Abstract
As a financing tool with the characteristics of debt, stock, and option, convertible bonds have achieved a great development in Europe. China’s convertible bonds market faces a series of problems, including public issuing, policy support for traditional industries, absence of short mechanism, and convergence of product design. China must summarize experiences from European market, apply support policies, and build a convertible market with sustainable development by means of perfecting the credit grading system, releasing the market entrance restrictions, encouraging innovations in product design and issuing ways.
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