Manila, June 25 (Xinhua)-China continues to have the largest local currency bond market in emerging East Asia, according to the latest issue of the Asian Development Bank (ADB) report released Friday. It accounts for 77.8% of the outstanding bonds of. ..

In the first quarter of 2021, China’s bond market expanded 2.1% from the previous quarter and 17.3% from the same period last year to US $ 15.8 trillion, according to ADB’s Asian Bond Monitor, and the overall market due to lower government bond issuance. Growth.

“The need for fiscal stimulus has diminished during the economic recovery, and the government’s focus on mitigating credit risk in financial markets has restricted the issuance of government bonds,” the report said. It was.

According to the report, Chinese government bonds increased 1.6% from the previous quarter and 18.5% from the same period of the previous year to reach US $ 10.1 trillion at the end of March.

Corporate bonds increased 2.9% quarter-on-quarter and 15.2% year-on-year to US $ 5.7 trillion, the report added.

Emerging East Asia consists of China, China’s Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam.