Central Bank: In August, various types of bonds totaling 73,983.9 billion yuan were issued in the bond market.

On September 27, the central bank data showed that in August, various types of bonds totaling 7398.39 billion yuan were issued in the bond market. Treasury bonds issued 1,593.27 billion yuan, local government bonds issued 1,199.62 billion yuan, financial bonds issued 1,132.90 billion yuan, corporate credit bonds issued 1,378.91 billion yuan, credit asset-backed securities issued 131.0 billion yuan, interbank certificates of deposit issued 20,503.9 billion yuan. The full text is as follows: Financial Market Operation in August 2024 I. Bond Market Issuance In August, various types of bonds totaling 7398.39 billion yuan were issued in the bond market. Treasury bonds issued 1,593.27 billion yuan, local government bonds issued 1,199.62 billion yuan, financial bonds issued 1,132.90 billion yuan, corporate credit bonds issued 1,378.91 billion yuan, credit asset-backed securities issued 131.0 billion yuan, interbank certificates of deposit issued 20,503.9 billion yuan. By the end of August, the custody balance of the bond market was 167.9 trillion yuan. Among them, the custody balance of the interbank market was 147.3 trillion yuan, and the custody balance of the exchange market was 20.6 trillion yuan. In terms of bond types, the custody balance of treasury bonds was 32.3 trillion yuan, the custody balance of local government bonds was 43.2 trillion yuan, the custody balance of financial bonds was 40.0 trillion yuan, the custody balance of corporate credit bonds was 32.6 trillion yuan, the custody balance of credit asset-backed securities was 1.2 trillion yuan, and the custody balance of interbank certificates of deposit was 17.3 trillion yuan. The custody balance of bonds held by commercial banks was 891.1 billion yuan. II. Bond Market Operation In August, the transaction volume of bonds in the interbank bond market was 28.8 trillion yuan, with a daily average of 13,109.5 billion yuan, a decrease of 1.6% year-on-year and a decrease of 16.9% month-on-month. Transactions in the range of 50-500 million yuan accounted for 51.1% of the total transaction amount, while transactions above 90 million yuan accounted for 42.8% of the total transaction amount, with an average transaction volume of 4158.8 million yuan. The transaction volume of bonds in the exchange bond market was 3.1 trillion yuan, with a daily average of 1421.1 billion yuan. Commercial banks' counter market bond transactions were 81,000 transactions, with a transaction amount of 581.5 billion yuan. III. Bond Market Opening to Foreign Investors By the end of August, the custody balance of overseas institutions in the Chinese bond market was 4.56 trillion yuan, accounting for 2.7% of the total custody balance of the Chinese bond market. Among them, the custody balance of overseas institutions in the interbank bond market was 4.52 trillion yuan; by bond types, overseas institutions held 2.28 trillion yuan of treasury bonds, accounting for 50.4%, interbank certificates of deposit 1.12 trillion yuan, accounting for 24.8%, and policy bank bonds 0.95 trillion yuan, accounting for 21.0%. IV. Money Market Operation In August, the transaction volume in the interbank interbank lending market was 91 trillion yuan, a decrease of 30.4% year-on-year and a decrease of 4.7% month-on-month; bond repurchase transactions amounted to 143.9 trillion yuan, a decrease of 15.5% year-on-year and a decrease of 2.7% month-on-month. The exchange standard bond repurchase transaction volume was 44.7 trillion yuan, an increase of 9.7% year-on-year and a decrease of 5.8% month-on-month. In August, the weighted average interest rate of interbank lending was 1.77%, a decrease of 4 basis points month-on-month; the weighted average interest rate of repo transactions was 1.79%, a decrease of 3 basis points month-on-month. V. Bill Market Operation In August, the amount of commercial acceptance bills was 2.9 trillion yuan, and the discount amount was 2.2 trillion yuan. By the end of August, the balance of commercial acceptance bills was 18.8 trillion yuan, and the discount balance was 14.0 trillion yuan. In August, a total of 102,000 micro and small enterprises issued bills, accounting for 93.1% of all issuing enterprises, with a total issuance amount of 2.1 trillion yuan, accounting for 71.4% of the total issuance amount. There were 111,000 micro and small enterprises discounting bills, accounting for 96.4% of all discounting enterprises, with a discount amount of 1.7 trillion yuan, accounting for 77.0% of the total discounting amount. VI. Stock Market Operation At the end of August, the Shanghai Composite Index closed at 2842.2 points, a decrease of 96.5 points or 3.3% compared to the previous month; the Shenzhen Component Index closed at 8348.5 points, a decrease of 405.6 points or 4.6% compared to the previous month. In August, the daily average trading volume in Shanghai was 2579.6 billion yuan, down 12.7% compared to the previous month; in Shenzhen, the daily average trading volume was 3370.7 billion yuan, down 5.6% compared to the previous month. VII. Holders Structure of Interbank Bond Market By the end of August, there were a total of 4014 legal entity members in the interbank bond market, all of which were financial institutions. According to legal entity statistics, there were a total of 2094 holders of non-financial corporate debt financing instruments. The top 50 investors held a share of 50.4%, mainly concentrated in public funds (asset management), large state-owned commercial banks (proprietary), and trust companies (asset management); the top 200 investors held a share of 83.5%. The maximum, minimum, average, and median number of holders of non-financial corporate debt financing instruments were 88, 1, 13, 13, with holders of less than 20 constituting 87%. In August, in terms of trading volume, the top 50 investors of non-financial corporate debt financing instruments accounted for 60.8% of the total trading volume, mainly concentrated in securities companies (proprietary), fund companies (asset management), and joint-stock commercial banks (proprietary), with the top 200 investors accounting for 90.5% of the total trading volume. This article is compiled from the "People's Bank of China Official Website"; GMTEight Editor: Huang Xiaodong.