Chinese companies have for the first time issued more corporate bonds than their Japanese counterparts over the past year, marking another milestone in the development of China's capital markets.
Record Chinese issuance in the first half also surpassed Japanese companies' own record sales during this period.
The increase in Chinese debt sales, which has been a feature of the market for the past few years, partly reflects the incremental steps the government is making to expand the market. This was highlighted by the Agricultural Bank of China's massive $7.33bn sale in May.
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