3.6 Trillion Yuan in Chinese Bonds Issued in May, 304.3 Billion Local Government Bonds


China’s financial regulators have released a new raft of data on domestic bond issuance for the month of May.

Data from the People’s Bank of China (PBOC) released on 18 June indicates that 3.6 trillion yuan in bonds of various categories were issued in May, including:

  • 395.32 billion yuan in sovereign bonds;
  • 304.32 billion yuan in local government bonds;
  • 488.05 billion yuan in financial bonds;
  • 488.86 billion yuan in corporate credit bonds;
  • 72.04 billion yuan in asset-backed securities;
  • 1.8 trillion yuan in interbank certificates of deposit.

As of the end of May China’s bond market escrow balance stood at 91.1 billion yuan.

Data from the Ministry of Finance further indicates that out of the 304.3 billion yuan in local government bonds issued in May 146.4 billion yuan were normal bonds while 157.9 billion yuan were special bonds.

During the period from January to May a total of 1.9376 trillion yuan in local government bonds were issued, including 968 billion yuan in normal bonds and 969.6 billion yuan in special bonds.

As of the end of May the local government debt balance in China stood at 19.8953 trillion yuan, within the threshold approved by the National People’s Congress.

This amount included 11.671 trillion yuan in normal debt and 8.2243 trillion yuan in special debt.