The primary and secondary debt bases refer to bond funds classified according to bond types and risk levels. The primary debt base mainly invests in bonds such as low-risk national debt and policy financial debt, with relatively low risk and lower yield than the secondary debt base. The secondary debt base mainly invests in bonds with low credit rating, such as corporate bonds and convertible bonds, which fluctuate greatly and have relatively high risks, but also have relatively high returns.

Both primary and secondary debt bases are in the form of pooled trust funds. In the process of fund operation, the fund manager will focus on managing the funds invested in the bond market and maximize capital growth and income by optimizing the investment portfolio. Investors can buy through fund companies or stock exchanges, or through internet fund sales platforms and mobile phone applications. Investors can choose primary and secondary debt bases according to their risk tolerance and investment needs.

The income of primary and secondary debt bases is mainly composed of rising bond prices and interest income. Because of the different risk and income levels of bonds, the income of primary and secondary debt bases is also different. With the change of economic situation and interest rate, bond prices will fluctuate, so the net value of primary and secondary debt bases will also rise and fall. Generally speaking, the risk and return of the primary debt base are low, which is suitable for risk-averse investors; The risk and return of secondary debt base are relatively high, which is suitable for investors with strong risk-taking ability. Investors should choose their own primary and secondary debt bases according to their own conditions.