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class="third-menu-tab"><a tie="12197,12200,12201" colid="12201" class="third-title" href="/markets/equities/overview/" target="_self">Overview</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12200,12201,12268" colid="12268" class="fourth-title" href="/markets/equities/overview/info/" target="_self">info</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12200,12201,12356" colid="12356" class="fourth-title" href="/markets/equities/overview/performance/" target="_self">performance</a></li> </ul></li> <li class="third-menu-tab"><a tie="12197,12200,12203" colid="12203" class="third-title" href="/markets/equities/data/" target="_self">Securities Prices</a></li> <li class="third-menu-tab"><a tie="12197,12200,12204" colid="12204" class="third-title" href="/markets/equities/highlights/bluechipmarket/" target="_self">Highlights</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12200,12204,12269" colid="12269" class="fourth-title" href="/markets/equities/highlights/bluechipmarket/" target="_self">Bluechipmarket</a> <ul class="fifth-menu fifth-menu-area" style="display: none;"> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12200,12204,12269,12271" colid="12271" class="fifth-title" href="/markets/equities/highlights/bluechipmarket/market/" target="_self">market</a></li> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12200,12204,12269,12353" colid="12353" class="fifth-title" href="/markets/equities/highlights/bluechipmarket/active/" target="_self">active</a></li> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12200,12204,12269,12354" colid="12354" class="fifth-title" href="/markets/equities/highlights/bluechipmarket/bluechip/" target="_self">bluechip</a></li> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12200,12204,12269,12355" colid="12355" class="fifth-title" href="/markets/equities/highlights/bluechipmarket/highbluechip/" target="_self">highbluechip</a></li> </ul></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12200,12204,12270" colid="12270" class="fourth-title" href="/markets/equities/highlights/neweconomy/" target="_self">Neweconomy</a> <ul class="fifth-menu fifth-menu-area" style="display: none;"> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12200,12204,12270,12272" colid="12272" class="fifth-title" href="/markets/equities/highlights/neweconomy/market/" target="_self">market</a></li> </ul></li> </ul></li> <li class="third-menu-tab"><a tie="12197,12200,12202" colid="12202" class="third-title" href="/markets/equities/announcements/" target="_self">Listed Company Announcements</a></li> <li style="display:none" class="third-menu-tab"><a tie="12197,12200,12273" colid="12273" class="third-title" href="/markets/equities/data/" target="_self">List</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12200,12273,12274" colid="12274" class="fourth-title" href="/markets/equities/list/overview/" target="_self">Overview</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12200,12273,12275" colid="12275" class="fourth-title" href="/markets/equities/list/quotation/" target="_self">Quotation</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12200,12273,12276" colid="12276" class="fourth-title" href="/markets/equities/list/announcements/" target="_self">Announcements</a></li> </ul></li> </ul></li> <li class="second-menu-tab" ishover="true"><a tie="12197,12205" colid="12205" class="second-title" href="/markets/bonds/overview/" target="_self">Bonds<i class="fe fe-chevron-right"></i></a> <ul class="third-menu third-menu-area" style="display: none;"> <li class="third-menu-tab"><a tie="12197,12205,12277" colid="12277" class="third-title" href="/markets/bonds/overview/" target="_self">Overview</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12205,12277,12278" colid="12278" class="fourth-title" href="/markets/bonds/overview/Introduction/" target="_self">Introduction</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12205,12277,12378" colid="12378" class="fourth-title" href="/markets/bonds/overview/timeline/" target="_self">timeline</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12205,12277,12379" colid="12379" class="fourth-title" href="/markets/bonds/overview/investors/" target="_self">investors</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12205,12277,12380" colid="12380" class="fourth-title" href="/markets/bonds/overview/process/" target="_self">process</a></li> </ul></li> <li class="third-menu-tab"><a tie="12197,12205,12279" colid="12279" class="third-title" href="/markets/bonds/bondslist/" target="_self">Bond List</a></li> <li class="third-menu-tab"><a tie="12197,12205,12280" colid="12280" class="third-title" href="/markets/bonds/bondbuybacklist/" target="_self">Bond Repo List</a></li> </ul></li> <li class="second-menu-tab" ishover="true"><a tie="12197,12206" colid="12206" class="second-title" href="/markets/funds/overview/" target="_self">Funds<i class="fe fe-chevron-right"></i></a> <ul class="third-menu third-menu-area" style="display: none;"> <li class="third-menu-tab"><a tie="12197,12206,12281" colid="12281" class="third-title" href="/markets/funds/overview/" target="_self">Overview</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12206,12281,12283" colid="12283" class="fourth-title" href="/markets/funds/overview/introduction/" target="_self">introduction</a></li> </ul></li> <li class="third-menu-tab"><a tie="12197,12206,12282" colid="12282" class="third-title" href="/markets/funds/fundlist/" target="_self">Fund List</a></li> <li class="third-menu-tab"><a tie="12197,12206,13272" colid="13272" class="third-title" href="/markets/funds/reits/intro/" target="_self">Publicly Offered Infrastructure REITs</a></li> </ul></li> <li class="second-menu-tab" ishover="true"><a tie="12197,12207" colid="12207" class="second-title" href="/markets/derivatives/overview/50etf/" target="_self">Derivatives<i class="fe fe-chevron-right"></i></a> <ul class="third-menu third-menu-area" style="display: none;"> <li class="third-menu-tab"><a tie="12197,12207,12284" colid="12284" class="third-title" href="/markets/derivatives/overview/50etf/" target="_self">Overview</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12207,12284,14799" colid="14799" class="fourth-title" href="/markets/derivatives/overview/50etf/" target="_self">SSE 50ETF Options</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12207,12284,14800" colid="14800" class="fourth-title" href="/markets/derivatives/overview/300etf/" target="_self">CSI 300ETF Options</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12207,12284,14801" colid="14801" class="fourth-title" href="/markets/derivatives/overview/500etf/" target="_self">CSI 500ETF Options</a></li> </ul></li> <li class="third-menu-tab"><a tie="12197,12207,12287" colid="12287" class="third-title" href="/markets/derivatives/statistic/day/" target="_self">Statistics</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12207,12287,12288" colid="12288" class="fourth-title" href="/markets/derivatives/statistic/day/" target="_self">Day</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12207,12287,12289" colid="12289" class="fourth-title" href="/markets/derivatives/statistic/month/" target="_self">Month</a></li> </ul></li> <li class="third-menu-tab"><a tie="12197,12207,12290" colid="12290" class="third-title" href="/markets/derivatives/quotation/" target="_self">Quotation</a></li> </ul></li> <li class="second-menu-tab"><a tie="12197,12208" colid="12208" class="second-title" href="/markets/greensecurities/" target="_self">Green Securities</a> <ul class="third-menu third-menu-area" style="display: none;"> <li style="display:none" class="third-menu-tab"><a tie="12197,12208,12291" colid="12291" class="third-title" href="/markets/greensecurities/info/" target="_self">info</a></li> </ul></li> <li class="second-menu-tab" ishover="true"><a tie="12197,12209" colid="12209" class="second-title" href="/markets/dataservice/products/" target="_self">Data Services<i class="fe fe-chevron-right"></i></a> <ul class="third-menu third-menu-area" style="display: none;"> <li class="third-menu-tab"><a tie="12197,12209,12210" colid="12210" class="third-title" href="/markets/dataservice/products/" target="_self">Market Data Products</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12209,12210,12292" colid="12292" class="fourth-title" href="/markets/dataservice/products/products/" target="_self">products</a> <ul class="fifth-menu fifth-menu-area" style="display: none;"> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12209,12210,12292,12293" colid="12293" class="fifth-title" href="/markets/dataservice/products/products/infomation/" target="_self">infomation</a></li> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12209,12210,12292,12294" colid="12294" class="fifth-title" href="/markets/dataservice/products/products/significance/" target="_self">significance</a></li> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12209,12210,12292,12295" colid="12295" class="fifth-title" href="/markets/dataservice/products/products/transmission/" target="_self">transmission</a></li> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12209,12210,12292,12296" colid="12296" class="fifth-title" href="/markets/dataservice/products/products/dissemination/" target="_self">dissemination</a></li> </ul></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12209,12210,12297" colid="12297" class="fourth-title" href="/markets/dataservice/products/data/" target="_self">data</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12209,12210,12298" colid="12298" class="fourth-title" href="/markets/dataservice/products/contact/" target="_self">contact</a></li> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12209,12210,12299" colid="12299" class="fourth-title" href="/markets/dataservice/products/contactabroad/" target="_self">contactabroad</a></li> </ul></li> <li class="third-menu-tab"><a tie="12197,12209,12211" colid="12211" class="third-title" href="/markets/dataservice/list/" target="_self">Overseas Client List</a></li> <li class="third-menu-tab"><a tie="12197,12209,12868" colid="12868" class="third-title" href="/markets/dataservice/xbrl/" target="_self">XBRL</a> <ul class="fourth-menu fourth-menu-area" style="display: none;"> <li style="display:none" class="fourth-menu-tab"><a tie="12197,12209,12868,12869" colid="12869" class="fourth-title" href="/markets/dataservice/xbrl/" target="_self">Companyinfo</a> <ul class="fifth-menu fifth-menu-area" style="display: none;"> <li style="display:none" class="fifth-menu-tab"><a tie="12197,12209,12868,12869,12870" colid="12870" class="fifth-title" href="/markets/dataservice/xbrl/companyinfo/note/" target="_self">note</a></li> </ul></li> </ul></li> </ul></li> </ul></li> <li class="nav-item"><a tie="12212" colid="12212" class="nav-tab" href="javascript:void(0);" target="_self">Getting Started</a> <ul class="second-menu second-menu-area" style="display: none;"> <li 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class="dot"> </i></h1> <p>Lauched the new trading system</p> </div> <div class="item"> <h1> 2021<i class="dot"> </i></h1> <p>Lauched Real Estate Investment Trusts</p> </div> <div class="item"> <h1> 2019<i class="dot"> </i></h1> <p>Launched Credit Protection Instrument</p> </div> <div class="item"> <h1> 2018<i class="dot"> </i></h1> <p>Launched Geen Bond Channel</p> </div> <div class="item"> <h1> 2017<i class="dot"> </i></h1> <p>Launched first Belt and Road Panda Bond</p> </div> <div class="item"> <h1> 2016<i class="dot"> </i></h1> <p>First issuance of local government bond</p> </div> <div class="item"> <h1> 2016<i class="dot"> </i></h1> <p>Green Bond Trial</p> </div> <div class="item"> <h1> 2015<i class="dot"> </i></h1> <p>New corporate bond Regime</p> </div> <div class="item"> <h1> 2014<i class="dot"> </i></h1> <p>ABS under new regulation</p> </div> <div class="item"> <h1> 2012<i class="dot"> </i></h1> <p>Launched first private placement bond</p> </div> <div class="item"> <h1> 2007<i class="dot"> </i></h1> <p>Launched first corporate bond issued by listed co.</p> </div> <div class="item"> <h1> 2007<i class="dot"> </i></h1> <p>Launched Fixed Income Trading Platform</p> </div> <div class="item"> <h1> 2005<i class="dot"> </i></h1> <p>Launched first ABS</p> </div> <div class="item"> <h1> 1997<i class="dot"> </i></h1> <p>Launched first convertible bond</p> </div> <div class="item"> <h1> 1993<i class="dot"> </i></h1> <p>Launched collateral repo</p> </div> <div class="item"> <h1> 1990<i class="dot"> </i></h1> <p>The foundation of SSE and early bond market</p> </div> <div class="item"> <h1> 1981<i class="dot"> </i></h1> <p>First issuance of Gov’t bond of PRC</p> </div> </div> </div> </div> </div> <div class="lev2_marginblock "> <div class="title_2"><h2>Diversified Investors <em></em></h2></div> <div class="lev2_paddingblock"> <p>Funds, securities firms, corporations and insurance are the major investors.</p> <p>QFII scheme was introduced in 2002. It allows global institutional investors to directly invest in the RMB denominated capital market on a selective basis.</p> </div> </div> <div class="lev2_marginblock "> <div class="title_2"><h2>A swift and cost effective debt issuance process <em></em></h2></div> <div class="lev2_paddingblock"> <p>The exchange bond market features three types of corporate bond issuances:</p> <p>(i) public offering to general (public) investors, including individuals;</p> <p>(ii) public offering to Qualified Investors only;</p> <p>(iii) non-public placement (limited to Qualified Investors with a maximum of 200 bondholders).</p> </div> </div> <div class="lev2_marginblock "> <div class="title_2"><h2>Types of Bonds <em></em></h2></div> <div class="lev2_paddingblock"> <p></p><p>In the exchange bond market, the main types of bonds include Treasury bonds, Local government bonds,Financial bonds , enterprise bonds, corporate bonds, Convertible corporate bond, An asset-backed security (ABS) and a bond repurchase.</p> <p><strong>Treasury bonds,</strong>a kind of government bonds issued for raising financial funds, are the certificates for claims and debts issued to investors by the central government. In the exchange market, there are mainly two kinds of treasury bonds: coupon-bearing treasury bonds and discount treasury bonds.</p><p></p> <div class="intro_block"> <button class="js_collapse_more btn btn-primary collapsed" isopen="false" type="button" data-toggle="collapse" data-target="#collapseExample" aria-expanded="false" aria-controls="collapseExample"> Read more... </button> <div class="collapse" id="collapseExample"> <p><strong>Local government bonds</strong> can be divided into local government general bonds (hereinafter referred to as general bonds) and local government special bonds (hereinafter referred to as special bonds) based on the source of the funds. General bonds are bonds issued for non-profit public welfare projects, with the provinces, autonomous regions, municipalities directly under the central government and cities under separate state planning as the issuers and repayers. The interest and principal of general bonds will be paid by general public budget during a certain period. Special bonds are bonds issued for public welfare projects with certain income, with the provinces, autonomous regions, municipalities directly under the central government and cities under separate state planning as the issuers and repayers. The interest and principal of special bonds will be paid by government funds or special income of these public welfare projects during a certain period.</p> <p><strong>Financial bonds</strong> in the exchange market include policy financial bonds and subordinated debts of insurance companies. Policy financial bonds refer to financial bonds issued by China’s policy banks (National Development Bank, China Agricultural Development Bank and China Exim Bank) to banks and other institutions for the purpose of raising credit funds with the approval of the State Council. The subordinated debts of insurance companies refer to the insurance companies’ approved collection. The settlement of principal and interest of the subordinated debts is after the insurance company’s policy liability and other liabilities but before the insurance company’s equity capital.</p> <p><strong>Enterprise bonds</strong> are securities issued by enterprises as per legal procedures of Regulations on the Administration of Enterprise Bonds and agreeing to pay off the principal and interest in a specified time. The National Development and Reform Commission, as the authority in charge of enterprise bonds, is responsible for the enterprise bonds’ issuing approvals.</p> <p><strong>Corporate bonds</strong> refer to securities which are issued by a company in accordance with legal procedures and agreed to repay the principal and interest within a certain period.</p> <p><strong>Convertible corporate bonds</strong> are a kind of corporate bonds which can be converted into a predetermined amount of the underlying company’s equity at certain times. Convertible bonds can be seen as a combination of “bonds + stock options”.</p> <p><strong>An asset-backed security (ABS)</strong> refers to a financing instrument that is used by enterprises or other financing entities to sell their assets or portfolio of assets (basic assets) that are legally vested, lacking liquidity but with predictable steady cash flow to a Special Purpose Vehicle (SPV).</p> <p><strong>A bond repurchase</strong> refers to a situation that a bondholder pledges its bonds for financing; and the parties agree to return the principal, pay back the repurchase interests, and release the bonds pledged after the repurchase period expires. The party selling the bonds for financing is the repurchase party, and its counterparty is the reverse repurchase party.</p> </div> </div> </div> </div> </div> </div> </div> </div> <div class="bg_gray"> <div class="container "> <div class="lev1_marginblock "> <div class="title_1 "> <h1>Statistics </h1> </div> <div class="lev1_paddingblock_noborder "> <div class="table-responsive table_normal_topic1 border td_left"> <table class="table js_bond_overview"></table> </div>  <div class="ta-c" style="display:none;"> <div class="pagination hidden-mobile"> </div>  <div class="hidden-pc mobile-page"> <button type="button" class="btn btn-default navbar-btn">上一页</button> <button type="button" class="btn btn-default navbar-btn next-page">下一页</button> </div>  </div> <em class="clearfix"><i class="date ">Last Update:2019-09-06</i> </em> </div> </div> </div> </div> </div> <div class="js_require_on_page" js_files="/xhtml/js/search/search_bonds.js"></div> </main>  <footer> <div class="container"> <div class="link_block"> <img src="/xhtml/images/ft_logo.png" style="float: left;"> <a href="/home/trademark/">TRADEMARK</a> <a href="/home/feedback/">FEEDBACK</a> <a href="/home/disclaimer/">DISCLAIMER</a> <a href="/markets/dataservice/list/">OVERSEAS VENDORS</a> </div> <p>Support <img src="/xhtml/images/IPV6.png" style="margin-bottom:2px;"> ©2019 SHANGHAI STOCK EXCHANGE. 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