China's Bond Connect program sees record-high trading volume

BEIJING -- The trading volume under China's Bond Connect program in November hit a record high, reaching 485 billion yuan ($74.26 billion), according to a report released by Bond Connect Co Ltd.

The program saw a total of 5,895 trade tickets, with an average daily turnover of 23.1 billion yuan last month, the report showed.

Over 60 investors executed their first Bond Connect deal in November and the program received the first investor from South Africa, according to the report.

By the end of November, the program had 2,307 approved investors, including 75 of the top 100 global asset management companies, the report said.

The Bond Connect program, launched in July 2017, is a mutual market access scheme that allows overseas investors to invest in the Chinese mainland's interbank bond market using financial institutions on the mainland and in Hong Kong.