经济调整要求适时加快多层次债券市场建设

金融是现代经济的核心，尤其在现阶段我国经济存在调整趋势的背景下，要求金融发挥对实体经济的更大作用。在金融体系中，资本市场发挥着愈来愈明显的作用，从债券融资明显的逆周期特点及债券市场更大的发展潜力看，债券市场理应成为金融支持实体经济的重要抓手。按照“十二五规划”中我国资本市场的发展目标，要适时加快多层次债券市场体系的建设，以更大程度发挥其在稳增长、调结构方面的积极作用。文章就此对多层次债券市场建设的内涵进行思考并提出相关政策建议。

Economic adjustment requires acceleration of the bond market development

Finance is the core of modern economy, particularly at the current trend of economic adjustment, finance is required to play a more important role in the real economy. In the financial system, the role of the capital market is more prominent. From the apparent countercyclical feature of bond financing and the higher development potentials of the bond market, the bond market should become an important focus for financial support to the real economy. Under the 12th Five-year Plan, the objective of capital market development is to timely accelerate the establishment of a multi-level bond market mechanism to give play to its active role in stable development and structural adjustment to a greater extent. This article gives consideration to the main contents for establishing a multi-level bond market and makes some relevant policy suggestions.