China primary bond market:

Shanghai FTZ offshore issuance has tripled so far this year

Offshore credit bonds new issuance: 41 Chinese issuers raised $6.5 billion of debt in the offshore market in August. ZTO Express was the largest issuer.
Onshore credit bonds new issuance: 625 issuers raised 895 billion yuan of bonds in the China onshore credit market in August, with new issuance volume increasing 7% from the previous month.
Subscription rates for dollar bonds issued by Chinese entities were surpassed by those from other Asia-Pacific ex-Japan markets excluding Hong Kong for for the third month in a row, with the overall subscription rate dropping in July. There were no subscription records for issues from China or Hong Kong companies in August.
The industrial sector is fluctuating on issuance volume of debut issues though it continuous to lead other industries on a rolling one year basis.
Shanghai Free-Trade-Zone Bonds Offshore Issuance Surge: The year-to-date issuance for offshore Shanghai Free-Trade-Zone bonds is more than triple the total for 2021, mainly driven by offshore bonds denominated in yuan.

Issuance amount across currencies ($ millions)

Source: Bloomberg Quant Platform (BQuant), Global Data

Offshore new issuance subscription by market of risk

Source: Bloomberg Quant Platform (BQuant), Global Data

Debut issue by industry

Source: Bloomberg Quant Platform (BQuant), Global Data

China onshore new issuance monthly (CNY:MM)

Source: LEAG <GO>

Shanghai free-trade-zone bond offshore issuance

Source: Bloomberg

APAC ESG bonds issuance: ESG issuance volumes continued their downward trend among APAC countries. China and South Korea continue to lead.
China ESG bonds issuance: Green bonds continued to dominate ESG issuance in the Chinese market. Sustainability-linked bond issuance had a significant increase since May.
China ESG bonds issuance by industry: The financial sector's ESG bonds issuance volume regained the lead since July after being surpassed by industrials in June.

ESG bonds issuance volume in Asia-Pacific

Source: Bloomberg Quant Platform (BQuant), Global Data

ESG debt issue by theme in Chinese market

Source: Bloomberg Quant Platform (BQuant), Global Data

ESG debt issue volume by industry in Chinese market

Source: Bloomberg Quant Platform (BQuant), Global Data