China Non-Callable Corporate Bond Yields (USD)
Fitted spot curve as of 2026-07-27
https://bondscovery.com/yield-curve/usd-corporate-china-non-callable
China Non-Callable Corporate Bond Yields (USD) as of 2026-07-27: 10Y at 4.84%, fitted curve 1M–25Y (4.68%–5.76%), 44 bonds. Live chart, constituents and forward rates on bondScovery.
| Maturity | Fitted yield | Forward rate |
|---|---|---|
| 1M | 4.68% | — |
| 3M | 4.68% | 4.68% |
| 6M | 4.68% | 4.68% |
| 9M | 4.68% | 4.68% |
| 12M | 4.68% | 4.69% |
| 18M | 4.68% | 4.69% |
| 2Y | 4.69% | 4.70% |
| 3Y | 4.69% | 4.71% |
| 4Y | 4.70% | 4.73% |
| 10Y | 4.84% | 4.94% |
| 15Y | 5.15% | 5.76% |
| 20Y | 5.53% | 6.69% |
| 25Y | 5.76% | 6.67% |
2Y, 10Y and the 10Y−2Y spread over time
The 2-year yield is 4.69% and the 10-year 4.84%, a 10Y−2Y spread of +16 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 | 4.69% | 4.47% | 4.45% | 4.40% | 4.39% | 4.11% | 4.22% |
| 10Y | 4.84% | 4.58% | — | — | — | — | — |
| 10Y − 2Y | +16 bp | +10 bp | — | — | — | — | — |
Bonds in this curve
A selection of 30 of the 44 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 | 4.65% | 2026-10-28 | 1.62% | XS2381043350 |
| Jinan Lixia Holding Group CO., LTD. | 5.13% | 2026-10-26 | 7.30% | XS2677888989 |
| Taishan Finance International Business CO., Limited | 7.24% | 2026-11-08 | 6.50% | XS2901798236 |
| China Construction Bank Corporation | 4.70% | 2026-11-30 | 5.00% | XS2723146325 |
| 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 |
| Ji'an Chengtou Holding Group CO., LTD. | 4.99% | 2027-02-02 | 7.50% | XS2756270208 |
| Bank of China Limited | 4.67% | 2027-02-24 | 2.38% | XS2446844917 |
| 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 |
| State Grid Overseas Investment (BVI) Limited | 4.53% | 2027-05-04 | 3.50% | USG8450LAJ38 |
| 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 |
| Dongxing Voyage Company Limited | 5.58% | 2027-08-01 | 5.30% | XS2853313315 |
| Nanjing Yangzi State-Owned Investment Group CO., LTD. | 5.24% | 2027-12-05 | 4.50% | XS1717856261 |
| Bank of China Limited | 4.55% | 2028-03-08 | 4.00% | XS1785829760 |
| State Grid Overseas Investment (BVI) Limited | 4.49% | 2028-05-02 | 4.25% | USG8450LAP97 |
| Industrial and Commercial Bank of China LTD | 4.57% | 2028-05-21 | 4.12% | XS2919678339 |
| Guangxi Communications Investment Group CO., LTD. | 4.70% | 2028-06-05 | 4.70% | XS3074257265 |
| Shengzhou Investment Holdings CO., LTD. | 4.78% | 2029-02-10 | 4.05% | XS3282769093 |
| Shaoxing Shangyu State-Owned Capital Investment and Operation CO., LTD | 4.62% | 2029-03-05 | 3.90% | XS3272404636 |
| Tencent Holdings LTD | 4.53% | 2029-04-11 | 3.98% | US88032XAN49 |
| China Huaneng Group (Hong Kong) Treasury Management Holding Limited | 4.57% | 2031-01-20 | 2.70% | XS2247703163 |
| Tencent Holdings LTD | 5.22% | 2036-06-16 | 5.00% | US88032XBE31 |
| State Grid Overseas Investment (BVI) Limited | 5.16% | 2043-05-22 | 4.38% | USG8449VAC03 |
| Tencent Holdings LTD | 5.83% | 2046-06-16 | 5.60% | US88032XBF06 |
| State Grid Overseas Investment (BVI) Limited | 5.16% | 2047-05-04 | 4.00% | USG8450LAM66 |
| Tencent Holdings LTD | 5.81% | 2049-04-11 | 4.53% | US88032XAQ79 |