论文部分内容阅读
我国企业债券业务的现行制度障碍 ,严重制约着投资者借助债券参与直接投资 ,制约着企业筹集资金 ,影响了资本市场的资源配置作用。这些制度障碍主要表现在债券市场不匹配、审批手续繁杂 ,利率的非市场化 ,中介机构的利益不均衡性、担保机制不健全、市场监管上的缺陷等方面。１
The current institutional barriers to the corporate bond business in China seriously restrict investors from participating in direct investment through bonds, thus restricting enterprises from raising funds and affecting the resource allocation in capital markets. These institutional obstacles are mainly manifested in the bond market mismatch, complicated examination and approval procedures, non-market interest rates, imbalances in the interests of intermediaries, the guarantee mechanism is not perfect, the market regulatory flaws and so on. 1