文档介绍：中国式市政债券—城投债发行问题研究
摘要
随着我国城镇化的不断推进,地方债务规模也快速增长。由于我
国财政体系和金融体制对地方政府融资的限制,各级地方政府纷纷组
建地方融资平台发行城投债,而这种城投债与国外的市政债券类似,
但是又具有鲜明的中国特色。随着我国地方债务危机的浮现,城投债
一时间成了国际社会关注的焦点之一。本文将通过对美国、日本两国
的市政债券发行模式对比分析,梳理我国城投债发展的轨迹,并结合
某城投公司发行城投债的实际案例,探讨我国城投债目前存在的问题
以及目前地方政府以城投公司名义搭建融资平台,发行城投债的方式
进行融资是否是我国解决地方政府城镇化过程中资金问题较好的出
路,在地方债务压力较大的情况下,城投债这种发行模式应如何作出
调整等问题。
关键词:城投债,市政债券,债券发行,问题研究
万方数据
Chinese Municipal bonds—
City Construction Investment Bond Issuance Problems
Research
ABSTRACT
With the continuous progress of China's urbanization, the size of local
debts is growing rapidly. Because of China's financial system and financial
restrictions on local government financing, local governments have set up
local financing platforms to issue City Construction investment Bond, and
City Construction investment Bond is similar to municipal bond in western,
but it has distinct Chinese characteristics. With the emergence of the risk of
China's local debt crisis, City Construction investment bond became the
focus of international attention. In this paper, through the United States,
Japan and China'parative analysis of municipal bond issuance mode,
the development track of City Construction Investment bond is classified.
bined with an actual case, this paper analyzed the existing
problems of current model of City Construction Investment bond issuance,
and discussed how this model should be adjusted and other issues.
KEY WORDS:City Construction Investment Bond, Municipal Bond,
Bond issuance,Problem research
万方数据
目录
第一章绪论..................................................................................................................................... 1
研究背景............................................................................................................................ 1
研究问题..................................................................................................