Term structure of interest rate refers to the relationship between yield to maturity and maturity of bonds. This structure can be represented by the interest rate term structure diagram, and the curve in the diagram is the yield curve. In other words, the yield curve represents the interest rate term structure of bonds. The influencing factors mainly depend on the sensitivity of interest rate to the term, and the key lies in the long-term macroeconomic policy of the country and the long-term profitability of enterprise investment. So far, the deposit and loan interest rate structure in China is extremely simple, that is, the long-term interest rate will be higher than the short-term interest rate. Interest rate risk is generally defined as "the risk of loss (or gain risk) due to interest rate changes", and the risk related to net interest income is called structural risk. It can also be understood as a relationship formed by the same term but different interest rates from the maturity date. The influencing factors are general risk, liquidity, income tax, bond maturity and many other reasons.