Non-financial enterprise debt financing instruments (hereinafter referred to as "debt financing instruments") are negotiable securities issued in the interbank bond market by non-financial enterprises with legal person status, which are registered and approved by the National Association of Financial Market Institutional Investors (NAFMII). These securities specify the repayment of principal and interest within a set period. Current types include commercial paper (CP), medium-term notes (MTN), SME collective notes (SMECN), and ultra-short-term financing bonds (SCP).

　　Debt financing instruments are an excellent option for high-quality enterprises to achieve public market financing, characterized by a high level of marketization, flexible and autonomous financing solutions, lower financing costs, and favorable impacts on enhancing corporate image and brand.