According to Snowball.com, China Bond is the abbreviation of China Government Bond Depository and Clearing Co., Ltd., the only institution authorized by the Ministry of Finance to host the establishment and operation of the national bond custody system, and also the bond registration and custody settlement institution in the national inter-bank bond market designated by the People's Bank of China and the first-level custody institution for book-entry treasury bond transactions of commercial banks. China Bond can also refer to China Bond government bond index, which is an index compiled by China Bond Financial Valuation Company, a wholly-owned subsidiary of China Bond Company, to reflect the overall price changes of the national debt market.