Bonds are generally in the form of public issuance (except directional issuance, that is, private debt), and the application materials are examined and approved by the relevant centralized units (corporate bonds are CSRC, corporate bonds are NDRC, and winning bonds, short-term financing bonds and directional issuance are interbank dealers associations). The amount of bonds issued cannot exceed a certain proportion of the company's audited net assets. After approval, they can issue themselves within a certain period of time, and the interest rate is determined at the time of issuance.

Loans are generally in the form of bank loans or entrusted loans, which are usually private loans between specific entities. Without approval, all parties can reach an agreement, and the amount and mortgage are also determined through consultation (of course, the bank will have its own audit). Bonds don't need to be mortgaged. If the credit rating is low, the bond issuance interest rate will be high. In order to reduce the issue cost, enterprises generally guarantee their own credit.