The Study About The Control System Of Corporate Bonds Risk In China

Corporate bonds is that the company issues according to legal procedures, arranges negotiable securities paying back the capital plus interest within all above time limit in one year.In the capital market, corporate bonds and government bonds, stock, together as the three basic securities.From the current financing structure, the corporate finance has been the excessive reliance on banks,The further development of bond markets without doubt is way that solve our country indirect financing to account for the proportion to be oversized, direct finance development serious insufficient, is also inevitable choice to reduce the financial risk, the enhancement financing efficiency.On August 14,2007, the China Securities Regulatory Commission officially promulgated and implemented, "the experimental method the issue of corporate bonds.""Experimental methods" adopted,is the important action that implements and realizes the national finance work conference on the "speed up the development of bond markets" work arrangements, symbolizes our country Cororate bonds release work official start.However we should see while the debenture bond release procedure simplification and condition relaxation's, debenture bond's market risk increases along with it, the protection of the interests of the bondholders become particularly prominent.And after corporate bonds release scale expansion, undertakes the credit obligation of warranty or the comprehensive supervision depending on the government definitely is not realistic,so be going to continue pushing forward development and perfection of our country cororate bonds marketplace,an essential premise is:to build an effective risk control system for corporate bonds.Therefore, we must understand correctly Our country debenture bond current faces the risk, guards against and controls the new risk production, melts the risk which early already formed,Corporate bond risk control is gradually increased for the operation and management of an important component,Establishes and consummates Our country debenture bond risk control system to be imperativeIn this paper, the second chapter elaborated the theoretical framework of our country corporate bond risk control system from what are corporate bonds, corporate bond risk,the internal control theory and the prudential supervision theory; The third chapter elaborated the mature market debenture bond risk control from the internal control, the government supervision, the profession autonomy; The fourth chapter first introduced Our country corporate bonds market's development process, in accordance with the different competent authorities, then has analyzed the existence of the problem of corporate bonds; The fifth chapter elaborated how to perfect our country cororate bonds risk control system from the internal control and external supervision.