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项目收益债作为一种适用性很强的融资工具,虽然面市三年以来取得了一定的发展成果,但总体规模低于市场预期。为推动其更大程度地发挥融资功能,本文建议监管部门进一步细化募投项目支持目录,制定拟发债项目评价体系,放开对私募项目收益债债项级别的限制性要求,允许项目收益债的发行利率突破法规最高限制,鼓励发行人进行利率类型创新,并从制度层面防范现金流及收入预测出现大幅偏差。
As a financing tool with strong applicability, the project proceeds debt has achieved certain development achievements in the past three years, but the overall scale is lower than the market expectation. In order to promote its financing function to a greater extent, this paper suggests that regulators should further refine the catalog of support for investment projects, formulate the evaluation system for the proposed debt issuance project, release the restrictive requirements on the debt level of the proceeds from private placement projects, and allow the project income Debt issuance rate exceeded the maximum limit of laws and regulations, to encourage issuers to carry out interest rate type innovation, and from the institutional level to prevent cash flow and income forecast significant discrepancies.