Research On The Development Of Corporate Bond Market Of China In The Context Of Financial Crisis

The rare international financial crisis, triggered by the U.S subprime mortgage crisis, has spread to the world wild, and the world caught in an inevitable economic downturn period of adjustment and change. Since the third quarter of 2008, the influence of financial crisis on China's real economy has become increasingly apparent, China's exports fallen sharply, economic growth slowing, the employment pressure increased. Although the world shrouded in the shadow of the economic crisis and China's macro-economic got in doldrums, the corporate bond market is still showing bull market, and interest rates are low. Since the financial crisis broke out, corporate bond market has tempered forward in a complex domestic and international economic environment. On one hand, the global economic relapsed into downturn and the financial system in developed countries got tremendous undulation. As the central authorities have introduced a package of economic stimulus plan, macro-economy has gradually driven to recovery. On the other hand, while the corporate bond market welcomes the opportunity, it accumulates a large number of risks. Regulatory authorities, to strengthen risk management, guided the economy operated on stable,safe and effective, issued a series of risk management measures and financial institutions. The bonds are subject to restrictions. It can be seen that the financial crisis is not only violent storms, as well as opportunities. Corporate bond market faces for the cross of ice and fire. Combination ofThis paper used standardized research and empirical research method, macro and micro-analysis method. First of all to explain the theory of Chinese corporate bond market development, analysis the current development status. Studies have shown that a country or region in the course of economic development must be vigorously developing the corporate bond market. By comparing the current development status of the developed countries and Chinese corporate bond market, this paper in-depth analyzed the reason of Chinese corporate bond market's lags behind the development of the current situation. Chinese current business the bond market is still far from the requirements of national economic development. Then, further analyzed the opportunities and challenges that Chinese corporate bond market face for in the context of the current financial crisis.