一、储蓄替代型证券的内涵国务院发布的《关于推进资本市场改革开放和稳定发展的若干意见》中明确指出:“要加大风险较低的固定收益类证券产品的开发力度,为投资者提供储蓄替代型证券投资品种”。这也是第一次在政府文件中提出储蓄替代型证券的概念,不过在此并没有对其给出明确 I. The Connotation of Savings-Alternative Securities The “Opinions on Promoting the Reform, Opening up and Stable Development of the Capital Market” promulgated by the State Council clearly states: “We should step up efforts to develop fixed-income securities products with a lower risk and provide investors with Saving alternative securities investment varieties. ” It is also the first time that a concept of saving-substitutive securities has been proposed in government documents, but it has not been explicitly stated here