一、中国国债市场发展的现状 (一)国债运行机制的改革,标志着中国国债发行市场的建立与发展我国自1981年恢复国债发行以来,到去年底止已累计发行各种国债1,700余亿元,国债余额为l,500亿元,发行的品种由单一的国库券发展到包括国库券、重点建设债券、财政债券、国家建设债券、特种国债和保值公债等多个品种。但是,整个80年代,我国国债发行机制基本 I. Development of China’s Treasury Bond Market (I) The Reform of Treasury Bond Operation Mechanism Marks the Establishment and Development of China’s Treasury Bond Issue Market Since the restoration of treasury bonds in 1981, China has issued over 170 billion yuan of various treasury bonds by the end of last year, The outstanding balance of government bonds was 150 billion yuan. The varieties of bonds issued by the government were developed from a single treasury bill to include many varieties such as treasury bills, key construction bonds, treasury bonds, state construction bonds, special treasury bonds and value bonds. However, throughout the 1980s, China’s government bond issuance mechanism was basic