The Development Of Screening And Bills Market In China

In recent years, more and more people become conscious of the lag of the money market reform in china. And the comparatively depauperate status of bill market in China, which is one of three basic sub-market of money market, receives especial attention, because the development of the bill market is very important for both the construction of social credit system and the implement of macro-economic policy in China.On the other hand, the information economics has almost pervaded all fields of economic theory in content and urged it to experience profound transformation. Paying attention to analyze true-life questions of market economy and to analyze the form of practical economic system and the operation mechanism is the most important character of information economics. It is this character that leads to its widely application. On the base of these, this paper tries to find the underlying reason that the bill market in China hasn't obtain substantial development in light of the asymmetric information theory, and takes out according countermeasures.This paper consists of 5 chapters. Chapter 1 offered a brief introduction to the whole dissertation. Chapter 2 discussed the practical significance of developing bill credit and bill market on the aspect of credit construction. Chapter 3 explored the market composition and operation characters in England, U.S and Japan in comparative economics method, and based on this, summarizes their development experience. Chapter 4 expatiated how to develop bill market according to information economics, including a brief review on adverse selection theory. Chapter 5 analyzed the status of bill market in China, then on the basis of the conclusion of chapter 3 and chapter 4, gave corresponding countermeasures.