1. Shadow banking: Generally speaking, it refers to a non-bank financial institution that has certain banking functions but is not regulated or less regulated. In short, shadow banking is a financial institution that can provide credit but does not belong to banks. In China, shadow banking mainly includes off-balance-sheet businesses such as trust companies, guarantee companies, pawn shops, underground banks, money market funds and various private equity funds. Small loan companies and various financial institutions, as well as private financing. Features: many institutions, small scale, low level of leverage, but rapid development. 2. Hot money: also known as hot money or speculative short-term funds. It usually refers to short-term funds that flow rapidly for the purpose of speculative profit, and their import and export are often easy to induce market and even financial turmoil. The investment targets of hot money are mainly foreign exchange, stocks, precious metals and their derivatives markets. "Four highs" characteristics: high returns and high risks; Informationization and high sensitivity; High liquidity and short-term; Investment is fictitious and speculative. 3. Roadshow: the publicity activities conducted by the securities issuer to institutional investors before issuing securities. The purpose is to promote the communication and exchange between investors and stock issuers, so as to ensure the smooth issuance of stocks. Now many fund companies will also carry out roadshows when the project starts. During the activity, the company introduced the company's performance, products and development direction to investors in detail, and fully expounded the investment value of listed companies, so that potential investors could have a deeper understanding of the specific situation and answer the questions of institutional investors. 4. Policy banks generally refer to non-profit financial institutions established by the government to implement national industrial policies and regional development policies. From 65438 to 0994, China established three policy banks-China Development Bank, The Export-Import Bank of China Agricultural Development Bank and China Agricultural Development Bank. China Development Bank became a commercial bank on February 6, 2008. : 1. Offshore finance: refers to financial activities, capital flows, insurance, trust, securities and derivative products transactions that provide financial services such as settlement and lending, mainly involving non-residents (overseas individuals, legal persons, government agencies, international organizations, etc.). ), and is not restricted by the general financial regulations of the country where the market is located and the country where the currency is issued. The main business of offshore finance is to absorb non-resident funds and serve non-resident financing needs. Therefore, it is vividly called "two-headed" financial business, and the formed market is called offshore financial market. At present, China's offshore financial business is still in the initial exploration stage. 2. Financial disintermediation: refers to the fact that the supply of funds bypasses the media systems such as commercial banks and is directly transmitted to the demanders and financiers, leading to the extracorporeal circulation of funds. For example, enterprises directly issue bonds, stocks or short-term commercial bills in the market instead of obtaining loans from commercial banks. From the perspective of financing methods, financial disintermediation is a process in which social financing gradually changes from indirect financing to direct financing. It should be said that financial disintermediation is an objective law of the development of China's market economy and national economy, and it is an inevitable trend for the government to promote the innovation and development of financial markets. 3. Inter-bank bond market:-The inter-bank bond market refers to the market that relies on the National Inter-bank Funding Center and the Central Securities Depository and Clearing Corporation, including commercial banks, rural credit cooperatives, insurance companies, securities companies and other financial institutions for bond trading and repurchase. The inter-bank bond market was established on June 6th, 1997. After the rapid development in recent years, the inter-bank bond market has become the main body of China's bond market. Most book-entry treasury bonds and policy financial bonds are issued and traded in this market.