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The Development of China’s Bond Market

Author

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  • Hung-Gay Fung
  • Qingfeng “Wilson” Liu
  • Fan Zhang

Abstract

This article analyzes China’s bond market, which covers the interbank market, exchange market, and bank counter market. We compare various types of bonds and discuss their latest trends, which to a large extent are driven by government policies, resulting in rapid growth in central government and local government bond issues. The recent launch of the “Bond Connect” trading platform for bond transactions between mainland China and Hong Kong and the emergence of many new bond types suggest that China’s bond market may provide more investment and growth opportunities for global investors.

Suggested Citation

  • Hung-Gay Fung & Qingfeng “Wilson” Liu & Fan Zhang, 2019. "The Development of China’s Bond Market," Chinese Economy, Taylor & Francis Journals, vol. 52(1), pages 107-123, January.
    • Handle: RePEc:mes:chinec:v:52:y:2019:i:1:p:107-123
    DOI: 10.1080/10971475.2018.1523982
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    Cited by:

    1. Su, Tong & Lin, Boqiang, 2022. "The liquidity impact of Chinese green bonds spreads," International Review of Economics & Finance, Elsevier, vol. 82(C), pages 318-334.

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