2015-CHINA FINANCIAL MARKET DEVELOPMENT REPORT-Öйú½ðÈÚÊг¡·¢Õ¹±¨¸æ

Part I Overview 1£®Analysis of the macro environment for China's financial market development in 20151£®1 Analysis of international economic and financial conditions1£®2 Analysis of domestic economic and financial conditions2£® Main features of China's financial market performance in 20152£®1 Rapid development and risks as well as challenges coexisted2£®2 Market innovation an institutional reform were pushed forward at the same time2£®3 Importance was attached to both the depth and width of opening up 2£®4 Institutions and measures to support real economy were rolled out at the same time3£® Outlook on China's financial market development in 2016 3£®1 Financial market innovation will gain momentum 3£®2 Financial market regulatory system will be improved3£®3 Two-way integration in the process of financial market internationalization will be deepenedPart II Money MarketI£® Interbank funding market1£®1 Performance of interbank funding market1£®2 Main features of interbank funding market performance1£®3 Outlook for interbank funding market2£® Bond repo market2£®1 Performance of bond repo market2£®2 Main features of bond repo market2£®3 Perspectives on the future development of the bond repo market3£® Commercial paper market3£®1 Performance of commercial paper market3£®2 Main features of CP market performance3£®3 Development outlook of CP market4£® Bill market4£®1 Performance of bill market4£®2 Main Features of bill market performance4£®3 Outlook for bill market developmentBox 1 Interbank Money Market Launched New Trading Mechanism X-Repo Box 2 Interbank Certificates of Deposit and Analysis of the CD MarketPart III Bond Market1£® Bond market performance1£®1 Bond issuance market1£®2 Bond transaction market2£® Main features of bond market performance2£®1 Size of local government bond issues rose most rapidly2£®2 Issuance of corporate debenture bonds grew substantially2£®3 The share of short-term bonds in total issuance increased considerably2£®4 Turnover rate of spot bond on the interbank bond market rose by alarge margin2£®5 Yield volatility eased amid stabilization2£®6 Bond market's credit risk was further releasedPart IV Stock MarketPart V Foreign Exchange MarketPart VI Gold MarketPart VII Futures MarketPart VIII Financial Derivatives MarketAppendix I Highlights of China's Financial Market Development£¬ 2015