Highlights of the Month

• Northbound Bond Connect: the monthly trading volume for September was RMB 812.5 billion, and the monthly average daily turnover stood at RMB 38.7 billion. Chinese government bond and policy financial bond were the most popular bond types, accounting for 38% and 41% of the trading volume respectively.
• Northbound Swap Connect: 631 transactions were traded in September, with volume of RMB 385.077 billion. By the end of September, 65 overseas institutions were onboarded under Northbound Swap Connect.
• ePrime Issuance Service successfully facilitated 13 issuances with total issue size of RMB 14.06 billion equivalent in September. Participating underwriters of this month, listed in alphabetical order, included Bank of China, China CITIC Bank International, China International Capital Corporation, China Securities International, CITIC Securities, CNCB Capital, Guotai Junan International, ICBC International, and TF International.
• BCCL held a Singapore roadshow to engage with investors, aiming to understand their investment focuses and gather market feedback amid the recent policy announcements. BCCL also attended the local joint event “RMB Bond and Derivatives Market Outlook”, hosted by Bank of China Singapore Branch and Orient Securities, as a panelist to share insights on RMB bonds, and highlight new trends and opportunities in the derivatives market.
• On 5 September, Bond Connect series event featured NAFMII and Bank of China on “The Rise of Panda Bond and Investment Opportunities”, exploring the current market landscape, pricing dynamics and investment opportunities of panda bonds, and illustrating how to access panda bonds in the primary market with ePrime system.
• PMIP disclosed the pre- and post-issuance information of 72 primary bonds in September.

Northbound Bond Connect Investors and Trading Data