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China's bond market sees steady growth in 2024, reaching $10.94 trillion

China's bond market sees steady growth in 2024, reaching $10.94 trillion
2 Feb 2025 10:07

BEIJING (WAM)

China's bond market experienced steady growth in 2024, marked by stable progress in opening up to foreign investors and a more diversified investor base.

A report issued by the People's Bank of China (the central bank) on Saturday revealed that China issued bonds totalling 79.3 trillion yuan (approximately $10.94 trillion) last year, an 11.7 percent year-on-year increase.

This comprised 70.4 trillion yuan in the interbank market and 8.9 trillion yuan in the exchange market.

Additionally, the volume of treasury bonds amounted to 12.4 trillion yuan last year, while the volume of local government bonds reached 9.8 trillion yuan.

Regarding opening up to foreign markets, the report showed that China's bond market became more stable and organised, with the balance of foreign institutional holdings in the market reaching 4.20 trillion yuan by the end of last year, representing 2.4 percent of the total market holdings.

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