The Securities Association of China released specialized statistics on bond underwriting (including corporate bonds) by securities firms for the first three quarters of 2025.
**Green Bonds**: A total of 51 securities companies acted as lead underwriters (or asset securitization product managers) for 137 green bonds (or products), with an aggregate value of RMB109.01 billion. This included 40 asset securitization products worth RMB49.62 billion.
**Low-Carbon Transition Bonds**: Twenty-six brokerages underwrote 25 low-carbon transition bonds, totaling RMB14.38 billion.
**Sci-Tech Innovation Bonds**: Seventy-five securities firms underwrote 674 sci-tech innovation bonds, raising RMB705.18 billion.
**Rural Revitalization Bonds**: Forty-one brokerages managed 68 rural revitalization bonds (or products), amounting to RMB42.65 billion, including eight asset securitization products worth RMB6.28 billion.
**Belt and Road Bonds**: Nineteen firms underwrote 12 Belt and Road bonds, with a combined value of RMB11.3 billion.
**SME Support Bonds**: Forty-one securities companies underwrote 50 SME support bonds, raising RMB20.77 billion.
**Private Enterprise Bonds**: Fifty-six brokerages managed 368 private enterprise bonds (or products), totaling RMB391.36 billion, including 212 asset securitization products worth RMB190.4 billion.
**Local Government Bonds**: Sixty-nine securities firms participated in issuing local government bonds across 31 regions, with a total bid-winning amount of RMB336.95 billion.
