Highlights of the Month

• Northbound Bond Connect: The monthly trading volume for October was RMB 675.6 billion, with the monthly average daily turnover of RMB 35.6 billion. Policy financial bond was the most active bond type, accounting for 46% of the monthly trading volume.
• Northbound Swap Connect: 608 transactions were traded in October, with volume of RMB 349.828 billion. By the end of October, 69 overseas institutions were onboarded under Northbound Swap Connect.
• ePrime Issuance Service successfully facilitated 16 issuances with total issue size of RMB 29.174 billion equivalent in October, including People’s Government of Hainan Province’s issuance of 3-, 5- and 10-year offshore RMB local government bonds totaling RMB 3 billion on 17 October. Participating underwriters of this month, listed in alphabetical order, included Agricultural Bank of China Limited Hong Kong Branch, Bank of China, China CITIC Bank International, China Industrial Securities International, China International Capital Corporation, China Securities International, CITIC Securities, CMB International, Guotai Junan International, Industrial Bank Co., Ltd. Hong Kong Branch, Orient Securities (Hong Kong), and Shanghai Pudong Development Bank Hong Kong Branch.
• In the middle of October, BCCL ran a roadshow in the UK to promote the latest initiatives for two-way opening of China’s financial market and gather market feedback. As part of the initiative, BCCL jointly held an event with China Construction Bank, CITIC Securities and Tradeweb, themed “Navigating China Macro Outlook, RMB Investments and Green Bond Market” in London to share the latest developments of China’s bond market and green bond, and discuss latest investment opportunities and strategies amid recent policy support in China. BCCL also participated as a panelist in the event “China Financial Market Forum”, hosted by Bank of China London Branch, to share the latest updates to connectivity including Bond Connect and Swap Connect.
• From 21 to 25 October, BCCL joined SIBOS 2024 in Beijing and “Workshop on the Bund: Investing in China’s Bond Market” event hosted by CFETS, engaging with financial institutions from around the globe to discuss and share insights on market development and China market access.
• PMIP disclosed the pre- and post-issuance information of 68 primary bonds in October.

Northbound Bond Connect Investors and Trading Data