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Flash Report

Kicking Off Q2 on A Strong Note in Trading & Launch of Dealer-Pay Model

30 April 2021

Highlights of the Month


A total of 5340 tickets amounted to RMB 519.2 billion were traded on Bond Connect for the month. Average Daily Turnover reached RMB 24.7 billion. Majority of trading activities center around Chinese Government Bonds (51%) and Policy Financial Bonds (34%). Most activities surround papers of 0-1yr (28%) & 7-10yr (31%) maturities. 

Bond Connect investors can now elect to use the new dealer pay model by submitting application via access platform to CFETS. Upon activation, this model effectively allows for an all-in price calculation upon trade execution. Currently, Tradeweb is ready to support the new feature.

Bond Connect mini seminar series featured China Securities on “Development and Prospect of China Economics and Bond Market” on April 21. In the seminar, China Securities gave a deep insight into pertinent topics such as carbon neutrality and secondary market liquidity of China onshore bonds and derivatives.

BCCL was invited by ASIFMA to join its “China Capital Markets Week” conference on April 21, exchanging views with 4 other panellists on the value of China fixed income assets, impediments, and future developments from an infrastructure’s point of view.

Investors



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Primary Market

In April, PMIP disclosed the pre- and post-issuance information of 179 primary bonds including PFBs, NCDs, MTNs, financial bonds, enterprises bonds, tier-2 capital bonds, ABSs and financial commercial papers.