Explanation of all terms in the stock market?

Capital market: Capital market refers to the financial market of securities financing and medium-and long-term capital lending for more than one year. Money market is a financial market that operates short-term financing within one year. Fund demanders raise long-term funds through the capital market and short-term funds through the money market.

Stock: Stock is a stock issued by a joint stock limited company to investors when raising capital, which represents its holder's ownership of the joint stock company. It has the following basic characteristics: non-repayment, participation, profitability (stock is usually the first choice for investment in high inflation period), liquidity, price fluctuation and risk.

Bonds: Bonds are creditor's rights and debt certificates issued to investors when the government, financial institutions, industrial and commercial enterprises and other institutions directly borrow money from the society to raise funds, and promise to pay interest at a certain interest rate and repay the principal according to the agreed conditions. It has the following characteristics: repayment, liquidity, security and profitability.

Convertible securities: a kind of securities that the holder has the right to convert into another kind of securities with different properties, mainly including convertible corporate bonds and convertible preferred shares.

Warrant: Securities issued by the issuer of the index or a third party other than it, which stipulates that the holder has the right to buy or sell the underlying securities from the issuer at an agreed price within a specific period or a specific maturity date, or collect the settlement difference by cash settlement.

Warrant: A security issued by an issuer, which stipulates that the holder has the right to purchase the underlying securities from the issuer at an agreed price within a specific period or a specific maturity date.

Put warrant: a security issued by an issuer, which stipulates that the holder has the right to sell the underlying securities to the issuer at an agreed price within a specific period or a specific maturity date.

Securities investment fund: a fund refers to a way of collective securities investment with returns * * * and risks * * *, that is, by issuing fund shares, investors' funds are pooled, managed by fund custodians, managed and used by fund managers, and invested in financial instruments such as stocks and bonds.

Open-end fund: refers to a fund that the total amount of funds issued is not fixed, and the total amount of fund shares increases or decreases at any time, and investors can purchase or redeem the fund shares in the business premises stipulated by the state according to the fund quotation.

Closed-end fund: refers to a fund whose total issuance amount is determined in advance and the total number of fund shares remains unchanged during the closed period. After the fund is listed, investors can transfer and buy and sell the fund shares through the securities market.

Primary market: refers to the primary market of shares, that is, the issuance market, where investors can subscribe for shares issued by the company.

The full name of IPO is initial public offering, which refers to the way in which a company (joint stock limited company or limited liability company) makes an initial public offering to the public.

Issue price: When a stock is listed and issued, the listed company sets a reasonable price for the listed stock, not the par value, from the perspective of the company's own interests and ensuring the success of the stock listing. This price is called the issue price of the stock.

Premium issuance: refers to the public offering of shares by newly listed companies at a price higher than the face value or the cash capital increase by listed companies at a price higher than the face value.

At discount: It means that the issue price is lower than before.

Secondary market: refers to the circulation market, which is the place where issued stocks are traded.

A shares: The official name of A shares is RMB common stock.

B shares: The official name of B shares is RMB special shares.

H shares: H shares are foreign-funded shares registered in the Mainland and listed in Hong Kong.

S shares: The Shanghai and Shenzhen Stock Exchanges have adjusted the securities abbreviation of A shares at one time since June 9, 2006. Among them, 10 14 G Company canceled the "G" sign and resumed the stock abbreviation before the implementation of the share reform plan; The remaining 276 companies that have not carried out share reform or have carried out share reform but have not yet implemented it are marked with "S" before their abbreviations to remind investors.

ST stock: ST stock refers to the stock listed in Shanghai and Shenzhen stock markets, which has been specially handled by China Securities Regulatory Commission due to operating losses or other abnormal circumstances to remind investors to pay attention.

ST stock: ST stock refers to the stock listed in Shanghai and Shenzhen stock markets, and the stock with the risk of termination of listing will be specially handled by China Securities Regulatory Commission to remind investors.

Blue chip: Blue chip refers to the stocks issued by reputable listed companies, with abundant capital, large share capital and large market value.

Red chips: Red chips are stocks with Chinese mainland concept registered overseas and listed in Hong Kong by Hong Kong and international investors.

Blue-chip stocks: refer to stocks with good performance and surplus in the past few years, which can still be optimistic in the next few years, but there is no possibility of high growth. The prospect of this industry is still good, and the return on investment can also maintain a certain high level.

Junk stock: Junk stock index refers to the stocks of companies with poor performance. Some of these middle and upper-level companies even entered the ranks of losses because of poor industry prospects or poor management. Its stock performance in the market is sluggish, the stock price is sluggish, trading is inactive, and the year-end dividend is poor.

Growth stock: refers to the stocks of newly-added enterprises with high profit growth rate in promising industries. The share price of growth stocks is rising.

Unpopular stocks: refers to stocks with small trading volume, poor liquidity and small price changes.

Leading stock: the leading stock index refers to the stock that has influence and appeal to other stocks in the same industry sector in the stock market speculation in a certain period, and its ups and downs often play a guiding and exemplary role in the ups and downs of other stocks in the same industry sector. The leading stock is not static, and its position can only be maintained for a period of time.

State-owned shares: State-owned shares refer to shares invested by departments or institutions (SASAC) in the company with state-owned assets, including shares converted from the company's existing state-owned assets. It is an integral part of state-owned equity.

Legal person shares: Legal person shares refer to unlisted shares formed by an enterprise as a legal person or a public institution or social organization with legal person qualifications, which invests in the company with its legally disposable assets.

Social public shares: social public shares refer to shares that can be listed and circulated when the public invests their property in the company according to law.

Fundamentals: Fundamentals include macroeconomic operation and basic information of listed companies. Macro-economic operation reflects the overall operating performance of listed companies and sets a background for their further development, so macro-economy is closely related to listed companies and their corresponding stock prices. The fundamentals of listed companies include financial status, profitability, market share, management system and talent composition.

Technical surface: Technical surface refers to the technical indicators, trend patterns and K-line combinations that reflect the change of media. There are three assumptions in technical analysis, that is, market behavior contains all information; Price changes have a certain trend or law; History will repeat itself. Considering that market behavior contains all information, macro-level and policy-level factors can be ignored, and that price changes regularly and history will repeat itself, it is easy to judge the future trend with historical transaction data.

Bull market: Bull market, also known as bull market, refers to a market that is generally bullish and lasts for a long time.

Bear market: Bear market, also known as short market, refers to the general bear market, which lasts for a relatively long time.

Cowhide market: refers to the market price seems to be pegged, such as the tenacity of cowhide, during the trading day under investigation, with little fluctuation and little price change.

Call auction: The so-called call auction is to input the stock price according to the closing price of the previous day and the forecast of the stock market on that day when there is no transaction price on that day. During this period, all the prices entered into the computer mainframe are equal, and it is not necessary to trade according to the principle of time priority and price priority, but to determine the stock price according to the principle of maximum trading volume. This price is called call auction's price, and this process is called call auction.

Continuous bidding: the so-called continuous bidding refers to the entrustment of each declaration and sale.

Zero-share trading: shares smaller than one trading unit (1 lot = 100 shares), such as 1 share and 10 share, are called zero shares. When selling shares, you can entrust zero shares; But when buying stocks, you can't entrust zero shares. The minimum unit is 1 hand, that is, 100 shares.

Price limit: the price limit means that the transaction price of securities shall not exceed 10% relative to the closing price of the previous trading day, except for the securities on the first day of listing; Entrustment exceeding the price limit is invalid.

Limit board: The maximum price limit of the stock price on the trading day in the securities market is called the limit board, and the stock price at the limit board is called the limit board price.

Daily limit: the lowest stock price on the day of securities trading is called daily limit, and the stock price at the time of daily limit is called daily limit.

Custody: under the custody brokerage system, investors entrust these brokers to manage their own shares by subscribing, purchasing and converting at one or more brokers, and can only sell their own securities at these brokers; Brokers provide investors with various business services such as securities purchase, automatic dividend payment, securities and fund inquiry, and transfer custody.

Sub-custody: Sub-custody refers to the so-called sub-custody under the custody brokerage system. If investors want to transfer their custody shares from one brokerage firm to another, they must go through certain procedures to realize the transfer of share entrustment management.

Designated transaction: Designated transaction means that investors can designate a securities business department as the only trading business department for buying and selling securities.

Dividend: the closing price of the stock the day before minus the dividend issued by the listed company is called dividend.

Containment: Any stock that has the right not to deliver is called possession.

Ex-rights: Ex-rights refers to the elimination behavior that needs to be eliminated from the stock market price after the fact that the actual value (net assets per share) of the enterprise represented by each share is reduced due to the increase of the company's share capital.

Right filling: refers to the situation that the stock price rises after ex-rights, and the price difference before and after ex-rights is completely compensated.

Bonus: Bonus refers to a period of time after ex-dividend. If most people are not optimistic about stocks, the trading market price is lower than the ex-dividend benchmark price, that is, the stock price is lower than before ex-dividend.

XR: The name of a security is prefixed with XR, which means that the stock has been ex-entitled, and after purchasing this kind of stock, it will no longer enjoy the dividend right. When the word XR appears in front of the stock name, it means that this day is the ex-dividend date of the stock.

Ex-dividend: Ex-dividend is the elimination of the actual value (net assets per share) of the enterprise represented by each share due to the distribution of dividends by the shareholders of the company. After this fact, this part of factors needs to be removed from the stock market price.

DR: The securities code is marked with DR, which means ex-dividend and ex-dividend. If you buy such stocks, you will no longer enjoy the right to send dividends.

XD: The stock code is marked with XD, which means that the stock is ex-dividend. After buying this stock, you will no longer have the right to pay dividends.

Rights issue: Rights issue is the behavior of listed companies to further issue new shares to existing shareholders and raise funds according to the needs of company development and relevant regulations and procedures.

Dividend distribution: dividend is the return on investment of listed companies to shareholders; Rights issue is the behavior of listed companies to issue new shares to the original shareholders to further raise funds according to the needs of the company's development and relevant regulations and procedures.

Bonus shares: Bonus shares refer to listed companies that keep the profits of this year in the company, and distribute the shares in the form of dividends, so as to convert the profits into equity.

Transfer to share capital: transfer to share capital refers to the company's transfer of capital reserve to share capital. Converting share capital into share capital does not change shareholders' rights and interests, but increases the size of share capital, so the objective result is similar to bonus shares.

Registration date: When a listed company sends shares, distributes shares and pays dividends, it needs to set a date to make clear which shareholders can participate in the dividend or share allotment. The set date is the recorded date.

Shell listing: Shell listing refers to an indirect listing method in which some non-listed companies divest the assets of the acquired company and inject their own assets by acquiring some listed companies with poor performance and weakened financing ability.

Non-tradable shares are not reduced: non-tradable shares can be circulated due to share reform. Non-tradable shares holding less than 5% are called small ones, and those holding more than 5% are called big ones. Non-tradable shares can be circulated and then cashed out, which is called reduction.

Valuation: Stock valuation is a stock investment method and concept that uses certain methods to discover the intrinsic value of stocks, buy undervalued stocks or sell overvalued stocks to obtain investment income.

Value regression: when the stock index or stock price seriously deviates from its intrinsic value, the stock index or stock price drops to its intrinsic value.

Qualified foreign institutional investors.

Qualified domestic institutional investor.

Second, the technical analysis part

K-line: Also known as Japan Line, it originated in Japan. K-line is a columnar line, which consists of shadow lines and entities. The hatched part above the entity is called the upper hatched line and the lower hatched line. Entities are divided into two types: positive line and negative line, also called red (positive) line and black (negative) line. A K-line record is the price change of a stock in a day.

Entity: the difference between the closing price and the opening price of the day. A closing price greater than the opening price is called a positive entity, and a closing price less than the opening price is called a negative entity. Under normal circumstances, the emergence of positive entities means that buying is relatively strong, pushing the stock price up, while the emergence of negative entities means that selling enthusiasm is high, forcing the stock price to fall.

Positive line (red line): the rectangular strip in the middle of the K-line chart is called entity. If the opening price is higher than the closing price, the entity is a positive line or a red line.

Yinxian (black line): the rectangular strip in the middle of the K-line chart is called entity. If the closing price is higher than the opening price, the entity is negative or black.

Upper shadow line: In the K-line diagram, the thin line extending upward from the entity is called upper shadow line. In the positive line, it is the difference between the highest price and the closing price of the day; In the negative line, it is the difference between the highest price of the day and the opening price.

Shadow line: In the K-line diagram, the thin line extending downward from the entity is called shadow line. In the positive line, it is the difference between the opening price and the lowest price of the day; In the negative line, it is the difference between the closing price of the day and the lowest price.

Trend: it is the direction of stock market movement; The trend has three directions: the upward direction; Descending direction and horizontal direction. There are three trends: major trends, minor trends and transient trends.

Trend line: Trend line is a straight line used to measure the direction of price fluctuation, and the trend of stock price can be clearly seen from the direction of trend line. In the upward trend, connect two low points into a straight line and you will get the upward trend line. In the downtrend, the downtrend line is a straight line connected by two high points. The upward trend line plays a supporting role and the downward trend line plays a pressure role, that is, the upward trend line is a supporting line and the downward trend line is a pressure line.

Support line: also known as resistance line. When the stock price falls near a certain price, the stock price stops falling and may even rise, which is caused by many parties buying here. The support line plays a role in preventing the stock price from falling further. This price, which plays a role in preventing the stock price from falling further, is the position of the support line.

Pressure line: also known as resistance line. When the stock price rises to a certain price, the stock price will stop rising or even fall back, which is caused by the empty side throwing it here. The pressure line plays a role in preventing the stock price from continuing to go public. This price, which plays a role in preventing the stock price from rising further, is where the pressure line is located.

Trajectory line: also known as channel line or pipeline line, is a method based on trend line. After the trend line is obtained, the parallel line of this trend line can be made through the first peak and trough, which is the trajectory line. The role of the track is to limit the range of stock price changes, so that it will not become too outrageous. Once an audio track is confirmed, the price of this channel will change. A breakthrough in a straight line above or below will mean a big change.

Deception: the main force or large household uses market psychology to manipulate the trend line, making retail investors make wrong decisions.

Third, the transaction terminology part

Chip: Investors hold a certain number of shares.

Long position: the trading behavior of buying a certain number of stocks at the current price and then selling them at a high price in anticipation of future price increase, which is characterized by buying first and then selling.

Short position: in the case of expected future market decline, sell the stocks at the current price and buy them after the market decline to make a profit. It is characterized by the trading behavior of selling first and then buying.

Lido: various factors and news that are beneficial to bulls and can stimulate stock prices to rise, such as loose monetary policy and accelerated GDP growth.

Negative: factors and information that are beneficial to short positions and can lead to stock price decline, such as interest rate rise, economic recession, company operating losses, etc.

Bull trap: A trap set for bulls, which usually occurs when the index or stock price hit a record high, and quickly broke through the original index area and hit a new high, and then quickly slipped below the previous support level, resulting in a serious quilt for investors who bought at a high level.

Bear trap (short position): It usually happens when the index or stock price falls from a high trading volume to a new low trading volume, resulting in the illusion of a downward breakthrough, which makes panic selling rush out and quickly rebound to the original intensive trading area, and breaks through the original pressure line upward, making the sellers at the low point empty.

Gap and covering: it means that there is no transaction between two adjacent K-lines. Due to the influence of unexpected news or when investors are optimistic or bearish, there is a blank area in the stock price chart, which is the gap; In the trend after the stock price, the gap of the gap is covered, which is called filling the gap.

Rebound: in the stock market, the stock price is in a downward trend, and the adjustment phenomenon that the stock price eventually reverses and rises to a certain price due to the rapid decline of the stock price is called rebound.

Inversion: the stock price moves in the opposite direction to the original trend, which is divided into upward inversion and downward inversion.

Back file: In the stock market, the stock price keeps rising, and finally it reverses and falls back to a certain price because the stock price rises too fast. This adjustment phenomenon is called back file.

Retreat: after the stock index or stock price rises slowly, the trend changes, and when it slowly falls to the previous low point area, it is retracement.

Consolidation: after a period of rapid rise or fall, the stock price changes slightly due to resistance or support and changes hands. The stock price fluctuates within a limited range, generally referring to fluctuations within the range of 5% up and down.

Overbuying: the stock price continues to rise to a certain height, the buyer's power is basically exhausted, and the stock price is about to fall.

Oversold: the stock price continues to fall to a low point, the seller's strength is basically exhausted, and the stock price is about to pick up.

Eating goods: refers to the banker secretly buying stocks at low prices, which is called eating goods.

Shipment: refers to the dealer quietly selling shares at a high price, which is called shipment.

The buyer who was optimistic about the market changed his mind and became a seller.

Defection: The party who originally intended to sell shares changed his mind and became a buyer.

Kill more: It is generally believed that the stock price will go up that day, so there are many people grabbing long hats. But the stock price has not risen sharply, so it can't be sold at a high price. At the end of the transaction, it was actually sold, which led to a sharp drop in the stock price at the close.

Man Cang: My hands are full of stocks. I bought all my money in stocks.

Half position: half stock, half capital.

Short position: There are no stocks on hand, they are all sold out.

Reduce positions: Generally speaking, it is painful to sell stocks that lose money.

Open position: investors start buying bullish stocks.

Make up the position: buy back the stock sold before, maybe buy some more on a stock.

Masukura: The first time you buy a stock is called Jiancang; Continue to buy in the future, increase the position and weigh.

Breakthrough: refers to a price fluctuation of stock price after a period of time.

Bottom: when the stock price continues to fall to a certain price, it will stop falling and rise again, once or several times.

Cutting meat: selling stocks at a low price in order to avoid further losses after buying stocks at a high price.

Chasing high: when the stock price is at an absolute high level, continue to buy stocks.

Forced short: refers to the continuous sharp rise of bulls, forced short stop loss surrender.

Sell off: sell off all stocks at once.

Exit: When the downward trend is formed, it is expected that you will not participate in the operation of stocks for some time to come.

Death: I am optimistic about the stock market prospects. After buying the stock, if the stock price falls, I would rather keep it for a few years and never sell it without making money.

Support: In order to keep the stock price stable, the banker invests money to buy the stocks sold in the market to keep the stock price relatively stable.

Crash: Crash means that a large number of securities are thrown out of the securities market for some negative reasons, which leads to an infinite decline in the price of the securities market. I don't know how far it can stop. This phenomenon of continuous large-scale selling of securities is also called large-scale selling.

Diving: diving refers to a rapid decline in a short period of time; A sharp and rapid decline in the market or a stock in desperation means that the trend has plummeted in a short period of time like a high platform carrying water.

Pull-up: Pull-up is a kind of extreme measure that greatly increases the stock price. Generally, large households pull it and throw it out for huge profits.

Suppress: The crackdown is to use extreme measure to substantially depress the stock price. Usually, after being suppressed, large households buy in large quantities to make huge profits.

Dishwashing: refers to the behavior of large-scale bookmakers in order to reduce the cost and resistance of pulling up, drastically reduce the stock price, recover the stocks sold by retail investors in panic, and then raise the stock price to make profits by using the price difference.

Finishing: WeChat official account Stock Research Institute explained that after the stock price rose or fell rapidly in the stock market, it met the resistance line or support line, and the original upward or downward trend slowed down obviously, starting to jump up and down, with an amplitude of about 15%, which lasted for a while. This phenomenon is called finishing.

Profit-taking disk and lock-in disk: Profit-taking disk generally refers to the part of the stock that can be sold to make money in stock trading. Every stock has a profit disk and a lock disk, which means that the stock you buy is losing money. They influence each other.

Volume shrinkage: They refer to the stock trading volume, which is enlarged or reduced compared with the previous day or some time ago, which is called volume shrinkage.

Stop loss: When the loss of an investment reaches a predetermined amount, it means to cut the position in time to avoid further losses. Its purpose is to limit the loss to a smaller range when the investment goes wrong.

All negative effects: in the stock market, the stock price fell due to various negative news. This trend lasted for a period of time, fell to a certain extent, and the power of bears began to weaken. Investors should no longer be affected by these negative factors, and the stock price began to rebound. This phenomenon is called all negative effects.

Emphasis: that is, the main force is washing dishes. By washing the dishes, we can wash out the profitable dishes and the weak-willed ones, and at the same time raise the market cost of the market, clear the obstacles for the main players and reduce the upward pressure.

Inertia: when it is in an upward trend or a downward trend, its trend will generally continue.

After the stock index or stock price rises to a certain position for a period of time, the trend changes and forms a decline.

Large oscillation: refers to the continuous fluctuation of the stock index or stock price at the highest and lowest points in a short period of time, with an amplitude greater than 5%.

Shock adjustment: buyers and sellers are equal in strength, fluctuating up and down at a certain price, trying to adjust the price to its value and fluctuating around it.

Deviation: Deviation refers to the fact that when a stock or index keeps hitting new lows (highs) while falling or rising, and some technical indicators do not follow the new lows (highs), this situation is called deviation.

Passivation: When the stock moves up (or down) unilaterally, the stock price does not move in the opposite direction after the technical indicators appear dead fork (or gold fork), but is sideways at a high position (or low position), and the indicator lines are sometimes intertwined, like a rope. This condition is called passivation.

Real warehouse: Real warehouse refers to the fact that the main force clearly wants to pull up the stock price, but because some short-term buyers use chart analysis to follow suit or receive gossip about stock purchase, and the main force does not want these people to make money in sedan chairs for nothing, they clearly want to pull up, but deliberately bid down the stock price. Most short-term speculators buy up and don't buy down, or chase up and kill down. When the stock price unexpectedly falls, many short-term followers will lighten their positions and leave the market, which will be shocked by the main force. Some people call it washing dishes.

Lock-in: buying stocks when the stock price is expected to rise, but as a result, the stock price falls, rather than selling stocks, passive, etc.

Yin decline: refers to the situation that the stock price retreats two steps further and falls slowly, such as continuous rain and long-term rain.

Do more kinetic energy: all the conditions to support the stock price rise.

Short position and wait-and-see: it is difficult to operate stocks in the future, that is, wait and see in short positions.

Fourth, the part of market terminology

Opening price: the daily opening price refers to the first transaction price of each trading day, which is the traditional definition of opening price. At present, the China market adopts the way of call auction to generate the opening price.

Closing price: the daily closing price refers to the final transaction price of each trading day. Because the closing price is the standard of the current market and the basis of the opening price of the next trading day, it can be used to predict the future securities market, so investors generally use the closing price as the calculation basis when analyzing the market.

Daily lowest price: refers to the lowest transaction price of the stock on that day.

Daily highest price: refers to the highest transaction price of the stock on that day.

Daily turnover: refers to the total number of shares traded on that day.

Daily turnover: refers to the number of shares traded on that day.

Master hand: master hand is the total turnover (number of hands) of stocks so far.

Spot: Spot refers to the number of lots in a transaction that has just been completed.

Handicap: In stock trading, it refers to the trading information of buying \ \ selling five stocks. Handicap is a common name for observing trading trends in the process of stock market trading.

Inner disk: the transactions entrusted to the buyer are counted as "inner disk", and the sum of the lots sold when the transaction price is the buying price is called inner disk. When the cumulative number of external stocks is far greater than the cumulative number of internal stocks, and the stock price is also rising, it shows that many people are rushing to buy stocks.

Outer disk: the transactions entrusted to the seller are included in the "outer disk", and the sum of the lots sold at the selling price is called the outer disk.

Ratio: the ratio of the total transactions of the day to the latest average transactions. If the volume ratio is greater than 1, it means that the total volume has been enlarged at this time; If the ratio is less than 1, it means that the total transaction volume is shrinking at this time.

Commission ratio: compare the difference between the number of entrusted buyers and sellers and the number of entrusted buyers and sellers.

Turnover rate: Turnover rate refers to the turnover frequency of stocks in the market within a certain period of time and is one of the indicators reflecting the liquidity of stocks. The calculation formula is: turnover rate = (turnover/number of shares in circulation within a certain period) × 100%.

Verb (abbreviation of verb) financial term

P/E ratio (PE): P/E ratio, also known as stock yield or P/E ratio, is the ratio of stock market price to its earnings per share, and the calculation formula is: P/E ratio = current market price per share/after-tax profit per share.

P/B ratio (PB): It is the ratio of the stock market price to the net assets per share, and P/B ratio = the stock market price/net assets per share.

After-tax profit per share: After-tax profit per share is also called earnings per share, which can be calculated by dividing the after-tax profit of the company by the total number of shares of the company.

Market value: that is, the market value of stocks, which can also be said to be the market price of stocks, including the issue price and transaction price of stocks. The market price of stocks is determined by the market. The face value and market value of stocks are often inconsistent.

Macroeconomic terminology of intransitive verbs

Monetary policy: refers to the sum of the policies and measures adopted by the central bank to adjust the money supply and interest rate in order to achieve the established economic goals (stabilizing prices, promoting economic growth, achieving full employment and balance of payments), thus affecting the macro-economy.

Fiscal policy: refers to the guiding principle of fiscal work stipulated by the state according to the political, economic and social development tasks in a certain period, and regulates the total demand through fiscal expenditure and tax policies. Increasing government expenditure can stimulate aggregate demand, thus increasing national income, and vice versa. Taxation is the shrinking force of national income. Therefore, increasing government taxes can curb aggregate demand, thus reducing national income. On the contrary, it will stimulate aggregate demand and increase national income.

Deflation: When the currency in circulation in the market decreases, people's monetary income and purchasing power decrease, which affects the price drop and causes deflation. Long-term monetary tightening will inhibit investment and production, leading to increased unemployment and economic recession.

Inflation: Inflation refers to the economic phenomenon of currency depreciation and price increase caused by the amount of money in circulation exceeding the actual demand.

Consumer price index (CPI): It is an indicator of price changes of commodities and services related to residents' lives, and is usually used as an important indicator to observe the level of inflation.

Producer price index (PPI): The main purpose of PPI is to measure the price changes of various commodities at different production stages. PPI is an indicator to measure the trend and degree of ex-factory price changes of industrial enterprises, an important economic indicator to reflect the price changes in the production field in a certain period, and an important basis for formulating relevant economic policies and national economic accounting.

Rediscount rate: Commercial banks sell bills to the central bank before they expire and get loans from the central bank, which is called rediscount. The interest rate charged by the central bank for discounted loans from commercial banks is called rediscount rate.

Open market business: refers to the activities of the central bank to regulate the money supply by buying and selling securities and handling the base currency.

Statutory deposit reserve ratio: it is the ratio between the reserves of commercial banks and the deposits absorbed by commercial banks as stipulated by law. The deposits absorbed by commercial banks cannot be fully lent out, and a part must be reserved as a reserve for depositors to withdraw at any time according to the legal proportion.