2. Where there is the concept of "nonstandard", there is the concept of "standard". What standardized financial products, whether bonds or stocks, are investment and financing processes under the protection of relatively clear, standardized and fair mechanisms.
3. Non-standard financial management has certain advantages over standardized financial management: non-standard financial management has the advantages of both loans and bonds, and its biggest feature is that it can be circulated in different places, with flexible forms and high yield. The most important thing is that there is almost no supervision. However, non-standard financial management is not necessarily illegal, but the legislation in the field of non-standard financial management is not perfect enough.
4.20 1910.2, 19 The People's Bank of China issued the Standard Rules for the Determination of Creditor's Rights and Assets, which further refined the criteria for dividing "standard" and "non-standard" in the Guiding Opinions on Regulating Asset Management of Financial Institutions:
5. The standardized debt assets mentioned in the Rules refer to fixed-income securities such as bonds and asset-backed securities issued according to law, mainly including government bonds, central bank bills, local government bonds, government-supported institutional bonds, financial bonds, non-financial corporate debt financing instruments, corporate bonds, corporate bonds, international institutional bonds, interbank deposit certificates, credit asset-backed securities, asset-backed bills, asset-backed securities listed on stock exchanges, fixed-income public securities investment funds, etc.