Debt-to-loan income This is the loan income obtained by the state from home and abroad through credit. For example, public bonds, treasury bonds and Russian bonds are issued at home and abroad for economic construction, and loans are obtained from foreign governments and international organizations. Debt income and other income account for a small proportion of fiscal revenue, but they include many projects and are highly policy-oriented. There are mainly operating income, fee income, confiscation income, national capital operating income, public property income, special income and so on.

Legal basis:

People's Republic of China (PRC) Securities Law

Article 15 A public offering of corporate bonds shall meet the following conditions: (1) It has a sound organization and good operation; (2) The average distributable profit in the last three years is enough to pay the interest of corporate bonds for one year; (3) Other conditions stipulated by the State Council. The funds raised by public offering of corporate bonds must be used in accordance with the purposes listed in the Measures for Raising Corporate Bonds; Any change in the use of funds must be decided by the bondholders' meeting. The funds raised from the public offering of corporate bonds shall not be used to cover losses and unproductive expenditures. When a listed company issues corporate bonds that can be converted into shares, it shall not only meet the conditions stipulated in the first paragraph, but also comply with the provisions of the second paragraph of Article 12 of this Law. However, according to the method of raising corporate bonds, unless a listed company converts corporate bonds by buying company shares.

Article 16 To apply for public issuance of corporate bonds, the following documents shall be submitted to the department authorized by the State Council or the securities regulatory authority in the State Council: (1) Business license of the company; (2) Articles of association. (3) Measures for raising corporate bonds. (4) Other documents as prescribed by the authorized department of the State Council or the securities regulatory authority of the State Council. Where a sponsor is hired in accordance with the provisions of this law, a letter of recommendation for issuance issued by the sponsor shall also be submitted.