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中小微型企业是现代经济和国民经济构成的主体,融资难问题一直困扰着其健康持续发展,中小企业私募债是丰富多层次资本市场结构及创新解决中小微型企业融资问题的有效手段。从2012年1月开始,在国务院“进一步拓宽中小企业融资渠道”工作部署的指导下,交易所着手起草中小企业私募债券的规章制度。5月份,上交所发布实施了《上海证券交易所中小企业私募债券业务指引》和《上海证券交易所中小企业私募债券业务试点办法》,深交所发布了《深圳证券交易所中小企业私募债券试点办法》和《深圳证券交易所中小企业私募债券试点业务指南》,
Small and medium-sized micro-enterprises are the main body of the modern economy and the national economy. The financing difficulties have plagued their healthy and sustainable development. The private placement of SMEs is an effective way to enrich the multi-level capital market structure and innovate the financing problem for small and medium-sized micro-enterprises. Starting from January 2012, under the guidance of the State Department’s work plan on “further broadening the financing channels for SMEs”, the Exchange started to draft the rules and regulations on SME private placement bonds. In May, the SSE issued and implemented the Guidelines for the Private Equity Bunds for SMEs in Shanghai Stock Exchange and the Pilot Measures for Private Equity Bonds for SMEs in Shanghai Stock Exchange. The Shenzhen Stock Exchange issued the Measures for the Pilot Projects of Private Equity Bonds for SMEs in Shenzhen Stock Exchange And “Shenzhen Stock Exchange SME Private Bonds Pilot Business Guide”