Abstract：At present, despite a bank-oriented financial system in China, the enterprise bond market has developed rapidly. China’s debt structure is evolving. What is relationship among the enterprise bond, bank loan and stock? At the same time, China’s macro economic environment has changed quickly in recent 20 years. A number of important economic indicators such as the central bank benchmark interest rate, economic monetization have been adjusted to be marketized, but do these factors really have some influence on China’s macro debt structure? This article studies how these macroeconomic factors to influence debt structure evolution of Chinese by time series analysis focusing on the analysis on the relationship between macroeconomic variables and overall debt structure, also explaining the evolution of enterprise bond development.
2012, Vol. 1 
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