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Markets· Bond

China Bond Daily News 09:50 BJT

CKN
minutes 2020/01/07 09:50:13
3,366
Bond, Markets

Jan 07, 2020 (China Knowledge) - Today 56 new bonds to be listed for trading, 113 bonds to be put up for tender.

Gold Convertible bond rose 22% on the first day of listing, Mingyang Convertible bond rose 20.1%. 

Jining SMI announced that Jining State-owned Assets increase its capital investment by RMB 0.8 bln which increased its registered capital from RMB 4.737 bln to RMB 5.573 bln. Jining State-owned Assets still holds 100% of its equity.

T-bond futures opened with 10-year contracts down by 0.10% and 5-year contracts down by 0.04%.

The opening price of 1-day inter-bank pledge-style repo (DR001) was 2.50%, and the

weighted average price of the previous day at 1.8440%. The opening price of the 7-day inter-bank pledge-style repo (DR007) priced at 2.60% and the weighted average price of previous day was 2.3279%.

According to Jianghai Securities, the number of T-bond issuances in 2020 will still show an upward trend compared to 2019. The net issue size of T-bond in 2020 is expected to be approximately RMB 2.05 trln, an increase of RMB 220 bln from 2019. The total issue size of T-bond in 2020 is approximately RMB 4504.774 bln, an increase of RMB 340.674 bln from 2019.

The issuance of municipal bond this year is 20 days earlier than last year. The public information shows that, as of January 5, the cumulative issuance amount reached RMB 497.809 bln. It can be predicted that the issuance of new municipal bonds in January this year will exceed RMB 500 bln, accounting in advance for half of the quota issued.

According to statistics, in 2019, 15 Commercial Banks issued RMB 569.6 bln of perpetual bonds, of which 5 state-owned large banks and 7 joint-stock banks accounted for 56.2% and 41.3% respectively. Experts believe that with the further expansion of the issuing body, the perpetual bond issuance in 2020 will be frequent.

Total new credit in China is estimated to have increase by RMB 1.2 trln in Dec 2019, and the new social financing scale is expected to range from RMB 1.6 trln to RMB 1.8 trln. The growth rate of RMB credit balance and social financing stock at the end of Dec 2019 is expected to remain stable.

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