高收益债市场发展的美国经验与中国路径

Developing High-yield Bond Market: American Experience and China's Path

高收益债是成熟债券市场的重要组成部分。近年来,以"明日之星"为主的科技型企业发行高收益债稳步增长。本文对美国高收益债市场进行了重点研究,以探索我国高收益债市场的发展。

High-yield debt is an important part of a mature bond market. In recent years there has been steady growth in the issuance of high-yield debt by science and technology- focused enterprises often referred to as the ＂stars of tomorrow＂. The article focuses on American high-yield bond market, and explores China＇s path in developing high-yield bond.