China Sees Bonds Worth 20.1 Trln Yuan Issued This Year

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BEIJING, May 31 (Xinhua) -- China's bond market has seen robust growth in the first half of this year as companies and local governments step up bond issuance, data showed.

China has issued a total of 19,286 bonds so far this year, helping firms and governments raise 20.1 trillion yuan (about 2.82 trillion U.S. dollars), figures from financial information provider Wind showed.

In May, funds raised via bonds reached 3.25 trillion yuan, according to the company.

China has accelerated local government bond issuance this year to help the timely implementation of projects to mitigate the impact of the novel coronavirus epidemic.

Firms were also encouraged to use bond financing as an important way to raise funds. Earlier, central bank data showed that firms' net financing via bonds totaled 901.5 billion yuan in April, 506.6 billion yuan more than a year earlier.

According to a report by CSCI Pengyuan Credit Rating, the number of corporate bonds issued in April increased by 20 percent compared with that in March, while the amount raised increased 14 percent.

Source: Xinhua