Research Of Construction Regional Enterprise Bond Market

In recent years, the status of corporate bonds in the domestic capital market has beenincreasingly paid more and more attention, enable our country’s enterprise bond market toobtain the rapid development, opened the new financing channel for many major industries.In the meantime, the number of domestic small and medium enterprises is very large, andmade a significant contribution to the national economic development, but the development ofthe small and medium enterprises in the bond market was relatively slow. In Hebei province,the small and medium enterprises promote the economic growth, increased the employment,but a lot of small and medium enterprises of Hebei province in the financial crisis isstruggling, which was unable to raise the necessary funds and led to a management crisis, oreven bankruptcy. There are many domestic scholars have begun to research on Hebei financialstructure optimization, research on issues such as how small and medium-sized enterprise outof the woods, and to put forward their views and solutions. The Hebei provincial governmentand the relevant departments have recognized the problems faced by the small andmedium-sized enterprise, who has provided some favorable treatment for the small andmedium-sized enterprise, in the legal, the system as well as the service. But I think this doesnot completely solve the plight of the small and medium enterprises in Hebei province,through the analysis and the research, this article think that the establishment of regionalenterprise bonds for small and medium-sized enterprises provides a new direction, thus stoodin a new angle proposed the plan that can solve the difficult problem faced by small andmedium-sized enterprise.This article is composed of four parts, the first part introduced the background of selectthis subject, as well as the significance of the research, elaborated on the domestic and foreignscholars’s study about corporate bond market, and summarizes the main framework andinnovation point for this article. The second part analyses and elaborate on status quo in Hebeiprovince from the necessity and feasibility of building a regional bond market. Necessity ismainly from the culture of corporate bond market to create an enabling environment topromote regional economic development, in favor of widening the financing channels forenterprises in the region, to resolve the fund insufficient due to shortage of informationasymmetry, to reduce the cost of the supply and demand of funds. Feasibility is from themarket basis of Hebei province underlying, the institutional and policy support three aspects to carry on the discussion. The third part carries on discussion the chief obstacles whichpossibly could face in its construction process, and propose the corresponding solutionstrategy. The fourth part construct the regional corporate bond market based on the reality inline with the financial environment in Hebei Province, from its mode of operation, regulatoryframework, risk management three aspects has carried on the design.