“十二五规划”要求发展债务融资市场以拓宽企业融资渠道,而非金融企业债务融资工具(以下简称债务融资工具)具有融资规模大、时间长、利率低且受政策影响小等特点,全国发行规模不断创出新高。据中国交易商协会数据,2012年度全国累计发行短期融资券、中期票据、中小企业集 “Twelfth Five-Year Plan ” requires the development of debt financing market to broaden the financing channels for enterprises, rather than financial corporate debt financing tools (hereinafter referred to as debt financing tools) with large-scale financing, long time, low interest rates and policy-dependent small , The national issue size constantly hit a new high. According to the data of China Dealers Association, in 2012, the country issued a total of short-term financing bills, medium-term notes, small and medium-sized enterprises