BEIJING, Sept. 15 (Xinhua) -- China's bond market had a total of 110.53 trillion yuan of bond products including interbank certificates of deposit (CDs) under custody by the end of August, up 17.37 percent year on year, according to a report released by China Central Depository & Clearing Co., Ltd. (CCDC) Monday.
The growth was 1.11 percentage points higher than the comparable data in July while market liquidity did not improve last month, with monthly cash bond turnover at 23.78 trillion yuan, averaging 1.13 trillion yuan per trading day, down 5.11 percent from July and daily average cash bond turnover ratio at 1.03 percent, down 0.08 percentage points from July.
For debenture bonds, their issues rebounded in August and commercial paper (CPs) issues, a popular debenture bond product, accounted for 44.50 percent of aggregate monthly debenture bond issues, up 1.52 percentage points from July.
By the end of August, outstanding CPs took up 11.59 percent of all the unexpired debenture bonds in China, down 0.01 percentage points from the end of July but up 0.84 percentage points from the same period of 2019.
Default ratio for debenture bonds in China dipped over July in August, when overall eight batch of debenture bonds extended their repayment schedules or defaulted in bond principal or interest payment.
In August, monthly default ratio for debentures was 0.22 percent, down 0.13 percentage points from July.
CCDC, an important national financial market infrastructure in China, provides central registration, depository and settlement services and has gradually developed into a central securities depository for various kinds of financial products. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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