长期以来,企业融资方式一直以间接融资方式银行贷款为主,直接融资渠道狭窄。自2005年5月25日中国人民银行颁布了《短期融资券管理方法》以来,推出了新的债券市场创新品种——短期融资券。短期融资券的适时推出对拓宽企业直接融资渠道、改变直接融资与间接融资比例失调、疏通货币政策传导机制、防止广义货币供应量过快增长、促进货币市场与资本市场协调发展、维护金融整体稳定具有重要的战略意义。短期融资券作为一种无担保的信用产品,是直接融资方式的重大突破和金融市场建设的重要举措。 For a long time, corporate financing has been dominated by indirect financing of bank loans, direct financing channels are narrow. Since the People’s Bank of China promulgated the “Management Method for Short-term Financing Bonds” on May 25, 2005, the Bank has launched a new bond market innovation product, short-term financing bonds. The timely introduction of short-term financing bills to broaden the direct financing channels for enterprises to change the imbalance between direct financing and indirect financing, clear monetary policy transmission mechanism to prevent excessive growth of broad money supply, promote the coordinated development of the money market and capital markets, and safeguard the overall financial stability Has important strategic significance. As an unsecured credit product, short-term financing bills are a major breakthrough in direct financing and important measures in the construction of financial markets.