Chinese corporate bond financing hit a record low in May, as a market rout discouraged new issuance while a wave of previously issued notes came due.
The combination of tight liquidity and a regulatory crackdown on leveraged investment in bonds has hammered China’s debt market in recent months.
Net corporate bond financing — new issuances less maturities — totalled negative Rmb217bn ($31bn) in May, well below the previous record low of negative Rmb89bn in February, according to data from Wind Information.
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