China: bonds

Issuance of Chinese US dollar-denominated bonds reached USD 11.5bn in 2010. During the first three quarters of 2011 flow of global bonds from China totaled USD 15.6bn. Issuance of dim sum bonds (or offshore renminbi bonds) reached CNY 100bn (USD 15.6bn) by mid-September.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
CNY 276 7 773 274 000 000
USD 2 200 000 000
GBP 1 9 250 000 000
municipal
CNY 630 3 985 215 900 000
USD 1 300 000 000
corporate
CNY 3825 12 005 431 023 650
USD 678 375 923 854 250
HKD 143 78 093 000 000
EUR 40 23 115 000 000
JPY 6 130 000 000 000
CHF 5 1 020 000 000
SGD 5 1 465 000 000
AUD 2 350 000 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Credit *** International scale rating (foreign curr.) ***
Dagong Credit *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Rating-Agentur Expert RA *** Rating scale of the creditworthiness of sovereign governments (SGC) -National currency ***
Rating-Agentur Expert RA *** Rating scale of the creditworthiness of sovereign governments (SGC) - Foreign currency ***
Rating-Agentur Expert RA *** Rating scale of the country credit environment (CCE) rating - National currency ***
Rating-Agentur Expert RA *** Rating scale of the country credit environment (CCE) rating - Foreign currency ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
Rating Agency RAEX (Expert RA) *** Foriegn curr. scale ***
Rating Agency RAEX (Expert RA) *** Local curr. scale ***
National Rating Agency *** Global scale ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
MCC Group (China Metallurgical), 2.95% 31may2020, USD - International bonds XS1620297462 2.95% 500 000 000  USD 05/22/2017 05/31/2020
Hong Seng, 7.875% 31may2020, USD - International bonds XS1610987445 7.875% 250 000 000  USD 05/22/2017 05/31/2020
BOC Aviation, 3% 23may2022, USD - International bonds XS1616339336 3% 500 000 000  USD 05/17/2017 05/23/2022
Sinochem, 3.124% 24may2022, USD - International bonds XS1619012450 3.124% 300 000 000  USD 05/17/2017 05/24/2022
China North Industries Group, 3.2% 23may2020, USD - International bonds HK0000337425 3.2% 200 000 000  USD 05/16/2017 05/23/2020
Logan Property Holdings, 5.25% 23feb2023, USD - International bonds XS1618597535 5.25% 450 000 000  USD 05/16/2017 02/23/2023
Evergreen Holding Group, 3.85% 16may2018, USD - International bonds XS1613691796 3.85% 320 000 000  USD 05/12/2017 05/16/2018
Skyfame Realty, 0.1% 14nov2033, HKD - International bonds XS1558627342 0.1% 850 000 000  HKD 05/12/2017 11/14/2033
Huachen Energy, 6.625% 18may2020, USD - International bonds XS1593171967 6.625% 500 000 000  USD 05/11/2017 05/18/2020
Ping An Insurance, 3.8% 12may2022, HKD - International bonds XS1611439289 3.8% 1 500 000 000  HKD 05/05/2017 05/12/2022

Cbonds Bond Market Indices

Daily indices

Type: 05/22/2017 05/19/2017 05/18/2017 05/17/2017 05/16/2017 05/15/2017 05/12/2017
Euro-Cbonds Corporate EM (CNY)
Euro-Cbonds Corporate EM (CNY)  132.77 132.70 132.70 132.66 132.64 132.61 132.54
Euro-Cbonds Corporate EM (CNY) PI 108.80 108.79 108.80 108.78 108.78 108.77 108.76
Euro-Cbonds Corporate EM (CNY) D 847.00 850.00 851.00 851.00 852.00 854.00 855.00
Euro-Cbonds Corporate EM (CNY) YTM 4.85 4.85 4.85 4.85 4.85 4.86 4.86
Euro-Cbonds Corporate EM (CNY) YTM eff 4.90 4.91 4.90 4.91 4.91 4.92 4.92
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World Bond market statistics

Quarterly indices

Type IV 2016 III 2016 II 2016 I 2016 IV 2015 III 2015 II 2015
BIS volume of international-bond market of emerging countries
Chinese international bonds, USD bln 131.800 124.700 112.300 97.000 92.400 84.500 79.000
BIS net issues of international-bond market of emerging countries
International-bond net issue of China, USD bln 8.400 12.500 16.200 4.300 8.600 6.700 2.500

Emerging Markets International Bonds

Monthly indices

Type Apr 2017 Mar 2017 Feb 2017 Jan 2017 Dec 2016 Nov 2016 Oct 2016
Asian International Bonds Markets
China’s international bonds, USD bln 433.894 423.403 412.327 410.389 401.833 395.537 381.442
China’s corporate international bonds, USD bln 420.105 409.608 398.779 396.862 387.141 382.041 367.757
China’s sovereign international bonds, USD bln 13.489 13.495 13.248 13.227 14.391 13.196 13.385
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Money market

Daily indices

Type: 05/22/2017 05/19/2017 05/18/2017 05/17/2017 05/16/2017 05/15/2017 05/12/2017
IRS CNY (Annual Fixed vs 3M Shibor) 
IRS CNY 6M vs 3M Shibor mid * * * * * * *
IRS CNY 9M vs 3M Shibor mid * * * * * * *
IRS CNY 1Y vs 3M Shibor mid * * * * * * *
IRS CNY 2Y vs 3M Shibor mid * * * * * * *
IRS CNY 3Y vs 3M Shibor mid * * * * * * *
IRS CNY 4Y vs 3M Shibor mid * * * * * * *
IRS CNY 5Y vs 3M Shibor mid * * * * * * *
IRS CNY 7Y vs 3M Shibor mid * * * * * * *
IRS CNY 10Y vs 3M Shibor mid * * * * * * *
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Credit Risk Indicators

Daily indices

Type: 05/22/2017 05/19/2017 05/18/2017 05/17/2017 05/16/2017 05/15/2017 05/12/2017
CDS Interactive Data 
CDS 6M China * * * * * * *
CDS 1Y China * * * * * * *
CDS 2Y China * * * * * * *
CDS 3Y China * * * * * * *
CDS 4Y China * * * * * * *
CDS 5Y China * * * * * * *
CDS 7Y China * * * * * * *
CDS 10Y China * * * * * * *
CDS 15Y China * * * * * * *
CDS 20Y China * * * * * * *
CDS 30Y China * * * * * * *
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Risk Management Institute

Daily indices

Type: 05/22/2017 05/19/2017 05/18/2017 05/17/2017 05/16/2017 05/15/2017 05/12/2017
RMI CVI - Asia
China CVI value weighted  26.90 26.88 27.01 26.94 26.96 27.26 27.43
China CVI tail  194.88 190.96 190.01 190.41 193.36 198.97 198.34
China CVI equally weighted  60.89 59.99 59.88 59.71 60.05 61.68 61.87
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Stock market (World)

Daily indices

Type: 05/23/2017 05/22/2017 05/19/2017 05/18/2017 05/17/2017 05/16/2017 05/15/2017
Stock market (Asia)
SSE Composite  3 062.00 3 076.00 3 091.00 3 090.00 3 104.00 3 113.00 3 090.00
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JP Morgan

Daily indices

Type: 10/30/2013 10/29/2013 10/28/2013 10/25/2013 10/24/2013 10/23/2013 10/22/2013
EMBI Global (publication was suspended since 30.10.2013) 
EMBI Global China * * * * * * *
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