我国当前处于经济增速放缓期,企业负债率较高,财务负担较重,债务结构不合理增加了违约风险。本文分析我国债务周期,由此探索风险的化解渠道,认为以间接投融资为主导的金融体制向以直接投融资为主导的金融体制转化的金融体制改革,才是解决当前企业高负债的根本之道。 At present, China is in a period of slowing economic growth, with a higher debt ratio, a heavier financial burden and an unreasonable debt structure, which increases its default risk. This paper analyzes China’s debt cycle, and thus explore the risk of the channel of settlement, that the indirect financial investment-led financial system to direct investment and financing-led financial system transformation of the financial system reform, is the solution to the current high corporate debt Road.