Focusing on the high-quality development of the China debt market, the 2025 ICMA China Debt Capital Markets Annual Conference was held in Beijing.

On March 19, the 2025 ICMA China Debt Capital Markets Annual Conference, organized by the International Capital Markets Association (ICMA), was held in Beijing.

cls.cnMar 21 07:47

The central bank has been conducting hundred billion reverse repurchase operations for several consecutive days, signaling its support for the liquidity situation. What will be the trend moving forward?

① In the past three days, the central bank has continuously conducted reverse repurchase operations worth hundreds of billions, clearly signaling support for market liquidity. ② Market participants point out that the net injection scale is relatively limited and has not changed the upward trend of short-term interest rates. This may reflect policy objectives aimed at preventing funds from idling and curbing a rapid decline in long-term bond yields. ③ The possibility of the central bank stimulating a relaxation of market liquidity through large-scale liquidity injection is relatively low.

cls.cnMar 20 12:25

300 billion yuan is allocated to support consumer goods for trade-in and upgrade. This year, the list of special government bond uses is clear, supporting "two重" up to 800 billion.

① This year's 1.3 trillion ultra-long-term special government bonds may drive GDP growth by 1.7-1.9 percentage points. ② In 2024, the issuance of ultra-long-term special government bonds will have terms of 20 years, 30 years, and 50 years, with the first issuance on May 17 and completion in mid-November.

cls.cnMar 18 13:46

The policy of social financing drives emotions to improve faster than the fundamentals, giving the central bank more confidence.

The structure of social financing still demonstrates a relatively strong characteristic of policy-driven effects, with low market-oriented financing demand. This means that sentiment is improving faster than changes in the fundamentals, and the transmission of policy to reality will still take time. The adjustment space for the bond market should be limited. However, the marginal stabilization of social financing may continue to strengthen the central bank's confidence, leading to a further reassessment of the pace of interest rate cuts and reserve requirement ratio reductions.

wallstreetcnMar 15 13:52

2%——China's 10-year Bonds are eager to try! The next key test will be...

The China 10-Year Treasury Notes Yield is approaching the closely watched 2% level, raising concerns that the recent Bonds sell-off may be exacerbated by supply pressures and Peking's reluctance to accelerate MMF.

FX168Mar 12 14:17

China faces a significant test! The government plans to issue a record two-year government bond, but will the market dare to buy it?

This week, China's Bonds face a critical test as the bond market experiences intensified sell-offs, and the Chinese government plans to issue a record two-year government bond.

FX168Mar 11 14:21