Top stories of China bond market on Nov. 16 as follows:
1. China has sold around 3.396 trillion yuan worth of local government bonds so far this year, according to data from Wind Info. Previously, China's Ministry of Finance (MOF) gave local governments 3.2 trillion yuan quota to replace their existing debts with new bonds this year. In addition, new local government bonds worth 600 billion yuan in 2015 were also approved. Hence, the total scale of local government bonds issuance came up to around 3.8 trillion yuan this year.
2. Chinese financial institutions' new yuan funds outstanding for foreign exchange last month reversed a dropping trend in the previous four months, data released Sunday showed. At the end of October, the new yuan funds for foreign exchange rose 12.9 billion yuan (2.03 billion U.S. dollars) from a month earlier, according to data released by the People's Bank of China, China's central bank. The funds are an important indicator for foreign capital flow in and out of China as well as domestic yuan liquidity.
Latest comments