Professional investors and ordinary investors can participate in the subscription of publicly issued corporate bonds, and the credit status of corporate bonds meets the following standards: the issuer has no debt default or delayed repayment of principal and interest in the last three years; The average distributable profit of the issuer in the last three years is not less than 65438+ 0.5 times of the one-year interest of the bond; The scale of the issuer's net assets at the end of the latest period is not less than 25 billion yuan; The issuer has publicly issued bonds no less than three times in the last 36 months, and the issuance scale is not less than 654.38+0 billion yuan; Other conditions stipulated by the China Securities Regulatory Commission according to the needs of investor protection. Those who fail to meet the above standards are limited to professional investors to participate in the subscription.