New issuances by Chinese entities in November increased to about $ 260 billion, the highest this year.
Issuance amount across currencies ($ millions)
Source: Bloomberg Quant Platform (BQuant), Global Data
Subscription rate for dollar bonds issued by Chinese entities reached the highest among all Asia-Pacific ex-Japan entities in September 2021, and was second in October (trailing Hong Kong).
New issuance subscription by market of risk
Debt issues were again dominated by industrials, though to a decreasing degree.
Debut issue volume by industry
In November. 77 offshore securities were issued by Chinese credit issuers. Based on BBG BVAL, 41 out of 60 issuers are traded below par after listing in the secondary market. Real estate new issuance performed the worst among all industry sectors.
Average price of Chinese credit issuers new issuance (grouped by industry sector)
Source: FIW , BBG BVAL
