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国债期货属于利率期货的一种,是金融市场上重要的避险工具之一。我国早在1992年就推出了国债期货的试点交易,但因为市场条件不成熟,国债期货交易出现了严重问题,历时不足三年就草草收场,给我们留下了深刻的教训。时隔18年后,国债期货又有望重新回归市场。文章结合当前中国的经济环境和金融市场发展状况对我国能否顺利重启国债期货交易做出研判,并对我国重启国债期货交易提出了相关的政策建议。
Bond futures are a kind of interest rate futures, one of the important hedging instruments in financial markets. As early as 1992, China launched the pilot trading of treasury bond futures. However, due to the immature market conditions, treasury bonds and futures transactions experienced serious problems. After less than three years, it landed a profound lesson for us. After 18 years, the bond futures are expected to return to the market again. Based on the current economic environment in China and the development of the financial market, the article makes a judgment on whether China can successfully restart the treasury bond futures trading and puts forward the relevant policy suggestions on restarting the treasury bond futures trading in our country.