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China 2020 bond sales top 20tn yuan
China is cooling its funding of infrastructure projects amid concern about heightened prices for metals and other commodities. File photo by Reuters.

(ATF) China has issued a total of 19,286 bonds this year, helping firms and governments raise 20.1 trillion yuan ($2.8tn), the latest figures from financial information provider Wind showed. In May, funds raised via bonds reached 3.25tn yuan.

China has accelerated local government bond issuance this year to help with the timely implementation of projects to mitigate the impact of the coronavirus epidemic.

Firms were also encouraged to use bond financing as an important way to raise funds. Earlier, central bank data showed that firms’ net financing via bonds totaled 902bn yuan in April, 507bn yuan more than a year earlier.

According to a report by CSCI Pengyuan Credit Rating, the number of corporate bonds issued in April rose 20% from March, while the amount raised increased by 14%.

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