In June 2026, the Northbound Bond Connect recorded a trading volume of 864.9 billion yuan, with a daily average of 41.2 billion yuan for the month. Policy financial bonds and government bonds were the most actively traded instruments, accounting for 56% and 23% of the monthly turnover, respectively.
During the same period, the Northbound Swap Connect facilitated 1,280 transactions, amounting to a total notional value of 754.8112 billion yuan. The cumulative number of overseas institutional participants that have entered the market reached 98.
The ePrime bond issuance system supported the completion of 5 offshore bond issuances in June, with a total issuance volume equivalent to 6.845 billion yuan.
The participating underwriters for the month, listed in alphabetical order by their English names, were: Bank of China (Hong Kong) Branch, China Industrial Securities International, China International Capital Corporation (Hong Kong), China Securities (International) Finance Holding Company, CITIC Securities, China Merchants Bank Wing Lung Bank, China CITIC Bank International Capital, Guotai Junan International, Haitong International Securities, Huatai International, and TF International Securities.
On June 17, 2026, China Merchants Bank London Branch successfully subscribed to a 5-year Panda bond issued by Barclays Bank PLC through the ePrime cross-border subscription service. This issuance was the second Panda bond tranche of 2026 by Barclays Bank PLC in China's interbank bond market, with a total size of 5 billion yuan. It comprised two tranches: a 3-year and a 5-year (with a call option), offering coupon rates of 1.73% and 1.98%, respectively.
In this subscription, ePrime was interconnected with the China Foreign Exchange Trade System's iDeal bond issuance and underwriting system. This integration enabled China Merchants Bank London Branch to complete order placement, allocation, and final subscription through an online process. This initiative not only demonstrates the increasing maturity of cross-border financial infrastructure connectivity but also stands as another successful example of the high-quality two-way opening of China's bond market.
On June 12, Bond Connect Company participated as a co-organizer in a seminar held in Macao, upon the invitation of the Macao Treasury Markets Association. During the event, Bond Connect Company summarized its practical measures and past experiences in supporting the development of Macao's modern financial sector and promoting the offshore renminbi markets in Hong Kong and Macao. Furthermore, it provided attendees with a detailed overview of the development trends in Hong Kong's primary bond market and the Bond Connect's two-way mutual access mechanism, with a particular focus on explaining the ePrime issuance service system. A dedicated system simulation session was also held to help deepen Macao practitioners' understanding of cross-border bond business.
In June, the "New Bond Information Connect" service released issuance information and results for a total of 68 bonds. Data on market entry and secondary trading via the Northbound Bond Connect was also provided.