发展企业债券市场的关键在于增强企业债券流动性

Enhancing the Liquidity of Corporate Bonds Is the Key to the Development of Corporate Bonds Market

我国企业债券市场的发展远远滞后于股票市场和国债市场的发展,其原因是企业债券市场缺乏流动性,无法吸引机构投资者,阻碍了企业债券的市场化进程。增强企业债券流动性的有效途径是增加企业债券品种和发债主体,调整债券结构,发展地方企业债券市场,培养机构投资者。

In the past,corporate bonds market developed much more slowly than stock market and national debt market in China.The main reason for this is lack of liquidity in the corporate bonds market which hinders the marketizing process of corporate bonds as it is of little attraction to the institutional investors.The efficienct approaches for enhancing the liquidity of corporate bonds are:(1)enriching corporate bonds kinds and bonds-issuing entities;(2)adjusting the bonds structure;(3)de-veloping local corporate bonds market and;(4)cultivating institutional investors.