China’s 10-year government bond yield fell to around 1.75%, extending losses from the previous session and hitting its lowest level in over a month, as markets continued to price in expectations of a persistently accommodative policy stance from the People’s Bank of China. The one-year Loan Prime Rate remained unchanged at 3%, while the five-year LPR held steady at 3.5%, marking the eleventh consecutive month of no adjustment and record lows. While deflationary pressures have shown tentative signs of easing and growth momentum is gradually stabilising, authorities remain alert to external risks, including rising geopolitical tensions in the Middle East after the US seized an Iranian cargo vessel over sanctions violations, while Iran signalled it will not participate in a second round of ceasefire talks. The central bank reiterated that monetary policy would remain “supportive” and “moderately loose,” aiming to sustain growth while preserving currency stability and financial conditions.

The yield on China 10Y Bond Yield eased to 1.76% on April 20, 2026, marking a 0.01 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.08 points, though it remains 0.10 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the China 10-Year Government Bond Yield reached an all time high of 4.80 in September of 2007. China 10-Year Government Bond Yield - data, forecasts, historical chart - was last updated on April 20 of 2026.

The yield on China 10Y Bond Yield eased to 1.76% on April 20, 2026, marking a 0.01 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.08 points, though it remains 0.10 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. The China 10-Year Government Bond Yield is expected to trade at 1.74 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.67 in 12 months time.



Bonds Yield Day Month Year Date
China 10Y 1.76 -0.007% -0.077% 0.098% Apr/20
China 52W 1.14 -0.024% -0.104% -0.299% Apr/20
China 20Y 2.21 -0.080% -0.222% 0.238% Apr/20
China 2Y 1.29 -0.002% -0.014% -0.172% Apr/20
China 30Y 2.26 -0.007% -0.130% 0.345% Apr/20
China 3Y 1.33 -0.015% -0.030% -0.155% Apr/20
China 5Y 1.50 0% -0.065% -0.010% Apr/20
China 7Y 1.63 -0.005% -0.076% 0.028% Apr/20



Related Last Previous Unit Reference
China Inflation Rate 1.00 1.30 percent Mar 2026
China Loan Prime Rate 3.00 3.00 percent Apr 2026
China Unemployment Rate 5.40 5.30 percent Mar 2026

China 10-Year Government Bond Yield
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.
Actual Previous Highest Lowest Dates Unit Frequency
1.76 1.77 4.80 1.59 2000 - 2026 percent Daily

News Stream
China 10Y Yield Extends Fall to Over 1-Month Low
China’s 10-year government bond yield fell to around 1.75%, extending losses from the previous session and hitting its lowest level in over a month, as markets continued to price in expectations of a persistently accommodative policy stance from the People’s Bank of China. The one-year Loan Prime Rate remained unchanged at 3%, while the five-year LPR held steady at 3.5%, marking the eleventh consecutive month of no adjustment and record lows. While deflationary pressures have shown tentative signs of easing and growth momentum is gradually stabilising, authorities remain alert to external risks, including rising geopolitical tensions in the Middle East after the US seized an Iranian cargo vessel over sanctions violations, while Iran signalled it will not participate in a second round of ceasefire talks. The central bank reiterated that monetary policy would remain “supportive” and “moderately loose,” aiming to sustain growth while preserving currency stability and financial conditions.
2026-04-20
China 10Y Yield Approaches 7-Week Low
China’s 10-year government bond yield held below 1.78%, nearing a seven-week low as hopes for a potential Middle East peace deal eased global inflation concerns, while investors remained cautious despite China’s stronger economic momentum at the start of the year. The economy grew 5% in the first quarter from a year ago, accelerating from the 4.5% gain in the prior quarter and beating forecasts. However, underlying momentum appeared uneven, with industrial output and retail sales slowing, while the jobless rate hit a thirteen-month high. Meanwhile, the US and Iran are considering extending their two-week ceasefire to allow more time for negotiations, even as the Strait of Hormuz remains effectively closed under a dual blockade. Looking ahead, China is set to issue CNY 15.5 billion of government bonds in Hong Kong on April 22, the largest Dim Sum bond tranche since October 2023, a move expected to support offshore yuan liquidity and put downward pressure on yields.
2026-04-16
China Eyes Biggest Offshore Yuan Bond Sale Since 2023
China plans to issue CNY 15.5 billion of sovereign bonds in Hong Kong on April 22, marking its largest offshore renminbi bond sale since October 2023 and exceeding February’s CNY 14 billion offering. The move will increase the supply of yuan-denominated assets to global investors at a time when the currency is seen as a relative haven amid the Iran war. The issuance aligns with earlier signals from policymakers to expand offshore bond supply, improve market liquidity, and strengthen Hong Kong’s role as a key renminbi hub. Although details such as maturities were not disclosed, recent offerings have seen strong demand from both foreign investors and mainland buyers through the Southbound Bond Connect channel, underscoring continued appetite for offshore yuan assets.
2026-04-15