industrial bonds belong to national debt.

China Merchants Industrial Bond Securities Investment Fund is a bond-type fund financing product issued by China Merchants Fund.

Expansion:

nationaldebt (national debt; Governmentloan), also known as national bonds, is a creditor-debtor relationship formed by the state on the basis of its credit and in accordance with the general principles of debt. National debt is a bond issued by the state, a kind of government bond issued by the central government to raise financial funds, and a creditor's right and debt certificate issued by the central government to investors, which promises to pay interest and repay the principal at maturity in a certain period. Because the issuer of national debt is the state, it has the highest credit and is recognized as the safest investment tool. China's national debt refers to the national debt issued by the Ministry of Finance on behalf of the central government. It is guaranteed by the state's financial reputation, and its credibility is very high. It has always been called "Phnom Penh Bond", and prudent investors like to invest in national debt. There are three types of bonds: voucher bonds, bearer bonds and book-entry bonds. On June 15, 22, the Ministry of Finance issued a notice to clarify that the special anti-epidemic national debt will be issued in 22. In September, FTSE Russell announced that China government bonds will be included in the FTSE World government bond index (WGBI). In December, 221, China's national debt was formally incorporated into the FTSE government bond index.