我国城投债情况分析与研究

The Analysis and Research on the Situation of the Municipal Bonds in China

本文分析了城投债在中国兴起且迅猛发展的宏观体制性原因,以及城投债本身所具有的微观优势,进而从债券信用等级、发行规模、发行期限等不同维度对2013年以来我国发行的城投债进行统计分析,并根据统计结果以及我国的具体实际,全面阐述了我国城投债迅猛发展的成因及对我国体制结构和经济金融的影响,在此基础上对目前城投债发展过程中存在的问题进行思考并提出相关政策建议。

The paper analyses the macroscopic institutional reasons why the municipal bonds have been prosperous and developed rapidly in China,and the microscopic advantages of municipal bonds itself.Then the paper makes a statistic research on the municipal bonds issued since 2013 in China from the credit rating,issuance scales and issuance terms.Based on the statistic results and China's reality,the paper expounds the reasons of the rapid development of the municipal bonds and its influence on the China's institutional structure and economy and finance.On the basis of the above analysis,the paper makes the consideration on the problems existed in the development of the municipal bonds and puts forward relevant policy suggestions.