The Research On The Development Of China's Corporate Bond Market

Enterprise bond market has always been an important part of finance market, andit is also an important channel of direct financing for enterprises. Its development would not only help to diversify the financing sources of enterprises, to optimize theircapital structure, and to satisfy investors'various demands, but also play an important role in the improvement of security market and the development of national economy. Compared with domestic stock market and public debt market, the development of our enterprise bond market is relatively slow. There are many reasons, like mechanism of the market is not good, the principal parts of the market are not mature,the requirement of in-time information disclosure and credit appraisal doesn't function well, and people also still do not have a right cognition about enterprise bondmarket and stock market. Through the analysis of the current situation of our enterprise bond market, we can find the factors that restrict the development of our enterprise bond market. By using the successful experience of enterprise bond marketin developed countries for reference, we can bring forward some suggestion to furtherdevelop our enterprise bond market. Without doubt, to ensure the healthydevelopment of our enterprise bond market is full of momentous theoretic andpractical significance.Based on a brief theoretical retrospect and summary of the relevant research works on corporate bond in China, this thesis defines the connotation and scope of corporate bond, compares the difference of corporate financing methods, analyzes the difference and relation between corporate bond and enterprise bond and others, states the history evolution and the current status of enterprise bond market and corporate bond market practice in China, also summarizes the experience and lessons. Reference to the experience and lessons of China and other countries, the thesis arrives at a conclusion that it is very essential to develop the corporate bond and its market, because it can improve corporate capital structure, help the development of financial markets, enhance the capacity to counter financial risks, contribute to the economic development, and so on. At the end of the thesis, some advices are also brought forward on how to develop our corporate bond market from five aspects.