People's Bank of China (PBOC) The November 2025 Financial Market Performance Report has been released. The data shows that in November, the bond market issued a total of 7,017.93 billion yuan in various types of bonds. Treasury bond issuance totaled 1,044.42 billion yuan, while local government bond issuance totaled 912.69 billion yuan,financial bonds totaled 1,195.50 billion yuan, corporate credit bonds reached 1,394.88 billion yuan, credit asset-backed securities amounted to 32.72 billion yuan, and interbank certificates of deposit stood at 2,400.92 billion yuan. As of the end of November, the total outstanding balance in the bond market was 196.3 trillion yuan.Of this total, the outstanding balance in the interbank market was 173.0 trillion yuan, and the outstanding balance in the exchange market was 23.2 trillion yuan. By bond type, the outstanding balance of government bonds was 40.1 trillion yuan, that of local government bonds was 54.3 trillion yuan,financial bonds at 44.6 trillion yuan, corporate credit bonds at 34.8 trillion yuan, credit asset-backed securities at 1.0 trillion yuan, and interbank certificates of deposit at 20.3 trillion yuan. The outstanding balance of over-the-counter bonds held by commercial banks was 274.07 billion yuan.