Chinese Central Bank Releases Financial Markets Report for June 2021

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The People’s Bank of China (PBOC) has just released its latest report on the state of the Chinese financial markets for the month of June 2021.

According to the report the Chinese bond market saw 4.9 trillion yuan in issues in June, including:

  • 476.41 billion yuan in government bonds.
  • 794.87 billion yuan in local government bonds.
  • 906.71 billion yuan in financial bonds.
  • 1.14959 trillion yuan in corporate credit grade bonds.
  • 31.31 billion yuan in loan asset-backed securities.
  • 1.5 trillion yuan in interbank certificates of deposit.

As of the end of June the bond market custodianship balance was 123.6 trillion yuan, including;

  • 20.7 trillion yuan in government bonds.
  • 27.4 trillion yuan in local government bonds.
  • 29.4 trillion yuan in financial bonds.
  • 29.3 trillion yuan in corporate credit grade bonds.
  • 2.3 trillion yuan in loan asset-backed securities.
  • 12.4 trillion yuan in interbank CD’s.

In June the interbank money market transaction volume was 97.1 trillion yuan, for a YoY decline of 6.6%, and an on-month increase of 15%.

This included:

  • 87.2 trillion yuan in pledged repo transactions, for a YoY increase of 11.6%, and an on-month increase of 16.3%.
  • 332.48 billion yuan in buyout repo transactions, for a YoY reduction of 48.0% and an on-month increase of 8.3%.
  • 9.6 trillion yuan in interbank loans, for a YoY decline of 21.9%, and an on-month increase of 4.7%.
  • 29.4 trillion yuan in exchange-standard security repo transactions, for a YoY increase of 26.1%, and an on-month increase of 21.0%.

In June the interbank loan weighted average interest rate was 2.13%, for an on-month rise of 4 basis points. The interbank pledged repo weighted average interest rate was 2.17%, for an on-month rise of 11 basis points.

Interbank bond market spot transactions totalled 18.5 trillion yuan in June, for a daily average transaction volume of 882.26 billion yuan, and a YoY reduction of 21.1%, as well as an on-month increase of 6.7%.

Exchange bond market spot transactions were 2.2 trillion yuan for a daily average transaction volume of 102.8 billion yuan, a YoY increase of 49.3% and an on-month reduction of 18.3%.

As of the end of June the interbank bond index stood at 208.0 points, for an on-month rise of 0.4 points.

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