Since 1843 Erie Railway Co. in New York issued the first convertible bond, it has developed so fast with the height of financial marketing and larger intension of international competition.

• 自从1841年美国纽约Erie Railway公司发行世界上第一只可转换公司债券以来，随着金融市场化程度的提高和国际竞争的加剧，它在西方发达国家得到迅猛发展。