China Sees over 5.9 Trillion Yuan in Bond Issues in March


China saw more than 5.9 trillion yuan in bond issues in the month of March, according to the latest data from the People’s Bank of China (PBOC).

In March approximately 5.94518 trillion yuan in bonds were issued on the Chinese bond market, including 630 billion yuan in Chinese treasury bonds and 618.67 billion yuan in local government bonds, according to figures released by PBOC on 26 April.

March also saw the issuance of 887.28 billion yuan in finance bonds, 1.38544 trillion yuan in corporate credit grade bonds, 45.16 billion yuan in credit asset-backed securities and 2.32068 trillion yuan in interbank certificates of deposit.

As of the end of March the bond market custody balance was 137.8 trillion yuan, including a treasury bond custody balance of 22.5 trillion yuan, a local government bond custody balance of 31.9 trillion yuan and a finance bond custody balance of 32.2 trillion yuan.

The corporate credit grade bond custody balance was 31.8 trillion yuan, while the credit asset-backed security custody balance was 2.6 trillion yuan, and the interbank certificate of deposit custody balance was 14.7 trillion yuan.

Offshore institutions had a custody balance of 4 trillion yuan at the end of March, accounting for 2.9% of the interbank bond market custody balance. Offshore institutions also held 2.4 trillion yuan in treasury bonds, accounting for 62.7% of their total holdings; and 1.0 trillion yuan in policy finance bonds, accounting for a 26.1% share.