Abstract: International experience shows that high-yield bond promotes the development of emerging industries and enterprises effectively. Issuing high-yield bond by high-tech enterprises will benefit in cultivating and developing strategic emerging industries, solving the financing difficulties of technology innovation, deepening finance reform, and enriching the content of S&T and finance combination. This paper points that although it's a suitable time to issue high-yield bond now, there are still lots of factors need to pay attention to, such as trade rules, supporting system development, etc.