江浙沪地区企业短期融资券发展状况调查

An Investigation Report on the Issue of Commercial Paper by Enterprises in the Yangtze River Delta

自2005年4月首只短券发行以来,江浙沪二省一市企业积极利用短券进行融资。发行短券有效降低了区域内企业融资成本,改善了融资结构,提高了企业的影响力,而且江浙沪已成为短券融资最多的地区之一。然而,与江浙沪二省一市的经济结构、产业特点相比而言,企业在短期融资券方面的需求仍受多方面的限制,主要是相对严格的管理抑制了企业发行意愿,民营企业和中小企业的发行需求难以满足。

Enterprises in the Yangtze River Delta have positively issuing commercial paper （CP） in financing since April, 2005. Commercial paper benefited enterprises in ZheJiang, Jiangsu and Shanghai. It reduced there financial costs, improved their financial structure, promoted their influences, and so on. However, considering the economic structure and traits in this area, financing demand of enterprises there is still constrained by strict regulation. Private company and SME still lack access to financial tool.