About the bonds of my doubts

Puzzled for a long time. This time to test on Baidu a few ...

1. What are the differences between securities, bonds and equities?

A: securities = stocks + bonds + other types of securities securities is a general term, stocks, bonds is a specific type of security of the name.

Bonds and equities, the difference is the holder of the right to the difference: the bond is equivalent to the promissory note, this is to repay your principal and interest according to the prescribed conditions, this is the money you lend to others, no matter what the profit or loss he will only return your interest, not many and many. Stock, is the money you invest in others, he is not obligated to repay you, according to his business conditions decide whether to give you dividends. The main risk of a bond is that the borrower is unable to repay, and the risk of the stock is that the deterioration of the business results in the depreciation of stocks. The risk of both cannot be compared in the general sense of size. generally speaking, the bond risk is low, the stock returns high risk.

2. Why can bonds be traded in Szse and SSE like a-shares?

A: In the Chinese stock market, the interbank bond market (the legendary OTC) accounts for 90% of the bond trade, while the Exchange (SSE or SZSE) bonds only account for about 10% of the bond trade.
Some bonds can be traded like a-shares because some bond varieties can be traded across markets , that is, they can be traded in the interbank bond market or on stock exchanges.
In short, bonds in the two markets, there are overlapping. The difference between the two specific markets and the same point, see:

By the way: bond trading, in both markets, is not all. That is, exchanges not only deal in bonds, but also in the interbank currency market , which includes money markets, bond markets and derivatives markets.

About the bonds of my doubts