January 22, 2021
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||2.640||▼ 0.5||▼ 1.7||▼ 7.0|
|5 Year||2.914||▼ 0.6||▼ 3.4||▼ 2.6|
|10 Year||3.126||▼ 1.8||▼ 2.2||▼ 2.0|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|CNY per USD||6.482||▼ 0.3||▼ 0.0||▲ 0.7|
|CNY per JPY||0.062||▼ 0.0||▼ 0.1||▲ 1.2|
* 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|
The People's Republic of China's (PRC) yield curve for local currency (LCY) bonds shifted upward between 31 August and 30 October. The largest shift in yields was seen in the 3-month tenor, which rose 43 basis points (bps). The 2-year tenor rose 33 bps, while the 1-year tenor rose 22 bps. The 2-year versus 10-year yield spread narrowed from 50 bps to 34 bps between 31 August and 30 October. The PRC's yields rose as its economy continued to grow, following the successful containment of its coronavirus disease outbreak.
LCY bonds outstanding in the PRC rose 5.4% quarter-on quarter (q-o-q) in Q3 2020, after expanding 5.6% q-o-q in Q2 2020, to reach CNY98.2 trillion (USD14.5 trillion) at the end of September. On a y-o-y basis, LCY bonds outstanding grew 19.9% y-o-y. The PRC's government bond market's growth accelerated in Q3 2020 to 6.6% q-o-q from 5.4% q-o-q in Q2 2020 as the central government continued to fund its fiscal stimulus programs. The PRC's corporate bond market's growth slowed to 3.2% q-o-q in Q3 2020 from 5.9% q-o-q in Q2 2020.
In September, the PRC streamlined the existing regulations for the Renminbi Qualified Foreign Institutional Investor program and the Qualified Foreign Institutional Investor program. The new rules combined the two existing regulations into one and also made application requirements easier and simplified procedures.
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