China’s 10-year government bond yield fell to around 1.8% on Monday, hitting its lowest level in two weeks, as the central bank boosted liquidity to ease seasonal funding pressures ahead of the Lunar New Year. The People’s Bank of China injected 600 billion yuan via 14-day repurchase agreements last week to help banks cover a temporary funding gap of roughly 3.2 trillion yuan, and is expected to add up to 3.5 trillion yuan more before the holidays. By providing banks with extra cash, the move increased demand for government bonds, putting downward pressure on yields. The injections come amid cash withdrawals linked to holiday spending, heavy government bond issuance and strong demand for yuan from companies, all of which tighten liquidity. Looking ahead, China is expected to cut the reserve-requirement ratio by 50 basis points and lower interest rates this year. Investors will watch this week’s inflation data for clues on PBOC policy support.

The yield on China 10Y Bond Yield eased to 1.80% on February 9, 2026, marking a 0.01 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.06 points, though it remains 0.19 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the China 10-Year Government Bond Yield reached an all time high of 4.80 in September of 2007. China 10-Year Government Bond Yield - data, forecasts, historical chart - was last updated on February 9 of 2026.

The yield on China 10Y Bond Yield eased to 1.80% on February 9, 2026, marking a 0.01 percentage points decrease from the previous session. Over the past month, the yield has fallen by 0.06 points, though it remains 0.19 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. The China 10-Year Government Bond Yield is expected to trade at 1.79 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.70 in 12 months time.



Bonds Yield Day Month Year Date
China 10Y 1.80 -0.010% -0.064% 0.187% Feb/09
China 52W 1.31 0.063% 0.042% 0.113% Feb/09
China 20Y 2.27 -0.065% -0.125% 0.358% Feb/09
China 2Y 1.36 -0.010% -0.089% 0.090% Feb/09
China 30Y 2.25 0.005% -0.068% 0.398% Feb/09
China 3Y 1.38 -0.012% -0.093% 0.098% Feb/09
China 5Y 1.55 -0.014% -0.102% 0.151% Feb/09
China 7Y 1.66 -0.012% -0.121% 0.135% Feb/09



Related Last Previous Unit Reference
China Inflation Rate 0.80 0.70 percent Dec 2025
China Loan Prime Rate 3.00 3.00 percent Jan 2026
China Unemployment Rate 5.10 5.10 percent Dec 2025

China 10-Year Government Bond Yield
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.
Actual Previous Highest Lowest Dates Unit Frequency
1.80 1.81 4.80 1.59 2000 - 2026 percent Daily

News Stream
China 10Y Yield Hits Two-Week Low
China’s 10-year government bond yield fell to around 1.8% on Monday, hitting its lowest level in two weeks, as the central bank boosted liquidity to ease seasonal funding pressures ahead of the Lunar New Year. The People’s Bank of China injected 600 billion yuan via 14-day repurchase agreements last week to help banks cover a temporary funding gap of roughly 3.2 trillion yuan, and is expected to add up to 3.5 trillion yuan more before the holidays. By providing banks with extra cash, the move increased demand for government bonds, putting downward pressure on yields. The injections come amid cash withdrawals linked to holiday spending, heavy government bond issuance and strong demand for yuan from companies, all of which tighten liquidity. Looking ahead, China is expected to cut the reserve-requirement ratio by 50 basis points and lower interest rates this year. Investors will watch this week’s inflation data for clues on PBOC policy support.
2026-02-09
China 10Y Yield Trades Near 1-Month Lows
China’s 10-year government bond yield fell to around 1.80% on Friday, trading near its lowest level in over a month, as mixed PMI readings raised concerns about growth and supported demand for safe-haven bonds. A private survey showed the composite PMI rose to a three-month high in January, with both the manufacturing and services sectors continuing to expand. However, an official survey released over the weekend showed an unexpected contraction in both manufacturing and services. Meanwhile, demand for local government bonds remained elevated. Banks have been ramping up purchases, supported by record liquidity injections from the People’s Bank of China and softening loan demand. This shift comes as Beijing seeks to cool the recent equity market rally, prompting investors to turn to the relative safety of government bonds. Regulatory changes have also supported buying, with authorities easing interest-rate risk measures earlier this year to align with global standards.
2026-02-02
China 10-Year Heads Toward 1-Month Low
China’s 10-year government bond yield fell to around 1.80% on Friday, approaching its lowest level in over a month, as demand for Chinese debt picked up. Banks have been ramping up purchases, supported by record liquidity injections from the People’s Bank of China and softening loan demand. The shift comes as Beijing seeks to cool the recent equity market rally, prompting investors to turn to the relative safety of government bonds. Regulatory changes have also supported buying, with authorities easing interest-rate risk measures earlier this year to align with global standards. Analysts expect the 10-year yield to trade between 1.7% and 2.1% in 2026, while supply of longer-dated bonds is anticipated to rise. Meanwhile, markets are eyeing upcoming PMI data, with both official and private surveys scheduled for release in the coming days.
2026-01-30