Countermeasure Research, Development Of Financing Bills Market

Financing paper is one kind of commercial paper which lacks the underground of real merchandise trade transaction, whose goal is purely to financing. Financing paper is an important financing instrument in a mature commercial paper market. In fact, in the money market of economy development countries, the main function of paper is financing. In our paper market, the existence of financing paper reflects the objective demand of the market from one market economy, provide there is demand, there must be corresponding means to meet these demand. When the reasonable financing need cannot be met, the enterprise will be forced to find another way. But, compared to the economy developed countries, there are still many problems to be resolved urgently, such as the variety of paper, the function's tapping, and the consciousness of investors, relevant laws and the supervision of financial setup.In this thesis, the author deeply analyses the nature, economic function and risk of financing paper market in America and Europe, Initially probes into the reasons of the situations that our financing paper market appears at present from four aspects: financing cost, competent between banks, demand of commercial banks improving assets construction and shortage of supervision; analyses the necessity of developing financing paper market in our country from several aspects; extend the types of paper instrument, low the supervision cost, develop and improve the transaction of commercial banks, resolve the financing difficulty of middle and mini enterprises, improve the social credit system, market the interest rate, and perfect the conduction mechanism of monetary policies; at the same time, the author draws the lessons from the foreign countries in which the paper market is very flourishing, and initially probes into the necessary conditions and possible risk to develop a financing paper market; explain that at present time, there are many barriers in the road leading to a mature financing paper market, for example, the circulation of paper is not active, specialized paper trade agency are lack and relevant systems id not respective. At last, the author suggests some advices to the process of developing the financing paper market from the paper law, from the social credit system, from the specialized paper trade agency and paper risk management.