The latest data from the Chinese central bank points to over USD$900 billion in debt security issues in the month of April.
The Chinese debt market saw the issuance of 5.8 trillion yuan (approx. $910 billion) in various types of debt instruments in April, including:
- 495.8 billion yuan in governments;
- 775.82 billion yuan in local government bonds;
- 896.28 billion yuan in financial bonds;
- 1.4 trillion yuan in corporate credit bonds;
- 77.65 billion yuan in asset-backed securities;
- 2.1 trillion yuan in interbank certificates of deposit.
As of the end of April the Chinese bond market’s custody balance was 121.1 trillion yuan.
In April the interbank bond market spot transaction volume was 17.1 trillion yuan, for average daily transactions of 777.61 billion yuan, and a YoY decline of 32.79%, as well as an on-month decline of 6.01%.
Bond market spot transactions on exchanges were 1.9 trillion yuan, for average daily transactions of 89.89 billion yuan, and a YoY decline of 5.6%, as well as an on-month rise of 5.06%.
As of the end of April the interbank bond index stood at 206.4 points, for an increase of 0.9 points compared to the preceding month.
The interbank money market saw 95.5 trillion yuan in transactions in April, for a YoY decline of 22.19%, and an on-month decline of 5.25%.
In April the monthly weighted average interest rate for interbank lending was 2.01%, holding steady with the previous month. The monthly weighted average interest rate for pledged repos was 1.96%, for a decline of five basis points compared to the previous month.