When the transaction price of closed-end funds in the secondary market is lower than the actual net value, this situation is called "discount". Discount rate = (unit net share-unit market price)/unit net share. According to this formula, when the discount rate is greater than 0 (that is, the net value is greater than the market price), it is a discount, and when the discount rate is less than 0 (that is, the net value is less than the market price), it is a premium. In addition to investment objectives and management level, discount rate is an important factor in evaluating closed-end funds. Foreign methods to solve the large discount of closed-end funds include: closing to opening, fund liquidation in advance, fund tender offer, fund share repurchase, fund management and distribution, etc.

Discount rate refers to the interest rate used to turn future payments into present value, or refers to the interest rate used by banks to deduct interest from bills that have not yet expired. This discount rate also refers to the rediscount rate, that is, each member bank guarantees discounted bills as the interest paid when borrowing from the central bank.