Recently, many commercial banks have intensively issued secondary capital bonds and capital bonds with no fixed term in the interbank market. According to Wind data, as of August 12, commercial banks issued a total of 62 “Eryong Bonds” during the year, with a total issuance scale of 1281,728 billion yuan, an increase of 22.31% over the same period last year. Interviewed experts said that the scale of commercial banks' “Eryong Bonds” issuance increased dramatically over the same period last year, and the differentiation of market players intensified. As supply gradually declined from its high in the second quarter, total circulation declined marginally in the second half of the year, maintained a certain volume in the third quarter, and settled steadily in the fourth quarter, and the industry officially entered a new stage of structural differentiation. The chief economist of CITIC Securities clearly stated that the total amount of “Eryong Bonds” issued throughout the year is expected to be between 1.5 trillion yuan and 2 trillion yuan. Supply in the second half of the year fell marginally from the peak in the second quarter. Among them, it remained at a certain scale in the third quarter and gradually subsided in the fourth quarter.

Recently, many commercial banks have intensively issued secondary capital bonds and capital bonds with no fixed term in the interbank market. According to Wind data, as of August 12, commercial banks issued a total of 62 “Eryong Bonds” during the year, with a total issuance scale of 1281,728 billion yuan, an increase of 22.31% over the same period last year. Interviewed experts said that the scale of commercial banks' “Eryong Bonds” issuance increased dramatically over the same period last year, and the differentiation of market players intensified. As supply gradually declined from its high in the second quarter, total circulation declined marginally in the second half of the year, maintained a certain volume in the third quarter, and settled steadily in the fourth quarter, and the industry officially entered a new stage of structural differentiation. The chief economist of CITIC Securities clearly stated that the total amount of “Eryong Bonds” issued throughout the year is expected to be between 1.5 trillion yuan and 2 trillion yuan. Supply in the second half of the year fell marginally from the peak in the second quarter. Among them, it remained at a certain scale in the third quarter and gradually subsided in the fourth quarter.