城投企业

然而由于主体地位不明确和投融资体制尚未理顺，部分城投企业面临着战略发展的资金瓶颈。

But some corporations are blocked with lack of capital because their responsibility and the investment mechanism have not been clearly defined .

国家出台宏观政策，规范地方城投企业融资行为，使得地方城投企业融资更加艰难。

Now the state has issued policies to regulate financing behaviors of local corporations . These polices made the local corporations more difficult .

截至目前，城投类企业债的发行量已占据企业债券总量的半壁江山，推动着其成为债券市场中的重要投资品种。

The circulation of the Quasi-municipal Bond have accounted for half of the total corporate bonds , driving in the bond market investment products .

既然城投类企业债券作为一种投资产品，投资者关注的自然是自身的利益是否能得到合法保证以及投资产品本身的风险能否得到合理披露。

Since the Quasi-municipal Bond as an investment product , investor care about naturally their own interests can be legally protected or not and whether the risk of investment products can have a reasonable disclosure .

鉴于我国地方政府不能发债的实际情况，城投类企业债券由此产生，其对推动城市基础设施和市政设施的建设，起到了非常积极的作用。

Given the actual situation of Chinese local government having not the authority of the bond issuance , the Quasi-municipal Bond are having played a very active role to promote the construction of urban infrastructure and municipal facilities .