The theoretical basis for the establishment of debt relief fund is the calculation method of compound interest accumulation, which was founded by British scholar R. Price. He believes that if 1% of the existing debt is used as a fund, then the fund will increase in value according to compound interest. According to this method, there are two sources of funds for the government to buy and sell bonds (the government uses surplus funds to buy bonds from the securities market at the current price, thus making the debt disappear): ① fixed funds provided by the government every year; (2) Accumulation of interest on bonds. This debt reduction fund method was popular at the end of 18, but it did not achieve the expected purpose in the actual implementation process. The form of modern debt reduction fund is different from the past. The common method is to use the financial allocation as a debt reduction fund and directly use it to buy, sell or repay the national debt.

The debt relief fund system is widely used in western countries, but the debt relief fund in some countries is only an institutional existence and has not played a role in reality. For example, in order to adjust the national debt accumulated in the First World War in a planned way, the United States established the annual expenditure authority of debt repayment through the war loan law of 19 19, and later confirmed it by law. With the second world war, the balance of national debt increased greatly, and the government changed the debt reduction fund into a policy of borrowing new and returning old, and the debt reduction fund was ineffective. In some countries, there are only a few special debt relief funds, but these special debt relief funds are not important; Some countries have special debt repayment funds or vaults, that is, part of the excess fiscal revenue is used to reduce the collection of credit funds or repay debts. Debt relief funds are relatively perfect in Japan. In addition to debt reduction funds for corporate bonds, the Special Accounting Law for Debt Reduction Funds for National Debt also stipulates the establishment of debt reduction funds. The current debt reduction fund system formed by 1967 stipulates the payment of financial resources and the transfer of repayment funds.