Core Insights - The central bank reported on the financial market operations for August 2025, highlighting significant bond issuance and market balances [1] Bond Market Issuance - In August, a total of 74,281.4 billion yuan in various bonds were issued, including: - Government bonds: 13,277.6 billion yuan - Local government bonds: 9,776.4 billion yuan - Financial bonds: 11,550.3 billion yuan - Corporate credit bonds: 12,391.4 billion yuan - Credit asset-backed securities: 212.2 billion yuan - Interbank certificates of deposit: 26,956.5 billion yuan [1] Bond Market Custody Balances - As of the end of August, the total custody balance of the bond market reached 192.0 trillion yuan, with: - Interbank market custody balance: 169.8 trillion yuan - Exchange market custody balance: 22.2 trillion yuan - By bond type, the custody balances were: - Government bonds: 38.4 trillion yuan - Local government bonds: 53.0 trillion yuan - Financial bonds: 43.9 trillion yuan - Corporate credit bonds: 34.1 trillion yuan - Credit asset-backed securities: 1.0 trillion yuan - Interbank certificates of deposit: 20.4 trillion yuan - The custody balance of commercial bank counter bonds was 222.5 billion yuan [1]

Core Insights - The People's Bank of China reported that in July 2025, the total issuance of various bonds in the bond market reached 77,536.2 billion yuan [1] - The breakdown of bond issuance includes: 12,226.5 billion yuan in government bonds, 12,134.9 billion yuan in local government bonds, 13,905.5 billion yuan in financial bonds, 13,496.8 billion yuan in corporate credit bonds, 329.3 billion yuan in credit asset-backed securities, and 24,743.6 billion yuan in interbank certificates of deposit [1] Bond Market Overview - As of the end of July, the total custody balance of the bond market was 190.4 trillion yuan [1] - The custody balance in the interbank market was 168.4 trillion yuan, while the exchange market had a custody balance of 22.0 trillion yuan [1] - By bond type, the custody balances were: 37.6 trillion yuan for government bonds, 52.5 trillion yuan for local government bonds, 43.4 trillion yuan for financial bonds, 34.0 trillion yuan for corporate credit bonds, 1.0 trillion yuan for credit asset-backed securities, and 20.7 trillion yuan for interbank certificates of deposit [1] - The custody balance of bonds at commercial banks' counters was 2,092.8 billion yuan [1]

Group 1 - In June, the bond market issued a total of 87,939.5 billion yuan in various types of bonds [1] - The issuance breakdown includes: 15,903.9 billion yuan in government bonds, 11,753.2 billion yuan in local government bonds, 10,738.7 billion yuan in financial bonds, 14,257.3 billion yuan in corporate credit bonds, 247.2 billion yuan in credit asset-backed securities, and 34,569.3 billion yuan in interbank certificates of deposit [1] - As of the end of June, the total custody balance of the bond market reached 188.5 trillion yuan, with 166.7 trillion yuan in the interbank market and 21.9 trillion yuan in the exchange market [1] Group 2 - The custody balance by bond type includes: 37.2 trillion yuan in government bonds, 51.7 trillion yuan in local government bonds, 42.7 trillion yuan in financial bonds, 33.7 trillion yuan in corporate credit bonds, 1.0 trillion yuan in credit asset-backed securities, and 21.1 trillion yuan in interbank certificates of deposit [1] - The custody balance of bonds at commercial banks' counters is 203.8 billion yuan [1]