After a smaller-than-expected interest rate cut raised doubts on whether Chinese policymakers would act forcefully enough to support the economy, investors are positioning for a longer game

China's $20 trillion bond market has suffered continuous foreign outflows since February amid rising geopolitical tension and lingering Covid outbreaks

China bonds registered $2.5 billion of outflows last month, the fifth consecutive month of foreign outflows, but over $9.1 billion of foreign inflows went into China's stock market in June, the IIF said

Local administrations issued bonds to the tune of 1.41 trillion yuan ($210 billion) up till Sunday June 26, which was an 80% jump from a year ago, and that total could rise further

The yuan-denominated bonds are offered by mostly European automobile firms and financial institutions to balance foreign exchange risks

Ratings agency S&P Global downgraded Greenland to "selective default" on Wednesday after the state-backed property developer extended the maturity of $488 million in bonds

The calls come as global fixed-income traders sold about $35 billion worth of yuan-denominated bonds in the first four months of this year

New construction starts measured by floor area plunged 30.6% in January-May from a year earlier, after a 26.3% fall in January-April

The five-year $200 million social bond with a coupon rate of 5.875%, and $500m green perpetual bond at a coupon rate of 6.15% were oversubscribed by nearly five times, the group said.

AIIB, a multilateral development bank headquartered in Beijing, issued 1.5 billion yuan ($224 million) of three-year bonds with a coupon rate of 2.4%

Local governments will need to issue another $210bn in special bonds this month if they want to meet the cabinet's half-year goal

The 5-year notes carry a coupon of 4.40%, while the 10-year notes have a 4.70% coupon, below the sovereign's initial price guidance