China A–BBB Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-a-bbb-china
China A–BBB Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.22%, fitted curve 1M–30Y (4.61%–5.90%), 94 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.61% | — |
| 3M | 4.62% | 4.63% |
| 6M | 4.63% | 4.64% |
| 9M | 4.64% | 4.67% |
| 12M | 4.66% | 4.69% |
| 18M | 4.68% | 4.73% |
| 2Y | 4.71% | 4.78% |
| 3Y | 4.76% | 4.87% |
| 4Y | 4.82% | 5.00% |
| 5Y | 4.88% | 5.13% |
| 6Y | 4.95% | 5.28% |
| 7Y | 5.02% | 5.43% |
| 8Y | 5.09% | 5.57% |
| 9Y | 5.16% | 5.72% |
| 10Y | 5.22% | 5.85% |
| 15Y | 5.53% | 6.14% |
| 20Y | 5.74% | 6.38% |
| 25Y | 5.90% | 6.54% |
| 30Y | 5.86% | 5.67% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.71% and the 10-year 5.22%, a 10Y−2Y spread of +52 bp — positively sloped — as of 2026-07-27. The chart and table below track how they have moved.
Fitted 2Y and 10Y yields and their spread, sampled one build date per month. See all inverted curves today →
| Tenor | Latest2026-07-27 | 1m ago2026-06-26 | 2m ago2026-05-28 | 3m ago2026-04-28 | 4m ago2026-03-30 | 5m ago2026-02-27 | 6m ago2026-01-28 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.71% | 4.46% | 4.45% | 4.37% | 4.38% | 3.91% | 3.99% |
| 10Y | 5.22% | 4.98% | 4.87% | 4.87% | 4.96% | 4.62% | 4.80% |
| 10Y − 2Y | +52 bp | +52 bp | +42 bp | +50 bp | +58 bp | +71 bp | +81 bp |
Bonds in this curve
A selection of 30 of the 108 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Chongqing Nan'an Urban Construction & Development (Group) CO., LTD. | 5.90% | 2026-08-17 | 4.50% | XS1442177645 |
| China Merchants Bank CO LTD | 7.82% | 2026-09-01 | 1.25% | XS2379392397 |
| Industrial and Commercial Bank of China LTD | 4.58% | 2026-10-25 | 5.38% | XS2706176547 |
| Industrial and Commercial Bank of China LTD | 4.65% | 2026-10-28 | 1.62% | XS2381043350 |
| Agricultural Bank of China | 4.75% | 2027-01-18 | 2.00% | XS2425755985 |
| Shaoxing Shangyu State-Owned Capital Investment and Operation CO., LTD | 4.56% | 2027-01-30 | 5.60% | XS2734113991 |
| Chengdu Tianfu NEW Area Investment Group CO., LTD | 4.67% | 2027-04-10 | 5.45% | XS2788243736 |
| Bank of China Limited | 4.66% | 2027-04-20 | 3.50% | XS1599276109 |
| Ningbo Yincheng Group CO., LTD. | 4.83% | 2027-07-24 | 5.38% | XS2859244720 |
| Jinan HI-Tech Holding Group CO., LTD | 4.78% | 2027-10-08 | 5.00% | XS2908570745 |
| China State Construction Finance (Cayman) I Limited | 4.93% | 2027-11-29 | 3.88% | XS1721386917 |
| Tencent Holdings LTD | 4.50% | 2028-01-19 | 3.60% | US88032XAG97 |
| China National Offshore Oil Corporation (Cnooc Group) | 4.59% | 2028-05-02 | 4.38% | US12634MAE03 |
| Industrial and Commercial Bank of China LTD | 4.57% | 2028-05-21 | 4.12% | XS2919678339 |
| China Cinda Finance (2017) I Limited | 4.81% | 2029-02-21 | 4.75% | XS1948752826 |
| Shaoxing Shangyu State-Owned Capital Investment and Operation CO., LTD | 4.62% | 2029-03-05 | 3.90% | XS3272404636 |
| Tencent Holdings LTD | 4.60% | 2030-06-03 | 2.39% | US88032XAU81 |
| Tencent Music Entertainment Group | 4.91% | 2030-09-03 | 2.00% | US88034PAB58 |
| Tencent Holdings LTD | 4.62% | 2031-04-22 | 2.88% | US88032XBA19 |
| Meituan | 5.28% | 2031-05-05 | 4.50% | USG59669AG93 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.04% | 2032-03-15 | 7.88% | US65334HAA05 |
| Meituan | 5.44% | 2032-11-05 | 4.75% | USG59669AH76 |
| China National Offshore Oil Corporation (Cnooc Group) | 4.82% | 2033-05-21 | 5.50% | USG21886AB53 |
| Alibaba Group Holding Limited | 5.15% | 2034-11-28 | 4.50% | US01609WAR34 |
| Meituan | 5.83% | 2035-11-05 | 5.12% | USG59669AJ33 |
| Tencent Holdings LTD | 5.22% | 2036-06-16 | 5.00% | US88032XBE31 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.14% | 2041-01-26 | 5.75% | USG2353WAB75 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.28% | 2044-04-30 | 4.88% | US12591DAD30 |
| Tencent Holdings LTD | 5.81% | 2049-04-11 | 4.53% | US88032XAQ79 |
| Tencent Holdings LTD | 5.88% | 2060-06-03 | 3.29% | US88032XAW48 |