The Central Bank of the Republic of China published September statistics for the bond market, money market, commercial bills and equity markets. The release shows total bond issuance of CNY 8.1 trillion in September and an outstanding bond custody balance of CNY 193.1 trillion at end-September, with foreign institutions holding CNY 3.8 trillion, equal to 2.0% of the total. Issuance included CNY 1.49 trillion of government bonds, CNY 0.85 trillion of local government bonds, CNY 1.17 trillion of financial bonds, CNY 1.34 trillion of corporate credit bonds, CNY 36.6 billion of credit asset-backed securities and CNY 3.16 trillion of negotiable certificates of deposit (NCDs). Custody at end-September was split between the interbank market (CNY 170.5 trillion) and exchange markets (CNY 22.6 trillion), with balances of CNY 39.2 trillion in government bonds, CNY 53.5 trillion in local government bonds, CNY 44.1 trillion in financial bonds, CNY 34.2 trillion in corporate credit bonds, CNY 1.0 trillion in credit ABS and CNY 20.0 trillion in NCDs, plus CNY 233.6 billion held via commercial bank counters. Interbank cash bond trading totalled CNY 32.7 trillion (daily average CNY 1.4 trillion), while exchange cash bond trading totalled CNY 4.8 trillion (daily average CNY 216.0 billion) and commercial bank counter trading recorded 103,000 transactions worth CNY 69.5 billion. Foreign holdings were concentrated in government bonds (CNY 2.0 trillion), NCDs (CNY 0.9 trillion) and policy bank bonds (CNY 0.8 trillion). In money markets, interbank lending turnover reached CNY 9.3 trillion and bond repo turnover CNY 159.0 trillion, with weighted average interbank lending and pledged repo rates at 1.45% and 1.46% respectively. The update also reported commercial bill acceptance of CNY 3.5 trillion and discounting of CNY 2.6 trillion, month-end balances of CNY 20.1 trillion (acceptance) and CNY 15.5 trillion (discounting), and bondholder concentration metrics for interbank corporate credit bonds including a top-50 holding share of 53.3% and top-200 holding share of 84.0%.
Central Bank of the Republic of China 2025-10-31
Central Bank of the Republic of China releases September bond and money market data with CNY 8.1 trillion issuance and foreign holdings at 2.0%
The Central Bank of the Republic of China reported September bond, money, commercial bills, and equity market statistics, with total bond issuance at CNY 8.1 trillion and an outstanding custody balance of CNY 193.1 trillion. Foreign institutions held CNY 3.8 trillion, or 2.0%, mainly in government bonds, negotiable certificates of deposit, and policy bank bonds. Interbank lending turnover was CNY 9.3 trillion, and bond repo turnover was CNY 159.0 trillion, with average interbank lending and pledged repo rates at 1.45% and 1.46%.