Bond Connect Flash Report - October 2023

Highlights of the Month

In October, the total monthly trading volume of Northbound Bond Connect was RMB 743.1 billion, with an average daily turnover of RMB 39.1 billion. Chinese government bonds and policy financial bonds were the most popular bond types, accounting for 43% of the trading volume respectively.
ePrime Issuance Service successfully facilitated 6 issuances with total issue size of RMB 10.47 billion equivalent in October. Participating underwriters, listed in alphabetical order, included Bank of China, China CITIC Bank International, China International Capital Corporation, China Securities International, CITIC Securities, Guotai Junan International, Industrial Bank Co., Ltd. Hong Kong Branch, Orient Securities (Hong Kong), and Shanghai Pudong Development Bank Hong Kong Branch.
On 18 October, Bond Connect series event featured Bank of Communications on “Discovering Opportunities in CIBM: Primary and Bond Basket Trading”, providing an in-depth analysis of Chinese financial bonds at present and introduce the market liquidity and opportunities brought by bond basket trading in the CIBM.
On 26 October, Industrial and Commercial Bank of China Limited and Industrial and Commercial Bank of China (Asia) Limited joined Bond Connect series event “Swap Connect: The Latest Connectivity Between Onshore and Offshore Derivatives Markets”, furthering the introduction to onshore IRS market and how overseas investors could participate in onshore derivatives market via Swap Connect.
PMIP disclosed the pre- and post-issuance information of 71 primary bonds in October, including policy financial bonds and financial bonds.

Northbound Investors and Trading Data

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