亮点精彩纷呈 改革强力推进——2005年中国金融市场发展回顾

2005年，中国金融市场亮点耀眼，精彩纷呈。货币市场方面，金融工具品种增加，市场交易规模扩大，短期融资券市场发展迅猛，票据市场稳步壮大，货币经纪公司开始破题，回购市场利率低企，拆借市场活跃程度有所下降；资本市场方面，股市行情低迷依旧，股权分置改革全面展开，改革步伐逐渐加快，券商综合治理力度不断加大，金融创新产品大量涌现，机构投资者迅速发展。

Attraction Is Brilliant with Reformation Vigorously Promoted--A Review of China's Financial Market Development in 2005

In 2005, China＇s financial market is a great attraction, brilliant and huge. In money market, sorts of financial instruments are increasing constantly and market transaction size larger and larger. A rapid development has been gained in short-term bond market ; bill market has streadily grown in strength ; money broker company has been briefly stated theme ; repo market interest rate became lower than expectation ; invigoration of call money market decreased. In capital market, stock market is still weak; the reformation of share listing disposed differently has gained an overall expansion with an increasingly quickened steps; securities traders comprehensive governance has been stressed; financial innovation products emerged in mass; institutional investors have had a rapid development.