I. Overview of Bond Issuance

In November, total bond issuance registered RMB 4.0 trillion. Specifically, issuance of treasury bonds, local government bonds, financial bonds, corporate credit bonds, asset-backed securities, and inter-bank certificates of deposit reached RMB 259.9 billion, RMB 45.9 billion, RMB 583.4 billion, RMB 835.7 billion, RMB 270.8 billion and RMB 2.0 trillion respectively.

At end-November, outstanding bonds held in depository posted RMB 85.0 trillion, among which the depository balance of treasury bonds, local government bonds, financial bonds, corporate credit bonds, asset-backed securities and inter-bank certificates of deposit amounted to RMB 14.1 trillion, RMB 18.0 trillion, RMB 20.5 trillion, RMB 18.2 trillion, RMB 2.7 trillion and RMB 9.6 trillion respectively.

II. Overview of Money Market

In November, the total turnover of inter-bank money market registered RMB 85.5 trillion, up 24.47% year on year (y-o-y) and 24.19% month on month (m-o-m), including RMB 70.7 trillion of pledged repo, up 21.54% y-o-y and 25.80% m-o-m; RMB 0.9 trillion of outright repo, down 69.41% y-o-y while up 18.68% m-o-m and RMB 13.9 trillion of inter-bank lending, up 85.98% y-o-y and 16.96% m-o-m.

In November, the monthly weighted average interest rate of inter-bank lending was 2.49%, up 7 basis points from October. The monthly weighted average interest rate of pledged repo was 2.46%, up 7 basis points from October.

III. Overview of Bond Market

In November, the turnover of cash bond in the inter-bank bond market reached RMB 18.0 trillion, daily averaging RMB 819.5 billion, up 69.66% y-o-y and 9.82% m-o-m. The turnover of cash bond in the exchange bond market reached RMB 567.0 billion, daily averaging RMB 25.8 billion, down 6.39% y-o-y while up 7.48% m-o-m. At end-November, the inter-bank bond aggregate index stood at 187.66 points, up 1.80 points from end-October.

IV. Overview of Stock Market

At end-November, the SSE Composite Index closed at 2588.19 points, declining 14.60 points from end-October, down 0.56%; the SZSE Component Index closed at 7681.75 points, rising 198.92 points from end-October, up 2.66%. In November, the daily average turnover of SSE was RMB 153.0 billion, up 12.11% m-o-m; the daily average turnover of SZSE was RMB 202.1 billion, up 30.72% m-o-m.

(Data Sources: China Securities Regulatory Commission, China Central Depository and Clearing Co. Ltd., National Inter-bank Funding Center, Shanghai Clearing House, Shanghai Stock Exchange, Shenzhen Stock Exchange)