Bonds are creditor's rights and debt certificates issued to investors when the government, financial institutions and industrial and commercial enterprises directly borrow money from the society to raise funds, and promise to pay interest at a certain interest rate and repay the principal according to the agreed conditions. The essence of bonds is the proof of debts. There is a creditor-debtor relationship between bond buyers and issuers. The issuer is the debtor and the investor (bondholder) is the creditor.

Bond funds, also known as bond funds, refer to funds that specialize in investing in bonds. By concentrating the funds of many investors, we can make portfolio investment in bonds and seek relatively stable returns. According to the classification standard of China Securities Regulatory Commission, bond funds refer to funds with more than 80% of fund assets invested in bonds. Bond funds can also put a small amount of money into the stock market. In addition, investing in convertible bonds and issuing new shares are also important channels for bond funds to obtain income.