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China's bond issuance continues to surge

Xinhua, February 26, 2016 Adjust font size:

The value of bonds issued in China in January reached 2.1 trillion yuan (323 billion U.S. dollars), up 117.3 percent from a year earlier, the central bank said on Friday.

Of the bonds issued, 1.8 trillion yuan's worth were issued through the inter-bank bond market, up 109.9 percent year on year, according to the People's Bank of China (PBOC).

The total balance of the bond market reached 48.8 trillion yuan by the end of January.

The surging bond issuance suggested it was becoming easier for Chinese firms to find affordable financing. Financing costs for companies through bond issuance have been significantly reduced since 2014, according to the PBOC.

The central bank announced on Wednesday that China will introduce more qualified foreign institutional investors (QFII) to the inter-bank bond market with streamlined regulations and no quota restrictions as a means of financial opening up. Endi