：
Discount is a commercial term, which refers to the unexpired commercial acceptance bill or bank acceptance bill issued by the payer, accepted by the acceptor and then transferred to the transferee (holder). The transferee (holder) applies to a financial institution such as a bank to realize the bill, and the bank and other financial institutions deduct the interest from the discount date to the maturity date of the bill according to the par value, and pay the balance to the holder (payee). When a commercial bill expires, the ultimate holder will collect money from the acceptor according to the bill. Generally speaking, bill discount can be divided into three types, namely, discount, discount and rediscount.
Discount: refers to the bill behavior that the holder of a commercial bill transfers the rights of the bill to the bank in order to obtain funds before the bill expires. It is a way for the holder to get financing from the bank. Discounted cash: refers to the fact that commercial banks give discounted bills that have not yet expired to other commercial banks or discount institutions for discount in order to obtain financing when funds are temporarily insufficient. Rediscussion: refers to the behavior of the central bank to provide financing support to commercial banks by purchasing discounted but not yet expired commercial bills held by commercial banks. The nature of discount: discount is an asset business of banks. The drawee of a bill owes a debt to the bank, and the bank actually has an indirect lending relationship with the drawee. Discount rate: floating on the basis of the current rediscount rate of the People's Bank of China. The discount rate is the market price, which is determined by both parties through consultation, but the maximum discount rate cannot exceed the current loan interest rate. Calculation of discount interest: discount interest is the interest paid by the payee of the bill to the discount bank in order to obtain the fare before the bill expires. The calculation method is: discount interest = discount amount × discount rate × discount period. China's bill market organically links enterprises, commercial banks and central banks through the issuance and acceptance, discount, rediscount and rediscount of bills, thus effectively conducting monetary policy.