On The Issue Of The National Debt In China

National debt has long been an important economic problem. There have been great changes in the national debt since the exercise of the active fiscal policy with the increase of national debt as its main content in the year 1998. Not only the scale of the national debt has been increasing all the time but also there have been many new types of national debt and there has been a trend of diversification of expiration time. At the same time, the secondary market of national debt has been developed, the circulatable scale has been recovered and been continuously increased, and the investors have been diversified. As an important means of macro-adjustment and control, the effect of national debt policy has been attached more and more importance by the public. The development of national debt has put forward many problems to the theorists. There should be a reasonable explanation of why and how the national debt and its correspondent policy exert an active effect on the healthy and stable development of the national economy. Though great achievement has been made in the theory of national debt, it is still necessary to make a further study on it. The practice of national debt in our country is still insufficient. With the development of national debt, our understanding of national debt will be furthered. What is more important is that though the problems in the national debt are being solved, new problems are continuously coming forth. At the same time, some of the inveterate problems will come forth in some new forms. The dissertation is based on this background. There will be a re-consideration of some of the major problems on the basis of the existing achievements; the theoretical function and practical meaning of this study are self-evident.In order to exactly grasp and thoroughly analyze national debt, the dissertation is divided into six chapters on the basis of a retrospect and pectination of the development of national debt and its corresponding theories. The main line of the thesis is to extend the room of loan and to realize the sustainability of national debt policy. The dissertation examines the issuing, using, circulating and paying of the national debt following the track of its circulation. The emphasis is put on the scale and sustainability of national debt. Based on the achievements of both home andabroad, the dissertation tries to adopt the economical theory of Marxism and normative and positive analysis to study the national debt problems from different angles and layers.The dissertation first examines the issuing laches of national debt, focusing on the problems of conformation of its price, choice of ways of issuing and designing of its issuing structure. The author of this dissertation has put forward the idea of erasing monopoly, increasing demand, stimulating competition in order to optimize the mechanism of China's national debt price, which has been put forward on the basis of an analysis of factors affecting national debt price and the history of mechanism of China's national debt price from the angle of supply and demand. In the research of ways of national debt issue, through a study and comparison of the features, cost of issuing and efficiency of issuing between several national debts of different countries, on the basis of a retrospect and analysis of the history of ways of issuing, the author puts forwards measures of perfecting the bid methods of national debt in our country. Because of the influence the issuing structure on circulation, pay and use and furthermore on the sustainability of national debt policy, the author puts his emphasis on the analysis of the variety structure, expiration structure holder structure. And then put forward that the national debt should be multiplied, time equalized and holder structure diversified.In the section of national debt, the dissertation mainly analyses the market of national debt's circulation and derivative tool market of national debt. As the extension of the issue of national debt, national debt's circulation is complement...