Corporate Bond Research

Author: Yang Ping
Publisher:
Publish Date: 2004-04-01
Features: The economic phenomenon of corporate bonds and the corporate bond market exhibits distinct characteristics in China. The earliest corporate bonds in China emerged in 1984 and have since developed for nearly 20 years. During this process, as an important form of direct financing, corporate bonds have made significant contributions to the national economic development since China's reform and opening-up. With the continuous deepening of the economic system reform and the development of the stock market to a certain stage, the importance of the bond market in improving the structure of the capital market, broadening corporate financing channels, and providing investors with asset and risk management tools has become increasingly prominent. However, the contradictions and issues that have emerged and persisted in the corporate bond market during its birth and development have become increasingly prominent. They have now become one of the essential tasks that China's economic development and system reform must address, urgently requiring in-depth understanding and research to resolve. Supported by the Hong Kong Fund of the Macro-Economic Research Institute of the former State Planning Commission, we conducted research on China's corporate bonds. This book is compiled based on the research findings of "Corporate Bond Research," a project organized and completed by the Investment Research Institute of the former State Planning Commission. The book is divided into 8 chapters and 3 appendices, introducing corporate bonds, government bonds, and corporate bonds, the development history and current status of China's corporate bonds, the achievements and issues in the development of China's corporate bonds, local municipal corporate bonds, and more.