Bond Connect Flash Report - July 2023

Highlights of the Month

The total monthly trading volume of Northbound Bond Connect was RMB 800.2 billion in July. The monthly average daily turnover rose to RMB 38.1 billion. Chinese government bonds and policy financial bonds were the most popular bond types, accounting for 43% of trading volume respectively.
Bond Connect Anniversary Summit 2023 was successfully held on July 4 to mark the sixth anniversary of Bond Connect. It welcomed Mainland and Hong Kong regulators, financial infrastructure providers, prominent industry experts and market participants, who shared fresh insights through keynote speeches and lively panel discussions on opportunities presented by the further opening-up of China’s bond market and the RMB internationalisation, as well as the significance of the newly launched Swap Connect.
ePrime Northbound Subscription Service supported Bank of Communications (Hong Kong)'s crossborder panda bond subscription of Crédit Agricole S.A. 2023 Renminbi Bonds (Series 1) with Bank of China as the lead underwriter and joint bookrunner on July 12. Onshore underwriters and offshore investors could leverage the digital allocation confirmation tickets generated by the system and reduce the inconvenience of signing distribution agreements manually.
PMIP disclosed the pre- and post-issuance information of 90 primary bonds in July, including policy financial bonds and negotiable certificates of deposit.

Northbound Investors and Trading Data

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The information or data contained in the Bond Connect Flash Report, and if applicable, its attachment and covering email, is for general information purposes only and should not be used as a substitute for investment, accounting, tax, legal or other professional advice. It is not directed at, nor is it intended for distribution to or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to the applicable law, regulation or regulatory requirement, or which would subject us Bond Connect Company Limited, or any of our affiliates, to any licensing or regulatory requirement in such jurisdiction or country. Neither we nor any of our affiliates (i) guarantee the accuracy, validity, timeliness, completeness or correctness of any such information or data and (ii) accept any responsibility in that connection, or any liability for any direct or indirect loss or damage arising from the use of or reliance on any such information or data.