Municipal Bond Financing Problems And Countermeasures Research In China

In recent years, with the accelerating process of urbanization, local governments urgently need to find new financing channels to solve problems of urbanization process of building much-needed funds. Relative to other financing drawbacks, municipal bonds has its own advantages. In the world, some developed countries with well-developed domestic capital markets, in terms of municipal bonds, have successful experience. In this international and domestic background, our municipal bond financing problems and countermeasures have theoretical and practical double meaning.The full text mainly adopts the method of combining quantitative and qualitative analysis. First, the article introduced the research background and significance, research methods and significance as well as the problems in the research process and the corresponding solutions. In theoretical analysis of municipal bond financing, mainly through the introduction of the concept, characteristics of municipal bonds and related theoretical basis, to reveal the theoretical significance of issuing municipal bond in our country. By history and current situation of the development of municipal bonds, pointing out the problems of its development, for example, in Beijing, the use of the default risk model KMV empirical analysis, the issue size reasonable. Internationally, there is a mature municipal bond financing development for reference, the main research in the United States, Japan and Australia three countries issuance of municipal bonds. Finally, suggest improvements and recommend our current municipal bond financing regime, and summary.