Bonds currently listed and traded on the SZSE primarily consist of interest rate bonds and corporate bonds (including enterprise bonds). Among these, interest rate bonds include central government bonds, local government bonds, policy bank bonds, and government-backed agency bonds, while corporate bonds comprise publicly issued corporate bonds and privately placed ones.

Bonds can be traded on a spot basis on the Fixed Income Trading Platform through matching, click-to-trade, request for quote (RFQ), bidding, negotiation, among other trading methods, delivering efficient, transparent, and highly market-oriented trading. Bond repo uses the standard bond system to calculate the value of pledged bonds, providing the market with a convenient, low-cost financing channel and an efficient instrument for liquidity management.

In 2015, the China Securities Regulatory Commission (CSRC) issued the Measures for the Administration of Corporate Bond Offering and Trading (Decree No. 113) to advance the reform of the corporate bond market. The SZSE undertakes the preliminary examination of the listing of corporate bonds and has introduced the Rules for the Listing of Corporate Bonds (SZSE [2015] No. 239) and other supporting rules, to further streamline listing procedures, improve operational efficiency, and refine the information disclosure regime for corporate bonds.

In 2020, with the implementation of the Securities Law, the CSRC issued the Notice on Implementing a Registration System for the Public Issuance of Corporate Bonds, clarifying that the public issuance of corporate bonds is subject to the registration-based system. The SZSE issued the Notice on Business Arrangements Concerning the Implementation of the Registration-based System for the Public Issuance of Corporate Bonds, specifying arrangements for the issuance and listing review of publicly issued corporate bonds on the SZSE and for relevant business transition under the registration system.

In 2023, the CSRC issued the Announcement of the China Securities Regulatory Commission on Work Arrangements for the Regular Operation of Enterprise Bonds upon the Expiry of the Transition Period (CSRC Announcement [2023] No. 54), clarifying that once enterprise bonds transition to regular operation after the transition period, the exchanges shall be responsible for their review. The SZSE released self-disciplinary regulatory rules for the bond business to ensure the smooth and orderly assumption of responsibilities for the review of enterprise bond issuance.

As of September 30, 2026, the SZSE had a total of 19,201 bonds outstanding, with a custody balance of USD 628.7 billion.

Source: SZSE; data as of the end of September 2026. Outstanding amounts under custody are converted at the exchange rate of RMB 6.7351 per US dollar on September 30, 2026.