China interbank pledged repo volume and rate
China interbank pledged repo trading volume and weighted average rates from the People's Bank of China.
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| Indicator | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | 11-2025 | 10-2025 | 09-2025 | 08-2025 | 07-2025 | 06-2025 | 05-2025 | 04-2025 | 03-2025 | 02-2025 | 01-2025 | 12-2024 | 11-2024 | 10-2024 | 09-2024 | 08-2024 | 07-2024 | 06-2024 | 05-2024 | 04-2024 | 03-2024 | 02-2024 | 01-2024 | 12-2023 | 11-2023 | 10-2023 | 09-2023 | 08-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trading volume12 | ||||||||||||||||||||||||||||||||||||||
| Total | 1,357,635 | 1,491,397 | 1,283,509 | 1,392,616 | 1,760,174 | 1,801,251 | 1,176,620 | 1,699,667 | 1,830,086 | 1,490,113 | 1,308,462 | 1,590,229 | 1,599,958 | 1,744,553 | 1,554,316 | 1,289,880 | 1,352,969 | 1,239,776 | 912,089 | 1,092,720 | 1,659,954 | 1,598,580 | 1,379,060 | 1,266,478 | 1,430,585 | 1,471,357 | 1,170,559 | 1,196,623 | 1,377,861 | 1,450,637 | 1,054,218 | 1,665,633 | 1,434,277 | 1,415,728 | 1,167,146 | 1,363,667 | 1,698,636 | |
| Overnight (1-day) | 1,188,882 | 1,304,520 | 1,086,832 | 1,212,722 | 1,595,913 | 1,627,179 | 973,868 | 1,526,021 | 1,594,403 | 1,319,294 | 1,119,249 | 1,346,918 | 1,413,985 | 1,541,728 | 1,363,163 | 1,113,532 | 1,113,394 | 1,042,713 | 712,413 | 888,127 | 1,436,810 | 1,418,320 | 1,173,647 | 1,001,616 | 1,249,233 | 1,286,052 | 997,602 | 1,008,229 | 1,124,339 | 1,262,689 | 827,486 | 1,476,982 | 1,238,006 | 1,226,066 | 1,019,799 | 1,177,715 | 1,531,579 | |
| 7-day | 146,093 | 162,414 | 167,687 | 158,900 | 125,780 | 145,100 | 134,326 | 150,551 | 180,005 | 148,394 | 166,888 | 168,638 | 158,162 | 176,190 | 164,563 | 151,615 | 191,125 | 167,669 | 178,032 | 122,498 | 185,411 | 159,308 | 184,364 | 176,680 | 159,040 | 159,969 | 144,387 | 170,377 | 207,601 | 158,061 | 128,903 | 165,977 | 150,927 | 163,671 | 125,793 | 101,162 | 146,907 | |
| 14-day | 19,965 | 21,082 | 24,528 | 17,541 | 32,560 | 22,642 | 45,651 | 17,504 | 42,652 | 18,385 | 18,691 | 50,988 | 23,116 | 22,526 | 22,351 | 21,053 | 42,098 | 24,646 | 18,108 | 59,114 | 30,097 | 16,870 | 17,338 | 72,267 | 18,277 | 21,296 | 25,226 | 14,667 | 40,074 | 23,072 | 84,406 | 14,694 | 34,183 | 21,199 | 17,415 | 59,100 | 16,616 | |
| 21-day | 1,263 | 1,336 | 2,478 | 1,905 | 3,418 | 2,845 | 17,589 | 1,472 | 7,431 | 1,253 | 1,855 | 17,642 | 1,957 | 1,914 | 1,758 | 1,354 | 3,226 | 1,718 | 1,192 | 17,732 | 2,789 | 1,223 | 1,000 | 12,208 | 1,115 | 1,276 | 1,395 | 1,067 | 2,629 | 3,676 | 11,578 | 2,665 | 5,101 | 1,527 | 1,469 | 18,926 | 1,422 | |
| 1-month | 1,043 | 1,182 | 1,624 | 1,022 | 1,873 | 2,527 | 4,877 | 2,203 | 4,113 | 2,122 | 1,415 | 4,876 | 1,837 | 1,531 | 1,892 | 1,605 | 2,095 | 2,575 | 1,570 | 4,422 | 3,830 | 2,063 | 2,301 | 2,900 | 2,028 | 2,001 | 1,571 | 1,603 | 2,315 | 2,004 | 1,179 | 3,122 | 4,961 | 2,375 | 2,066 | 4,844 | 1,210 | |
| 2-month | 90 | 172 | 284 | 264 | 213 | 466 | 219 | 1,331 | 874 | 174 | 282 | 703 | 141 | 344 | 168 | 515 | 887 | 182 | 408 | 692 | 311 | 260 | 363 | 326 | 240 | 279 | 170 | 238 | 375 | 346 | 324 | 1,452 | 502 | 472 | 374 | 1,325 | 341 | |
| 3-month | 289 | 253 | 45 | 221 | 354 | 339 | 13 | 445 | 219 | 358 | 34 | 334 | 590 | 212 | 328 | 159 | 91 | 166 | 274 | 114 | 362 | 495 | 40 | 445 | 567 | 190 | 187 | 399 | 522 | 754 | 250 | 704 | 330 | 245 | 182 | 470 | 524 | |
| 4-month | 3 | 428 | 26 | 18 | 61 | 119 | 62 | 118 | 330 | 51 | 6 | 80 | 90 | 97 | 43 | 31 | 7 | 40 | 43 | 13 | 320 | 7 | 24 | 81 | 280 | 11 | 24 | 5 | 10 | 63 | 30 | 143 | 85 | 36 | 29 | 27 | ||
| 6-month | 5 | 2 | 2 | 26 | 29 | 8 | 22 | 59 | 77 | 18 | 18 | 16 | 10 | 45 | 5 | 32 | 29 | 45 | 6 | 22 | 27 | 4 | 7 | 2 | 7 | 2 | 8 | 2 | 18 | 9 | 1 | 116 | 86 | 9 | 45 | |||
| 9-month | 2 | 5 | 1 | 5 | 1 | 0 | 5 | 25 | 22 | 25 | 5 | 12 | 11 | 3 | 1 | 3 | 7 | 2 | 3 | 10 | 1 | 1 | 20 | 7 | 2 | 1 | 42 | 5 | ||||||||||
| 1-year | 8 | 1 | 1 | 6 | 10 | 40 | 3 | 38 | 3 | 4 | 5 | 1 | 8 | 5 | 1 | 6 | 2 | 6 | 2.07 | 2 | 8 | 5 | ||||||||||||||||
| Weighted average interest rate12 | ||||||||||||||||||||||||||||||||||||||
| All tenors | 1.4 | 1.42 | 1.43 | 1.33 | 1.31 | 1.4 | 1.44 | 1.43 | 1.4 | 1.44 | 1.4 | 1.46 | 1.41 | 1.46 | 1.5 | 1.56 | 1.72 | 1.87 | 2 | 2.16 | 1.65 | 1.59 | 1.65 | 1.83 | 1.79 | 1.82 | 1.89 | 1.82 | 1.86 | 1.91 | 1.89 | 1.9 | 1.9 | 1.98 | 2.06 | 1.96 | 1.76 | |
| Overnight (1-day) | 1.4 | 1.42 | 1.42 | 1.32 | 1.3 | 1.39 | 1.41 | 1.41 | 1.36 | 1.43 | 1.38 | 1.44 | 1.4 | 1.44 | 1.47 | 1.54 | 1.71 | 1.85 | 1.98 | 2.08 | 1.6 | 1.56 | 1.6 | 1.79 | 1.77 | 1.81 | 1.86 | 1.81 | 1.84 | 1.87 | 1.81 | 1.85 | 1.76 | 1.9 | 2.01 | 1.84 | 1.73 | |
| 7-day | 1.42 | 1.44 | 1.46 | 1.37 | 1.4 | 1.5 | 1.55 | 1.56 | 1.68 | 1.51 | 1.51 | 1.53 | 1.51 | 1.56 | 1.68 | 1.64 | 1.76 | 1.97 | 2.06 | 2.29 | 1.94 | 1.82 | 1.91 | 1.93 | 1.89 | 1.9 | 2.02 | 1.88 | 1.98 | 2.13 | 2.1 | 2.25 | 2.62 | 2.44 | 2.4 | 2.09 | 1.99 | |
| 14-day | 1.43 | 1.44 | 1.48 | 1.38 | 1.41 | 1.53 | 1.61 | 1.59 | 1.75 | 1.53 | 1.55 | 1.75 | 1.54 | 1.58 | 1.72 | 1.68 | 1.8 | 2.09 | 2.14 | 2.9 | 2.01 | 1.87 | 2.02 | 2.15 | 1.92 | 1.92 | 2.05 | 1.92 | 2.02 | 2.31 | 2.24 | 2.36 | 3.63 | 2.55 | 2.64 | 3.78 | 2.02 | |
| 21-day | 1.43 | 1.44 | 1.45 | 1.38 | 1.42 | 1.55 | 1.64 | 1.58 | 1.72 | 1.53 | 1.56 | 1.78 | 1.56 | 1.59 | 1.7 | 1.69 | 1.84 | 2.13 | 2.07 | 2.78 | 2.04 | 1.91 | 2.06 | 2.11 | 1.9 | 1.91 | 2 | 1.96 | 2.04 | 2.29 | 2.41 | 2.42 | 3.27 | 2.38 | 2.39 | 3.13 | 2.01 | |
| 1-month | 1.44 | 1.44 | 1.44 | 1.38 | 1.43 | 1.56 | 1.63 | 1.57 | 1.68 | 1.52 | 1.58 | 1.64 | 1.56 | 1.6 | 1.71 | 1.71 | 1.88 | 2.12 | 1.98 | 2.25 | 1.96 | 1.87 | 2 | 2.06 | 1.89 | 1.92 | 1.99 | 1.97 | 2.09 | 2.24 | 2.36 | 2.48 | 3.17 | 2.39 | 2.34 | 2.7 | 2.04 | |
| 2-month | 1.45 | 1.45 | 1.42 | 1.4 | 1.45 | 1.57 | 1.64 | 1.63 | 1.66 | 1.68 | 1.56 | 1.62 | 1.55 | 1.59 | 1.77 | 1.69 | 1.93 | 2.09 | 2.01 | 1.89 | 1.88 | 2.03 | 1.96 | 2.01 | 1.91 | 1.92 | 1.99 | 2.02 | 2.12 | 2.26 | 2.33 | 2.52 | 3.12 | 2.49 | 2.42 | 2.41 | 2.21 | |
| 3-month | 1.45 | 1.45 | 1.41 | 1.4 | 1.46 | 1.58 | 1.63 | 1.65 | 1.66 | 1.63 | 1.58 | 1.6 | 1.6 | 1.6 | 1.74 | 1.79 | 1.89 | 2.14 | 1.99 | 1.98 | 1.88 | 1.99 | 2.04 | 1.96 | 1.9 | 1.94 | 2.01 | 2.04 | 2.14 | 2.26 | 2.33 | 2.51 | 2.92 | 2.74 | 2.55 | 2.36 | 2.14 | |
| 4-month | 1.45 | 1.45 | 1.44 | 1.44 | 1.46 | 1.56 | 1.64 | 1.65 | 1.67 | 1.62 | 1.68 | 1.69 | 1.62 | 1.63 | 1.71 | 1.79 | 1.84 | 2.11 | 2.12 | 1.93 | 1.88 | 1.97 | 1.97 | 1.87 | 1.95 | 2.11 | 2.04 | 2.1 | 2.24 | 2.45 | 2.52 | 2.88 | 2.82 | 2.64 | 2.49 | 2.15 | ||
| 6-month | 1.49 | 1.53 | 1.44 | 1.46 | 1.59 | 1.62 | 1.79 | 1.67 | 1.67 | 1.73 | 1.72 | 1.7 | 1.8 | 1.72 | 1.8 | 1.83 | 2.16 | 2.18 | 1.93 | 1.97 | 1.96 | 2.5 | 2.02 | 2.03 | 2.27 | 2.55 | 2.51 | 2.41 | 2.37 | 2.43 | 2.51 | 2.74 | 2.69 | 2.68 | 2.55 | |||
| 9-month | 1.55 | 1.54 | 1.5 | 1.6 | 1.63 | 1.74 | 1.66 | 1.67 | 1.73 | 1.68 | 1.79 | 1.7 | 1.9 | 1.9 | 2.1 | 1.92 | 1.95 | 2.03 | 2.1 | 2.14 | 2.08 | 2.45 | 2.37 | 2.8 | 2.7 | 2.6 | 2.59 | 2.3 | ||||||||||
| 1-year | 1.7 | 1.57 | 1.7 | 1.74 | 1.66 | 1.68 | 1.96 | 2.13 | 1.92 | 2.18 | 1.84 | 2.45 | 2.24 | 2.21 | 2.25 | 2.44 | 2.48 | 2.6 | 3.1 | 2.85 | 2.31 | 2.3 |
Latest reading
The series on this page is monthly and runs from Jan 2015 to Aug 2026. Source: People's Bank of China — Statistics Department, Statistical Data.
About this data
China interbank pledged repo trading volume and weighted average rates from the People's Bank of China. Compiled from China Foreign Exchange Trade System (CFETS) data, the table details monthly collateralised turnover in 100 million yuan and interest rates across tenors from overnight to 1 year. Published monthly by the PBOC, all series track secured liquidity and funding costs in China's money market since 2015.
Frequently asked questions
- What is the latest figure for China interbank pledged repo volume and rate?
- Overnight (1-day) stood at 1.4% in Aug 2026. That is unchanged from Jul 2026 and unchanged from a year earlier.
- How far back does the China interbank pledged repo volume and rate data go?
- The series on this page is monthly and runs from Jan 2015 to Aug 2026. Source: People's Bank of China — Statistics Department, Statistical Data. Every series in the table can be charted over its full history and downloaded as CSV or Excel.
- What is China's interbank pledged repo market?
- China's interbank pledged repo market is a collateralised wholesale financing market where institutions borrow cash by pledging debt securities as collateral to manage liquidity. Transactions are executed through the China Foreign Exchange Trade System.
- Which maturities are available in China pledged repo data?
- The dataset provides monthly trading volumes and weighted average interest rates across eleven tenors: overnight (1-day), 7-day, 14-day, 21-day, 1-month, 2-month, 3-month, 4-month, 6-month, 9-month, and 1-year, plus an all-tenors aggregate.
- Why is the 7-day pledged repo rate important in China?
- The 7-day pledged repo rate in China serves as a primary benchmark for short-term interbank liquidity conditions and funding costs, closely reflecting commercial bank funding pressures and People's Bank of China monetary policy operations.