China Sees Issuance of $680 Billion in Bonds in April, 42.23% Rise in Interbank Money Market Transactions

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The latest raft of official data points to a sharp year-on-year rise in China’s interbank money market transactions in April, alongside copious issuance of bonds on the domestic market.

Data released by the Chinese central bank on 18 May indicates that China’s domestic bond market saw the issuance of 4.8 trillion yuan (approx. USD$680 million) in debt instruments in April, with the Chinese bond market’s escrow balance standing at 104.6 trillion yuan as of the end of April.

Interbank money market transactions totalled 122.7 trillion yuan in April, for a YoY rise of 42.23% and an on-month rise of 14.30%.

The interbank monthly weighed average interest rate was 1.11% in April, for a decline of 29 basis points compared to the previous month, while the pledged repo monthly weighted average interest rate was also 1.11%, for a decline of 33 basis points.

The interbank bond market saw spot transactions worth 25.5 trillion yuan in April, for a daily average transaction volume of 1.16 trillion yuan, and a YoY rise of 44.83%, as well as an on-month rise of 4.20%.

Exchange bond market spot transactions totalled 2.0 trillion yuan in April, for a daily average transaction volume of 95.22 billion yuan, and a YoY rise of 166.29%, as well as an on-month rise of 8.3%.

As of the end of April China’s Interbank Bond Index stood at 205.74 points, for a rise of 2.80 points compared to the end of the preceding month.

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