| 摘 要： | I.Introduction China's success in developing a fully functioning capital market depends in large part onwhether it succeeds in establishing a thriving market for bonds.The government has,untilrecently,restricted the types of bonds that can be issued in China.But China has realizedthat there are powerful financial reasons to promote the expansion and deepening of theChinese bond market.Among the most important are,first,that bonds would be desirableadditions to the portfolios of Chinese insur…
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