中國證(zheng)監會日前(qian)決定將(jiang)證(zheng)券(quan)公司(si)(si)短(duan)期(qi)公司(si)(si)債(zhai)券(quan)（下(xia)稱“短(duan)債(zhai)”）業務(wu)試點范圍擴展至所有(you)證(zheng)券(quan)公司(si)(si)，同時允許證(zheng)券(quan)公司(si)(si)開展融資(zi)融券(quan)收(shou)益(yi)權資(zi)產證(zheng)券(quan)化業務(wu)，進一步拓寬證(zheng)券(quan)公司(si)(si)融資(zi)渠(qu)道，支持證(zheng)券(quan)公司(si)(si)業務(wu)穩步開展。

　　上(shang)(shang)交(jiao)(jiao)所(suo)表示，已(yi)積(ji)極采取(qu)措施推動上(shang)(shang)述兩項(xiang)業(ye)務(wu)(wu)落實，支(zhi)持證券(quan)(quan)公(gong)(gong)(gong)司(si)(si)擴大融資渠道(dao)。一(yi)是(shi)切實促進(jin)證券(quan)(quan)公(gong)(gong)(gong)司(si)(si)短(duan)(duan)期(qi)公(gong)(gong)(gong)司(si)(si)債券(quan)(quan)業(ye)務(wu)(wu)開(kai)展。自去年中(zhong)國證監會發布20家證券(quan)(quan)公(gong)(gong)(gong)司(si)(si)試點發行(xing)(xing)(xing)短(duan)(duan)期(qi)公(gong)(gong)(gong)司(si)(si)債券(quan)(quan)相(xiang)關通知以來，上(shang)(shang)交(jiao)(jiao)所(suo)積(ji)極推動該業(ye)務(wu)(wu)的咨詢、輔(fu)導、備(bei)案和掛牌轉(zhuan)讓(rang)等(deng)工(gong)作，并(bing)于近期(qi)將(jiang)短(duan)(duan)期(qi)公(gong)(gong)(gong)司(si)(si)債券(quan)(quan)納(na)入(ru)非公(gong)(gong)(gong)開(kai)發行(xing)(xing)(xing)公(gong)(gong)(gong)司(si)(si)債券(quan)(quan)業(ye)務(wu)(wu)管理，繼續為證券(quan)(quan)公(gong)(gong)(gong)司(si)(si)提供短(duan)(duan)期(qi)融資服務(wu)(wu)。截至目前(qian)，已(yi)有累(lei)計13家證券(quan)(quan)公(gong)(gong)(gong)司(si)(si)（含證金公(gong)(gong)(gong)司(si)(si)）在上(shang)(shang)交(jiao)(jiao)所(suo)申報發行(xing)(xing)(xing)短(duan)(duan)期(qi)公(gong)(gong)(gong)司(si)(si)債券(quan)(quan)，備(bei)案金額(e)達(da)1464億元；其中(zhong)27只已(yi)完成發行(xing)(xing)(xing)，發行(xing)(xing)(xing)金額(e)合計914億元，加權平均(jun)利率為5.35%。

　　此次(ci)擴(kuo)大試(shi)點范圍至所有證(zheng)券公(gong)(gong)司(si)后，證(zheng)券公(gong)(gong)司(si)更是反(fan)應積(ji)極(ji)，不少(shao)已主動(dong)(dong)聯系上(shang)交所咨詢相關業(ye)務(wu)(wu)流(liu)程。上(shang)交所對業(ye)務(wu)(wu)試(shi)點擴(kuo)容表示積(ji)極(ji)支(zhi)持，將(jiang)在(zai)項目申報管理上(shang)提高處理效率(lv)，項目材料齊備的將(jiang)由(you)專人負(fu)責，并在(zai)5個工作日內出具掛牌(pai)轉讓無(wu)異議函，大力推動(dong)(dong)證(zheng)券公(gong)(gong)司(si)短期(qi)公(gong)(gong)司(si)債券業(ye)務(wu)(wu)的全面鋪(pu)開。

　　二(er)是全力推動證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)公(gong)(gong)司兩(liang)(liang)融(rong)(rong)資(zi)產(chan)(chan)證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)化業(ye)(ye)務(wu)落(luo)實。近年來，證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)公(gong)(gong)司融(rong)(rong)資(zi)融(rong)(rong)券(quan)(quan)(quan)(quan)業(ye)(ye)務(wu)市(shi)(shi)場(chang)規模快速(su)增長。截(jie)至6月底，滬深兩(liang)(liang)市(shi)(shi)融(rong)(rong)資(zi)余額已(yi)接近2萬億(yi)元(yuan)，其中滬市(shi)(shi)融(rong)(rong)資(zi)余額為1.27萬億(yi)元(yuan)。總體上，兩(liang)(liang)融(rong)(rong)業(ye)(ye)務(wu)的風險控制措施較完善，屬(shu)于證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)公(gong)(gong)司的優質(zhi)資(zi)產(chan)(chan)。兩(liang)(liang)融(rong)(rong)資(zi)產(chan)(chan)證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)化是將證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)公(gong)(gong)司融(rong)(rong)資(zi)融(rong)(rong)券(quan)(quan)(quan)(quan)業(ye)(ye)務(wu)中產(chan)(chan)生的融(rong)(rong)出(chu)資(zi)金債權進(jin)行(xing)資(zi)產(chan)(chan)證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)化，可以(yi)盤活證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)公(gong)(gong)司的優質(zhi)存量資(zi)產(chan)(chan)，為證(zheng)(zheng)(zheng)券(quan)(quan)(quan)(quan)公(gong)(gong)司提供合規和低成(cheng)本的融(rong)(rong)資(zi)渠道，可促進(jin)融(rong)(rong)資(zi)融(rong)(rong)券(quan)(quan)(quan)(quan)業(ye)(ye)務(wu)良性循環。

　　前期在中國證(zheng)(zheng)監(jian)會(hui)的(de)指導下，上交(jiao)(jiao)(jiao)所(suo)已與相關證(zheng)(zheng)券公(gong)司(si)對兩(liang)融(rong)(rong)資產(chan)證(zheng)(zheng)券化(hua)的(de)可行(xing)性(xing)進行(xing)了論(lun)證(zheng)(zheng)，并形成(cheng)了較成(cheng)熟的(de)項(xiang)目(mu)方案(an)。證(zheng)(zheng)監(jian)會(hui)宣(xuan)布允許證(zheng)(zheng)券公(gong)司(si)開展兩(liang)融(rong)(rong)資產(chan)證(zheng)(zheng)券化(hua)業務(wu)后，多家兩(liang)融(rong)(rong)余額(e)排名靠前的(de)證(zheng)(zheng)券公(gong)司(si)已聯(lian)系上交(jiao)(jiao)(jiao)所(suo)咨詢(xun)相關業務(wu)流程及方案(an)要點，并積極準備(bei)兩(liang)融(rong)(rong)資產(chan)證(zheng)(zheng)券化(hua)項(xiang)目(mu)。上交(jiao)(jiao)(jiao)所(suo)表示(shi)，將(jiang)大力支持證(zheng)(zheng)券公(gong)司(si)開展兩(liang)融(rong)(rong)資產(chan)證(zheng)(zheng)券化(hua)業務(wu)，協助證(zheng)(zheng)券公(gong)司(si)完善項(xiang)目(mu)方案(an)，提高(gao)掛牌(pai)轉讓申請受理效率(lv)，同(tong)時做好業務(wu)開展中的(de)風險把(ba)控。

　　深交(jiao)所表示，自2014年10月(yue)短(duan)債(zhai)試點發(fa)布(bu)以來，有發(fa)行資(zi)(zi)(zi)質認可的(de)(de)20家券(quan)商積極參與，效果(guo)良(liang)好。截至2015年6月(yue)30日，在深交(jiao)所取得無異議(yi)函（或備案(an)通知書）的(de)(de)短(duan)債(zhai)發(fa)行人為(wei)9家，共完成(cheng)發(fa)行35只，金額(e)總計為(wei)1028.7億元(yuan)。證券(quan)公司發(fa)行短(duan)債(zhai)不僅解決了其融(rong)資(zi)(zi)(zi)渠道有限(xian)(xian)、融(rong)資(zi)(zi)(zi)品種單一、融(rong)資(zi)(zi)(zi)成(cheng)本高企、融(rong)資(zi)(zi)(zi)額(e)度嚴重受限(xian)(xian)的(de)(de)問題，同時為(wei)券(quan)商提供了市場化的(de)(de)短(duan)期融(rong)資(zi)(zi)(zi)工具和渠道，有效地提高證券(quan)公司的(de)(de)融(rong)資(zi)(zi)(zi)能力。

　　目前，為方便全(quan)行業證券公司短債發(fa)行，深(shen)交所短債轉(zhuan)讓條件(jian)確認(ren)申(shen)請采用便捷的電子化申(shen)報渠(qu)道(dao)，完備性核(he)對采取綠色通道(dao)的形式(shi)，如申(shen)報材料齊(qi)備且符合非公開發(fa)行相(xiang)關要求(qiu)即可最快在兩個工作日內(nei)獲取《轉(zhuan)讓條件(jian)確認(ren)無異議函》。

　　在(zai)融資(zi)融券(quan)資(zi)產證(zheng)券(quan)化方面(mian)，深交所一直積極支持和(he)拓展包括(kuo)融資(zi)融券(quan)債權、股票(piao)質押(ya)回(hui)購債權、商業物業不動產、保障(zhang)房建設等在(zai)內(nei)的創新基(ji)礎(chu)資(zi)產類型開展資(zi)產證(zheng)券(quan)化。針(zhen)對證(zheng)券(quan)公(gong)司融資(zi)債權資(zi)產證(zheng)券(quan)化，深交所前(qian)期已(yi)就基(ji)礎(chu)資(zi)產界定、基(ji)礎(chu)資(zi)產管理和(he)附屬擔保權益安排等方面(mian)進(jin)行多方論證(zheng)，已(yi)有項目進(jin)入掛牌條件確(que)認階(jie)段。

　　據(ju)悉(xi)，資(zi)(zi)產(chan)(chan)(chan)證券(quan)(quan)化(hua)業務(wu)實(shi)行備案制(zhi)以(yi)來(lai)，深交所不(bu)斷(duan)優化(hua)資(zi)(zi)產(chan)(chan)(chan)證券(quan)(quan)化(hua)掛牌(pai)轉(zhuan)(zhuan)讓(rang)業務(wu)流(liu)程，加強產(chan)(chan)(chan)品(pin)存(cun)續期(qi)持續信息披露監管。一(yi)方面(mian)，提(ti)(ti)高掛牌(pai)轉(zhuan)(zhuan)讓(rang)效(xiao)率(lv)(lv)，優化(hua)評(ping)(ping)審流(liu)程，推行采(cai)用同一(yi)交易(yi)結構的多期(qi)產(chan)(chan)(chan)品(pin)實(shi)施框(kuang)架式評(ping)(ping)審，提(ti)(ti)高成熟項目再次(ci)發行的評(ping)(ping)審效(xiao)率(lv)(lv)；另一(yi)方面(mian)，強化(hua)持續信息披露要(yao)求，發布《深圳證券(quan)(quan)交易(yi)所資(zi)(zi)產(chan)(chan)(chan)證券(quan)(quan)化(hua)業務(wu)信息披露格(ge)式第1-3號》。下一(yi)步深交所將繼(ji)續推動短債(zhai)擴容及融(rong)資(zi)(zi)融(rong)券(quan)(quan)資(zi)(zi)產(chan)(chan)(chan)證券(quan)(quan)化(hua)的落(luo)實(shi)工作，不(bu)斷(duan)提(ti)(ti)高服(fu)務(wu)質量(liang)和效(xiao)率(lv)(lv)，促(cu)進交易(yi)所債(zhai)券(quan)(quan)市場(chang)發展。