论文部分内容阅读
中小企业私募债相对风险级别较高,打破我国债券市场目前“零违约”现状将只是一个时间问题由于我国多年来重股轻债、重利率轻信用的资本市场结构性失衡,导致目前“资金多投资难、企业多融资难”的困惑。当前我国经济处于下行周期,加上信贷持续收缩,使得大量中小企业面临融资“雪上加霜”的局面。今年初的全国金融工作会议发出了“服务实体经济”的号召,中国证券市场上首只中小企业私募债在2012年6月应运而生。
SME private debt relatively high risk level, breaking the current bond market in China “zero default ” status will only be a matter of time As China’s heavy debt over the years heavy, light interest rates and credit rating of the capital market structural imbalance, resulting in the current “Capital more investment difficult, more enterprises financing difficult” confusion. At present, China’s economy is in a downward cycle. Coupled with the continued contraction of credit, a large number of SMEs are facing financing. The situation is even worse. Earlier this year, the National Financial Work Conference issued a call for “serving the real economy,” and the first private SME bond in China’s securities market came into being in June 2012.