20021The first batch of savings bonds issued 654.38+08 billion yuan in the first phase, with a term of 3 years and an annual coupon rate of 3.8%; The second phase is 654.38+0.2 billion yuan, with a term of 5 years, accounting for 3.97% of coupon rate. The two issues of savings bonds are all voucher-type government bonds. According to the regulations, voucher-type savings bonds can only be purchased at the bank counter, and it can report the loss, but it can't be renamed, and it can't be circulated and transferred. The purchase target can only be individuals, and no organization or institution can subscribe.
National debt, also known as national debt, is a creditor-debtor relationship formed by the state issuing bonds to raise funds to the society based on its credit and in accordance with the general principles of bonds. National debt is a kind of government bond issued by the central government to raise financial funds. It is a creditor's rights and debt certificate issued by the central government to investors, promising to pay interest and repay the principal within a certain period of time. Because the issuer of national debt is the country, it has the highest credit and is recognized as the safest investment tool. National debt is a special form of debt, which has the following characteristics compared with the general creditor-debtor relationship:
From the subject of legal relationship, the creditors of national debt can be citizens, legal persons or other organizations at home and abroad, the government of a country or region and international financial organizations, while the debtors can only be countries.
Judging from the nature of legal relationship, the occurrence, change and elimination of the legal relationship of national debt mostly reflect the unilateral will of the state. Although the legal relationship of national debt is equal to other financial legal relationships, it shows a certain degree of subordination compared with the general creditor-debtor relationship, which is more obvious in the legal relationship of domestic debt.
Judging from the realization of legal relationship, national debt is the creditor-debtor relationship with the highest credit rating and the best security.
From the debtor's point of view, national debt has the characteristics of voluntariness, compensation and flexibility.
From the creditor's point of view, national debt has the characteristics of security, profitability and liquidity.
According to different standards, national debt can be divided into the following categories:
According to the different ways of borrowing debts, national debt can be divided into national bonds and national loans.
National debt: it is the legal relationship of national debt formed by issuing bonds. National debt is the main form of domestic debt. The national debt issued by China mainly includes national debt, national economic construction bonds and national key construction bonds.
State loan: The borrower and the lender sign an agreement or contract through consultation according to certain procedures and forms to form a legal relationship of national debt. National borrowing is the main form of national foreign debt, including loans from foreign governments, loans from international financial organizations and loans from international commercial organizations.
According to the different repayment periods, national debt can be divided into fixed-term national debt and irregular national debt.
Term treasury bonds: refers to the treasury bonds issued by the state with strict repayment terms. According to the repayment period, fixed-term treasury bonds can be divided into short-term treasury bonds, medium-term treasury bonds and long-term treasury bonds.
Short-term national debt: usually refers to the national debt issued within 1 year, which is mainly used to adjust the temporary surplus and deficiency of the treasury capital turnover and has great liquidity.