Bonds News
- China's financial market sees drop in bonds in April
Date: 28-May-2007 Sources: (Xinhua Online)
China's financial markets in April saw a month-on-month decline in bond issues and a sharp increase in stock indices, sources with the People's Bank of China, the central Bank, said on Friday.
Last month saw bonds valued at 476.7 billion yuan issued on the interbank market, a decrease of 59.3 percent from the March level. Bond prices remained largely stable amid a downward trend due to interest rate hikes for deposits and credit extension.
According to central bank sources, bonds valued at 2.6 trillion yuan (338 billion U.S. dollars) were issued on China's interbank market in the first four months of this year, a growth of 40.13 percent on the previous year.
The total included 146.6 billion yuan worth of book-entry treasure bonds issued by the Ministry of Finance, 2.1 trillion yuan worth of central-bank bonds, 235 billion yuan worth of financial bonds issued by policy banks and commercial banks and 82.2 billion yuan worth of short-term bonds issued by enterprises.
Since the beginning of the year, China's equity market has been robust, with stock indices soaring.
The benchmark Shanghai Stock Composite Index concluded April trading at 3,841.27 points, up 1,125.55 points, or 41.4 percent, since the beginning of the year.
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