中国金融体系最大软肋——债券市场,即将迎来一场变革。沪深交易所5门22口公布了《中小企业私募债券业务试点办法》(以下简称“《试点办法》”),这标志着中国版“垃圾债”正式启动。之所以称其为“垃圾债”(即,信用评级在“投资级别”以下的债券),是因为在 The biggest weakness of China’s financial system - the bond market, is about to usher in a change. The Pilot Scheme on Private Equity Bonds for SMEs was announced at 5 ports and 22 ports of the Shanghai and Shenzhen Stock Exchanges (hereinafter referred to as the “Pilot Scheme”), marking the official launch of the Chinese version of “junk bonds.” The reason it is called “junk debt” (ie, a credit rating of “bonds below” “investment grade”) is because