Legal analysis: 1, internal financing. Endogenous financing refers to the funds generated by the company's business activities, that is, the funds raised within the company, which are mainly composed of retained earnings and depreciation. It refers to the process in which an enterprise continuously converts its savings into investment. Endogenous financing has the characteristics of primitiveness, autonomy, low cost and risk resistance. It is an indispensable part of enterprise's survival and development. In fact, in developed market economy countries, endogenous financing is the first choice for enterprises, and it is also an important source of funds for enterprises. 2. External financing. Exogenous financing means that an enterprise raises funds from other economic entities outside the enterprise in one way. With the progress of technology and the expansion of production scale, it is difficult to meet the capital demand of enterprises by relying solely on endogenous financing, and exogenous financing has gradually become an important way for enterprises to obtain funds.
Legal basis: Article 159 of the Company Law of People's Republic of China (PRC) stipulates that corporate bonds can be transferred, and the transfer price shall be agreed by the transferor and the transferee. Where corporate bonds are listed and traded on a stock exchange, they shall be transferred in accordance with the trading rules of the stock exchange.