China Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-china
China Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 5.15%, fitted curve 1M–30Y (4.62%–5.84%), 115 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.62% | — |
| 3M | 4.63% | 4.63% |
| 6M | 4.64% | 4.65% |
| 9M | 4.65% | 4.67% |
| 12M | 4.66% | 4.69% |
| 18M | 4.68% | 4.73% |
| 2Y | 4.71% | 4.78% |
| 3Y | 4.76% | 4.85% |
| 4Y | 4.81% | 4.96% |
| 5Y | 4.86% | 5.08% |
| 6Y | 4.92% | 5.20% |
| 7Y | 4.97% | 5.32% |
| 8Y | 5.03% | 5.44% |
| 9Y | 5.09% | 5.56% |
| 10Y | 5.15% | 5.68% |
| 15Y | 5.42% | 5.97% |
| 20Y | 5.63% | 6.26% |
| 25Y | 5.77% | 6.31% |
| 30Y | 5.84% | 6.23% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.71% and the 10-year 5.15%, a 10Y−2Y spread of +44 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% | 4.50% | 4.48% | 4.40% | 4.39% | 4.06% | 4.14% |
| 10Y | 5.15% | 4.96% | 4.83% | 4.81% | 4.91% | 4.57% | 4.88% |
| 10Y − 2Y | +44 bp | +46 bp | +35 bp | +41 bp | +52 bp | +51 bp | +75 bp |
Bonds in this curve
A selection of 30 of the 129 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 |
| State Grid Overseas Investment (BVI) Limited | 4.35% | 2026-09-08 | 1.12% | XS2358735830 |
| 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 |
| Zhejiang Baron (BVI) Company Limited | 4.69% | 2027-07-12 | 6.05% | XS2837710917 |
| Ningbo Yincheng Group CO., LTD. | 4.83% | 2027-07-24 | 5.38% | XS2859244720 |
| China State Construction Finance (Cayman) I Limited | 4.93% | 2027-11-29 | 3.88% | XS1721386917 |
| Nanjing Yangzi State-Owned Investment Group CO., LTD. | 5.24% | 2027-12-05 | 4.50% | XS1717856261 |
| China National Offshore Oil Corporation (Cnooc Group) | 4.59% | 2028-05-02 | 4.38% | US12634MAE03 |
| State Grid Overseas Investment (BVI) Limited | 4.49% | 2028-05-02 | 4.25% | USG8450LAP97 |
| Shengzhou Investment Holdings CO., LTD. | 4.78% | 2029-02-10 | 4.05% | XS3282769093 |
| China Cinda Finance (2017) I Limited | 4.81% | 2029-02-21 | 4.75% | XS1948752826 |
| Tencent Holdings LTD | 4.60% | 2030-06-03 | 2.39% | US88032XAU81 |
| State Grid Overseas Investment (BVI) Limited | 4.51% | 2030-08-05 | 1.62% | XS2152902479 |
| 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 |