2014年以来，我国国民经济增速呈现温和放缓的态势，经济结构调整与各项改革稳步推进。债券市场在金融领域、资本市场的地位不断提升，债券发行、交易规模稳步扩大。在这一大背景下，企业债券市场也进行了改革创新，出台了更为规范、严格的发行制度，并推出了一些新的债券品种，如项目收益债、专项债等。从发行利率上来说，2014年以来呈逐步下行趋势；从发行规模上说，2014年同比稳步增长，而2015年上半年出现了一定波动。未来企业债券市场应该会呈现出调整再向好的态势，对支持实体经济建设、促进经济结构调整能够发挥一定的支撑作用。对于未来的发展，笔者认为，企业债券市场需要在包括制度、参与方、交易平台等几个方面进一步优化，并最终走向国际化。
Since 2014，China’s economic growth has been easing moderately，with its economic restructuring and reforms being carried out steadily. The bond market has played an increasingly important role in the financial and capital market and the scale of bond issuance and transaction has been expanding in a stable manner. Against that backdrop，reform innovation has also been carried out in the corporate bond market，where a more regulated and stricter issuance system has emerged and new bond products，such as project revenue bond and special bond，have been launched. The interest rate of the issued bonds has fallen gradually since 2014 and the scale of issuance rose steadily year-on-year in 2014，but fluctuated in the first half of 2015. In the future，the corporate market may first see corrections before booming again. It will play a role in supporting the real economy growth and economic restructuring. Regarding its future development，the authors hold that the corporate bond market needs to improve in terms of system，participants and transaction platform before it gets globalized.
