Central Bank of the Republic of China publishes June market data on bond issuance, trading and foreign holdings

The Central Bank of the Republic of China released June statistics on China’s bond, money, bill and equity markets. Total bond issuance reached CNY 8.79tn in June, while total bond custody outstanding stood at CNY 188.5tn at end-June; overseas institutions held CNY 4.3tn of bonds, equivalent to 2.3% of the total. Issuance included CNY 1.59tn of government bonds, CNY 1.18tn of local government bonds, CNY 1.07tn of financial bonds, CNY 1.43tn of corporate credit bonds, CNY 24.7bn of credit asset-backed securities and CNY 3.46tn of negotiable certificates of deposit. Interbank cash bond trading totalled CNY 34.3tn (daily average CNY 1.7tn), while exchange-traded cash bond turnover was CNY 3.8tn (daily average CNY 190.5bn); commercial bank counter bond trading amounted to 119,000 transactions worth CNY 99.6bn. In money markets, interbank lending turnover was CNY 8.4tn and bond repo turnover was CNY 156.3tn, with weighted average interbank lending and pledged repo rates at 1.46% and 1.50%, respectively. The release also reported June commercial bill acceptances of CNY 3.5tn and discounts of CNY 2.8tn, end-June Shanghai Composite and Shenzhen Component closes of 3,444.4 and 10,465.1, and concentration metrics for interbank corporate credit bonds, including the top 50 investors holding 48.0% of outstanding positions and accounting for 60.0% of trading.