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Close of September 21, 2023 |
Change From | |||
---|---|---|---|---|
Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
2 Year | 2.244 | ▼ 1.5 | ▲ 3.5 | ▼ 9.5 |
5 Year | 2.503 | ▼ 1.6 | ▲ 4.9 | ▼ 12.2 |
10 Year | 2.676 | ▼ 0.7 | ▲ 4.2 | ▼ 16.3 |
* Government bond yield changes are expressed in basis points. |
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Currencies | Latest Rate | Previous Day | Previous Week | YTD |
CNY per USD | 7.307 | ▼ 0.3 | ▼ 0.4 | ▼ 5.9 |
CNY per JPY | 0.050 | ▼ 0.8 | ▼ 0.3 | ▲ 5.9 |
* Exchange rate changes are expressed as a percentage change. |
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Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
3M | 1.854 | 0.0 | ▲ 18.8 | ▼ 28.0 |
* Interest rate changes are expressed in basis point change. |
Change From | ||||
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Policy Rates | Latest Rate (15-Sep-2022) |
Previous Rate (15-Aug-2022) |
YTD Rate |
|
1-year Medium-term Lending Facility Rate |
2.750 | 0.0 | 0.0 | |
* Policy rate changes are expressed in basis point change. |
Agency | Rating | Outlook | Date | |
---|---|---|---|---|
Regional Rating Institutions | ||||
R&I | AA- | stable | 2019-12-25 | |
RAM | AA3 | stable | 2019-07-18 | |
Non-Regional Rating Institutions | ||||
Fitch | A+ | stable | 2019-11-19 | |
S&P | A+ | stable | 2019-09-30 | |
NEWS HIGHLIGHTS
Read full index for News and Commentary
BOND ISSUANCES
Published by the ASEAN+3 Bond Market Forum (ABMF) in collaboration with the ADB as its secretariat, the two-volume guide contains detailed information on bond market infrastructure; transaction flows, including information on matching, settlement cycles, and numbering; and the regulatory framework and market practices in the Peoples's Republic of China (PRC). View Report
* Download previous issues PDF | ||||
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Between 1 June and 31 August, local currency (LCY) government bond yields in the People’s Republic of China (PRC) declined for most maturities after a series of interest rate cuts intended to spur economic growth. The People’s Bank of China (PBOC) reduced the 7-day reverse repo rate by 10 basis points (bps) to 1.90% on 13 June, which was followed by a 10 bps reduction of the 1-year medium-term lending facility rate to 2.65% on 15 June. On 20 June, the PBOC reduced the 1-year loan prime rate and the 5-year loan prime rate by 10 bps each to 3.55% and 4.20%, respectively. On 15 August, the PBOC reduced again the 1-year medium-term lending rate by 15 bps to 2.50% and the 7-day reverse repo rate by 10 bps to 1.80%. It also reduced by 10 bps the 1-year loan prime rate to 3.45% on 21 August.
The PRC’s LCY bonds outstanding grew at a slightly slower pace as the government maintained its issuance levels in the second quarter of 2023 to provide economic support. LCY bonds outstanding in the PRC grew 2.0% quarter-on-quarter (q-o-q) to CNY132.9 trillion at the end of the second quarter of 2023. Government bonds outstanding grew 2.4% q-o-q to CNY87.9 trillion, with growth largely driven by local government bonds as local governments continued to issue to meet their targeted bond quotas by the end of the third quarter of 2023. Corporate bonds outstanding grew 1.2% q-o-q to CNY44.9 trillion.
On 20 July, the People’s Bank of China, together withthe State Administration of Foreign Exchange, raised the macroprudential adjustment parameter from 1.25 to 1.50 for cross-border financing. The macroprudential adjustment parameter forms part of the calculation that determines the maximum amount of cross-border financing that enterprises and financial institutions can have outstanding.
Title | Source | Date |
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Country Garden Raises US$750 Million Bonds | FinanceAsia | 2103-09-26 |
BONDS: Greentown pays premium to build war-chest | IFRAsia | 2103-09-17 |
BONDS: Ping An Insurance hires pair for roadshow | IFRAsia | 2103-09-16 |
China Is Taking More Visible Measures to Slow Currency’s Descent | Bloomberg | 2022-09-06 |
China Begins Euro Bond Sale After Strong Dollar Debt Offering | Bloomberg | 2021-11-10 |
Title | Source | Date |