According to the definition of the issuer, it covers most corporate bonds and a small number of non-financial corporate debt financing instruments. Generally speaking, compared with industrial bonds, we mainly talk about issuing them for investment purposes such as urban infrastructure. Understand the reason

The main issuer of urban investment bonds is generally local investment and financing platforms, and the issuance method is generally public corporate bonds or medium-term notes, so urban investment bonds can also be called "quasi-municipal bonds"

Advantages of urban investment bonds

City investment bonds are standardized bonds issued in Shanghai Stock Exchange, Shenzhen Stock Exchange and interbank market, which is also the standardized bond products mentioned in the last issue. Under the supervision of "non-standard bidding", it is favored by major financial institutions.

At present, almost all types of bond investment institutions accept urban investment bonds, including self-operated banks, bank wealth management, insurance, self-operated brokers, brokerage asset management, Public Offering of Fund, private equity funds, futures asset management, trust, foreign capital and so on.

Is the city investment bond safe?

The projects that urban investment bonds are used for investment are generally municipal public facilities @ Linlin projects, with relatively concentrated funds and long payback period.

The project design, approval, issuance and circulation of urban investment bonds are similar to those of corporate bonds, that is, local governments borrow from enterprises to achieve the purpose of financing municipal construction.

Urban investment bonds are generally given a lot of resources by local governments in the issuance plan, and usually provide some special policies for issuers, such as providing invisible guarantees, preferential development licenses, preferential tax licenses and so on. When there is a problem in the redemption process, local governments often endorse it and repay it on their behalf.

Risk of urban investment bonds?

While local governments get a lot of loans, the debt problem has also begun to accelerate. In some places, the debt ratio far exceeds the early warning range of risk control. On the other hand, the flow of financial resources may not be reasonable enough, resulting in abnormal allocation, and a large amount of credit poured into infrastructure projects and some surplus industries. Many local financing projects are infrastructure, and their profits often depend on the future increase in land prices. This way of borrowing and financing with the future land resource income as a premium often contains great risks. Once the land price is not "speculated" as expected, local zf will face huge financing bad debts. After all, the current national policy orientation is not to speculate in real estate and stabilize housing prices.

However, the specific analysis of specific problems cannot be generalized, and there are still many high-quality urban investment bonds in the market.

Income? How to buy?

Understand the reason

Most individual customers can't buy urban investment bonds directly, and most of them are purchased by institutions, such as banks. Individuals can make indirect purchases through trusts, asset management and fund companies. The annual interest rate is around 6%-8%, and different issuers have different interest rates.

At present, there are many products of urban investment bonds on the market, which are mainly issued by trust, asset management and fund companies. Individuals can choose different institutions to subscribe according to the capital situation and expected income. Urban investment bonds belong to the category of political trust and are financing products endorsed by government credit. Relatively speaking, the security is not bad. But we must screen the products of high-quality institutions, and the products selected by high-quality institutions are relatively better. At the same time, having a good financial planner is more stable.