| 1. | Analysis on buy - back market of the government bonds
我国国债回购市场分析 |
| 2. | The decision making model of bond exchanging market and bond repo market
国债二级市场和国债回购市场的投资决策模型研究 |
| 3. | Research of predictive power of interest rate term structure of chinese government bond repo market
国债回购市场利率期限结构的预测能力研究 |
| 4. | Restricted by the author ' s capability , there must be some defects in this thesis . if you have read my thesis , welcome to make your wise advice to me and thank you very much
在债券交易上，不但要改善现券交易不活跃的情况，同时尚需对国债回购市场存在的问题作相应的改进，在条件成熟的时候，随时准备再开国债期货交易 |
| 5. | With the analysis of repurchase rates of chinese government bonds in the market , this paper arrives at the statistical features of the rates , which has laid down the foundation for further studies
摘要通过对我国国债回购市场利率的基本特征进行分析，指出了我国国债回购利率的统计特征，为人们对利率模型进行进一步的分析，给出一些基础性结论。 |
| 6. | The system is prohibited by law in the p . r . of china . although , in recent times there has been much market pressure in the p . r . of china for change . especially after the p . r . of china has been the leaguer of the wto
1994年以前我国银行业事实上采取的是混业经营模式， 1992年下半年开始的泡沫经济，使银行大量资金通过国债回购、同业拆借进入证券市场，金融秩序极度混乱，甚至一度出现了严重的金融市场失控局面。 |
| 7. | National debt repurchase ( repo ) is trading on national debt and capital , that is capital holder and national debt holder reach an agreement of trading on national debt on trading day , and national debt seller promise to buy it back on the maturity and in fixed price
国债回购是以国债、资金为交易标的的融资融券交易。即持有资金方与持有国债方在交易日达成国债买卖交易并约定双方在到期日以一定价格再由国债卖出方购回国债的交易。 |
| 8. | We should attach more importance to following channels at present time : broaden monetary market function ; perfect stock mortgage loan ; develop investment institute ; explore investment banking business , including investment funds business channel , insurance business channel and security business channel ; make financial organization renovation . following policy suggestions should be applied : 1 ) perfect the policy environment ; 2 ) treat the problem rationally ; 3 ) implement financial mixed operation system in due time ; 4 ) foster financial market ; 5 ) enhance external supervision ; 6 ) deepen the construction of commercial banks ; 7 ) introduce bank capital into stock market in stages
货币市场和资本市场的不协调发展使证券机构出现制度外与体制外融资或违规操作，必须在两个市场间建立资金和信息对流的宽敞通道，在路径设计上，当前应扩展同业拆借市场、国债回购市场等货币市场渠道功能;完善股票质押贷款，及时推出非券商股票质押贷款，并注重风险防范;大力发展养老基金、保险公司、信托基金等机构投资者，吸收银行资金间接入市;拓展投资银行业务，包括基金、保险业务渠道、券商业务渠道、公司业务渠道;设立证券金融公司或金融控股集团，进行组织制度创新。 |
| 9. | As revealed by the study , following problems exist : 1 ) the supply of bank capital has a close relation with the fluctuation of stock market ; 2 ) the volume of bank capital flowing into stock market is large and it is estimated that there are 450 - 600 billion of bank capital exist on stock market , 2 / 3 of which are illegal ; 3 ) most bank capital are getting into stock market through illegal channels , such as illegal repurchase of government securities , illegal acceptance and discount of trade bill , embezzlement of customers " guarantee deposit , illegal interbank loan , illegal diversion of credit capital to other purpose , etc . the inflow of bank capital to stock market has dual influences on our economy and finance
表现在： ( 1 )据估计我国进入股市的银行信贷资金存量在4500 - 6000亿元左右，其中滞留于一级市场的资金规模约为2000 - 3000亿元，进入二级市场的规模在2000 - 2500亿元之间，国有股和法人股转让市场涉及信贷资金规模约为500 - 600亿元，然而，在这千亿元进入股市的信贷资金中2 3左右都是违规流入的。 ( 2 )银行资金入市除同业拆借、国债回购和股票质押贷款三种合法渠道外，多是通过非法渠道流入股市的，其途径主要包括：违规国债回购、违规商业汇票承兑及贴现、挪用客户保证金、违规拆借资金、企业违规挪用银行信贷资金、个人违规使用银行贷款等。 |
| 10. | The review and analysis of the institutional arrangements of china ' s government bonds repurchase market indicates that the root - cause for government bonds repurchase risk on the stock exchange is the trusteeship and settlement system ; securities dealers are both dealers on the government bonds market and supervisors of other investors , which is the institutional black hole for their repeated misappropriation of clients ' securities
摘要对中国国债回购市场制度安排的回顾和分析表明，证券交易所市场国债回购风险的根源在于?管和结算制度；券商既是国债市场的自营商，又是其他国债投资者的监管者，这是券商屡屡挪用客户债券的制度黑洞。 |
