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Bond value surges 170%
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THE value of bonds issued on the Chinese mainland surged 170 percent in November from the same month of last year as authorities eased controls on their issues while lower yields prompted companies to turn to the debt market for funding.
Last month saw 2.7 trillion yuan (US$417 billion) worth of bonds issued, the People’s Bank of China said in a statement yesterday.
On a year-on-year basis, the value of bonds issued in the January-November period grew 81.6 percent.
Domestic rating agency CCXI said the National Development and Reform Commission’s move to relax curbs on bond issuance for high-quality companies could see more bonds issued.
It also said the coupon of new bonds remained low due to ongoing accommodating monetary policies.
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