People's Republic of China - 1955 dated 1,000,000 Chinese Yuan Bond - National Economic Construction Loan - Extremely Rare
Inv# FB6743 Bond
1,000,000 Chinese Yuan 4% Bond for the National Economic Construction Loan. PASS-CO authenticated and 7 coupons remain.
The Five-Year Plans are a series of social and economic development initiatives issued by the Chinese Communist Party (CCP) since 1953 in the People's Republic of China. Since 1949, the CCP has shaped the Chinese economy through the plenums of its Central Committee and national congresses. The party plays a leading role in establishing the foundations and principles of Chinese communism, mapping strategies for economic development, setting growth targets, and launching reforms.
Planning is a key characteristic of the nominally socialist economies, and one plan established for the entire country normally contains detailed economic development guidelines for all its regions. In order to more accurately reflect China's transition from a Soviet-style command economy to a socialist market economy (socialism with Chinese characteristics), the plans since the 11th Five-Year Plan for 2006 to 2010 have been referred to in Chinese as "guidelines" instead of as "plans".
China's Five-Year Plans have been praised for their efficiency, capabilities and their importance to rapid economic growth, development, corporate finance and industrial policies. Read more at Read more at https://en.wikipedia.org/wiki/Five-year_plans_of_China
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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