| With the development of China’s capital market,corporate bonds have become the second most important policy for the implementation of China’s strategic deployment,the release of policy signals,the guidance of key industry development,and the docking of large-scale national key projects,thanks to its soundness and long-term sustainability after Treasury bonds.tool.Compared with other financing methods,corporate bond financing can be used for high-quality enterprises to integrate large-scale and long-term low-cost funds at one time.Therefore,corporate bonds are becoming an indispensable direct financing tool for China’s multi-level capital market.Yunnan Province actively responded to the call of the country to develop a real economy,and improving infrastructure construction has become the current primary goal.However,the funding gap required for development is relatively large.The capital market in Yunnan Province started late and developed slowly,and corporate bond financing is relatively small.Promote the province’s economic construction and infrastructure construction to maximize its effectiveness.Therefore,this article attempts to conduct in-depth research on the development of corporate bond financing in Yunnan Province.The full text of the study is based on the theoretical basis and significance of corporate bond financing,and compares it with the advantages of equity financing and bank loans respectively;from the aspects of macroeconomic policy orientation,financial infrastructure construction,and regional institutional constraints,financing of corporate bonds in Yunnan Province The macro market environment is analyzed;from the actual situation,through the comparison with the current situation of corporate bond financing in Jiangsu Province,the problems existing in the corporate bond financing in Yunnan Province are summarized: the constraints of government functions,and the lack of liquidity due to interest rate standardization.The four aspects of corporate governance structure defects and rating system defects;followed by empirical research SPSS factor analysis method,through the empirical analysis of the load matrix and variance contribution rate,a reasonable linkage analysis of the main variables that macro-influence factors of corporate bond issuance scale.The macro factors affecting the corporate bond financing in Yunnan Province are the investment and financing behavior of the market.Finally,through the combination of theoretical research and data analysis,five ideas for promoting the development of corporate bond financing in Yunnan Province have been proposed in a targeted manner from the three aspects of market environment,government departments,and enterprises,providing direction for the development of corporate bond financing in Yunnan Province..This article studies the overall situation of corporate bond financing in Yunnan Province from a macro perspective.Through analysis,it can provide us with a clearer understanding of the status quo of Yunnan’s corporate bond financing and place it in the national environment and discover the problems of bond financing in Yunnan Province.It will be able to provide reasonable and practical ideas for financing corporate bonds in Yunnan Province in the future. |
