Article 1 People's Republic of China (PRC) * * and People's Republic of China (PRC) the State Council issued 1957 national economic construction bonds in order to accelerate national economic construction, gradually improve people's material and cultural living standards and advocate economy. Article 2 The offering and repayment of principal and interest of bonds in this period shall be calculated in RMB. Article 3 The total amount of bonds in this issue is RMB 600 million, which was issued on 1957 1 month, with interest bearing from 1957 10/day. If the repayment is made in advance, the interest will be discounted at the prescribed interest rate. Article 4 There are six denominations of bonds: one yuan, two yuan, five yuan, ten yuan, fifty yuan and one hundred yuan. Article 5 The interest rate of this bond is set at 4% per year, and the interest will be paid once a year on September 30th from 1958. Article 6 The principal of this bond will be repaid in ten years. Since 1958, the principal will be repaid once a year on September 30th, with 5% for the first, second, third and fourth installment, 0/0% for the fifth, sixth and seventh installment, 0/5% for the eighth and ninth installment, and the remaining 20% will be paid off in the tenth installment. Article 7 The People's Bank of China and its branches are designated to handle the issuance of bonds and the repayment of principal and interest. Article 8 This bond shall not be circulated as currency, and shall not be mortgaged to national banks or public-private joint banks. Article 9 Whoever forges bonds of current period or damages the credit of bonds of current period shall be punished according to law. Article 10 These Regulations shall come into force as of1June, 957+1 year1October.
1957 National Economic Construction Bond Debt Service Statement
Unit: thousand yuan
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Year │ │ │ │ │ │ │ │ │ │ │ │ │ │ │ │ │ │ │
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1958│600,000│ 1 │ 30,000│ 24,000│ 54,000
1959│570,000│ 2 │ 30,000│ 22,800│ 52,800
1960│540,000│ 3 │ 30,000│ 2 1,600│ 5 1,600
196 1│5 10,000│ 4 │ 30,000│ 20,400│ 50,400
1962│480,000│ 5 │ 60,000│ 19,200│ 79,200
1963│420,000│ 6 │ 60,000│ 16,800│ 76,800
1964│360,000│ 7 │ 60,000│ 14,400│ 74,400
1965│300,000│ 8 │ 90,000│ 12,000│ 102,000
1966│2 10,000│ 9 │ 90,000│ 8,400│ 98,400
1967│ 120,000│ 10 │ 120,000│ 4,800│ 124,800
Total │ 600,000 │164,400 │ 764,400
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