China primary bond market key charts

• New issuance amount: China real estate's new issuance debt in December doesn't appear to be impacted by a bearish secondary market. Although new issuance in offshore market decreased, real estate issuers increased debt issuance in the China domestic market (refer to chart below).
   
• Subscription rate for dollar bonds continued by Chinese reached the highest among all Asia-Pacific ex-Japan entities in September 2021, but dropped for the remainder of 2021.
   
• Debt issues were again dominated by industrials.

Issuance amount across currencies ($ millions)

Source: Bloomberg Quant Platform (BQuant), Global Data

New issuance subscription by market of risk

Source: Bloomberg Quant Platform (BQuant), Global Data

 

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Debut issue volume by industry

Source: Bloomberg Quant Platform (BQuant), Global Data

China real estate new issuance in USD and CNY (millions)

Source: SRCH <GO>