English Chinese translation sample-Book-entry T-Bond - Helpful Tips3

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

13. Can someone open account for trading OTC bond or trade on behalf?
Agents sign up bond services for investors should hold valid ID document of his own and investor and fill in all vouches at designated ICBC Business Office.
　　13. 柜台债券交易是否可由他人代理开户及债券买卖？
　　代理人持本人及投资人的有效身份证件，到银行指定网点，填写债券业务相关凭证，即可代投资人办理债券业务。

14. Can bond bought be sold out on the same day?
Bonds that investor buy can be sold out on the same day.
　　14. 投资人当天买入的债券可以当天卖出吗？
　　投资人当天买入的债券可以当天卖出。

15. When will money be credited into account after bond has been sold?
Monies will be credited real time into the bank account designated by investor when opening Custody Account.
　　15. 卖出债券后，资金何时到账？
　　投资人卖出债券后，资金实时记入投资人开立托管账户时指定的银行资金账户。

16. Where can investors get the trade prices and information on bond?
At designated ICBC Business Office Counter, through calling Telephone Banking (95588), logon ICBC website (www.icbc.com.cn), China Bond Information Network (www.chinabond.com.cn)
　　16. 投资人从哪些途径可以获得债券交易价格和债券的信息？
　　投资人获得债券交易价格的途径包括：工商银行指定网点柜台、电话银行（95588）、工商银行网站（www.icbc.com.cn）、中国债券信息网（www.chinabond.com.cn）等。

17. How investors check bond balance and trading details?
Through 2 channels: ICBC Business Offices or China Government Securities Depository Trust & Clearing Company. Investors make enquiry on account balance and trading details at ICBC Counter with Bond Trading Card and enter password. Enquiry through Telephone Enquiry System of China Government Securities Depository Trust & Clearing Company (010-66005000) should enter Bond Custody Account No. and enquiry password. Initial enquiry password is the last 6 digits of ID No (Individual Investor) or Organizational Institution Code Card (Institutional investor). Zero is inserted in front if less than 6 digits.
　　17. 投资人如何查询债券余额及债券交易情况？
　　投资人可通过银行网点和中央国债登记公司电话查询系统两个渠道查询债券余额及债券交易情况。通过银行柜台查询时，投资人应持债券交易卡，并输入债券交易卡密码，即可查询到账户余额及交易明细；通过中央国债登记公司电话查询系统（010-66005000）查询时，应输入债券托管账号和查询密码，查询初始密码为身份证件号（个人投资人）或组织机构代码证（机构投资人）的后六位数字，不足六位的在前面补零。

18. What is custody transfer? How to apply for custody transfer service?
Custody transfer is the transfer of custody between two custody accounts opened by same investor, or transfer bond on hand from one custody account to another under the same investor.
　　18. 什么是转托管？如何办理转托管业务？
　　转托管是指同一投资人开立的两个托管账户之间的托管债券的转移，即其持有的债券从一个托管账户转到属于该投资者的另一个托管账户进行托管。

Investors applying for the service should hold valid ID document, Bond Trading Card, Bond Account Card, fill in Bond Account Application Form (stamped with reserved seal for Institutional investors) at designated ICBC Business Office and pay the necessary banking charges.
　　投资人办理转托管业务时，须持本人有效身份证件、债券交易卡、债券账户卡，到我行指定的营业网点柜台，填写《债券账户业务申请表》（机构投资人加盖预留印鉴），按规定交纳相应的手续费，即可办理转托管业务。

English Chinese translation sample-Book-entry T-Bond - Helpful Tips2

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

7. Which cities that ICBC has opened book-entry bond service?
Currently, ICBC has opened OTC trading services at Tier-1 Branches and Direct Branches across the country. Service is available at all nationwide deposit and withdrawal ICBC Business Offices in major cites of all provinces (except Tibet).
　　7. 工商银行在哪些城市开办记账式债券业务？
　　目前，工商银行全国所有一级分行及直属分行均开办了债券柜台交易业务，所有省份（除西藏地区外）主要城市的通存通兑网点均可办理业务。

8. What are the ICBC service hours for OTC bond?
Every Monday to Friday, 10:00 – 15:30; Stop Trading Notice will be announced at ICBC Counter 2 working days in advance during national holidays or subject to Peoples' Bank of China Rules.
　　8. 工商银行受理柜台债券业务的时间？
　　每周一至周五：10：00---15：30，遇国家法定节假日或根据人民银行规定需要停止交易的，提前2个工作日在银行柜台发布公告。

9. How to open Bond Custody Account at ICBC?
Investor holding valid ID document should specify an ICBC current account with the same name opened in local area (as the bank account to trade OTC bond) and fill in Custody Agreement and Bond Account Application Form at the ICBC Business Office where this service is available. ICBC will open Bond Custody Account and issue "Bond Custody Account Card" to investor.
　　9. 如何在工商银行办理债券托管账户开户？
　　投资人应持有效身份证件并指定一个同户名的本地区内的工商银行活期存款账户（作为柜台债券交易的债券资金账户），到工商银行开办此业务的网点柜台，按要求填写托管协议书及债券账户业务申请表，由工商银行为投资人开立债券托管账户，并向投资人发放“债券托管账户卡”。

Valid identity document that individual investor should hold: ID Card or Temporary ID Card within validity period, Resident Registration Booklet, Military ID Card, Passport. Bank account designated by individual investor should be the matched RMB Savings Account of Peony Money Link Card. If someone opens the account on behalf, valid identity document of this person should be submitted as well.
　　个人投资人有效身份证件包括：居民身份证或有效期内的临时居民身份证、户口簿、军人证，护照等。个人投资人指定的资金账户应牡丹灵通卡对应的人民币储蓄账户。如需他人代开，需同时提交代理人有效身份证件。

Institutional investor should surrender: Company's Business License, Organizational Institution Code of Institutional Association, valid ID document of the Officer-in-charge. If the account opening company is a subsidiary branch, authorized written document from legal person has to be submitted as well. Bank account designated by institutional investor is the RMB settlement account in customer self-service card.
　　 机构投资人需向银行出示企业的营业执照、事业社团法人的组织机构代码证、经办人个人有效身份证件等；如开户单位为分支机构的，还应提交法人授权其开户的书面证明。机构投资人指定的资金账户应是客户自助卡中的人民币结算账户。

10. What are the fees that investor have to pay for signing up bond service?
(1) 10 Yuan for opening Bond Custody Account, a one-time fee collected by ICBC.
(2) 50 Yuan for each non-trade transfer, 20 Yuan for each custody transfer, investors only need to pay during non-trade transfer or custody transfer.
　　10. 投资人办理债券业务需交纳哪些费用？
　　投资人办理债券需交纳的费用包括：（1）托管账户开户费10元，这是投资人开立债券托管账户时由银行一次性收取的工本费。（2）非交易过户每次50元，转托管费每次20元，投资人只有在办理非交易过户或转托管时才交纳。

11. How investors apply for trading Bond? What are the procedures?
Investors should hold valid ID document, Bond Trading Card (Money Link Card for Personal, Customer Self-Service Card for Institutional Officer) and fill in Bond Buy/Sell Voucher at designated ICBC Business Office.
　　11. 投资人如何办理债券买卖交易？需办理哪些手续？
　　投资人持本人有效身份证件、债券交易卡（个人持牡丹灵通卡，机构经办人持客户自助卡），到银行指定网点，填写债券买入或卖出凭证即可办理债券买卖。

12. Any tax has to be paid for investment return from OTC bond trades?
According to Rules, no tax is levied on interest income from T-Bond investment.
　　12. 柜台债券交易投资收益是否交纳税金？
　　根据规定，进行国债投资获得的利息收入不用交纳所得税。

English Chinese translation sample-Book-entry T-Bond - Helpful Tips1

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

☆ Helpful Tips - FAQs
1. Which kind of bond can be traded over-the-counter?
Bonds can be traded over-the-counter at commercial bank are bond designated by Ministry of Finance and approved by Peoples' Bank of China. Types of bond products, issue scale, and issue period will be announced by PBC and Ministry of Finance in public media.
　　☆ 温馨提示——常见问答
　　1. 哪些债券可以进行柜台交易？
　　可在商业银行柜台进行交易的债券须由财政部指定、经中国人民银行批准的记账式国债。具体债券品种、发行规模和发债时间，中国人民银行和财政部将在有关媒体公布。

2. Who are the investors can apply for this Service?
Except Financial Institutions, individual holding valid ID and Company or Associations are all eligible to open Bond Custody Account at commercial banks to trade T-Bond.
　　2. 哪些投资人能办理此项业务？
　　除金融机构外，凡持有有效身份证件的个人以及企业或事业社团法人，均可在商业银行柜台开立国债托管账户并进行国债买卖。

3. What is the difference between bond traded at Counter and Certificate Treasury?
Trading Hours: Book-entry bond can be traded anytime. Certificate Treasury can only be purchased during specific issuance period.
　　3. 通过柜台交易的记账式国债与凭证式国债有何不同？
　　买卖时间：记账式国债可随时买卖。而凭证式国债只有在规定的发行期内方可买到。

Liquidity: Book-entry bond can be sold and purchased anytime (repeatedly), very flexible. Certificate Treasury can only be drawn in advance (once) at commercial bank, very difficult to buy again.
　　流动性：记账式国债随时可以卖出，随时可以买入（多次反复），流动性强；凭证式国债只能到商业银行提前兑取（一次性），很难再买入。

Custody: Certificates of Certificate Treasury are kept by investors, easy to lose. Book-entry Bond is recorded in Bond Account, easy to trade.
　　保管方式：凭证式国债的凭证由投资人自行保管，易遗失。记账式国债记载在债券账户中，交易方便。

Interest Payment: Interest on book-entry bond is paid annually; real yield is higher than coupon rate. Certificate Treasury has principal and interest repaid based on coupon rate at maturity.
　　付息方式：记账式每年付息一次，如果滚动投资，实际收益率比票面利率高；凭证式到期按照票面利率还本付息。

Return: Yield of Certificate Treasury is fixed, i.e. coupon rate: Long-term holding of book-entry bond means stable return but varies according to interest rate if they are traded. Those who trade sharp can get additional earnings.

　　收益水平：凭证式收益率固定，即票面利率；记账式国债长期持有则收益固定，若进行买卖则可随利率变动而变动，预期判断准确者可获得额外收益。

Risk: Interest rate of Certificate Treasury is fixed. Earnings will drop relatively if there are changes in market rate. Price of book-entry bond follows the market. Yield varies accordingly. Hence, it can be sold early to mitigate risk.
　　风险程度：凭证式利率不变，遇市场利率变动时可能导致相对收益下降；记账式价格随市场变化而变化，收益率相应变化，可提前卖出来降低风险。

4. What is the difference between book-entry bond traded at the Counter and T-Bond traded at Exchange?
Place: Bond traded at Exchange needed to have Securities Account opened in Securities Company. OTC bond processed through Bank. Account is opened at Bank.
　　4. 柜台交易的记账式国债与交易所的国债有何区别？
　　场所：交易所债券需在证券营业部开立证券账户；柜台债券通过银行办理，在银行开立账户。

Trading Fee: Trading bond at Exchange has to pay fee based on trading volume. Trading OTC bond does not have to pay fee.
　　交易费用：交易所买卖债券时需按交易量缴纳交易费用；买卖柜台债券不需交纳交易费用。

Closing: Closing of bond traded at Exchange is order matching. Order closed when buy/sell price and quantity are consistent. If not, no closing or partially closed. Closing of OTC bond through Bank is market making. Order closed immediately.
　　买卖成交：交易所债券的成交方式为撮合式，买卖价格和数量一致时成交，若不一致，则可能不成交或部分成交；银行柜台债券的成交方式为做市商式，当场成交。

5. What is the difference between Book-entry bond traded OTC and the T-Bond at Inter-Bank market?
Inter-Bank Bond Market is a wholesale market for bond. Members are financial institutional investors such as commercial banks, credit cooperatives, securities companies, insurance companies, financial companies and Fund companies. It is not a market for individual and non-financial institutional investors. Trading is through price inquiry. Amount involved is huge.
　　5. 柜台交易的记账式国债与银行间债券市场的国债有何区别？
　　银行间债券市场是债券的批发市场，成员均为商业银行、信用社、证券公司、保险公司、财务公司和基金等金融机构投资者，个人和非金融的机构投资者不能进入，交易方式为询价方式，交易金额较大。

OTC is the retail market for bond. Investors are individual and non-financial institutional investors. Trading is through market making. Fewer amount involved.
　　柜台交易为债券的零售市场，投资人为个人或非金融的机构投资者，交易方式为做市商式，交易金额相对较小。

6. What are the advantages of trading and buying book-entry bond at commercial banks counters?
First, Investors such as individual and companies have more channels to buy bonds which broaden their investment choice.
　　6. 通过商业银行柜台购买和交易记账式国债有何优点？
　　一是可以增加个人和企业等各类投资人购买国债的渠道，为投资人提供新的金融产品。

Second, retail investors can trade easily by making use of the commercial bank outlets all over the country.
　　二是由于商业银行网点遍布全国各地，可以利用商业银行的网点优势，方便广大的居民投资人买卖记账式国债。

Third, Investor can buy anytime at commercial bank, or sell when in need of cash. Investor can better move around T-Bond assets.
　　三是投资人可以在商业银行柜台随时购买到国债，也可以在需要资金的时候，通过商业银行柜台卖出国债，从而提高了投资人债券资产的流动性。

Fourth, Book-entry bond has rich varieties, flexible interest payment. Varieties can have single repayment of principal and interest, or interest paid annually. Many choices are available for investors.
　　四是记账式国债种类较丰富，付息方式灵活，债券品种既可以是到期一次还本付息，也可以是按年付息，可以为投资人提供较多的选择。

Fifth, there are additional earnings higher than coupon rate when bonds appreciate.
　　五是可以享受债券升值带来的高于票面利率的额外收益。

English Chinese translation sample-Book-entry T-Bond-Operation Guide

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

☆ Operation Guide
1. Internet Banking
If you are a registered customer of ICBC Personal Internet Banking, you can open/cancel bond custody account, maintain, subscribe bond and trade.　Flow Chart>> (Chinese Version)
　　☆ 操作指南
　　1. 网上银行操作流程
　　如果您是我行个人网上银行注册客户，即可直接在我行网站进行债券托管账户开销户管理、维护、债券认购、买卖的交易。查看流程>>

2. Telephone Banking
Open Bond Custody Account at ICBC business office, use Peony Money Link Card, Elite Club Card or E-Age Card to register under Personal Telephone Banking, and sign up bond services.
(1) Operation flow of buying bond through Telephone Banking:　Flow Chart>> (Chinese Version)
(2) Operation Flow of selling bond through Telephone Banking:　Flow Chart>> (Chinese Version)
(3) ICBC Telephone Banking also offer enquiry, fax and operator service
　　2. 电话银行操作流程
　　您需要到我行营业网点开立债券托管账户，并使用牡丹灵通卡、理财金卡或E时代卡办理个人电话银行注册手续，同时开通债券业务。
　　（1）使用电话银行买入债券的操作流程为：查看流程>>
　　（2）使用电话银行卖出债券的操作流程为：查看流程>>
　　（3）工行电话银行债券投资功能还为您提供查询、传真及人工服务。

3. At ICBC business Office
(1) Account Opening. When opening an account at ICBC business office, specify Elite Club Account Card, Peony Money Link Card - E-Age or Peony Money Link Card as the unique settlement account for payment and receipts of monies related to bond trades.
　　3. 营业网点操作流程
　　（1）开户。您在营业网点办理开户手续时需指定您的理财金账户卡、牡丹灵通卡e时代或牡丹灵通卡作为您唯一的债券交易资金结算账户，用于办理与债券交易业务相关的资金收付。

(2) Trading. Trade bond with own ID document and bank card (Elite Club Account Card, Peony Money Link Card - E-Age or Peony Money Link Card), trade at specified ICBC business offices and fill in Buy/Sell Bond Voucher.
　　（2）买卖交易。您持本人有效身份证件和办理债券交易的银行卡（理财金账户卡、牡丹灵通卡e时代或牡丹灵通卡），到银行指定网点，填写债券买入或卖出凭证即可办理债券买卖。

English Chinese translation sample-Book-entry T-Bond-Introduction

（Edited by freelance Chinese translator li – English to Chinese translation or Chinese to English translation services- financial translation）

Book-entry T-Bond
☆ Introduction
A bond issued by Ministry of Finance against which it represents a claim reflected as accounting entries in a custody account under real name. There is no need to hold any certificate. Just open a Bond Custody Account in ICBC under your name to record the bonds on your hand.
记账式国债
　　☆ 服务简介
　　记账式国债是由财政部发行的、在实名托管账户中记账反映债权的债券。您不需持有债券凭证，只需在我行开立债券托管账户，记载您持有的债券，将您的国债托管在您在我行开立的实名托管账户中。

☆ Features
1. ICBC OTC bond trading system is scientifically designed. Existing deposit account can be used to trade T-Bond without any need to open another special account.
　　☆ 服务特色
　　1. 工行的柜台债券交易系统设计科学，您利用现有的存款账户即可办理债券买卖，不需重新开立资金专户。

2. All T-Bond trades are cleared in real time. Your money is used efficiently so that you can have different management on your finance.
　　2. 债券买卖的资金实时清算，方便您最大限度地提高资金运用效率，进行多种理财管理。

3. Many ways to trade. ICBC business offices are everywhere in the country. Bond can be traded at different ICBC business offices. With trading offered through online and telephone now, there is no need to trade in market or at ICBC business office. All trades and management of account can be done at home.
　　3. 交易方式丰富。我行营业网点覆盖面广，您可在不同网点进行债券买卖，而且现已开通网上交易和电话交易方式，您无须去交易市场和银行营业网点，足不出户即可办理所有记账式国债的交易业务及债券账户的管理。

☆ Service Channel
At ICBC business office, through Internet Banking or Telephone Banking, to save your time, ICBC recommend to trade through Internet Banking or Telephone Banking.
　　☆ 服务渠道
　　您在营业网点、网上银行和电话银行均可办理记账式国债买卖，为了节省您的宝贵时间，工行建议您通过网上银行和电话银行办理。