Short-term corporate bonds have a maturity of less than 1 year, medium-term corporate bonds have a maturity of more than 1 year and less than 5 years, and long-term corporate bonds have a maturity of more than 5 years. Bonds are securities issued by debtors such as governments, enterprises and banks in accordance with legal procedures in order to raise funds and promise creditors to repay the principal and interest on a specified date. The essence of a bond is a certificate of debt, which has legal effect.
legal ground
Article 153 of the Company Law of People's Republic of China (PRC)
The term "corporate bonds" as mentioned in this Law refers to the securities issued by the company according to legal procedures and agreed to repay the principal and interest within a certain period of time.
The issuance of corporate bonds by a company shall conform to the issuance conditions stipulated in the Securities Law of People's Republic of China (PRC).