The interest rate of voucher-type treasury bonds is determined by the Ministry of Finance and the People's Bank of China with reference to the bank deposit interest rate and market supply and demand in the same period.
Certificate-based national debt refers to the national debt issued by the state to fill out the receipt of treasury bills instead of printing physical certificates. It is in the form of treasury bonds receipts as creditor's rights certificates, which cannot be listed and transferred, and interest will accrue from the date of purchase. During the holding period, if the holder needs to withdraw cash under special circumstances, he can redeem it at the purchase outlet in advance.