Article 1 People's Republic of China (PRC) and People's Republic of China (PRC) the State Council issued 1958 national economic construction bonds in order to accelerate national economic construction, gradually improve people's material and cultural living standards and promote people's savings. 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 630 million, which was issued on 1958 1 month, with interest bearing from 1958 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 current bond interest rate is set at 4% per annum, and the bond interest is paid in one lump sum when the principal is repaid, excluding compound interest. Article 6 The principal of this bond will be repaid in ten years. Since 1959, the principal will be repaid once every 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 freely traded. 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 of 1958+ 10/0/day.
1958 National Economic Construction Bond Debt Service Statement
Unit: thousand yuan
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Year │ current negative number │ frequency │ repayment ratio │ repayment of principal │ payment of interest │ principal interest * * *
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1959 │ 630,000 │ 1 │ 5% │ 3 1,500 │ 1,260 │ 32,760
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1960 │ 598,500 │ 2 │ 5% │ 3 1,500 │ 2,520 │ 34,020
─────┼───────┼───┼────┼───────┼───────┼───────
196 1 year │ 567,000 │3│5%│3 1.5 million │3780│35280
─────┼───────┼───┼────┼───────┼───────┼───────
1962 │ 535,500 │ 4.5% │ 3 1,500 │ 5,040 │ 36,540
─────┼───────┼───┼────┼───────┼───────┼───────
1963 │ 504,000 │ 5 │ 10% │ 63,000 │ 12,600 │ 75,600
─────┼───────┼───┼────┼───────┼───────┼───────
1964 │ 44 1,000 │ 6 │ 10% │ 63,000 │ 15, 120 │ 78, 120.
─────┼───────┼───┼────┼───────┼───────┼───────
1965 │ 378,000 │ 7 │ 10% │ 63,000 │ 17,640 │ 80,640
─────┼───────┼───┼────┼───────┼───────┼───────
1966 │ 3 15,000 │ 8 │ 15% │ 94500 │ 30,240 │ 124,740
─────┼───────┼───┼────┼───────┼───────┼───────
1967 │ 220,500 │ 9 │ 15% │ 94,500 │ 34,020 | 128,520
─────┼───────┼───┼────┼───────┼───────┼───────
1968 │ 126,000 │ 10 │ 20% │ 126,000 │ 50,400 │ 176,400.
─────┼───────┼───┼────┼───────┼───────┼───────
Total │ │ │ 630,000 │ 172620│802620
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