September 22, 2022
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||2.032||▼ 1.1||0.0||▼ 32.6|
|5 Year||2.430||▲ 1.3||▼ 0.9||▼ 15.3|
|10 Year||2.650||▲ 0.6||▼ 1.3||▼ 12.9|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|CNY per USD||7.078||▼ 0.4||▼ 1.2||▼ 11.4|
|CNY per JPY||0.050||▼ 1.6||▼ 2.0||▲ 10.0|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|No data available for this market|
|Policy Rates||Latest Rate
Lending Facility Rate
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
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|
Between 15 June and 15 August, local currency government bond yields in the People’s Republic of China (PRC) fell for all tenors. Bond yields fell the most for the 1-year through the 7-year tenors, declining an average of 20 basis points and for the 10-year tenor, which fell 16 basis points. The PRC was the sole market in the region whose entire yield curve declined, driven by economic weakness in the domestic economy.
The local currency bond market grew to a size of CNY123.1 trillion (USD18.4 trillion) at the end of June. Overall growth slightly rose to 3.5% quarter-on-quarter (q-o-q) in the second quarter of 2022 from 3.3% q-o-q in the first quarter (Q1) of 2022. Total government bonds outstanding reached CNY79.7 trillion, following an acceleration in growth to 4.3% q-o-q in the second quarter of 2022 from 2.7% q-o-q in Q1 2022 on increased local government bond issuance following the need to completely utilize the special bond quotas Corporate bonds outstanding reached CNY43.3 trillion at the end of June, with growth slowing to 2.0% q-o-q from 4.2% q-o-q in Q1 2022.
In May, the Government of the PRC announced a package of 33 stimulus measures meant to shore up the domestic economy and provide support to companies in the wake of quarantine measures meant to contain the coronavirus disease (COVID-19). The measures include an expansion of companies covered by a value-added tax rebate, deferral on payments of social security premiums, an expansion of tax relief measures, a deferral of contributions to the housing provident fund, and boosted infrastructure spending, among others.
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