At present, there are many kinds of bonds, and the rating system is adopted for bonds and the qualified investor system is adopted for investors.

Eligible bonds (such as treasury bonds and 3A bonds) can be traded at any time, but bonds below 3A can only be bought and sold by qualified investors during trading hours, and bonds that are not listed and circulated cannot be bought and sold in the market at any time.

Tian Hong Li Yong bond is a "fixed income plus" product. As of June 30, 20021year, the Fund has achieved positive returns every year for the past nine years, with an annualized rate of return of 6.59% in the last five years, 10.88% in the last three years and 13.82% in the last six years.