China interbank bond sales down 4.4 percent

Bond sales on China's interbank market fell 4.4 percent year on year to 4.83 trillion yuan (754.7 billion U.S. dollars)in the first eight months of the year, according to the country's central bank. In August alone, interbank bond insurance amounted to 741.97 billion yuan, a decrease of 4 percent from July, data released by the People's Bank of China (PBOC) have shown. The proportion of bond offerings with terms less than five years and those longer than 10 years declined in August, while the ratio of those between five and 10 years gained during the period, according to the PBOC. By the end of August, China's outstanding bonds came in at 24.6 trillion yuan, of which 96.6 percent were contributed by the Interbank bond market, the central bank said.