中国经济正处于转型阶段,转型是否成功将决定中国经济未来的发展速度。资本市场向来就具有风险厌恶情结,投资者在这一情况下,一种策略就是观望,等待情况的明朗,但是投资时机是很难把握的,等待可能会错过难得的机会。现阶段最佳的投资策略是握有一个价格合适的看涨期权,可转债正好提供了这样一种看涨期权。最近,资本市场出现了调整的走势。银行类公司在权衡利弊之后,中行、工行等大型银行纷纷提出了发行可转债的方案,可见他们认为可转债是调整 China’s economy is in a transitional phase. The success of the transition will determine the pace of development of China’s economy in the future. Capital markets have always been a risk aversion complex. Investors in this case, one strategy is to wait and see, but the timing of the investment is difficult to grasp, waiting for a rare opportunity may miss. At this stage the best investment strategy is to hold a call at the right price, convertible bonds just provide such a call option. Recently, the capital market has shown a trend of adjustment. Bank companies weighing the pros and cons, the Bank, ICBC and other large banks have put forward the program of convertible bonds, we can see that they think the convertible bonds is to adjust