BEIJING: The value of bonds issued in China in January surged more than 117 percent from a year earlier to 2.1 trillion yuan (US$321 billion), the central bank said yesterday.
Of the bonds issued, 1.8 trillion yuan’s worth were issued through the interbank bond market, up 109.9 percent year on year, according to the People’s Bank of China.
By the end of January, the total balance of the bond market was 48.8 trillion yuan.
The surge in bond issues suggested it was becoming easier for Chinese firms to find affordable financing. Financing costs for companies through bonds have been sharply reduced since 2014, according to the PBOC.
The PBOC said on Wednesday that China will introduce more qualified foreign institutional investors into the interbank bond market with streamlined regulations and no quota restrictions as part of wider financial market opening.
