Financial institutions refer to intermediary organizations specializing in monetary and credit activities. According to their status and functions, financial institutions in China can be divided into central banks, banks, non-bank financial institutions and foreign-funded, overseas Chinese-funded and joint-venture financial institutions.

Financial market refers to the market where fund providers and fund demanders trade through credit instruments to raise funds. Broadly speaking, it is a market that realizes monetary lending and financing, and handles various bills and securities trading activities. A relatively perfect definition of financial market is that financial market is a mechanism for trading financial assets and determining their prices.

Symmetry of financial assets and physical assets. Assets in the form of value owned by units or individuals. Claiming that physical assets are an intangible right. It is the general name of all financial instruments that can be traded in the organized financial market and have realistic prices and future valuations. The biggest feature of financial assets is that they can provide their owners with immediate or long-term monetary income streams in market transactions. Although the existence of financial markets is not a necessary condition for the creation and trading of financial assets, in most countries' economies, financial assets are still traded in the corresponding financial markets.

The stock market is the place where issued stocks are transferred, traded and circulated, including exchange market and OTC market. Because it is based on the distribution market, it is also called the secondary market.

The stock price index is an index that describes the changes of the overall price level of the stock market. It is to select a group of representative stocks, weight and average their prices, and get them through certain calculation.

Foreign exchange is a payment voucher expressed in foreign currency for international settlement. The International Monetary Fund's interpretation of foreign exchange is that foreign exchange is a creditor's right held by monetary management authorities (central bank, monetary institutions, foreign exchange stabilization fund and Ministry of Finance) in the form of bank deposits, treasury bonds and long-term and short-term government securities. Can be used when the balance of payments is in deficit. Including: foreign currency, foreign currency deposits, foreign currency securities (government bonds, treasury bonds, corporate bonds, stocks, etc.). ) and foreign currency payment vouchers (bills, bank deposit vouchers, postal savings vouchers, etc.). ).

Exchange rate, also known as "foreign exchange market or exchange rate", is the most important adjustment lever in international trade. The ratio of one country's currency to another is the price of one currency to another.

Foreign exchange control refers to the restrictive measures taken by a government to balance the international payments and maintain the exchange rate of its own currency. It is also called foreign exchange management in China.

Floating exchange rate is the symmetry of fixed exchange rate. According to the exchange rate that the market supply and demand freely rise and fall, the monetary authorities do not interfere.

Fixed exchange rate is the exchange rate that basically fixes the exchange rate between one country's currency and another country's currency. The fixed exchange rate is not a completely fixed exchange rate, but fluctuates around a relatively fixed parity. The highest point of this range is called "upper limit" and the lowest point is called "lower limit".

Open-end funds include general open-end funds and special open-end funds. The special open-end fund is LOF, which is called "listed open-end fund" or "open-end fund" in English and "listed open-end fund" in Chinese. In other words, after the issuance of listed open-end funds, investors can purchase and redeem fund shares at designated outlets, or buy and sell funds on exchanges.

Closed-end fund refers to the fund sponsors' restrictions on the total amount of fund units when setting up funds. After the total amount of fundraising is completed, the fund is announced to be established and closed, and no new investment will be accepted for a certain period of time.

* * * The same fund is actually an investment company. As a company, each fund has its own manager, employees, operation mode and objectives. The investment objectives of the fund reflect the reasons for its establishment and existence. In short, * * * collects part of the clients' funds into the fund and invests for the preset purpose on behalf of their interests. Every fund company will hire investment professionals to manage the fund's portfolio, usually called portfolio manager. * * * The same fund is to collect a large number of investors and employees' money to buy stocks of various manufacturers. A combination of stocks, bonds and other assets purchased in the name of a group of investors and managed by professional investment companies or other financial institutions.

Mortgage loan refers to the loan that the borrower obtains from the bank with certain collateral as guarantee.

Subprime mortgage refers to loans provided by some lending institutions to borrowers with poor credit and low income.

Market failure refers to the situation that the market cannot effectively allocate goods, services and resources, which is the logical starting point of government intervention. Government intervention is of great significance for correcting market failure, improving efficiency, promoting equality and maintaining macroeconomic stability.

Asset securitization only refers to asset securitization in a narrow sense. Since 1970, the National Mortgage Association issued mortgage-backed securities based on mortgage portfolio for the first time and completed the first asset securitization transaction, asset securitization has gradually become a widely used financial innovation tool and developed rapidly. On this basis, products such as risk securitization are now derived.

Deregulation means relaxing or canceling many restrictions on financial institutions, such as restrictions on product types and service places.

Financial globalization refers to the transnational development of the financial industry, financial activities operate according to the same global rules, the prices of homogeneous financial assets tend to be equal, and huge international capital flows rapidly around the world through financial centers, thus forming a global integration trend.