The first batch of convertible bonds in the Year of the Horse has started issuing, and the new rules on refinancing may continue to promote market expansion.

Affected by the Spring Festival holiday factor, there was only 1 new convertible bond issued in the convertible bond market in February. However, convertible bond issuance will pick up significantly in early March: on March 2nd, Tonglian Convertible Bonds started online subscription; on March 3rd, Xianghe Convertible Bonds followed suit. A research analyst stated that the speed of convertible bond issuance this year is significantly faster than last year, and with policy support and strong market demand, the size of convertible bond issuance in the future will be better than expected.