According to statistics from the People's Bank of China, in August 2025, the bond market issued a total of 742.814 billion yuan in various types of bonds. Treasury bond issued 1327.76 billion yuan, local government bonds issued 977.64 billion yuan, financial bonds issued 1155.03 billion yuan, corporate credit bonds issued 1239.14 billion yuan, credit asset-backed securities issued 21.22 billion yuan, and interbank deposit receipts issued 269.55 billion yuan. As of the end of August, the bond market had a custody balance of 19.20 trillion yuan. Among them, the interbank market custody balance is 169.8 trillion yuan, and the exchange market custody balance is 22.2 trillion yuan. In terms of securities, the balance of treasury bond custody is 38.4 trillion yuan, the balance of local government bonds custody is 53.0 trillion yuan, the balance of financial bonds custody is 43.9 trillion yuan, the balance of corporate credit bonds custody is 34.1 trillion yuan, the balance of credit asset-backed securities custody is 1.0 trillion yuan, and the balance of inter-bank deposit receipt custody is 20.4 trillion yuan. The balance of bond custody at commercial bank counters is 222.52 billion yuan.

In August, the interbank bond market saw a current transaction volume of 33.1 trillion yuan, with an average daily transaction volume of 1.6 trillion yuan, an increase of 20.1% year-on-year and a decrease of 2.8% month on month. Transactions with a single transaction volume of 5-50 million yuan account for 51.8% of the total transaction amount, while transactions with a single transaction volume of over 90 million yuan account for 42.2% of the total transaction amount, with an average single transaction volume of 40.05 million yuan. The trading volume of bonds in the exchange bond market is 4.4 trillion yuan, with an average daily trading volume of 208.29 billion yuan. There were 98000 transactions of commercial bank counter bonds, with a total transaction amount of 63.97 billion yuan.

As of the end of August, the custodian balance of overseas institutions in China's bond market was 3.9 trillion yuan, accounting for 2.0% of the custodian balance in China's bond market. Among them, the bond custody balance of overseas institutions in the interbank bond market is 3.8 trillion yuan; In terms of securities, overseas institutions hold RMB 2.0 trillion of treasury bond, accounting for 52.5%, inter-bank deposit receipts of RMB 0.9 trillion, accounting for 23.8%, and policy bank bonds of RMB 0.7 trillion, accounting for 19.3%.

In August, the interbank lending market saw a transaction volume of 8.8 trillion yuan, a year-on-year decrease of 3.1% and a month on month decrease of 10.4%; Bond repurchase transactions amounted to 160.8 trillion yuan, an increase of 11.8% year-on-year and a decrease of 8.28% month on month. Exchange standard bond repurchase transactions amounted to 52.9 trillion yuan, an increase of 18.3% year-on-year and a decrease of 7.9% month on month. In August, the weighted average interbank lending rate was 1.40%, a decrease of 5 basis points compared to the previous month; The weighted average interest rate for pledged repo was 1.41%, a decrease of 5 basis points compared to the previous period.

In August, the acceptance amount of commercial bills was 3.3 trillion yuan, and the discount amount was 2.5 trillion yuan. As of the end of August, the acceptance balance of commercial bills was 20.2 trillion yuan, and the discount balance was 15.7 trillion yuan. In August, 109000 small and medium-sized enterprises issued bills, accounting for 93.3% of all bill issuing enterprises. The amount of bills issued by small and medium-sized enterprises was 2.4 trillion yuan, accounting for 73.4% of all bill issuing amounts. 121000 small and medium-sized enterprises were discounted, accounting for 96.6% of all discount enterprises, with a discount amount of 2.0 trillion yuan, accounting for 78.8% of all discount amounts.

At the end of August, the Shanghai Composite Index closed at 3857.9 points, up 284.7 points or 8.0% month on month; The Shenzhen Component Index closed at 12696.2 points, up 1686.4 points or 15.3% month on month. In August, the average daily trading volume of the Shanghai Stock Exchange was 956.64 billion yuan, an increase of 41.0% compared to the previous month; The daily trading volume of the Shenzhen Stock Exchange is 1323.0 billion yuan, an increase of 42.0% compared to the previous period.

As of the end of August, there were a total of 3984 corporate members in the interbank bond market, all of whom were financial institutions. From the perspective of bond holding scale, the top 50 investors in corporate credit bonds hold 53.0% of the bonds, mainly concentrated in public funds (asset management), state-owned large commercial banks (self operated), insurance financial institutions (asset management), etc; The top 200 investors hold 83.9% of the bonds. The maximum, minimum, average, and median number of holders of a single company's credit bonds are 114, 1, 12, and 12, respectively. The proportion of credit bonds with less than 20 holders is 88.8%. In August, according to the statistics of legal entities, the top 50 investors in corporate credit bonds accounted for 60.8% of the trading volume, mainly concentrated in securities companies (self operated), fund companies (asset management), and bank wealth management subsidiaries (asset management), with the top 200 investors accounting for 91.1% of the trading volume.