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本文首先回顾了我国企业债券经历的萌芽阶段、快速发展阶段、整顿阶段和规范发展阶段的发展历程,同时从行业分布、资产规模、经营状况和供需总量分析等角度审视我国企业债券市场滞后的现状。但是我国政府高层已经意识到发展企业债券市场的必要性,而且利率水平降低,企业发债融资的成本大幅度降低,为企业发债提供了有利条件;债券市场供需双方为发展我国企业债券创造了成熟的市场条件;大量资金急于寻求有稳定收益、低风险的金融产品,为企业债券的发展提供了充足的资金来源;当前股市再融资低迷,也在一定程度上促使企业债券升温,所以我国企业债券市场前景将比较光明。
This paper first reviews the development of China’s corporate bonds in its infancy, rapid development stage, rectification stage and standard development stage, and reviews the lag of China’s corporate bond market from the perspective of industry distribution, asset size, operating conditions and total supply and demand status quo. However, the top government of our country has realized the necessity of developing the corporate bond market, and the interest rate level is reduced. The cost of issuing bonds for enterprises is greatly reduced, which provides favorable conditions for the enterprises to issue bonds. Both sides of the bond market supply and demand created the development of China’s corporate bonds Mature market conditions; a lot of money eager to find a stable income, low-risk financial products for the development of corporate bonds provides a sufficient source of funding; the current stock market downturn refinancing, but also to some extent, to promote corporate bonds warming, so our business The prospect of the bond market will be bright.