People's Republic of China
Market Watch
| Close of April 22, 2019 |
Change From | |||
|---|---|---|---|---|
| Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
| 2 Year | 2.910 | ▲ 1.0 | ▼ 3.5 | ▲ 14.8 |
| 5 Year | 3.229 | 0.0 | ▼ 0.1 | ▲ 19.1 |
| 10 Year | 3.412 | ▲ 3.3 | ▲ 4.0 | ▲ 10.2 |
|
* Government bond yield changes are expressed in basis points. |
||||
| Currencies | Latest Rate | Previous Day | Previous Week | YTD |
| CNY per USD | 6.712 | ▼ 0.1 | ▼ 0.1 | ▲ 2.4 |
| CNY per JPY | 0.060 | ▼ 0.1 | ▼ 0.1 | ▲ 4.4 |
|
* 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
| Change From | ||||
|---|---|---|---|---|
| Policy Rates | Latest Rate (23-Oct-2015) |
Previous Rate (25-Aug-2015) |
YTD Rate |
|
| 1-Year Deposit Rate | 1.500 | ▼ 25.0 | 0.0 | |
| 1-Year Lending Rate | 4.350 | ▼ 25.0 | 0.0 | |
|
* Policy rate changes are expressed in basis point change. |
||||
Sovereign Ratings
| Agency | Rating | Outlook | Date | |
|---|---|---|---|---|
| Regional Rating Institutions | ||||
| R&I | A+ | stable | 2013-01-23 | |
| RAM | AA3 | stable | 2017-03-31 | |
| Non-Regional Rating Institutions | ||||
| Fitch | A+ | stable | 2013-10-15 | |
| S&P | A+ | stable | 2017-09-21 | |
NEWS HIGHLIGHTS
- How's China's Opening to the Financial Sector Going?
- China's central bank continues to skip open market operations
- Economic Watch: Reserve requirement ratio cuts to boost China's real economy
- China Is Hunting for Foreign Buyers for Its Sovereign Debt
- Foreign Buying of Chinese Bond Surges Second-Most on Record
- Size of LCY Bond Market
- Size of LCY Bond Market in % of GDP
- Monthly Bonds Outstanding in USD
- FCY Bonds Outstanding
- Breakdown of LCY Bond Market Issuance
- G3 Currency Bond Issuance
- Government Securities Maturity Profile - LCY
- Corporate Securities Maturity Profile - LCY
- Investor Profile - Government Bonds
- Foreign Holdings in LCY Government Bonds
- Trading Volume
- Bonds Turnover Ratio
- Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
- Yield Volatility - 10yr LCY Bonds
- Credit Spread - LCY Corp. Bonds vs Govt. Bonds
- iBoxx ABF Index Family
- Bid-Ask Spreads (Survey data)
- Government Bond Market Structural Issues
- Corporate Bond Market Structural Issues
ASEAN+3 Bond Market Guide
ASEAN+3 Bond Market Guide 2012: People's Republic of China
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).
Download Report
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Market Summary
Size and Composition
Local currency bonds outstanding in the People’s Republic of China grew 2.9% quarter-on-quarter (q-o-q) and 14.3% year-on-year (y-o-y) to reach CNY65.0 trillion (USD9.5 trillion) at the end of December. Growth mostly came from a rise in corporate bonds, which grew 5.3% q-o-q and 14.6% y-o-y. In contrast, government bond growth in the fourth quarter of 2018 slowed to 2.1% q-o-q from 6.3% q-o-q in the previous quarter as local governments substantially met their issuance targets for special bonds by the end of September.
Corporate Bond Issuance
Total corporate bond issuance in the fourth quarter of 2018 reached CNY2.2 trillion, up 11.9% q-o-q as market sentiment improved over expectations that the United States Federal Reserve would become more dovish.
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