basic control of project approval in less than a month

Bonds has exceeded 700 billion since the beginning, nearly 1.5 times of the last times this year, with the Central Bank repeatedly to improve deposit rates and lending rates, not only those who are not listed under the weight of SMEs facing money, even relatively easy to borrow financing problems of listed companies is not small. In the case of loans, issuance of rights issue difficult to lastCompanies have been turning to debt financing. According to the WIND information data shows that listed companies this year issued debt of over $ 700 billion (including corporate bonds, convertible bonds, medium-term notes, and short-term financing bonds, the same below), far more than for 2010 as a scale. 　　Solutions capital bonds as thirst, also provides new investments. Bond of the year Super40% more than last year according to WIND information shows, as of November 17, this year a total of 237 Trojan issued $ 705.57 billion worth of bonds of listed companies, throughout 2010, Shanghai and Shenzhen stock markets for a total of 155 companies issued bonds, issuing scale of 483.655 billion yuan. By contrast, this year, the listed companyDebt sales compared with last year's total of $ 221.915 billion has been a surge swtor power leveling, by 45.89%. Straight flush (300,033) data and statistics show that in January-October, Shanghai and Shenzhen on the issue and rights financed respectively $ 371.8 billion and $. Industry analysts believe that, in the context of stock market weakness, increased the allotment financing more difficult trip the old republic power leveling, listingCompanies financed by bond market has become the new way forward. 　　New express statistics found that as of November 25, this year a total of 379 notice of listed companies issued bonds, size of October there were 79.8 billion yuan. "In the case of returns in the stock market overall is lower now, vigorously develop the bond financing capital market as a whole will benefit."Beijing yanjing overseas Chinese University Chancellor Watson is the comments. 　　Watson said listed companies are among the best and most important part of China's enterprises, if this part of the financing of enterprises from bank loans to the independent issue bonds would allow the Bank significantly reduced demand for loans. Assistant General Manager Xia Jianting thought of Shanghai Stock Exchange corporate bonds can also be expanded,Speed up development. It explained that the national debt, financial bond issuance greatly, truly based on enterprise credit credit debt market (including corporate bonds, corporate bonds, medium-term notes and short-term financing bonds) is the amount of 4 trillion, accounted for the entire debt stock of 20%, small and medium enterprises financing difficulty of problems is not yet valid key. National credit, quasi-State credit bonds accounted for a total amount of bonds in China80%, this ratio is far from equilibrium. 　　This reporter has learned in a mature capital markets, debt is much more than equity financing, such as the United States share of corporate bonds, government bonds, equities, 60% and 10% respectively, and therefore, the development of domestic bond markets is still at a low level, there is still a lot of room to improve in the future. Recently the Commission launchedSecond Board listed companies private placement bonds, company will also join the bond force next gem. Independent financial writer Pi Haizhou yearn for this, "said bond as second board companies and our main way of refinancing of listed companies, which is obviously conducive to relieve pressure on the refinancing of stock market faces. Because by issuing bonds, not only to maintain or even improve direct financingSpecific gravity, but also to relieve pressure on refinancing of the a-share ", and" through bond financing, can also reduce the listed companies ' money ' mentality, increase return on listed companies. Through debt financing, also may enhance your planned funds of listed companies, changing ' lavish ' spending habit. "On the coupon rate is up to 9%Municipal bond financing "blowout" phenomenon, insiders explained that the Securities and Futures Commission to promote the development of corporate bonds currently implementing "green passage" system, auditing procedures considerably simplified, basic control of project approval in less than a month, at the same time, banking, insurance and other large institutions are permitted to enter the corporate bond market, the Exchange also will enhance the company's debt position in its entirety. From a company perspectiveSee issue bonds subject to approval of high efficiency, time is short, it is currently issuing costs are lower in 2011, issuance of corporate bonds issued guiding interest rates interest rates below the medium-term bills. For example guotai Junan primary underwriting 11 debt issues at Nangang guiding interest rates 40 basis points in interest rates earlier. In addition, with the rapid expansion of corporate bond market, a large number of investors are permitted to enter, corporate bond issuanceSize gradually increased. Data show that as of November 22, to issue corporate bonds with an average size was 1.52 billion yuan this year. That the corporate bond market to meet the financing needs of public companies. However, with the Central Bank raising interest rates three times this year, debt issuance costs of listed companies have gradually rose. New Express Reporter statistics found that since the beginning of January this year, with the exception of May and June issue ratesOutside the ring fell slightly, remaining month bond interest rates are to grow month by month, its average issue rate will reach, 4.24%, 5.06%, 5.42%, 5.56%, 5.4%, 6.76%, 6.79%,, which means that bond interest rates in recent months has been creepingWill be implemented early next year at least 5 years of benchmark lending rate (if no interest rate cuts by the end, from January 1 next year, more than 5-year benchmark lending rate from five rose to 6.4%). 　　Judging from the average bond rate, per cent in January this year has exploded to per cent in November, an increase of up to 63.92%. Incomplete statistics,There are currently 48 corporate bond's coupon rate is greater than 7.05%, Changzheng electric (600,112) corporate bond coupon rate as high as 9%, refresh this year a single listed company corporate bond coupon rate on record. Apart from Changzheng electric, Jiangxi cement (000789), Dunan environment (002011), rose to forestry (002259), tengda construction (600,512), kaidi electric power (000939), Xinxiang chemical fiber (000949), in the Lee of science and technology (002309), South (000948), the new radicals (000972), Han's laser (002008), shanying paper (600,567), xinan shares (600,596), Jilin forest industry (600,189), and huayi brothers (300,027) 14 listed companies such as bond rates also reach or even exceed 8%.