China A–BBB Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-a-bbb-china-callable
China A–BBB Callable Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.27%, fitted curve 3M–30Y (4.53%–5.91%), 68 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 3M | 4.53% | — |
| 6M | 4.55% | 4.57% |
| 9M | 4.57% | 4.61% |
| 12M | 4.59% | 4.66% |
| 18M | 4.63% | 4.72% |
| 2Y | 4.68% | 4.80% |
| 3Y | 4.76% | 4.93% |
| 4Y | 4.84% | 5.09% |
| 5Y | 4.92% | 5.24% |
| 6Y | 5.00% | 5.38% |
| 7Y | 5.07% | 5.52% |
| 8Y | 5.14% | 5.64% |
| 9Y | 5.21% | 5.74% |
| 10Y | 5.27% | 5.84% |
| 15Y | 5.53% | 6.05% |
| 20Y | 5.72% | 6.31% |
| 25Y | 5.91% | 6.64% |
| 30Y | 5.86% | 5.64% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.68% and the 10-year 5.27%, a 10Y−2Y spread of +60 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 | 4.68% | 4.48% | 4.54% | 4.35% | 4.40% | 3.94% | 4.02% |
| 10Y | 5.27% | 4.99% | 4.87% | 4.89% | 4.97% | 4.62% | 4.82% |
| 10Y − 2Y | +60 bp | +51 bp | +34 bp | +54 bp | +57 bp | +68 bp | +80 bp |
Bonds in this curve
A selection of 30 of the 82 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Industrial and Commercial Bank of China LTD | 4.58% | 2026-10-25 | 5.38% | XS2706176547 |
| Baidu INC | 4.66% | 2027-02-23 | 1.62% | US056752AV05 |
| China Southern Power Grid International Finance (BVI) CO. Limited | 4.41% | 2027-05-08 | 3.50% | USG2120QAC09 |
| Baidu INC | 4.58% | 2027-07-06 | 3.62% | US056752AJ76 |
| 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) | 4.88% | 2028-05-01 | 7.40% | US136420AF31 |
| China National Offshore Oil Corporation (Cnooc Group) | 4.59% | 2028-05-02 | 4.38% | US12634MAE03 |
| China Cinda Finance (2017) I Limited | 4.81% | 2029-02-21 | 4.75% | XS1948752826 |
| China National Offshore Oil Corporation (Cnooc Group) | 4.61% | 2029-09-30 | 2.88% | US12625GAF19 |
| 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 |
| China Life Insurance (Overseas) Company Limited | 5.33% | 2033-08-15 | 5.35% | XS2621319040 |
| Alibaba Group Holding Limited | 5.15% | 2034-11-28 | 4.50% | US01609WAR34 |
| Alibaba Group Holding Limited | 5.13% | 2034-11-28 | 4.50% | USG01719AF39 |
| Meituan | 5.83% | 2035-11-05 | 5.12% | USG59669AJ33 |
| Alibaba Group Holding Limited | 5.32% | 2037-12-06 | 4.00% | US01609WAU62 |
| Tencent Holdings LTD | 5.33% | 2038-01-19 | 3.92% | US88032XAH70 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.14% | 2041-01-26 | 5.75% | USG2353WAB75 |
| Tencent Holdings LTD | 5.49% | 2041-04-22 | 3.68% | US88032XBB91 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.28% | 2044-04-30 | 4.88% | US12591DAD30 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.28% | 2045-05-05 | 4.20% | US12634GAC78 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.27% | 2049-09-30 | 3.30% | US12625GAG91 |
| Tencent Holdings LTD | 5.87% | 2050-06-03 | 3.24% | US88032XAV64 |
| Tencent Holdings LTD | 5.88% | 2060-06-03 | 3.29% | US88032XAW48 |