Factors And Countermeasures Of Our Enterprise Direct Financing Of External Constraints

At the 12th session of international banking congress, The president of People's Bank of China—Zhou Xiaochuan pointed out that, "Adopting the effective action to develop capital market, and expanding direct financing channel, will be one of the most important domains of monetary system reform recently". Why the direct financing can be gived attention is our country proportion between direct financing and the indirect financing seriously is out of balance. The indirect financing proportion stays at a high level, moreover also is continuing to grow. In this kind of situation, the risk concentrates in the financial organ, at the same time, banks which are limited by all sorts of reasons, can loan the fund limitedly, so the massive enterprises could not finance the fund which needs, therefore enhanced our country direct financing proportion already to be imminent.My paper expatiate financing concept and the theory, and then analyze situation of our country. I summarize exterior factors which restrict direct financing development from analyzing stock market and the bond market, and propose method or the suggestion to solve the question. At last, to the difficulties of financing of high-tech enterprise,I carry on the research that the second...