New issuances by Chinese entities in October amounted to about 161 billion yuan, with 88% of being onshore bonds. That was about 19 billion yuan less than September's.
Issuance amount across currencies ($ millions)
Source: Bloomberg Quant Platform (BQuant), Global Data
Subscription rate of dollar bonds issued by Chinese entities reached the highest among all Asia-Pacific ex-Japan entities in September 2021 and second in October (trailing Hong Kong).
New issuance subscription by market of risk
Debt issues continued to be dominated by industrials, although on a decreasing trend.
Debut issue volume by industry
In October. 48 offshore securities were issued by Chinese issuers within nine industry groups. Based on BVAL, seven out of nine industry groups are below par after listing in the secondary market. Real estate new issuances performed the worst among all sectors.
New issuance performance (Oct)
Source: FIW <GO>
