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China's bond issuance hits 15 trl yuan during Jan.-Sept.

Xinhua, October 27, 2015 Adjust font size:

Bonds issued in China in the first three quarters of 2015 reached 15.1 trillion yuan (2.3 trillion U.S. dollars), up 70.8 percent from a year earlier, the central bank said on Tuesday.

Of the bonds issued, 7.7-trillion-yuan worth were issued through the inter-bank bond market, up 122.5 percent year on year, according to the People's Bank of China (PBOC).

Bonds issued in September alone hit 2.5 trillion yuan, up 128.2 percent year on year.

Since 2014, the financing costs for companies through bond issuance has been significantly reduced, according to the central bank.

The central bank, announced last Friday that both benchmark deposit rate and lending rates will be lowered by 25 basis points from Oct. 24.

The PBOC also cut the reserve requirement ratio (RRR) again for all financial institutions; this time from 17.5 percent to 17 percent, the sixth policy rate cut and the fourth universal cut in the past year.

The cuts bring down the 1-year benchmark lending rate to 4.35 percent, and 1-year benchmark deposit rate to 1.5 percent. Endi