People's Bank of China Deputy Governor Yi Gang said Monday, in spite of the assorted sorts of company bonds in fresh years that there had been some development, but the complete scale of development is still quite tiny, for this six-pronged force from the company bonds market.
Yi Gang sharp out that the origin of China's business bond market lagged behind the development of an significant cause is that the risk of business bonds, disposal and administration problems.
To this end, Yi Gang from the six environs recommended to enhance the scope for of disposal and organisation of risk, and endorse the development of company bonds, embracing advanced market transparency, fortifying the bonds of the principle information; to endorse the development of the bond grading instrumentalities, fortify the bond grading instrumentalities market positioning and the job of research; cultivate certified institutional investors, institutional investors play in the organisation of risk and distribute the threats and other advantages; to fortify market infrastructure, enhance the company bond issuance, underwriting, trusteeship and liquidation and other bonds .
He supplemented that market controllers should be reinforced, it is essential to bypass over-regulation producing from the economic despondency, the development of the market constraints and to bypass over-confident that the market structure and business governance shareholder binding, premier to guideline is not in place.
Corporate bonds to raise long-term funds for the general public to borrow money, and from indirect financing such as bank loans compared to bonds form of direct financing such as lower financing costs and, therefore, more conducive to the development of corporate finance.
Yi Gang sharp out that the development of business bonds lagged behind the development of other economic markets, need of direct financing of the development will not only outcome in the accumulation of bank risk and sway the steadiness of the economic scheme and economic markets will furthermore sway the wideness and deepness, limiting the market function and to farther enhance market efficiency.
Yi Gang sharp out that the origin of China's business bond market lagged behind the development of an significant cause is that the risk of business bonds, disposal and administration problems.
To this end, Yi Gang from the six environs recommended to enhance the scope for of disposal and organisation of risk, and endorse the development of company bonds, embracing advanced market transparency, fortifying the bonds of the principle information; to endorse the development of the bond grading instrumentalities, fortify the bond grading instrumentalities market positioning and the job of research; cultivate certified institutional investors, institutional investors play in the organisation of risk and distribute the threats and other advantages; to fortify market infrastructure, enhance the company bond issuance, underwriting, trusteeship and liquidation and other bonds .
He supplemented that market controllers should be reinforced, it is essential to bypass over-regulation producing from the economic despondency, the development of the market constraints and to bypass over-confident that the market structure and business governance shareholder binding, premier to guideline is not in place.
Corporate bonds to raise long-term funds for the general public to borrow money, and from indirect financing such as bank loans compared to bonds form of direct financing such as lower financing costs and, therefore, more conducive to the development of corporate finance.
Yi Gang sharp out that the development of business bonds lagged behind the development of other economic markets, need of direct financing of the development will not only outcome in the accumulation of bank risk and sway the steadiness of the economic scheme and economic markets will furthermore sway the wideness and deepness, limiting the market function and to farther enhance market efficiency.
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