bonds are generally divided into general bonds and special bonds according to the use of funds by local governments and the sources of repayment of funds. The former is often used by the government for the development of non-profitable public welfare undertakings, while the latter is generally used for profitable public welfare undertakings.

what are special bonds

special bonds are generally government bonds issued by local governments for public welfare projects with certain income, and it is agreed to repay the principal and interest with government funds or special income corresponding to public welfare projects within a certain period of time. These bonds are often special bonds for land reserve, toll roads, shantytown renovation and other types of self-seeking balance between income and financing. For investment, the amount of these debts will affect the real estate market and infrastructure, so this is also something we should pay attention to.

special bonds are mainly invested in projects with certain income, and the repayment is guaranteed by corresponding government funds or corresponding project income. Local special bonds can be divided into new and replacement according to their uses, and only the former can provide incremental funds for infrastructure investment.