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一、1997年的国债市场及其特点分析 1.国债一级市场特点九十年代以来,我国国债发行规模一直保持了较快的增长,1990～1997年年均增长速度达到26.65%,比同期全国财政总支出的平均增长速度高15.22个百分点,比同期全国财政收入的平均增长速度高15.25个百分点;占全国财政支出的份额也由1990年的12.27%上升到了27.72%,翻了2倍还多。国债发行规模快速增长的原因是多方面的,
First, the 1997 bond market and its characteristics 1. The characteristics of a government bond market Since the nineties, China’s national debt issuance size has maintained rapid growth, the average annual growth rate of 1990 to 1997 reached 26.65% over the same period the national The average growth rate of total financial expenditure was 15.22 percentage points higher than the national average growth rate of financial revenue over the same period 15.25 percentage points; accounting for the share of national financial expenditure rose from 12.27% in 1990 to 27.72%, more than tripled . The reasons for the rapid growth of national debt issuance scale are many.