A Positive Study On The Utilizingand The Scale Of Public Bond In China

As the link point of financial and current policies, Public bond is an impor- tant tool of macro adjustment. Because of the risks of public bond, rational public bond scale is the prerequisite to totally carry out the macro adjustment function of public bond. In this article, using benefit analysis of bond capital is the founda- tion to evaluate bond scale. In this article the author has analyzed the bond squeeze effect of western countries and our homeland: as well as the influence of the availability to the using benefit of bond capital. Therefore, an index system to analyzing bond scale is set up. Following the analysis of practical experience comes the conclusion: domestic using benefit of bond capital is higher than in 0- versea countries, so the alarm line of bond burdens could be properly higher than the public one. Domestic current bond scale is acceptable, but issuing rate must be decreased and follow the policy of icro adjustment in increasing...