企业债券的信用风险以及我国企业债券市场的发展

Credit Risk on Corporate Bond and Bond Market——A discussion of infrastructure of corporate bond market

对企业债券信用风险的认识关乎我国企业债券市场发展的速度。企业债券有信用风险并不可怕 ,可怕的是投资人不知道风险程度。因此 ,企业债券市场建设的核心内容在于建立高信息透明度的制度保障环境。为此 ,需要政府强化监督信息披露职能 ,弱化质量把关职能 ,通过调整角色 。

The attitudes towards credit risk of corporate bonds by government are most important for Chinas corporate bond market development, which is now in the starting up phase. This research points out that the first thing government should do is to strengthen its function on guaranteeing a system with high degree of transparency on information, and weaken its function on controlling the quality of corporate bonds.