Asian corporate debt issuance continues robust growth, tripling the region's global market share over two decades and diversifying funding away from traditional bank loans. This development enhances capital allocation efficiency and long-term financing for firms, though it underscores the need for stronger credit risk frameworks—a key focus in business economics research on financial intermediation.[https://www.oecd.org/en/publications/asia-capital-markets-report-2025_02172cdc-en/full-report/corporate-debt-markets_7b3ae2b1.html][https://www.oecd.org/content/dam/oecd/en/publications/reports/2024/03/corporate-bond-markets-in-asia_d5380f1d/96192f4a-en.pdf]