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中国的“海外融资之旅”起步于债券发行。1982年1月,中国国际信托投资公司在日本东京发行100亿日元武士债券,标志着中国发行体首次进入国际债市,至今已有20年历史。然而在整个80年代,政府部门和国有金融机构对于通过国际债市筹资非常谨慎。1992年以后,中国在海外的发债量迅猛增长,1994年达到年发债总额36亿美元的高点,之后逐步回落。1997年以来,从宏观调
China’s “Overseas Financing Journey” started with bond issuance. In January 1982, China International Trust and Investment Corporation issued 10 billion yen warrior bonds in Tokyo, Japan, marking the first time for the Chinese issuers to enter the international bond market. It has a history of 20 years. However, throughout the 1980s, government agencies and state-owned financial institutions were very cautious about raising money through the international debt market. After 1992, China’s debt issuance increased rapidly overseas. In 1994, it reached a total high point of 3.6 billion U.S. dollars in debt issuance and then gradually declined. Since 1997, from the macro adjustment