National or local borrowing debt. The absorption of the state credit as a form of capital. Points "domestic debt" and "debt." Domestic debt is a debt to the domestic borrowing, sub-"long-term debt" and "short-term bonds." External debt is a debt to foreign borrowing, the basic form of foreign loans.
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No. 4
Bond is the country in order to raise funds issued to investors, promises to pay interest and principal on the maturity of debt certificates certain period. Broad public sector debt is the debt, narrowly refers to government debt bonds.
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No. 5
Bond is the country in order to raise funds issued to investors, promises to pay interest and principal on the maturity of debt certificates certain period. Broad public sector debt is the debt, narrowly refers to government debt bonds. In our real life, mostly referring to the narrow bonds, that government borrowing debt. Generally the bonds issued by the central government called the central government bonds or government bonds, referred to as government bonds, and the bonds issued by local governments called local government bonds, referred to as local debt. Characteristics of bonds Bonds as the bond system of a species, compared with other bonds, shows the characteristics of the four aspects. A safe. In all types of bonds, bond credit rating is generally considered to be the highest. 2, liquidity is strong. Well-developed secondary market bonds, transfer very convenient. 3, stable income. Interest-bearing bonds guaranteed by the government, for investors, investment income bonds are relatively stable. 4, duty-free treatment. Most countries require the proceeds to buy government bonds gained, you can enjoy tax exemptions on taxes.
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Wikipedia Encyclopedia
gongzhai Bonds public debt The central government and local government borrowing in the debt. A country known as the National Debt bonds or government bonds. State credit. Evolution of government borrowing debt, long time. China Eastern Zhou final, Zhou Nan Wang had run up debts Taiwan businessmen to escape their claims. In medieval Europe, things are not uncommon royal borrowing. But then borrowing, just monarch private credit, and modern bond is different. Modern public debt, the credit system is well-developed product, the country is credit-based. With the development of the capitalist economy, a lot of idle funds in the community through the credit system and financial market intermediation swap, only this time to raise the possibility of a large number of bonds; Meanwhile, the rapid expansion of the government's public expenditure, those in power in order to avoid excessive taxpayers more than tax increases caused dissatisfaction, approaches that are often taken to inject debt, there has been the need to raise a lot of bonds, thereby evolving national credit. Bonds in accordance with the borrower objects of different categories can be divided into domestic and external debt; according to the length of the repayment period can be divided into long-term bonds and short-term bonds; according to whether the bonuses can be divided into interest and interest-bearing bonds, interest-free bonds and prize bonds. In addition, according to whether the guarantee can be divided into secured debt (collateral gold, foreign exchange, mining, railways, telecommunications and tariffs, salt tax, etc.) and unsecured bonds. Domestic debt, also known as the domestic public debt, national debt in the domestic borrowing. In general, the State issued with a fixed par value of public bonds to raise approach, a state and citizens of borrowing relationships. Raise domestic debt does not increase national income, return of domestic debt does not reduce the country's national income. However, the transfer of income and repayment of debt by borrowing occurred, so that some people increase revenue while others increase the burden. Capitalist countries domestic public debt, became one of the levers of capital accumulation. When the bourgeois government to increase spending and raise taxes in the choice between debt, always take the debt approach. But the bonds ultimately rely on taxes to pay debt service, the tax system has become a necessary complement to the modern Treasury system. Foreign debt borrowing in foreign debt. From the historical point of view of economic development around the world, often due to limited domestic hot money, insufficient domestic debt needs, while foreign debt. Unlike external debt domestic debt, while total income increased domestic borrowing then be used to reduce the total amount of income when their repayment then you can use. Purely consumptive debt as military, administrative fees are harmful. Debt depends on the use of economic construction for the effect, the effect is to accelerate economic development, increasing the ability to repay; poor will be unable to repay, it will become a negative factor for economic and social development. External borrowing must be moderate, generally considered debt service debt can not exceed 20% or 30% of total exports. Too much debt, more than the ability to repay the debt will become a slave country, there may even harm independent statehood. China to raise domestic debt bonds in modern China, began in the Qing Dynasty. In 1894, the Qing government to cope with the Sino military, organized the "interest rate paid by the supplier", the issuance of bonds. This is a Chinese domestic bonds held Origins. Akinobu shares issued in 1898 and 1912, the issue of patriotic bonds. After the founding of the Republic, fiscal deficits, public debt as an important means to raise the budget deficit to make up. Especially the KMT government rule, take high interest rates (The 8%), high discount (80% of face value by even 60% of receivables), the purchase of bonds who received real benefits far exceed industry profits, social hot money to make the best bonds absorbed, lack of investment in industry and commerce, economic development, resulting in stagnation. Government borrowing is used to maintain the rule of military institutions and voluminous, rarely used in economic construction. The result is no solvency, only in exchange for the old bonds with new bonds to maintain. Later forced to replace the silver banknotes in circulation, printing money is more convenient than bonds, it reduces the bond sale. From 1937 - 1949, hyperinflation policies implemented so that the bonds become old paper makes holding bonds of companies and individuals have suffered a great loss. In the semi-feudal period, China's foreign debt borrowing most of them are used for military expenses: ① plenty to crush the revolution, such as the Qing government in Xianfeng, Tongzhi and Guangxu years, in order to suppress the Taiping, Nien, Muslim peasant uprising, debt borrowing too many times; Kuomintang government in order to suppress the Chinese people's revolutionary movement, borrowing more than 60 multi-million dollar debt. ② plenty for war reparations, such as the Sino-Japanese War, Japan 230 million taels of silver to ask for reparations, the Boxer Rebellion Battle ask
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English Expression
n.: Bond, fund, offering, stock, underwriter, government bond, government enterprises revenue, the public debt, money lent to a government at a fixed rate of interest, government stock, public debt