credit under the socialist market economic system. It will signify that the pattern of macro-financial regulation and control and the entire national economy regulation will be significant Changes, the basic currency throughput from the traditional expansion of easy to shrink the credit lending mode to rely mainly on the sale of government bonds. Therefore, it is necessary for us to give accurate account of the main functions of the treasury bills and their role and role in the modern market economy as this new economic operation mechanism concerning the overall situation emerges