中国企业债券市场发展存在的问题及解决对策.doc

中国企业债券市场发展存在的问题及解决对策 摘要：我国企业债券的发行始于1984年，至今已有23年的发展历史。作为一种重要的直接融资方式，企业债券为我国国民经济作出了很大贡献。企业债券市场历来是证券市场的重要组成部分，它对证券市场的完善及国民经济的发展具有重要作用。其发展不仅能拓宽企业融资渠道、优化企业资本结构，满足投资者多样化的投资需求。然而我国企业债券的发行规模却很低，加快发展企业债券市场，从而加快我国经济建设具有十分重要的作用。并且债券市场和股票及国债市场相比，其发展相当缓慢，不仅严重影响了企业的资产运作、投资选择和市场竞争力的提高，影响了银行等金融机构的资产优化、投融资体制改革和证券市场的规范化建设，而且还严重影响了经济增长及经济可持续发展。本文详细分析了我国企业债券市场存在的主要问题，提出了建立完善企业债券定价体系、完善信用评级制度、健全法律法规体系、增强企业债券流动性等一系列解决对策。 关键词：债券市场 解决对策 流动性 发展问题 Abstract：Chinas corporate bond issuance began in 1984, has been 23 years of development history.As an important way of direct financing, corporate bonds contributed greatly to our national economy.Corporate bond market has always been an important part of the securities market, its sound and the stock market has an important role in the development of the national economy.Their development can not only broaden the financing channels for enterprises to optimize capital structure, to meet the diverse investment needs of investors. However, the size of corporate bond issuance was low, accelerate the development of corporate bond market, thus speeding up economic development in China has a very important role.And the bond market and stock and bond market compared to its development is quite slow, not only seriously affect the operation of the enterprises assets, investment options and increased market competitiveness, affecting banks and other financial institutions, asset optimization, investment and financing systems and securities Standardization of the market, but also seriously affected the economic growth and sustainable economic development.This paper analyzes corporate bond market of the main problems, proposed the establishment of sound corporate bond pricing system, improve the credit rating system, a sound legal system, enhance the liquidity of corporate bonds and a series of countermeasures. Keywords：Bond Market Solutions Liquidity Development 我国企业债券市场发展现状 企业债券作为我国债券市场的品种之一，它的发展历程经历了一波三折，可分为以下几个阶段： 萌芽时期（1984年—1986年）从1984年开始，一些企业出现了