The central bank should construct paper market intermediaries, reinforce discipline of settlement of commercial bank, and increase the fee rate of bank acceptance.

• 在具体政策上，中央银行应进一步简化有关贴现业务办理手续的规定，加强票据市场中介建设，加强商业银行结算纪律，并可以考虑适度提高银行承兑手续费率。