Research On Road Enterprise Bond Financing Development In China

In recent years, China gradually accelerate the pace of highway construction, but funding has always been plagued with highway construction. To resolve the funding problems, especially in road infrastructure construction projects of investment, using a variety of means of financing, but have yet to be fundamentally out of a single investment and financing channels narrow, the ratio of indirect financing, the use of a low level of capital market Situation. The bond market capital is an important component of the market, bond financing as a direct means of financing, a debt capital, corporate financing is an important way. However, bond financing of smaller scale, compared to mature foreign capital markets , China's road of listed companies to issue bonds with the total number of the lower scale, in urgent need of improvement.In this paper, the system of highway bonds issued by listed companies was analyzed, in the beginning part of the research paper on the theory and thrust. In the second chapter to introduce China financial environment, the environment and through the financial system accurately described the location of the highway bonds listed status. The third chapter introduces the highway listed company's characteristics and analysis bond financing feasibility, by contrast, pointed out that bond financing is feasible and potential. Chapter IV of this paper is through the issuance of corporate bonds on the conditions and legal requirements claims the price risk, credit rating, use and the return of a series of procedures such as the interpretation of the composition of a listed company bonds, corporate bonds listed on the highway with systemic. Chapter V of the paper predict the direction of bond development and determine the future road of listed companies to issue bonds, corporate bonds and convertible bonds to develop the focus of market, also detailed the company's debt and convertible bonds of the pros and cons.In this paper, the final conclusions of the article on the part of the new summary of views, and pointed out t the existence of deficiencies in the papers.