Chinanews.com, January 26. According to the central bank’s website, in order to strengthen the management of savings government bonds (certificate-style) business and regulate the development of savings government bonds (certificate-style) business, on January 22, 2021, the People’s Bank of China and the Ministry of Finance jointly issued the "Savings The Measures for the Administration of National Debt (Voucher Type) (hereinafter referred to as the “Measures”) will come into force on March 1, 2021.

　　Savings Treasury Bonds (certificate type) is the first variety of my country's savings treasury bonds, which can be traced back to the treasury bonds issued since my country resumed the issuance of treasury bonds in 1981.

Since 1994, in order to meet the government's financing needs, my country has begun to issue certificated government bonds to individual residents and various types of investors in the society, using the method of filling in "The People's Republic of China certificated government bond collection vouchers" to record the creditor's rights, and gradually replacing the treasury bonds .

Since 2012, certificate-based government bonds have been issued only to individual investors.

In 2017, in order to facilitate the classification and management of government bonds, certificate-based government bonds were officially renamed savings government bonds (certificate-style).

　　Savings treasury bonds (certificate type) have the characteristics of high security, low purchase point, high yield, and flexible realization. They are popular with investors and play an important role in raising financial funds, promoting economic development, and meeting the investment needs of the people.

However, the current related management system of savings government bonds (certificate type) is not sound enough to meet the development needs of savings government bonds (certificate type) business, and it is urgent to introduce unified and standardized management methods.

The People's Bank of China and the Ministry of Finance jointly issued the "Measures", which will fill the gaps in the management system of savings government bonds (certificate type), provide effective system guarantees for the business management of savings government bonds (certificate type), and help further regulate the management of savings government bonds (certificate type) business , To promote the healthy and sustainable development of savings government bonds (certificate).

　　The “Measures” consist of five chapters and 32 articles, which mainly clarify the concept and scope of savings government bonds (certificate type), the method of issuance, the target of issuance, the method of interest calculation, and the sales channels, and regulate the purchase of savings government bonds (certificate type). The setting method and method of the limit; stipulates the general situation and special situation processing procedures for investors to purchase savings treasury bonds (voucher type), redeem in advance and redeem the principal and interest; set up underwriting syndicate members to handle savings bond (voucher type) ) Principles, responsibilities, powers, and prohibitive regulations on business, sales management, fee collection, and providing relevant services to investors.

　　The person in charge of the relevant department of the central bank stated that the target of issuance of savings treasury bonds (certificate type) is only for individual investors, and no organization or institution may subscribe for it.

During the issuance period, investors can present their valid ID documents at the counters of business branches of members of the savings government bond underwriting syndicate or apply for subscription through other sales channels that comply with the relevant regulations of the People's Bank of China and the Ministry of Finance.

　　After the investor successfully subscribes for the savings government bonds (certificate type), the members of the savings government bond underwriting syndicate should fill in the "People's Republic of China Savings Bond (certificate) receipt voucher" for the investor, and affix the business seal (or print the electronic seal), No other credentials may be used.

　　The person in charge also pointed out that before the expiration of the savings government bonds (certificate-style) (except the last day of the issuance period), investors can present the “Receipt of the People's Republic of China savings government bonds (certificate-style) receipts” and their valid identity documents to The business outlets of the members of the underwriting syndicate that originally purchased the treasury bonds can handle the redemption in advance, or go to the business outlets designated by the underwriting syndicate members or any business outlets within the scope of the exchange.

When investors apply for early redemption, they can only accrue interest in accordance with the stipulated conditions for the early redemption of the current treasury bonds, and must pay a handling fee to the members of the underwriting syndicate in accordance with the stipulated ratio.

After the members of the underwriting syndicate have reviewed and confirmed that the relevant procedures are correct, they must immediately pay the principal and interest to the investors, and must not refuse to proceed without reason.

　　In addition, after the savings bond (certificate type) expires, the investor can use the "People’s Republic of China savings bond (certificate) receipt voucher" and his/her valid ID card to go to the business branch of the underwriting syndicate member that originally purchased the national bond to handle the due payment. The principal and interest payment business can also be handled at the business outlet designated by the member of the underwriting syndicate or any business outlet within the scope of exchange.

After the members of the underwriting syndicate have reviewed and confirmed that the relevant procedures are correct, they must immediately pay the principal and interest to the investor, and shall not charge a handling fee, and shall not refuse to proceed without reason.

　　The central bank stated that in the next step, the People’s Bank of China and the Ministry of Finance will focus on publicizing the “Measures” through the Internet, radio and television, newspapers and periodicals, and other platforms to promote the “Measures” and national debt knowledge to investors to guide investment Establish correct investment philosophy and self-protection awareness.

At the same time, follow up and evaluate the implementation and implementation effects of the "Measures" after the promulgation of the "Measures" to ensure that the "Measures" achieve ideal results after the promulgation.