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CREDIT REFERENCE
2015年
10期
1-6
,共6页
票据%票据市场%功能%票据融资%支付结算
票據%票據市場%功能%票據融資%支付結算
표거%표거시장%공능%표거융자%지부결산
bill%bill market%function%bill financing%payment and settlement
票据的原始功能正在变化，汇兑功能不断萎缩，但支付功能却很顽强；票据的衍生功能不断丰富，流通功能越来越重要，但其基础是信用功能；票据的另一个衍生功能，就是市场融资与投资工具，进而成为中央银行的货币政策工具。我国的票据市场能够通过票据的签发、承兑、贴现、转贴现和再贴现等业务流程，连接银行、非银行金融机构以及企业资金流动。票据融资不仅成为众多企业支付结算和短期资金融通的首选，更加有利于降低实体经济融资成本，促进货币直接注入实体经济，而且能有效调节经济运行结构。
票據的原始功能正在變化，彙兌功能不斷萎縮，但支付功能卻很頑彊；票據的衍生功能不斷豐富，流通功能越來越重要，但其基礎是信用功能；票據的另一箇衍生功能，就是市場融資與投資工具，進而成為中央銀行的貨幣政策工具。我國的票據市場能夠通過票據的籤髮、承兌、貼現、轉貼現和再貼現等業務流程，連接銀行、非銀行金融機構以及企業資金流動。票據融資不僅成為衆多企業支付結算和短期資金融通的首選，更加有利于降低實體經濟融資成本，促進貨幣直接註入實體經濟，而且能有效調節經濟運行結構。
표거적원시공능정재변화，회태공능불단위축，단지부공능각흔완강；표거적연생공능불단봉부，류통공능월래월중요，단기기출시신용공능；표거적령일개연생공능，취시시장융자여투자공구，진이성위중앙은행적화폐정책공구。아국적표거시장능구통과표거적첨발、승태、첩현、전첩현화재첩현등업무류정，련접은행、비은행금융궤구이급기업자금류동。표거융자불부성위음다기업지부결산화단기자금융통적수선，경가유리우강저실체경제융자성본，촉진화폐직접주입실체경제，이차능유효조절경제운행결구。
The original function of the bill is changing; the exchange function is shrinking, but the payment function is very strong. The derivative function of the bill is constantly enriched; the circulation function is increasingly important, while its basis is the credit function. The other derivative function of the bill is a tool for the market financing and investment, and then becoming the central bank’ s monetary policy instrument. The bill market in China can connect the bank, non-bank financial institution and enterprise capital flow through business procedures such as issuance, acceptance, discounting, counter-discounting and re-discounting. Bill financing not only becomes the optimal choice for many enterprises’ payment and settlement as well as short-term financing, more conducive to reducing the cost of real economy financing, and then promoting the currency directly placed into the real economy, but also can effectively adjust the structure of economic operation.
