1. What is a bond? The bonds we want to talk about, that is, corporate bonds or short-term bonds, are debt certificates issued by enterprises to raise funds. Divided into corporate bonds and corporate bonds according to the issuer. China's bonds first appeared before 2005, when China's securities market was still in its infancy, and then with the gradual development of China's economy, the scale of the bond market continued to expand. If there is not enough economic strength to invest, ordinary investors will choose bonds to invest.
Second, the types of bond defaults in China first look at the types of bond defaults in China. There are three main types of bond default in China: one is bond default caused by credit risk events; Second, there is a problem with the credit status of the subject, which leads to the inability to repay the debt on time; Third, after the issuer defaults, it cannot repay the bonds on schedule. Generally speaking, there are many reasons for China's bond default. Among them, the main reason is that the change of China's macroeconomic policy leads to the slowdown of economic development and the excessive debt repayment pressure.
III. Common risk factors in China bond market First of all, we must make it clear that the most important risk factor in the bond market is credit risk. The credit risk of the bond market is mainly divided into three aspects: first, the issuer's credit risk is caused by business reasons; Second, the credit risk caused by the issuer's performance and the credit guarantee provided by listed companies; The third is the credit risk of funds generated by the issuer in order to raise funds. With the continuous development of the market, China's financial system has been relatively perfect, especially the bond market occupies a large proportion in China's financial system. Therefore, when judging the credit rating of domestic enterprises, we need to know what the credit risk is in the market, and only in this way can we better finance domestic enterprises. For those enterprises with relatively low credit rating, it is difficult to refinance after credit default.
Fourth, for investors, how to choose fund products? Many people only pay attention to net worth and ignore other aspects when investing, but this is not correct. The net value only reflects the income level of the fund, but does not mean that the fund is perfect. When choosing fund products, we should choose bond funds with high probability of non-default. For ordinary people, the purchase is more about the net value of the fund than the product itself. If you only have a month or two or even a year left to buy bonds, you should also consider redemption.