The high cost of selling bonds is due to the need to control the investment risk of funds through low stock positions, and at the same time, to improve the profitability of assets with appropriate bond investment, which can reduce the average cost.

The transaction costs of different bonds are different, and the transaction costs (commissions) of bonds are related to the types of bonds and bond companies. Commission refers to the fees paid by investors to brokers according to a certain proportion of the transaction amount after the entrusted securities are closed.

Transaction fees (commissions) are charged as follows:

1, Shanghai Stock Exchange, the commission of A shares is 0.3‰ of the transaction amount, starting from 5 yuan; The bond commission is 0. 1‰ of the transaction amount, starting from 5 yuan; The commission of the fund is 0.3‰ of the transaction amount, starting from 5 yuan; The commission of the securities investment fund is 0.3‰ of the transaction amount, starting from 5 yuan.

2. For Shenzhen Stock Exchange, the commission for A shares is 0.3‰ of the transaction amount, starting from 5 yuan; The bond commission is 1‰ (upper limit) of the transaction amount, starting from 5 yuan; The commission of the fund is 3‰ of the transaction amount, starting from 5 yuan; The commission of the securities investment fund is 3‰ of the transaction amount, starting from 5 yuan.

As the evidence of creditor's rights and debts, bonds, like other securities, are also a kind of virtual capital, not real capital. It is a certificate of real capital actually used in economic operation.