我国企业债券市场流动性不足的原因及对策

Causes and countermeasures of the liquidity shortage of enterprise bonds market in our country

从发行和流通两方面分析了目前我国企业债券市场现状,认为我国企业债券市场流动性不足主要是由于管制过严、现有市场的不成熟和缺乏权威中介机构,以及社会横向信用体系缺失等原因。提出了扩大市场规模,完善交易机制,促进债券结构合理化,以及培育机构投资者和信用评级机构等对策。

This article analyzes the current situation of our corporate bonds market from issuance and circulation. It considers that the main reasons of liquidity shortage are the over strict regulation, the immature existing markets, the lack of authoritative intermediary organizations and the defects of social transverse credit system. It puts forward countermeasures of expanding market scale, improving transaction mechanism, promoting rationalizing bonds structure, cultivating institutional investors and credit rating agencies, etc.