May 16, 2022
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||2.253||▼ 0.8||▼ 4.9||▼ 10.5|
|5 Year||2.572||0.0||▼ 2.4||▼ 1.1|
|10 Year||2.823||▲ 0.4||▲ 0.5||▲ 4.4|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|CNY per USD||6.786||▲ 0.0||▼ 0.8||▼ 6.8|
|CNY per JPY||0.053||▼ 0.0||▼ 1.7||▲ 4.9|
* 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|
Local currency (LCY) bonds outstanding in the People’s Republic of China (PRC) grew 3.9% quarter-on-quarter (q-o-q) in the fourth quarter (Q4) of 2021 to reach CNY115.1 trillion (USD18.1 trillion). The q-o-q growth in bonds outstanding was roughly stable as the government continued borrowing to help arrest a slowdown in the PRC’s economy. Local governments saw an increase in the growth rate of their bonds outstanding to 5.8% q-o-q in Q4 2021 from 4.9% q-o-q in the previous quarter. The accelerated pace of expansion was driven by efforts to complete their full-year bond quotas. The PRC’s LCY bonds outstanding rose 13.6% year-on-year (y-o-y) in Q4 2021, up from 12.8% y-o-y in the third quarter of 2021.
Total LCY corporate bond issuance in the PRC grew 3.9% q-o-q to CNY5.2 trillion in 2021. On a y-o-y basis, LCY corporate bond issuance grew 13.9%. A number of financial institutions issued long-term bonds and perpetual bonds as part of their capital-raising efforts in Q4 2021. China State Railways was the largest corporate bond issuer during the quarter, with issuance amounting to CNY100 billion.
On 6 December, the People’s Bank of China reduced the reserve requirement ratio of financial institutions by 50 basis points, effective 15 December. The central bank estimates that the move will reduce the average reserve requirement ratio of financial institutions to 8.4%.
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