China Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-09-10
https://bondscovery.com/yield-curve/usd-corporate-china-callable
China Callable Corporate Bond Yields (USD) as of 2026-09-10: 10Y at 5.52%, fitted curve 1M–30Y (4.70%–6.21%), 71 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.70% | — |
| 6M | 4.74% | 4.81% |
| 9M | 4.76% | 4.88% |
| 12M | 4.78% | 4.88% |
| 18M | 4.82% | 4.97% |
| 2Y | 4.86% | 5.06% |
| 3Y | 4.95% | 5.20% |
| 4Y | 5.04% | 5.39% |
| 5Y | 5.12% | 5.59% |
| 6Y | 5.20% | 5.78% |
| 7Y | 5.29% | 5.97% |
| 8Y | 5.37% | 6.16% |
| 9Y | 5.44% | 6.34% |
| 10Y | 5.52% | 6.51% |
| 15Y | 5.82% | 6.93% |
| 20Y | 6.07% | 7.75% |
| 25Y | 6.18% | 7.32% |
| 30Y | 6.21% | 6.86% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.86% and the 10-year 5.52%, a 10Y−2Y spread of +65 bp — positively sloped — as of 2026-09-10. 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 | Latest2026-09-10 | 1m ago2026-08-11 | 2m ago2026-07-13 | 3m ago2026-06-12 | 4m ago2026-05-13 | 5m ago2026-04-13 | 6m ago2026-03-13 |
|---|---|---|---|---|---|---|---|
| 2Y | 4.86% | 4.67% | 4.63% | 4.57% | 4.45% | 4.35% | 4.21% |
| 10Y | 5.52% | 5.39% | 5.18% | 5.02% | 5.01% | 4.85% | 4.85% |
| 10Y − 2Y | +65 bp | +72 bp | +55 bp | +45 bp | +56 bp | +51 bp | +64 bp |
Yields by rating group
The same curve split by credit quality: 85 rated bonds across 2 rating bands, all maturities pooled. Median yield by band: A+ to BBB- 5.30%, Speculative 9.74%.
Bonds in this curve
A selection of 30 of the 87 bonds behind this curve, spread across maturities.
| Issuer | Yield | Maturity | Coupon | ISIN |
|---|---|---|---|---|
| Industrial and Commercial Bank of China LTD | 4.66% | 2026-10-25 | 5.38% | XS2706176547 |
| Baidu INC | 4.72% | 2027-02-23 | 1.62% | US056752AV05 |
| China Southern Power Grid International Finance (BVI) CO. Limited | 4.61% | 2027-05-08 | 3.50% | USG2120QAC09 |
| Baidu INC | 4.71% | 2027-07-06 | 3.62% | US056752AJ76 |
| Industrial and Commercial Bank of China LTD | 5.18% | 2027-11-08 | 3.54% | US45580KAK43 |
| China State Construction Finance (Cayman) I Limited | 5.02% | 2027-11-29 | 3.88% | XS1721386917 |
| Tencent Holdings LTD | 4.66% | 2028-01-19 | 3.60% | US88032XAG97 |
| Baidu INC | 4.84% | 2028-03-29 | 4.38% | US056752AL23 |
| Baidu INC | 4.98% | 2028-11-14 | 4.88% | US056752AN88 |
| China Cinda Finance (2017) I Limited | 4.92% | 2029-02-21 | 4.75% | XS1948752826 |
| Tencent Holdings LTD | 4.67% | 2029-04-11 | 3.98% | US88032XAN49 |
| Longfor Group Holdings Limited | 9.74% | 2029-09-16 | 3.95% | XS2033262895 |
| Baidu INC | 5.08% | 2030-04-07 | 3.42% | US056752AR92 |
| Tencent Holdings LTD | 4.83% | 2030-06-03 | 2.39% | US88032XAU81 |
| Tencent Holdings LTD | 4.82% | 2031-04-22 | 2.88% | US88032XBA19 |
| Meituan | 5.54% | 2031-05-05 | 4.50% | USG59669AG93 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.26% | 2032-03-15 | 7.88% | US65334HAA05 |
| Meituan | 5.71% | 2032-11-05 | 4.75% | USG59669AH76 |
| China National Offshore Oil Corporation (Cnooc Group) | 4.98% | 2033-05-21 | 5.50% | USG21886AB53 |
| Alibaba Group Holding Limited | 5.43% | 2034-11-28 | 4.50% | US01609WAR34 |
| Alibaba Group Holding Limited | 5.44% | 2034-11-28 | 4.50% | USG01719AF39 |
| Alibaba Group Holding Limited | 5.33% | 2035-05-26 | 5.25% | US01609WBP68 |
| Meituan | 6.02% | 2035-11-05 | 5.12% | USG59669AJ33 |
| Tencent Holdings LTD | 5.47% | 2036-06-16 | 5.00% | US88032XBE31 |
| Tencent Music Entertainment Group | 5.90% | 2036-09-10 | 5.65% | US88034PAC32 |
| China National Offshore Oil Corporation (Cnooc Group) | 5.35% | 2041-01-26 | 5.75% | USG2353WAB75 |
| Alibaba Group Holding Limited | 6.00% | 2041-02-09 | 2.70% | US01609WAY84 |
| State Grid Overseas Investment (BVI) Limited | 5.41% | 2044-05-07 | 4.85% | USG8449WAD68 |
| Tencent Holdings LTD | 6.08% | 2049-04-11 | 4.53% | US88032XAQ79 |
| Alibaba Group Holding Limited | 6.30% | 2057-12-06 | 4.40% | US01609WAW29 |