According to central bank data, in July 2026, net financing of government bonds was 1317.64 billion yuan, an increase of 69.46 billion yuan; net financing of corporate bonds was 453.59 billion yuan, an increase of 178.75 billion yuan over the previous year. At the end of July 2026, the bond market had an escrow balance of 207.4 trillion yuan. In July 2026, the cash market turnover was 41.4 trillion yuan, a year-on-year decrease of 0.6%; the interbank bond market's cash turnover rate was 19.2%, down 2.8 percentage points from month to month; and the 10-year treasury bond active trading price spread was 0.15 basis points. At the end of July 2026, the yield on 10-year treasury bonds was 1.71%; the yield spread between 10-year and 1-year treasury bonds was 57 basis points, narrowing 4 basis points from month to month; the spread between the yield on 3-year AAA medium-term notes and the yield on 3-year treasury bonds was 40 basis points, which was 7 basis points wider than the previous month. In the first seven months of 2026, panda bonds totaled 19.53 billion yuan, and 26 additional overseas institutions entered the interbank bond market.

According to central bank data, in July 2026, net financing of government bonds was 1317.64 billion yuan, an increase of 69.46 billion yuan; net financing of corporate bonds was 453.59 billion yuan, an increase of 178.75 billion yuan over the previous year. At the end of July 2026, the bond market had an escrow balance of 207.4 trillion yuan. In July 2026, the cash market turnover was 41.4 trillion yuan, a year-on-year decrease of 0.6%; the interbank bond market's cash turnover rate was 19.2%, down 2.8 percentage points from month to month; and the 10-year treasury bond active trading price spread was 0.15 basis points. At the end of July 2026, the yield on 10-year treasury bonds was 1.71%; the yield spread between 10-year and 1-year treasury bonds was 57 basis points, narrowing 4 basis points from month to month; the spread between the yield on 3-year AAA medium-term notes and the yield on 3-year treasury bonds was 40 basis points, which was 7 basis points wider than the previous month. In the first seven months of 2026, panda bonds totaled 19.53 billion yuan, and 26 additional overseas institutions entered the interbank bond market.