Performance Evaluation And Optimization Of China’s Bond Market

The bond market as an integral part of capital markets, In our country has madegreat development. Because of these pressures regulators can only limit IPO, It isunlikely that various types of corporate financing through the stock market, our bondmarket has been unprecedented development in recent years the stock market hasbeen sluggish.In terms of the functions of the bond market.It provide a platform toraise funds for a variety of businesses. It also provide a good place for investment tothe various types of financial institutions, So that they can more fully play their role asfinancial institutions in the process of economic development. Therefore, I think thestudy whether the bond market who contribute to the economic growth as well as thecontribution How, Examine the bond market in government bonds, financial bonds,corporate bonds, respectively, the contribution to economic growth, Some for thefuture direction of development of China’s bond market, Hoping to be able to bringsome useful discussions on the reform of China’s capital market.For a long time,China’s financial system exists asymmetric development and the development of thereal economy, low direct financing, Direct financing, Bond financing lags behind thedevelopment of financial markets. In the situation of the international financial crisis,the haze has not yet dispersed and the slowdown in world economic growth, Thesustained, rapid and healthy development of our economy is facing a severe test andchallenge. As has the financial capital of the national economy "barometer," said themarket’s ability to give full play to its functions related to the national economy canstable and healthy, As an important part of China’s financial markets, Managementand investors agreed with the status and role of the bond market gradually.In this paper, I will research the relationship between the bond market andeconomic growth. Use(1) A combination of theory and practice. Draw on existingmature foreign bond market structure theory, Combined with structural characteristicsand development status of China’s bond market, Compare the structural condition ofthe bond markets in developed countries, Combination of the special circumstances ofevaluation index system to build the structure and function of the bond market inChina match.(2) Combination of normative analysis and empirical analysis. The useof the theory of the maturity of the bond market and bond market operations practicalexperience normative definition of the structure of China’s bond market, functionalgoals, ADF test its use of the AK model and the use of the Eviews analysis software,Harrod-Domar growth model and the neoclassical economic growth model analysisof the bond market in government bonds, financial bonds, corporate bondscontribution to economic growth.(3) Comparative analysis method. Explore the practical experience in mature capital market structure running, The empiricalanalysis of the structure and function of the performance of the bond market does notmatch the phenomenon, New classical economics, sociology and institutionaleconomics perspective analysis of the functional performance of the bond marketfactors, Explore how the structure of China’s bond market improved and optimized.