Bond is a kind of valuable securities, which is a bond debt certificate issued by various economic entities to bond investors to raise funds, and promises to pay interest regularly and repay the principal at a certain interest rate. Because the interest of bonds is usually predetermined, bonds are also called fixed-interest securities. Bonds usually include the following basic elements: face value, price and repayment period. ?

Weighted bonds are those with some option clauses, that is, these bonds can have the right to take corresponding actions when some situations occur. For investors, the most common bond embedded options are the redemption clause and the resale clause of bonds. Of course, apart from callable bonds and resale bonds, there are other types of weighted bonds, such as convertible bonds or contingent convertible bonds and warrants.

There are three main types of bonds in China market, and foreign bonds issued by companies and governments on some platforms may be seen abroad. 1. Corporate (enterprise) bonds: Corporate or enterprise bonds are issued by companies. In many cases, companies issue bonds instead of bank loans to seek debt financing, because the bond market provides more favorable terms and lower interest rates. 2. Financial bonds: Financial bonds are bonds issued by banks and non-bank financial enterprises. In China, financial bonds are mainly sold by policy banks such as Development Bank and Export-Import Bank. Financial enterprises generally have deep assets and high credit, so financial bonds usually have a good reputation. 3. Government bonds: government bonds, such as those issued by the US Treasury. Bonds issued by the Ministry of Finance with a term of one to ten years are called? The bill? ; Bonds with a maturity of more than 10 years are called? Bonds? . The whole bond category issued by the government and the Ministry of Finance is usually collectively referred to as? National debt? . Government bonds issued by national governments can be called sovereign debts.

At present, the OTC bond market only provides bond varieties of voucher-type treasury bonds, which are illiquid and only sold to individual investors, which can better play the saving function. Investors can only hold the maturity and get the coupon interest income; However, some banks will provide investors with voucher-type treasury bond pledge loans, which provides a certain degree of liquidity. Investors who purchase voucher-type government bonds can open an account at the bank counter with valid identity documents. Only the personal treasury bond escrow account is opened in savings bonds, and the account opening fee and maintenance fee are exempted, and the interest tax is exempted from the proceeds of treasury bonds.