First, according to the different ways of borrowing debts, national debt can be divided into national bonds and national loans.
National debt: it is the legal relationship of national debt formed by issuing bonds. National debt is the main form of domestic debt. The national debt issued by China mainly includes national debt, national economic construction bonds and national key construction bonds.
State loan: The borrower and the lender sign an agreement or contract through consultation according to certain procedures and forms to form a legal relationship of national debt. National borrowing is the main form of national foreign debt, including loans from foreign governments, loans from international financial organizations and loans from international commercial organizations.
Two, according to the different repayment period, national debt can be divided into fixed-term national debt and irregular national debt.
Term treasury bonds: refers to the treasury bonds issued by the state with strict repayment terms. According to the repayment period, fixed-term treasury bonds can be divided into short-term treasury bonds, medium-term treasury bonds and long-term treasury bonds.
Short-term national debt: usually refers to the national debt issued within 1 year, which is mainly used to adjust the temporary surplus and deficiency of the treasury capital turnover and has great liquidity.
Medium-term national debt: refers to the national debt with a maturity of more than 1 year and less than 1 year (including1year but excluding1year), which can make the country's use of debt funds relatively stable due to the long repayment time.
Long-term national debt: refers to the national debt with a maturity of more than 10 years (including 10 years), which enables the government to control its financial resources for a longer period of time, but the holder's income will be affected by the currency value and price.
Irregular national debt: refers to the national debt issued by the state without a specified repayment period. The holder of this national debt can get interest on schedule, but has no right to demand repayment of the debt. For example, the permanent national debt issued by Britain belongs to this category.
Three, according to the different issuing areas, national debt can be divided into domestic debt and foreign debt.
Domestic debt: refers to the national debt issued in China, the creditors of which are mostly citizens, legal persons or other organizations, and the principal and interest are paid in domestic currency.
National foreign debt: foreign debt refers to the general name of the principal and interest of various debts that residents of a country should repay to non-residents according to the contract. According to the Interim Provisions on Statistical Monitoring of Foreign Debt and the Detailed Rules for the Implementation of Statistical Monitoring of Foreign Debt issued by the State Administration of Foreign Exchange, China's foreign debt refers to all debts that organs, organizations, enterprises, institutions, financial institutions or other institutions in China undertake to repay contracts to overseas international financial organizations, foreign governments, financial institutions, enterprises or other institutions.
Four, according to the nature of the issue, the national debt can be divided into free national debt and compulsory national debt.
Free national debt: also known as arbitrary national debt, refers to the national debt issued by the state and voluntarily subscribed by citizens, legal persons or other organizations. It is a common form of issuing national debt in contemporary countries and is easily accepted by buyers.
Compulsory national debt: it is the national debt that citizens, legal persons or other organizations are forced to buy by the state by virtue of its political power and according to the prescribed standards. This kind of national debt is generally used in wartime or when there are financial and economic difficulties or when specific policies are implemented and specific goals are achieved.
Five, according to different purposes, national debt can be divided into deficit national debt, construction national debt, special national debt and war national debt.
Deficit national debt: refers to the national debt used to make up the fiscal deficit. In countries with dual budget system, the national debt included in the regular budget belongs to deficit national debt.
Construction national debt: refers to the national debt used to increase the state's investment in the economic field. In countries with dual budget system, the national debt included in the capital (investment) budget belongs to the construction national debt.
Special national debt: refers to the national debt issued to implement special policies within a specific scope or for a specific purpose.
War national debt: War national debt refers to the national debt used to make up for war expenses.
Six, according to the circulation, national debt can be divided into listed national debt and unlisted national debt.
Listed national debt: also known as tradable national debt, refers to the national debt that can be bought and sold freely in the stock exchange.
Unlisted treasury bonds: also known as unsold treasury bonds, refer to treasury bonds that cannot be bought and sold freely. This kind of national debt generally has a long term and high interest rate, and is mostly issued by registered method.
Seven, according to the liquidity of bonds, can be divided into negotiable bonds and non-negotiable bonds.
Treasury bonds in the form of state loans are generally not negotiable, and only bonds issued by the government can be negotiable.
Free transfer and circulation are the basic attributes and characteristics of national debt, and the national debt issued by most countries can be traded freely in the securities market.
Eight, according to the certificate issued as the standard, can be divided into voucher bonds and book-entry bonds.
Certificate-based national debt: refers to the bonds issued by the state in the form of filling in treasury receipts.
Bookkeeping treasury bonds: also known as paperless bonds, are bonds issued by the Ministry of Finance in a paperless way, which record creditor's rights by computer bookkeeping and can be listed and traded.