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亚洲在区域金融市场一体化方面的突出特点是,亚洲市场的全球一体化程度,高于其区域一体化程度,亟须进一步发展债券市场和资本市场。2014年10月,亚太金融论坛向亚太经合组织财长会议提交了《中期报告》并获得通过。该报告实质上阐述了资本市场将必须满足的本地区未来需求以及实施这些改革的行动计划。长期以来,通过发行债券筹集资金一直是金融体系的重要特征。当财政系统仅能满足经常性支出时,政府会发行债券,为中长期支出筹资;而当经常性收入用于支付运营费用和股息(以及
The prominent feature of Asia in the integration of regional financial markets is that the global integration of Asian markets is higher than that of their regional integration and there is an urgent need to further develop the bond market and capital market. In October 2014, the Asia Pacific Financial Forum submitted and approved the “Interim Report” to the APEC finance ministers. The report essentially sets out the future needs of the region that capital markets will have to meet and the plan of action to implement them. For a long time, raising money through debt issuance has been an important feature of the financial system. When the fiscal system can only meet recurrent expenditures, the government issues bonds to finance medium- and long-term expenditures; and when recurrent income is used to cover operating expenses and dividends (and